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?
Yeah, I’m basically where you are now with my mindset.
This CU helped me out during the pandemic, when I was on the struggle bus, but their rates are virtually unchanged since then. It’s pretty much just that and inertia that’s kept me with them so far.
Time to finally move on to somewhere that actually tries to keep up with the market.