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Consumers Credit Union - 2.25% savings account - little to no hoops - possibly Michigan only.

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As a member of this CU, I received an email the other day about this new savings account they were offering. From what I can tell, there are very few strings , and the rate is guaranteed for a year. I am sure there are higher savings rates out there, but for the few amount of hoops you need to jump through, this seems like a great deal.

As an existing member, it took about 5 minutes on the phone to open the account, and about 2 days to transfer my money over. Only req is $2500 min (to earn the higher rate) and max of $250,000 . Unlimited deposits and withdrawals was also a nice feature as well.

This CU is headquartered in Michigan, but it looks like you can open an account online as well. I am not sure if you need to be a resident or not. This is valid for both new and existing accounts.

Enjoy!

https://www.consumerscu.org/perso...ng/savings

T.O.C.

Quote :
Splish Splash Savings
Get a cool 2.25% APY* with a high earning savings account that isn't all tied up.

The Rundown

Earn 2.25% APY* guaranteed for a year so long as you maintain a $2,500 minimum balance
24/7 account access through online and mobile
Unlimited deposits and withdrawals
Free automatic transfers (set up one-time or recurring transfers between your accounts)
Insured by NCUA up to $250,000
Limit one promotional account per household

*APY= Annual Percentage Yield. Promotional product is available and rates are accurate as of 8/1/2019. Rates are variable and subject to change at any time without notice. During the first year, the account will earn no less than 2.25% APY. Offer available on accounts with a minimum balance of $2,500 and a maximum of $250,000. Funds currently on deposit at Consumers Credit Union are not eligible for the promotion. Limit one promotional account per household. Fees may reduce earnings. Federally insured by NCUA.
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Joined Feb 2008
DeAl DoNkeY
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#2
How is it better than Citi 2.36?
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#3
Quote from DealDonkey
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How is it better than Citi 2.36?
I was not really familiar with that offering. In looking over the T.O.C for Citi, A couple of things jump out at me, but I may be misreading it.

1. $4.50 a month fee for going under $500. Probably not a deal breaker, but a difference.
2. I do not see where they guarantee the 2.36% rate
3. You need a linked product like a checking account etc.. which have their own hoops to jump through, otherwise you get a $10 a month service charge.

Again, I may have misread the Citi deal, and I know that Citi has left a bad taste in a lot of people's mouths in the past. I for one have the 2% CC and love it, but had also had a checking acct in the past, and it seemed like a pain.

Is there a SD posting on the Citi deal? I did a quick search and did not find it, but I also have terrible luck searching this site, lol!

Thanks for the addtl data point!

EDIT, link to the citi deal, https://slickdeals.net/f/12790876-citi-accelerate-saving-2-36-apy?v=1&src=SiteSearch

One thing (someone mentioned it also in the posting) to be aware of with opening addtl Citi accounts, you can royally screw up your current Citi logon. That happened to me when I opened the Citi checking, my credit card account was screwed up. And then when I closed the checking, it screwed up my account again. It took many weeks of different CSR's to ultimately get it fixed again. I am now just down to a single Citi product (2% card) and do not dare to try opening another account again!
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Last edited by Cobalt_Blue_FF August 14, 2019 at 08:53 AM.
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#4
Or, jump through minor hoops (8 debit card transactions per month and transfer at least $500 or ACH) and get 4.00% with Orion Credit Union...
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#5
Quote from cccheel
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Or, jump through minor hoops (8 debit card transactions per month and transfer at least $500 or ACH) and get 4.00% with Orion Credit Union...
That is a great rate! IM(VERY)HO, any amount of debit card transactions a month is a deal breaker for me. Do you have a SD link to this offer? thanks!
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#6
marcus gives 2.2 and you dont have to do anything
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#7
Quote from goto35
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marcus gives 2.2 and you dont have to do anything
Technically the only requirement for this is to maintain a 2500 balance. Also they guarantee the rate for a year, which is nice since rates have been rather crazy as of late. Can you provide a link to the offer you mentioned?
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#8
Quote from cccheel
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Or, jump through minor hoops (8 debit card transactions per month and transfer at least $500 or ACH) and get 4.00% with Orion Credit Union...
Earn 4% APY interest on balances up to $30,000* and get premium benefits like free checks and Out-of-Network ATM Fee Reimbursement.
*Annual Percentage Yield (APY) is accurate as of today's date and is subject to change after account opening. Fees may reduce earnings.
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#9
Quote from Cobalt_Blue_FF
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That is a great rate! IM(VERY)HO, any amount of debit card transactions a month is a deal breaker for me. Do you have a SD link to this offer? thanks!
https://orionfcu.com/checking/

I mean, do you guys not use debit cards? How do you buy stuff? LOL
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#10
Quote from cccheel
:
https://orionfcu.com/checking/

I mean, do you guys not use debit cards? How do you buy stuff? LOL
I personally funnel all purchases through my Citi 2% credit card. Technically I could be earning more on special interest rates and the use of a debit card, but it is just easier (again my own personal opinion) to use the flat 2% back. The only other variations I do is pay one bill with my BOA cash rewards card to get the 25$ quarterly bonus, and use my Amex 3% for grocery (was 6% for one year but I did not want to pay the annual fee).
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Quote from Cobalt_Blue_FF
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I personally funnel all purchases through my Citi 2% credit card. Technically I could be earning more on special interest rates and the use of a debit card, but it is just easier (again my own personal opinion) to use the flat 2% back. The only other variations I do is pay one bill with my BOA cash rewards card to get the 25$ quarterly bonus, and use my Amex 3% for grocery (was 6% for one year but I did not want to pay the annual fee).
I mean, I hear you, but at $30K, the difference in 4.00% and 2.2% is like $600! Just use your debit 8 times at a fast food joint or store and you've easily made way more money.
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