this post was submitted on 13 Dec 2023
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Should I leave my credit union over account interest rates? (sopuli.xyz)
submitted 11 months ago by [email protected] to c/[email protected]
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TL;DR: Credit union account rates low, I moved, and even though the app and co-op network are great, not sure if I should leave.

So, I've been with a certain credit union for years. But, to be honest, compared to some other credit unions out there (or even banks), it has pretty lackluster rates across the board.

I moved recently and that's given me cause to think about closing it, despite the great app and co-op network basically working regardless of where I am.

0.2% on checking, 0.45% on savings, and about 0.9% on a money market account with a $1000 minimum.

It's got great customer service. I'm on a first name basis with the people there, but I feel like, even with just checking and emergency savings, I'm leaving money on the table.

Is it worth leaving for some of those advertised 4 and 5% checking and savings accounts other places offer?

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[–] [email protected] 2 points 11 months ago

Just keep it open. Can't hurt. I've got accounts at 3 credit unions (1 online, 2 local). Being in the military years ago, I saw a lot of people who's accounts were hacked and how much it sucks to have no money at all, so I don't keep all my money in one place.