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?
Can’t you open an account with another bank/co-op/credit union, see if their perks are as good as advertised, and then decide if you want to move?
This isn’t a marriage. It’s where you get a bank card from. Try before you buy, etc.
Yeah, I am probably overthinking it. I’ll check around and open a trial account or 2 to see how good the places I’m thinking about moving to are.
You can have a lot of accounts open lol there’s no need to close your current CU account for the most part. Some banks/CUs do have minimum balances or a monthly fee if below that but lots don’t, just double check the terms for yours
I personally have savings accounts (And sometimes checking too) at like 3 CUs and a handful of banks lmao