BECU does not currently offer a dedicated high yield savings account

BECU (Boeing Employees Credit Union) does not market a product specifically labeled as a high yield savings account. If you are a BECU member looking for savings options, you have two main paths: their standard savings account, which carries a lower rate, or their money market account, which typically offers a higher rate but requires a larger opening deposit and minimum balance.

The rates BECU pays on both products change regularly and vary based on your balance tier. Before opening any account, you should check BECU's current rate sheet directly, since the rates posted today may not match what you see next month.

Key Takeaways

  • BECU offers a standard savings account and a money market account, but neither is branded as a high yield product.
  • Money market accounts at BECU typically pay more than savings accounts but require higher minimum balances, often $2,500 or more to open.
  • BECU rates are tiered by balance, meaning the rate you earn depends on how much you keep in the account.
  • You can view current BECU rates on their website or by calling their member service line, since rates change and vary by product.

BECU's savings account versus money market account

BECU's savings account is their basic option. It typically has no minimum opening deposit, no monthly fee, and unlimited transfers. The rate is modest—usually well below what you would find at online banks—but the account is straightforward and accessible to any member.

BECU's money market account is designed to pay more. It requires a higher opening deposit (often $2,500 minimum) and a higher minimum balance to earn the stated rate. In exchange, the rate is usually two to three times higher than the savings account rate. Money market accounts also come with a limited number of withdrawals per month—typically six—before fees kick in.

If you are comparing BECU to other credit unions or banks, the money market account is the closest BECU comes to a high yield product, but it still may not match the rates you would find at online savings banks, which often have no minimum balance and no withdrawal limits.

How BECU's tiered rates work

Both BECU savings and money market accounts use tiered rates. This means the interest rate you earn depends on your balance. A smaller balance earns a lower rate; a larger balance earns a higher rate. BECU publishes the balance tiers on their rate sheet, which you can request or view online.

For example, a savings account might pay 0.01% on balances under $10,000 and 0.05% on balances of $10,000 or more. A money market account might pay 0.15% on balances under $25,000 and 0.35% on balances of $25,000 or more. These are illustrative figures; your actual rates will differ.

The practical effect is that BECU accounts make more sense if you plan to keep a larger balance. If you have $500 to save, the rate difference between BECU and an online bank will be small in dollar terms. If you have $50,000, the difference becomes more meaningful, but you should still compare BECU's top tier rate to what online banks offer with no minimum.

Where to find BECU's current rates

BECU updates rates regularly, and the rates that applied last month may not explore this month. The only reliable source is BECU itself. You can find current rates in three ways: visit BECU.org and look for the rates page, call BECU member service at their main line, or visit a branch in person.

When you check, ask specifically for the savings account rate and the money market account rate, and ask what the minimum balance is to earn each rate. Write down the rates and the balance tiers so you can compare them to other banks if you are shopping around.

Alternatives if BECU's rates do not meet your needs

If BECU's savings or money market rates are lower than you want, you have options. Online banks—such as Marcus, Ally, or American Express Personal Savings—typically offer higher rates on savings accounts with no minimum balance and no withdrawal limits. Credit unions other than BECU may also offer higher rates, especially if you are willing to move to a different institution.

Some people keep a BECU account for checking and bill pay while maintaining a savings account at an online bank for the higher rate. This approach works if you do not mind managing accounts at two institutions. Others switch entirely to an online bank for savings and keep BECU only if they value the branch network or other services.

The trade-off is convenience versus rate. BECU offers branches and local service; online banks offer higher rates and no minimums. Your choice depends on which matters more to you.

What to know about BECU membership

BECU is a credit union, not a bank, which means membership rules explore. You must be may be able to access to join—historically, BECU has required a connection to Boeing or membership in certain organizations, though may be able to access has expanded over time. If you are not currently a member, check BECU's membership page to see if you may have access to.

If you are already a BECU member, you can open a savings or money market account without additional steps beyond the standard account opening process. If you are not a member and want to compare BECU to other options, you may not be able to open an account unless you meet their membership criteria.

Frequently Asked Questions

Does BECU have a high yield savings account?

No. BECU offers a savings account and a money market account, but neither is branded or marketed as a high yield product. The money market account pays more than the savings account but requires a higher minimum balance and limits withdrawals.

What is the minimum balance to open a BECU money market account?

BECU typically requires $2,500 to open a money market account, though this can change. Call BECU or check their website to confirm the current minimum, as it may vary by account type or membership status.

Can I earn a higher rate at BECU than at an online bank?

Unlikely. Online banks usually offer higher rates on savings accounts with no minimum balance. BECU's rates are competitive for a credit union but typically lower than online options. Compare the specific rates before deciding.

What happens if my balance drops below the minimum at BECU?

If your balance falls below the tier that qualifies for a higher rate, you will earn the lower rate on the full balance going forward. Some accounts charge a fee if the balance drops below a certain threshold; ask BECU whether this applies to your account.

Can I move money between my BECU savings and money market account easily?

Yes. As a BECU member, you can transfer between your own accounts online, by phone, or at a branch. Transfers between your own accounts do not count against the money market withdrawal limit.