4 Money Market, Savings (Personal, Business and Organization), Youth Savings, College Fund, and IRA Savings accounts are compounded daily and paid monthly. APY is an annual calculation based on 365 days (366 days in a leap year). Credit union savings accounts often have higher interest rates than the big banks. The dividend rate and annual percentage yield may change at any time as determined by the Credit Union's Board of Directors and are the rates and yields that the Credit Union anticipates paying for the applicable dividend period. The amount of any balance above $1,000 will earn 0.05% APY. Money Market accounts generally provide higher interest rates than savings accounts, while still giving you access to your funds. You can open a Charity Bank credit union savings account that will earn you a return and support the extraordinary work of charities and social enterprises across the UK. A Youth Savings Account at Park Community is more than your ordinary savings account. one might pay 2% p.a. on amounts under $50,000). Interest is paid monthly on average daily balances over $1000. Learn More. Interest is earned daily. The dividend is the way in which the credit union shares its profits with its members and the amount you receive, if any, will vary depending on how much profit the credit union has made in the year. Credit Union savings: Save with a bank for good. The $5.00 in your savings account is the minimum balance established by the Board of Directors as the amount required in an active account and represents your share in the credit union. Benefits of a Health Savings Account (HSA) No minimum balance to open an account 1; ... For a full listing of rates, see our Rate and Fee Schedule. Are credit unions better than banks for building up your savings? You must be a member of The Summit FCU to take advantage of its products and services. The Best Bank Accounts guide has the highest paying options. Business/Community (Rates effective 2020-09-24) Rates; Balance of up to $4999: 0.200%: Balance of $5000 - $9999: 0.250%: Balance of $10,000 - $24,999: 0.500%: Balance of $25,000 - $59,999 Emergency Savings Account We know the importance of emergency savings and the peace of mind it gives you, so we pay a premium rate on our FAIRWINDS Emergency Savings account. If you're looking for a bank that will help you to put your credit union's money where your values are, you're in the right place. Personal savings accounts are the backbone of your Florida Credit Union membership. Open a Regular Savings Account at Truliant Federal Credit Union enjoy competitive, high interest rates, online banking access, no fees and more. The Summit is an Equal Housing Lender. ... Dividends are calculated on the daily balance in the account at the simple interest rate compounded daily and paid per the account agreement. Missouri Central Credit Union is a locally owned and operated credit union offering competitive rates on savings accounts. The Annual Percentage Yields (APYs) stated are accurate as of October 1, 2020. The minimum opening deposit on a savings account is $5.00. ^ Offer for customers with an increase in savings of $500 or more, per calendar month, will receive an additional bonus rate of 0.40% pa for the month where such balance growth was achieved. Find out if a credit union is right for you and compare your options. National Credit Union Administration, a U.S. Government Agency. Take a look at our list of top Banks and Credit Unions with the best Savings Account in Rhode Island that we track. In no case will the account interest rate be less than .01%. It is also the 61 st largest credit union in the nation. United Credit Union Savings Rates are competitive in the financial marketplace and are updated regularly for members contemplating making financial decisions.