Credit Union 1 Savings Rates, Money Market Account Rates and Review

Credit Union 1's motto is "A unique concept in financial services" is advertising share savings rates and money market account rates. Credit Union 1 has branch locations in Indianapolis, Chicago, Las Vegas and other cities isn't offering the best savings account rates and money market rates but the rates they are offering are better than the national averages. Credit Union 1's long term CD rates are probably the best deal right now and certainly are the highest rates offered.

Credit Union 1 is advertising regular savings account rates, IRA savings rates, health savings account rates, vacation club savings rates and Christmas club savings rates. The credit union's money market rates are tiered and have rates than the credit union's money market rates.

Current regular savings rates are at 0.25 percent with an APY of 0.25 percent with no minimum opening deposit but you need to have a minimum $50 on deposit to earn the rate and yield. While a 0.25 percent savings rate beats the national average of 0.08 percent there are higher savings rates available at other banks and credit unions. Right now the highest savings rate on our rate list is from CIT Bank at 1.04 percent with an APY of 1.05 percent.

Current money market account balances of $2,500 to $9,999 earn a money market rate of 0.35 percent with an APY of 0.35 percent. Money market account account balances of $10,000 to $24,999 earn a money market account rate of 0.40 percent and an APY of 0.40 percent.

Money market account rates balances of $25,000 to $49,999 earn a money market rate of 0.45 percent with an APY of 0.45 percent. Money market account balances of $50,000 and higher earn a money rate of 0.50 percent with an APY of 0.50 percent.

As with any credit union you have to join Credit Union 1 to open an account. You also have to be eligible to join. Information about joining and the current savings account rates and money market account rates can be found at creditunion1.
Author: Lisa Graham
September 28th, 2012