High interest checking and savings accounts are obviously a better deal for anyone with a bank account but many people are unsure of where to find these types of accounts. More than likely a bigger bank will not have many practical options for high interest accounts so more and more banking customers are looking to credit unions.
Credit unions don’t have customers, but rather, you must become a member if you wish to do your financial businesses with a specific credit union. Also, credit unions are usually non-profit so they are only looking out for the interests of their members.
Many credit unions are going to be able to offer higher interest rates on checking and savings accounts because they are not in the same types of financial businesses that big lenders practice and they are not beholden to shareholders to constantly produce profits.
Getting a higher interest on a checking or savings account can be beneficial, but if you are looking for a credit union that offers these accounts and there are different credit unions in your area, make sure you compare your options to get the best deal and also see what other services they offer.