Core Insights - Farmers Insurance Federal Credit Union has launched a new 1-year certificate of deposit (CD) offering a 4.25% annual percentage yield (APY), surpassing the previous high of 4.16% [2][9] - The new CD also provides flexible term options of 3, 6, or 9 months at the same 4.25% APY, catering to different savings needs [3][9] Market Comparison - The 4.25% rate positions this CD as the highest available nationwide for 3-month, 9-month, and 1-year terms, providing savers with competitive options [5] - However, for a 6-month term, Connexus Credit Union offers a higher rate of 4.50% on a 7-month CD, while Climate First Bank provides a 4.27% rate for a 6-month term with a lower minimum deposit requirement [6] Importance of CD Rates - Locking in a competitive CD rate is crucial for savers, especially with inflation at approximately 2.7%, as it helps maintain the purchasing power of savings [4] - Longer-term CDs (18 months to 5 years) currently offer rates between 4.00% and 4.20%, which may be beneficial if interest rates decrease in the future [8] Safety Considerations - Deposits in both larger banks and smaller institutions are federally insured up to $250,000 per depositor, ensuring safety regardless of the institution's size [7] Strategic Savings Approach - CDs are best suited for funds that can be set aside for a specific period, allowing savers to secure a fixed return without worrying about rate fluctuations [10] - For more flexible cash needs, high-yield savings accounts, which currently offer rates between 4% and 5%, may be more appropriate, suggesting a mixed strategy could be beneficial for savers [11]

Core Insights - The article discusses the advantages of credit unions over traditional banks, highlighting their member-owned structure, which often results in lower fees, competitive interest rates, and personalized service [1] Credit Union Rankings - The article ranks the top 10 credit unions for 2026 based on various metrics including membership eligibility, fees, customer experience, product offerings, and commitment to social responsibility [2] Individual Credit Union Highlights - **Pentagon Federal Credit Union**: Rated 4.5 stars, it serves nearly 3 million members globally and offers a wide range of financial products with no monthly account fees [3][4][5] - **Alliant Credit Union**: Also rated 4.5 stars, it is an online-only institution with over 900,000 members, known for its fee-free accounts and robust security features [5][6][7] - **Quorum Federal Credit Union**: Rated 4.5 stars, it provides access to over 90,000 surcharge-free ATMs and offers various financial products to over 65,000 members [9][10] - **Consumers Credit Union**: Rated 4 stars, it is recognized for high-yield deposit accounts and has no monthly fees, along with a large ATM network [11][12][13] - **Connexus Credit Union**: Rated 4 stars, it excels in mobile banking with a highly rated app and offers fee-free accounts [14][15][16] - **Navy Federal Credit Union**: Rated 4 stars, it serves 15 million members and is noted for its excellent customer service and extensive branch network [17][18][19] - **Service Federal Credit Union**: Rated 4 stars, it offers various banking products and special savings opportunities for military members [20][21][22] - **Andrews Federal Credit Union**: Rated 4 stars, it operates in multiple states and overseas, providing fee-free accounts and financial management tools [24][25][26] - **Global Federal Credit Union**: Rated 4 stars, it has no minimum opening deposit requirements and serves over 800,000 members [27][28][29] - **First Tech Credit Union**: Rated 3.5 stars, it offers rewards accounts and 24/7 customer service [30][31][32] Credit Union Characteristics - Credit unions are member-owned institutions that focus on serving their members rather than generating profits for shareholders, offering various financial products and services [34] - Membership eligibility varies by credit union, often requiring affiliation with specific groups or organizations [34][35] Methodology for Rankings - The ranking methodology includes over 600 data points across key metrics such as fees, customer service, product selection, security, and environmental responsibility [41][42][43][44][45][46][47][48]

Summary: Connexus Credit Union is a not-for-profit financial cooperative that serves more than 430,000 members across the nation. Its product offerings include deposit accounts, personal loans, home loans, and auto loans. Connexus CU also offers insurance, investment, and financial wellness services to help its members manage debt, improve their credit scores, and more. Connexus Credit Union was ranked as one of our top 10 credit unions for 2026. Connexus Credit Union product overview Xtraordinary Ch ...

Core Insights - The article discusses the importance of selecting the right checking account to avoid excessive fees and highlights the availability of free checking account options that meet essential banking needs [1][2]. Group 1: Best Free Checking Accounts - The article compares over 20 checking accounts from FDIC or NCUA-insured institutions, focusing on those with no monthly fees or minimum opening deposits [2]. - Ally Spending Account is noted as the best all-around checking account, offering zero minimum deposit, no monthly or overdraft fees, and interest-earning capabilities [3][4]. - SoFi Online Checking Account is recognized for its competitive interest rate of 0.50% APY, significantly higher than the national average, and offers a high-yield savings account bundled with it [5][6][9]. - Connexus Credit Union Xtraordinary Checking Account is highlighted for its high rates and no minimum balance requirement, along with access to over 67,000 fee-free ATMs [10][11]. - Capital One 360 Checking Account is praised for its robust mobile experience and offers an APY of up to 5% with no monthly fees [13][14][17]. - NBKC Everything Account stands out for its competitive 1.75% APY and no minimum balance requirement, providing a combination of checking and savings features [18][19]. - Axos Bank Essential Checking Account is noted for its extensive ATM access and unlimited fee reimbursements for out-of-network ATMs [20][21]. - American Express Rewards Checking Account offers a competitive 1% APY and rewards points on debit card purchases, appealing to existing Amex cardholders [25][26]. - FNBO Premier Checking Account is designed for customers maintaining a higher balance, requiring an average daily balance of $15,000 to avoid fees [28]. - Discover Bank Checking Account is recognized for its cash-back rewards system, allowing account holders to earn 1% cash back on debit card purchases [30][35]. Group 2: Key Features and Considerations - The article emphasizes the importance of understanding account fees, ATM access, and customer service options when selecting a checking account [41]. - It outlines the process for opening a checking account, which typically includes choosing a bank, gathering necessary documents, filling out an application, and funding the account [42][47]. - The article explains that free checking accounts generally do not charge monthly maintenance fees and are designed for everyday financial management [42]. - It highlights that many free checking accounts come with debit cards and may offer overdraft protection as an optional service [44][46].