bank rates

Top Savings Rates If You Work For Merck

Merck Employees Federal Credit Union is paying 1.635% APY on its savings accounts.If you are one of the more than 90,000 employees of the pharmaceutical giant Merck, the company’s credit union is offering some of the best savings rates in the country.

New Jersey-based Merck Employees Federal Credit Union (www.merckcu.com) is paying 1.635% APY on its regular share accounts, with a $50 minimum deposit and balance.

That beats the best nationally available savings account deal by nearly half a percentage point.

SFGI Direct (www.sfgidirect.com) owns the top nationally available savings account rate of 1.16% APY with a $500 minimum deposit.

The best nationally available money market account offered by AmTrust Direct (www.amtrustdirect.com) and My Banking Direct (www.mybankingdirect.com) pays 1.25% APY.

While Merck’s rates are reserved for its approximately 25,000 members, this institution serves as a reminder there are decent deals out there, particularly from local credit unions. You might just have to work a bit.

While some credit unions restrict membership to certain employee groups, others encompass a particular geographic region, and a handful offer membership to anyone who is interested.

Headquartered in Rahway, N.J., Merck Employees Federal Credit Union has five branches in New Jersey to serve its employees.

You can compare Merck’s rates to 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 August 8th at 08:33 am

    Merck CU’s rate is still available. As noted elsewhere in these posts, SFGI Direct has cut its rate and isn’t accepting new accounts.

  2. Kathy at Bankaholic said:
    on August 14th at 10:32 am

    You can still get Merck CU’s rate.

  3. Kathy at Bankaholic said:
    on August 29th at 10:46 am

    Merck CU’s regular share account rate is still being offered.

  4. Mike Cetera said:
    on October 18th at 04:35 pm

    It’s now paying 1.508% APY.