Workers Credit Union offers their SaveUp Savings account with an interest rate of up to 1.05%. The credit union can be joined by anyone by joining the Financial Fitness Association which costs $8. Workers Credit Union will reimburse you for the $8.
Here are their rates as of today (5/14/21):
- 4.32% APY on balances up to $1,000 with no hoops to jump through.
- Balances between $1,000 and above increase incrementally, e.g. $25,000 gets .71% APY, $100,000 gets .84% APY, etc. You can see the full list of rates here. (It gets a bit confusing because the increased rate only applies to balances above that tier, and that gets blended with the lower tiers. Just look at the ‘Base APY’ number as that’s what you’ll actually be getting. )
- All balances get an extra .05% if you have automatic deposit of $50+.
This is currently sitting at the top of all available savings account options. Might not be worth opening the account just for the $1,000 high rate of 4.32%, but could make sense if you have a lot of cash savings since at higher balances the difference between this account rate and others get more significant.
Hat tip to reader Kyle who also notes that it’s a soft pull to join.
