Finding a good interest rate for any money you manage to save it's very challenging these days. I have been looking everywhere, small banks, big ones, on line or local. I think I found the best place and I would like to share it with my local readers.
Baxter Credit Union. It is a local Credit Union and, unlike popular belief, you do not have to work at Baxter to be a member. There are a few ways one can become a member. According to their membership eligibility policy, you must submit a membership application and meet at least one of the following criteria: work for Baxter, be a relative by blood or marriage of someone who works there or live or work in one of the following six counties: Lake, McHenry, DuPage, Kane, Cook (north of Rt. 83), Kenosha County in Wisconsin and also the Village of Schaumburg.
Baxter Credit Union offers their members a savings account called Rainy Day Savings. You can open the account with a maximum deposit of $1000 and you are allowed to deposit a maximum of $500 every month after that (and a minimum of $25). After one year of having the account, they offer (at the moment) a 3.00% APY and a 2.96% Dividend Rate. I think that is a lot better offer than any others out there right now.
If you were trying to find a better home for your money than under your mattress, I would really recommend that you take a look at this account and see if it is a good fit for you and your needs. You can do all of your banking online and the fine print is not complicated. For more information visit them at www.bcu.org .
Do you know of any other great places where your money can make you money?