How Do You Compare Credit Union Savings Account Interest Rates?
It is important to compare credit union savings account interest rates to earn the most income that you can on your savings. If you are saving for college, a new home or retirement, every penny you can earn in interest will take you closer to your goal. Credit unions typically pay higher interest rates on savings than banks because they are member owned. There may be several types of savings accounts available at your credit union depending on your financial goals. How do you compare credit union savings account interest rates? Make a list of the types of savings account interest rates that you will be comparing with one another to ensure that they are the same type of accounts. Make a separate column for each credit union. Actual interest rates vary depending on the type of savings account, which may have minimum deposit requirements or limited withdrawals allowed. Accounts that offer higher interest rates may charge penalties for early withdrawals, too many withdrawals or going below
