Top-Rated Credit Unions in May 2025
The best overall credit union for most customers is Digital Federal Credit Union, offering low fees and competitive rates. It caters to a variety of banking needs and received the highest overall customer satisfaction score from Investopedia. Here's a look at what Digital Federal Credit Union offers and how to join:
Features of Digital Federal Credit Union:
- Account Types: Digital Federal Credit Union (DCU) boasts many account types, including free checking, savings, money market accounts (MMAs), and certificates of deposit (CDs).
- APYs: DCU offers competitive rates for savings, MMAs, and CDs. However, the high-yield accounts do have limits, earning higher rates for the first $1,000 on deposit.
- Customer Satisfaction: DCU ranked highly in Investopedia's combined customer satisfaction score.
- Fee-Free ATM Withdrawals: There are no fees for out-of-network ATM withdrawals.
- Joining DCU: Membership can be obtained by joining a participating organization with a small donation (starting at $10 for Reach Out For Schools), living, working, worshiping, or attending school in certain Massachusetts regions, working for/retiring from one of hundreds of eligible companies, or having an eligible relative as a DCU member.
DCU's free checking account earns interest, although the rate is relatively low, and it only applies to the first $1,000 on deposit. DCU savings accounts, including the Primary Savings Account, provide higher rates with limits, but other savings accounts and CDs without such limitations also offer above-average rates. Despite its name, DCU maintains brick-and-mortar branches in Massachusetts.
Avoid getting tripped up by the lingo—here's a layman's explanation for some terms:
- APY: Annual Percentage Yield represents the total amount of interest earned on an account in a year.
- MMA: Money Market Account is a type of savings account that often provides a higher interest rate than a standard savings account.
- CD: A Certificate of Deposit is a time deposit account with a fixed interest rate and term.
If you're seeking a high-yield checking account, look into options like Farmers Savings Bank (up to 9.01% APY[5]), Credit Union of New Jersey (6.00% APY[4]), or La Capitol Federal Credit Union (5.75% APY[4]). However, these accounts typically require specific activities, such as a set number of debit card transactions, direct deposits, or minimum balance requirements to achieve the maximal APY[4].
[4] Source: CU Journal[5] Source: Credit Karma - List of High-Interest Checking Accounts
- Digital Federal Credit Union (DCU), the top-rated credit union, offers a variety of account types, such as free checking, savings, money market accounts (MMAs), and certificates of deposit (CDs).
- Their savings accounts and CDs have competitive rates, with DCU's savings accounts, including the Primary Savings Account, providing higher rates with limits.
- Customer satisfaction with DCU is high, as it received the highest overall customer satisfaction score from Investopedia.
- DCU membership is accessible for those who join a participating organization, live, work, worship, or attend school in certain Massachusetts regions, work for/retire from one of hundreds of eligible companies, or have an eligible relative as a DCU member.
- If you're looking for a high-yield checking account, you might want to consider Farmers Savings Bank, Credit Union of New Jersey, or La Capitol Federal Credit Union, but keep in mind that these accounts usually require specific activities for the maximal annual percentage yield (APY).
