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?
I’d keep it and open a better savings account or brokerage account for the bulk of your cash. You don’t really need high interest for day to day spending, and you don’t need your extra savings at the same place either.
I personally use a brokerage account for everything, but I also don’t use branch services. If you do and you like knowing the people there, keep the account.