bank rates

Deployed Forces Enjoy A 3% Savings Rate

Marine Federal Credit Union pays this rate up to $25,000.Members of the military heading out on deployment can get a much deserved helping hand through Marine Federal Credit Union, headquartered in Jacksonville, N.C.

Service members who are about to ship out to another country can earn 3.00% on balances up to $25,000 through the credit union’s Deployment Club Savings account.

Any balance above that amount earns 0.05% APY.

You only need to have $5 in the account to earn the top rate, and you need to set up automatic payments to the account each pay day, before you head out on deployment.

The cash and interest will pile up while you’re away.

The money will be transferred to your share savings account on the day you’re expected to return stateside, with a maximum length of 12 months.

The account can be opened in person or online (www.marinefederalhb.org).

Deployment Club Savings accounts are available just to certain service members — in all branches — about to deploy.

Credit union membership itself is open to a broader group.

Membership is open to the military, Department of Defense, certain civilian employees, as well as their family members, at the Marine Corps bases in Camp Lejeune, N.C., and Quantico, Va., and the New River Marine Corps air station in Jacksonville, N.C.

Membership also is open to military personnel or their dependents who are eligible to receive benefits or services from those locations. Employees of certain businesses also can join.

This credit union’s special rate compares to the best national offer of 1.30% APY from UFB Direct (www.ufbdirect.com) with its Airline Rewards Savings account. The account also gives you free airline miles.

UFB Direct is a division of Bank of Internet USA, based in San Diego. It requires a $100 minimum deposit to open an account.

Marine Federal Credit Union has 20 locations, primarily in North Carolina, along with Virginia and South Carolina.

You can compare these offerings with the best money market and savings account rates from scores of banks in our database.

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Comments (4)
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4 Existing Comments
  1. Kathy at Bankaholic said:
    on September 26th at 08:20 am

    This rate is still available.

  2. Kathy at Bankaholic said:
    on October 3rd at 08:28 am

    You can still get this rate for deployed military members.

  3. Kathy at Bankaholic said:
    on October 11th at 09:27 am

    The deal continues.

  4. Kathy at Bankaholic said:
    on October 19th at 08:49 am

    This rate is still being offered.