The Best Credit Unions, 2026
We studied interest rates, fees, premium services and other account features. These credit unions rose to the top.
Chances are, you've been with the same bank for years. After all, it's easier to stick with the checking account you have now than to switch to a new one. But every once in a while, it's worth looking at what else is out there.
Even if you're mostly satisfied with your current bank, you may find that a different one better fits your needs, whether with lower fees, higher interest rates, superior in-person services, or more-attractive premium account packages that layer on the perks as your wealth grows. Or you may choose to stick with your current institution for everyday banking and open a savings account or certificate of deposit at an online bank or credit union, taking advantage of high yields on your extra cash.
You'll find plenty of great options to consider here. With the help of LendingTree, which collects deposit-account information, we've analyzed interest rates, fees, balance requirements and other features of accounts at national banks, credit unions, online banks and regional banks, and we've named winners in each of those categories. We've also highlighted two institutions that may be strong choices for customers in each of four profiles: Retirees, high-net-worth clients, travelers and families with kids.
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For credit unions, we selected three honorees and listed them in alphabetical order. Interest rates change frequently, so before you commit to any of these accounts, check the current yield. Yields and other terms listed here are as of early July.
Unlike banks, credit unions are nonprofit institutions collectively owned by their members. They often have higher yields and lower fees than their for-profit counterparts. Many credit unions serve specific states or regions, but all of our picks offer an option for anyone to join no matter where in the country they live.
Alliant Credit Union
Where it is: Alliant operates online.
How to join: Join the Alliant Credit Union Foundation; Alliant will pay the one-time $5 membership fee on your behalf.
Alliant's free High-Rate Checking comes with a 0.25% yield — a decent rate, considering that most checking accounts don't yield anything, and those that do typically pay less than 0.1%. Customers don't have to worry about many of the fees banks sometimes charge, such as those to replace a lost debit card, and you get a monthly rebate of up to $20 for fees charged if you withdraw money from an ATM outside of the network of more than 80,000 machines you can use fee-free.
The Jumbo High-Rate Checking account earns a 2% yield if you make a direct deposit of at least $5,000 monthly, maintain an average daily balance of $10,000 or more across all your deposit accounts with Alliant, and sign up for electronic statements. Or, if you have at least $2,500 in monthly direct deposits and receive e-statements, you get a 1% yield. Teen Checking earns 0.25%.
For savers, the High-Rate Savings account earns 3.01% with a minimum balance of just $100, as does the Kids Savings account. The Jumbo Savings account comes with a 3.35% yield on a $100,000 minimum balance. The CD rates are generous, too, with a one-year certificate recently yielding 3.75%. The minimum deposit is $1,000.
Lake Michigan Credit Union
Where it is: About 75 branches, mostly in Michigan, with some in Florida.
How to join: Make a one-time, $5 donation to the ALS Foundation.
LMCU's most popular checking account is Max Checking, which has no minimum balance requirement and no monthly fee. It offers a 4% yield on balances up to $15,000 if you meet monthly requirements that include having direct deposits, making at least 10 purchases with your LMCU debit or credit card, logging in to online or mobile banking at least four times, and receiving electronic statements.
There's also the simple Free Checking account; Advantage 50 Checking for members 50 and older, offering a yield up to 0.25%; and Investor Checking, with a yield of 0.15% or 0.2%, depending on your balance (maintain a minimum $2,500 daily balance to avoid the $10 monthly fee).
Max Savings provides a 1.75% yield on balances up to $100,000, and the yield gradually increases to 3.9% for a balance of $1 million or more. The Max Money Market account comes with a 1% yield for balances up to $25,000, with the rate rising to as much as 3.9% for a balance of at least $1 million. There are plenty of CDs to choose from, with yields as high as 3.9%. They require a $500 minimum deposit.
PenFed Credit Union
Where it is: 38 locations across 12 states as well as Washington, D.C., Puerto Rico, the Virgin Islands and Guam.
How to join: Open a Regular Share or Premium Online Savings account and deposit a minimum of $5.
The simple Free Checking account provides customers with fee-free access to more than 85,000 ATMs, as well as the ability to send money via peer-to-peer transfer service Zelle. Access America Checking offers a bit more, including a 0.05% yield on balances of $25 to $50,000 and enhanced rewards on some of PenFed's credit cards. You can easily avoid the $10 monthly fee by setting up a monthly direct deposit of at least $500 or maintaining a daily balance of at least $500.
Savers can opt for Premium Online Savings, which offers a 2.7% yield on all balances for no monthly fee. PenFed also offers CDs with term lengths of six months to seven years; most of them recently yielded 2.9%, with a $1,000 minimum deposit.
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Methodology
With data from LendingTree, which collects deposit-account information, as well as from financial institutions and other sources, we evaluated national banks, credit unions, online banks (including online accounts from brokerage firms) and regional banks. We reviewed checking accounts, savings accounts, money market deposit accounts and certificates of deposit.
We looked at features including interest rates; minimum deposit and balance requirements; monthly maintenance fees and the ease of waiving those fees; ATM benefits, such as waived or reimbursed fees for out-of-network withdrawals; free or discounted benefits, such as personal checks, cashier's checks, paper statements and overdraft-protection transfers; overdraft fees; and online and mobile banking features, such as the availability of peer-to-peer payment services. Yields and other data listed in the article are as of early July.
Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.
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