In Best High-Yield Savings Accounts (3%–5% APY), I listed your most lucrative options for places to stash your savings, mostly available nationwide and offering over 5% APY.
This post contains your next-best account options, offering between 3%–4.59% APY, also available nationwide. Though the rates on these accounts are not as attractive, they have higher limits as well as potentially easier-to-fulfill requirements and fewer (if any) fees.
Not sure how much you should be saving or need a refresher on the nuts and bolts? See Emergency Fund 101. Not sure how credit unions and banks differ? See Credit Unions vs Banks.
Consumers Credit Union Free Rewards Checking – 3.09%–4.59% on up to $10,000–$20,000
* Direct deposit not required
Option 1
3.09% APY on balances up to $10,000
Requirements
• Minimum of 12 debit/check card purchases per month
• Each month, have one direct deposit, ACH debit, or pay a bill with their online bill payment system
• Log in to online banking at least once per month
Option 2
3.59% APY on balances up to $15,000
Requirements
• Same as those for option 1, but you must also spend a minimum of $500 in credit card purchases (no minimum number of transactions required) per month
Option 3
4.59% APY on up to $20,000
Requirements
• Same as those for option 1, but you must also spend a minimum of $1000 in credit card purchases (no minimum number of transactions required) per month
Additional Information (applies to all three account options)
• Unlimited ATM refunds
• Unlimited check writing
Great Lakes Credit Union Ultimate Checking – 3% APY on up to $10,000
* Direct deposit required
Requirements
• Minimum of $500 direct deposit per month
• Minimum of 10 monthly debit card purchases totaling a minimum of $100
• Enroll in eStatements
• Either log in to mobile banking once per month or pay bills with their online bill payment system
Additional Information
• No minimum balance requirement
• No monthly fee
• Up to $5 ATM rebate per month
Lake Michigan Credit Union Max Checking – 3% APY on up to $15,000
* Direct deposit required
Requirements
• Available to those outside of Michigan, but you must make a $5 donation to Amyotrophic Lateral Sclerosis (ALS, also called Lou Gehrig’s disease) Association.
• 10 monthly debit transactions
• Minimum of 10 monthly debit card purchases totaling a minimum of $100
• Log in to online banking a minimum of four times per month
• Set up direct deposit
• Enroll in eStatements
Additional Information
• You’ll get a Mastercard debit card
• No minimum balance requirement
• Refund of up to $15 in ATM fees
• 0% APY on balances exceeding $15,000
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