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Premier Members Credit Union has branches in Colorado, or you can bank online.
Premier Members Credit Union; Rachel Mendelson/Insider
The bottom line: Premier Members Credit Union Membership Share Savings Account is a good choice if you’re looking for a high-yield checking or money market account. We’ve included it in our guide of the best money market accounts. You’ll need to look elsewhere to earn the best rates on a savings account or certificate, though.
Overall bank rating
FeatureInsider rating (out of 5)Savings4Checking4.5CD4Money market account4Trustworthiness5Total4.3
Pros and cons
ProsCons
Pays high interest rates on money market and checking accounts
No monthly service fees
Free overdraft protection
Large shared branch and ATM network
Pays low interest rate on savings, and you may find higher certificate rates elsewhereCompounds interest monthly, not daily
Premier Members Credit Union Membership Share Savings Account
Premier Members Credit Union Membership Share Savings Account is good if you want a savings account with no monthly fee. It pays a low interest rate, though, and you can earn a much higher rate at other online banks.
Premier Members Credit Union Earn Big Free Checking Account
The Premier Members Credit Union Earn Big Free Checking Account is a good free option, especially if you want to earn interest on the money in your checking account. You’ll earn the highest rate on balances under $2,000, and rates are still competitive on balances of $50,000 or less.
To earn the competitive rates each month, you must enroll in e-statements, receive $500 in direct deposits, and make at least 25 debit card transactions.
Premier Members Credit Union Share Certificate
Many institutions require at least $1,000 to open a certificate, but you only need Premier Members Credit Union Share Certificate with Premier Members Credit Union Share Certificate. You’ll earn above-average interest rates, but you could still get better with other online banks.
Premier Members Credit Union Money Market Account
The Premier Members Credit Union Money Market Account is in our guide of the best money market accounts. It pays high interest rates, especially on balances of $10,000 or less.
How Premier Members Credit Union works
Premier Members Credit Union Membership Share Savings Account has 13 branches in Colorado. It’s part of the CO-OP Shared Branch Network, so you have access to over 5,000 shared branches and 30,000 ATMs around the US. You can also open accounts online even if you don’t live in Colorado.
To contact customer service, call Monday through Friday from 8:00 a.m. to 6:00 p.m. MT, or Saturday from 9:00 a.m. to 1:00 p.m. MT.
The Premier Members Credit Union mobile app has 4.8 out of 5 stars in the Apple store and 4.7 out of 5 stars in the Google Play store.
Your deposits are federally insured by the NCUA for up to $250,000, or up to $500,000 for a joint account. With NCUA insurance, your money is safe even if the credit union shuts down.
How to join Premier Members Credit Union
Premier Members Credit Union is a credit union, not a bank, so only certain people can become members. The easiest way to become a member is probably by joining Impact on Education, a charity of the Boulder Valley School District. You can join Impact on Education even if you don’t live in Colorado.
For Colorado residents, there are other ways to be eligible for membership:
Live or work in one of the following counties: Adams, Arapahoe, Broomfield, Boulder, Delta, Denver, Douglas, Elbert, El Paso, Garfield, Jefferson, Larimer, Mesa, Montrose, Pueblo, or WeldBe a student, faculty member, or staff member in either the Boulder Valley School District or Westminster Public SchoolsBe an employee or family member of an employee of Ball Corporation, Boulder Community Health, IBM, Lexmark, or MedtronicBe an employee or member of one of 750 organizations the credit union serves (call customer service to ask whether your company qualifies)Have a family member who already has accounts with Premier Members Credit Union
When you join, you’ll also need to open a Premier Members Credit Union Membership Share Savings Account.
Premier Members Credit Union trustworthiness and BBB rating
Premier Members Credit Union does not have any public controversies.
It is a Better Business Bureau-accredited company. The BBB focuses on consumer trust, and it gives Premier Members Credit Union an A+ rating. A strong BBB score indicates that a company responds effectively to customer complaints, advertises honestly, and is transparent about business practices.
A good BBB grade doesn’t guarantee that you’ll have a smooth relationship with a business, though. You still may want to ask friends and family about their experiences with the credit union, or read online customer reviews.
How Premier Members Credit Union compares
We’ve compared Premier Members Credit Union to two other institutions that made our best money market accounts guide: Ally and Affinity Plus Federal Credit Union.
Premier Members Credit Union
Ally Bank, Member FDIC
Affinity Plus Federal Credit Union
Money market account APY
Premier Members Credit Union Money Market Account
Money market account APY
Ally Money Market Account
Money market account APY
Affinity Plus Federal Credit Union Superior Money Market Account
Savings APY
Premier Members Credit Union Membership Share Savings Account
Savings APY
Ally High Yield Savings Account
Savings APY
Affinity Plus Federal Credit Union Membership Savings Account
Premier Members Credit Union Membership Share Savings AccountAlly High Yield Savings AccountAffinity Plus Federal Credit Union Membership Savings Account
All three institutions pay high interest rates on money market accounts. Ally pays the same rate on your entire balance, while Premier Members CU and Affinity Plus FCU both have tiered systems that pay you higher rates on lower balances.
For a money market account, you’ll probably prefer Premier Members CU if you only plan to keep a few thousands dollars in your account, because then you’ll earn the highest rate. But Affinity Plus FCU pays a competitive rate on balances up to $25,000.
Your choice could also come down to what other accounts you want to open. Ally pays a much higher savings interest rate than the other two, and Ally and Affinity FCU have stronger CDs than Premier Members CU.