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Savings Rates

We are losing investors to other institutions with higher interest rates. I for one have moved large sums of money from BECU to Capital One where I earn 1.85%. We need to find a way to pay our members a better rate.


I, too, have moved money to Capital One for the higher interest rates.


I couldn’t agree more and I am highly considering moving funds somewhere with a much higher rates than what BECU offers.


I certainly understand this but I want to offer a dissenting opinion.  When I put money in a credit union or bank I don't do it for ROI.  I do it for ease of use and accessibility, and when I invest I put it elsewhere anyways, or I put it in a CD instead of my savings.  It's way more important, for me, to know that my money isn't being invested in tobacco companies and hurting my community than to get an extra tenth of a percent.


Rates were very low for many years while the FED tried to ease.  But now rates are rising on fixed income instruments all over the country.  Short term Treasuries and CDs (90 day) are available online now, and they are paying more than 2.00% annually.  


I have had 6 month CDs with BECU for many years, but felt compelled to move them out of BECU recently because the return is so much materially better elsewhere.   I certainly like BECU.  But the riskless return needs to be somewhat closer to what is widely available in the market.   


Example, I just bought a 90 day CD with a 2.25% annual return.  These are very beneficial to retired folks holding cash or near cash, and especially while the general investment market is in bear mode.


Yes, there is a problem brewing for BECU savers and investors.  


People can get significantly better riskless rate fixed income returns elsewhere, AND not only on savings, but also on CDs.  I am not talking about equities here, I am talking about insured fixed income interest.  


MUCH better CDs from FDIC insured institutions are readily available online, perfectly accessible and convenient.  These superior CDs have 90 day, as well as 6 month, and longer durations.  The CDs I most recently switched to have 90 day durations and 2.25% annual rates.  The rates have been improving gradually over the last few quarters because the FED is normalizing rates.  This is a very good thing, especially for retired people.  These CDs are certainly not socially objectionable investments in, for example, tobacco or marijuana, as someone unhelpfully suggested in error.   There is a HUGE difference between a 2.25% annual rate on a 3 month CD, and a 0.75% annual rate on 6 month CD (BECU Advantage rate).  


I like BECU and its community mission, of course, and have owned BECU-CDs for a decade+.  But logically and realisticly, I must move these near-cash FDIC insured funds where they will produce more efficiantly and just as safely and accessibly.  I am even considering buying short duration notes online directly from the US Treasury, without fee or minimum, and with coupons exempted from certain tax obligations too.    



Community Manager

Hi All! Thank you for the spirited conversation about savings and CD rates. Your comments echo those of other members and I can assure you that we're listening and making adjustments where we can to increase return to our members. In fact, on November 16, all BECU 36-month term CD rates (including Business, Member Advantage, Non-Member Advantage and IRA CDs) increased by 0.95%. For an example, a 36 month CD with Member Advantage with a balance between $500-$49,999 is paying an interest rate of 3.00% with an Annual Percentage Rate (APR) of 3.04%. In addition to CD rates, Business and standard Money Market rates for balances above $10,000 have also recently increased. We’ll continue to collect and share your feedback and keep you posted on further interest rate increases! JohnS


To my mind a major problem is that interest rates are so much lower for people who get postal records. I have not had problems with BECU, but I learned long ago that I need to have my records on paper. Electronic records can be updated and corrected and without the paper I have no proof of something I have actually seen. I understand the value of saving paper, but in a case like this it is not a reasonable request. If it is the postage that is the problem, maybe the option should be to pick up our paper records at our branch so that they don't have to be mailed to us?

Community Manager

Hi @normmund

Thank you for your comment. Did you know you can still print out your statements on paper with e-statements? Please feel free to give us a call at 800-233-2328 and we would be happy to walk you through the steps.



I know that I can print out my own statements, but for me it is not a satisfactory option. I do not feel the need to go into detail about this, but one major reason is that I am often out of the country. It is important for me to have the printed statement arrive at the proper time without me having to be personally involved at the correct time every month.