I was afraid the rates would be cut, but I was hoping it wouldn't be this big and this soon. I'm afraid we'll probably see more cuts since other accounts managed by Waterfield and Affinity are only between 2.70% and 3.75% (see post).
With the current rate, it's now not much higher than what Alliant Credit Union offers. Since you don't have to worry about the issues of having a middle-man between you and the bank, Alliant's savings account with a 4% APY is looking more attractive (see my Alliant review).
For more details about AARP Financial Savings Center and the the savings and money market accounts, please refer to the following past posts:
- Research into AARP Financial Savings Center
- Update on AARP Financial Savings Center
- Overview of the AARP Financial Savings Center
Thanks to all the readers for noting this change.