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Harborstone Credit Union may have a small footprint, but it has a lot to offer. The credit union has everything from checking accounts to credit cards and loans, as well as a variety of business services. See all it has to offer -- and how you can join -- in our full Harborstone Credit Union review.
If you're a Seattle local, Harborstone Credit Union could be a solid pick for your everyday banking. Overall low APYs make most of Harborstone's savings products a miss, however.
This credit union has several savings options depending on your needs. While none of the accounts have a monthly fee, they all also have low APYs.
Every member of Harborstone Credit Union opens this basic savings account, which represents your "share" of the credit union. You'll need to pay a one-time $5 membership fee when you open the account. Other than that, there's no monthly account fee and you only need $5 to open.
A designated savings account meant just for holiday funds. You can save all year, then, on Nov. 1, Harborstone will automatically move the money to your checking account. The downside? If you withdraw before then, you'll be stuck with a $10 early-withdrawal fee.
This no-fee savings account is designed to work alongside your other savings accounts so you can save for specific goals. It has the same $5 minimum opening balance as other accounts, but no minimum balance to keep it open. You can transfer between savings accounts as much as you like.
Folks 17 years and younger can use this account to start learning about savings. It includes an ATM card and the one-time membership fee is waived. There must be an adult joint account holder present to withdraw money until the minor is 18 years old.
If you're joining Harborstone Credit Union for the first time and you're age 50 and up, you can get a Jet Set Savings account. The one-time membership fee is waived with this account, though you will need to pay a $12 annual fee. Benefits go beyond your savings account, however, as Jet Set Club perks include higher interest on certain CDs, free money orders, discounts on safe deposit boxes, and more.
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
Account | APY | Promotion | Next Steps |
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Open Account for SoFi Checking and Savings
On SoFi's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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up to 4.50%²
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
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New customers can earn up to a $300 bonus with qualifying direct deposits!¹
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Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
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Open Account for UFB Portfolio Savings Account
On UFB's Secure Website.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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5.15%
Rate info
To ensure you keep getting the highest rate at UFB, you'll need to keep an eye on their rates. Occasionally, the bank launches new accounts with higher rates. Existing accounts need to contact the bank to request being moved to one of these new accounts.
Min. to earn: $0
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N/A
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Open Account for UFB Portfolio Savings Account
On UFB's Secure Website. |
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Open Account for Capital One 360 Performance Savings
On Capital One's Secure Website.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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4.25%
Rate info
See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of April 11, 2024. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
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N/A
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Open Account for Capital One 360 Performance Savings
On Capital One's Secure Website. |
You have a variety of deposit types and lengths from which to choose.
These standard certificate of deposit (CD) accounts have terms that range from 6 to 60 months, though you'll get the best rates for 12- to 17-month CDs. You'll need a $500 minimum deposit.
Jumbo CDs are similar to regular CDs, but with much larger balances. You'll need at least $50,000 for these accounts. Terms range from 6 to 23 months, with the best rates paying out for the 12- to 17-month Jumbo CDs.
A Flexible CD from Harborstone includes an add-on option (the ability to add more money after opening), as well as a once-per-term bump-up option (increase your rate). Terms range from 12 to 36 months, with shorter terms offering better starting rates.
Some of the shorter CDs from Harborstone come with respectable rates, but they're still not competitive with some of our top picks. Take a look at the rates from some of our favorite banks.
Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
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Member FDIC.
| APY: 4.60% | Term: 1 Year | Min. Deposit: $2,500 |
Open Account for Discover® Bank CD
On Discover Bank's Secure Website. |
Member FDIC.
| APY: 5.10% | Term: 10 Months | Min. Deposit: $2,500 |
Open Account for
On Secure Website. |
Member FDIC.
| APY: 5.10% | Term: 6 Months | Min. Deposit: $500 |
Open Account for
On Secure Website. |
Harborstone has four different checking accounts to choose from, three of which have no monthly fees. They all require at least $25 to open.
This simple checking account has no monthly fee and an (albeit very low) APY on your balances. You can unlock extra perks by meeting these qualifications:
If you qualify, you'll get a higher interest rate (which is remarkably competitive for a checking account), as well as $10 in ATM surcharge reimbursement each month. Higher rates apply only to balances up to $4,000.
If you don't like the complexity of the BreakFree account, this may be a better pick. You pay no monthly fee, get up to 10 ATM surcharges reimbursed per month, and earn interest on your balance. Rates are based on your balance, with the highest applying to accounts with balances of $10,000 and up. (Even at the top tier, however, rates are very low, so definitely not the best place for your savings.)
If you've made some banking mistakes in the past, you may struggle to get a new checking account now thanks to your ChexSystems report (similar to a credit report, but for bank accounts). The Harborstone Credit Union Unlimited Potential Checking is designed to help people who need a fresh banking start. This account has a monthly fee, but you still get the first 10 ATM surcharges reimbursed.
Having their own bank account can help teach teens how to manage money responsibly. This account is designed for 13- to 17-year-olds and has no monthly fee. You have an option to get a debit card, and the first 10 ATM surcharges a month are reimbursed.
We recommend comparing checking accounts to make sure you're getting the best fit for you. Here's a list of our favorite accounts.
Account | APY | Promotion | Next Steps |
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Open Account for Discover® Cashback Debit
On Discover Bank's Secure Website.
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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0%
Min. to earn: N/A
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Earn 1% cash back on up to $3,000 in debit card purchases each month (see details when you click 'Open Account')
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Open Account for Discover® Cashback Debit
On Discover Bank's Secure Website. |
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Open Account for Quontic High Interest Checking
On Quontic's Secure Website.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
up to 1.10%
Min. to earn: $1
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High APY when you complete 10 or more qualifying debit card purchases each month
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Open Account for Quontic High Interest Checking
On Quontic's Secure Website. |
Opinions on Harborstone Credit Union seem to vary depending on which part of the internet you ask. Harborstone has an A+ from the Better Business Bureau (BBB). The credit union offers a lot of customer service options, including email, social media, phone, and in-person support. The Harborstone Credit Union mobile app seems very popular, and it has 4.8-star and 4.6-star out of 5-star ratings from the App Store and Android Store, respectively.
Harborstone Credit Union offers a Benefits Plus program, which unlocks a variety of deals on partner services like travel, entertainment, and even prescription discounts. Benefits Plus requires enrollment to activate. The service is free if you have an Ultimate Value Checking account, but it will cost you $2.50 a month otherwise.
There's a lot to be said for the community feel of a local credit union. But there are a lot of services and amenities that are just better at bigger banks -- like, say, a competitive APY on your savings. If you're in the market for something a bit, well, more, try out some of our alternative picks.
If you want a bank that's known for customer service, Discover® Bank could be the right pick. It's an online-only bank -- so no branches -- but Discover still consistently ranks high for customer satisfaction year after year. Savings and CD rates are mostly competitive, and many accounts have no monthly fees.
Folks who want to get a high APY across the board may want to look into Quontic Bank. It offers a variety of accounts, including competitive-rate checking and savings accounts. (As with Harborstone, you'll get the best rate from the checking account if you use your debit card frequently.) An online bank, Quontic doesn't have any physical branches, but it offers multiple means of contact for customer service.
Harborstone Credit Union could be a good choice if:
For such a small credit union, Harbostone has a huge variety of products on offer to its members.
Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.
These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.
We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.
Learn more about how The Motley Fool Ascent rates bank accounts.
All of Harborstone's 13 branches are located in the greater Seattle/Tacoma metro area.
Any resident of Washington State may join Harborstone.
Yes, Harborstone Credit Union accounts can utilize Zelle through the mobile app.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.