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CDs, Checking, Savings All Good At Workers’ Credit Union in Massachusetts

Workers’ Credit Union offers a wealth of good rates on savings, checking accounts and CDs for residents of Massachusetts and southern New Hampshire.

The credit union, based in Fitchburg, Mass., offers yields comparable to the best nationally available deal for its online and student savings accounts, while its 3- and 5-year certificates of deposit top the best offers on our CD Rates Leaderboard.

Indeed, it’s unusual for a bank or credit union to offer competitive rates across multiple kinds of deposit accounts.

Workers’ Credit Union ( pays 1.50% APY on its 36-month CD with a $25,000 minimum deposit. For a 60-month CD, you’ll earn 2.00% APY with a minimum deposit of at least $25,000.

However, if you want to get the top rate, you must also have a checking account with the credit union and receive at least one payroll or Social Security direct deposit per month. Otherwise your yield will be a quarter of a percentage point lower.

But if you can put up with some requirements, you’ll also earn a good rate on checking.

Its Xtreme Checking rewards account pays 2.00% APY on balances up to $25,000.

The account has the usual rewards checking requirements — make 12 debit card transactions per month, have one direct deposit or automatic debit, and sign up for eStatements. Any portion of your balance greater than $25,000 earns 0.75% APY. And if you fail to meet the requirements one month, you’ll earn 0.10% APY.

On the savings front, the credit union pays 1.00% APY for cuSave, an online savings account. It takes a $500 minimum deposit to open the account, but you only need to keep $50 in it to earn interest. The account must be opened online, and you also must receive eStatements.

And the credit union pays 1.01% APY on its Student Savings account, which takes just $25 to open. The account is available to full-time students between the ages of 16 and 25, and the account must be opened in person.

If you don’t live within the credit union’s footprint, CIT Bank ( offers the top nationally available rate of 1.05% APY for its savings account, but that requires a deposit of at least $25,000. Otherwise you’ll earn 0.90% APY.

You can join Workers’ Credit Union if you live in Massachusetts or southern New Hampshire, or you work for a company based in Massachusetts. The credit union has 14 locations in Massachusetts, including two in high schools.

Compare these accounts with the best cd rates and savings account rates in our database.

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One Existing Comment
  1. Kathy at Bankaholic said:
    on August 31st at 08:36 am

    Workers’ still pays the savings and checking rates reported here, but its CD rates have dropped. The 60-month CD now pays 1.76% APY and the 36-month CD pays 1.35%.