bank rates

Texas Deal On Tiered Savings Account

flipping through a stack of $100 billsWe’ve written before about the surprising CD rates at Gulf Coast Federal Credit Union in south Texas.

But this Corpus Christi-based credit union also offers top savings and money market rates.

Many banks and credit unions have taken to capping the balance at which you can earn a top rate. Not so at Gulf Coast FCU, which boosts rates as you add more cash into your accounts.

Keep $10,000 in your Super Share Account, and you’ll earn 0.95% APY. That’s higher than the best nationally available offers from Barclays ( and Salem Five Direct (, which pay 0.90% APY on all balances.

Balances of $50,000 to $99,999 earn 1.00% APY at Gulf Coast FCU, and larger balances earn 1.10% APY.

You’ll see even better rates with an MMA.

The credit union pays 1.00% APY on balances of $10,000 to $24,999, 1.10% APY on balances from $25,000 to $49,999 and 1.15% on balances of $50,000 or more.

While EverBank (, Evantage Bank (, AmericaNet Bank ( and Redneck Bank ( all pay 1.10% APY, that rate is capped at balances of $50,000 at EverBank and $35,000 at the other three.

Gulf Coast President and CEO Gary Rapier told us late last year that there’s fierce competition in the south Texas market for loans and deposits because of the area’s healthy economy and Eagle Ford Shale oil boom.

“We have been over 95% loaned out for several years now, and to attract new deposits and keep our liquidity position in line with our policies, we need to be aggressive with rates,” he wrote to us in an email.

Anyone who lives, works or attends school in Nueces, Jim Wells or San Patricio counties in Texas, or their family members, can join the credit union.

You just need to stop by one of Gulf Coast Federal Credit Union’s three locations and pay a $2.50 membership and open a regular share account with a $5 minimum deposit

Learn more about Gulf Coast Federal Credit Union at or call 800-881-5991.

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