Dedicated to Deposits: Deals, Data, and Discussion
About Ken Tumin About Ken Tumin - Founder and Editor

Ken Tumin founded the Bank Deals Blog in 2005 and has been passionately covering the best deposit deals ever since. He is frequently referenced by The New York Times, The Wall Street Journal, and other publications as a top expert, but he is first and foremost a fellow deal seeker and member of the wonderful community of savers that frequents DepositAccounts.

Featured Savings Rates

Popular Posts

Featured Accounts

Best Deals Often at Credit Unions - an Update to the All-Access List

POSTED ON BY

In the last few months I've come across several credit unions that have made it easy for anyone to qualify for membership. These credit unions have added associations to their fields of membership which allow anyone to join. Once you join the association, you are then eligible to join the credit union. I call these all-access credit unions.

New all-access credit unions give savers more options for higher CD, checking and savings account rates. Yesterday I reported on an all-access credit union offering a 2% 5-year CD. Back in July I reported on an all-access credit union with top 2-year and 3-year CD rates (which are still available). There are also good checking account deals. In July and last week I reviewed two all-access credit unions with competitive reward checking accounts.

As you might expect, banks consider this as unfair competition since credit unions receive tax breaks. This 2010 New York Times article reported on this issue and the history of how large credit unions like PenFed evolved into an open membership. In my opinion, this supposed unfairness pales in comparison with the unfairness of today's suppression of interest rates.

To learn more about these all-access credit unions and to see a list of them, please refer to my post The Big List of Credit Unions Open to Anyone.

I just added the following 6 credit unions to this big list:

If you have come across other all-access credit unions that are not on the list, please leave a comment. As I described in the big list post, there have been cases when credit unions have added membership restrictions. So some credit unions may need to be removed from the list. The more credit unions that make it easy to join, the more competition will exist and the more it helps savers. As we all know, savers need all the help they can get in this awful interest rate environment.


Related Posts

Comments
3 comments.
Comment #1 by pearlbrown posted on
pearlbrown
Thanks for compiling this great list and keeping updated, Ken.

Please add Schools Federal CU in LA.  Aside from employment with local school districts and colleges, one can also become a member by joining one of two organizations:  the Parent Counsel and the Boys & Girls Club of East LA. 

4
Comment #2 by Anonymous posted on
Anonymous
IT SAVES THE READERS ALOT OF TIME AND RESEARCH, WHEN YOU FIND THE CREDIT UNIONS THAT ALLOW US TO JOIN BY JOINING ASSOCIATIONS.  THANK YOU. 

9
Comment #3 by Paoli2 posted on
Paoli2
The Big List of Credit Unions Open to Anyone Comments (32)     This is a great list given to us by Ken earlier.  I found it very helpful.

3