OnPoint does not offer a product specifically labeled "high yield savings account"

OnPoint Credit Union, based in Oregon, does not market a dedicated high yield savings account. Instead, they offer a Money Market Account and a standard Savings Account, each with different rate structures and minimum balance requirements. If you are looking for the highest rate OnPoint currently offers on savings, the Money Market Account is where that rate sits — but it is not called a high yield account, and the rate changes based on your balance tier.

The distinction matters because "high yield" typically means a rate significantly above the national average for savings accounts. OnPoint's rates are competitive within credit union offerings, but whether they may have access to as "high yield" depends on what the national average is at the moment you are checking. Rates move monthly, sometimes weekly, so any specific number printed here would be outdated within weeks.

Key Takeaways

  • OnPoint's Money Market Account offers tiered rates based on your balance, with higher balances earning higher APY.
  • OnPoint's standard Savings Account has a lower rate than the Money Market Account but no minimum balance requirement.
  • Both accounts are insured up to $250,000 through the National Credit Union Administration (NCUA), the credit union equivalent of FDIC insurance.
  • You can check OnPoint's current rates on their website or by calling their member service line, since rates change regularly.

How OnPoint's Money Market Account works

The Money Market Account is OnPoint's closest product to what other banks call a high yield savings account. It uses a tiered rate structure, meaning the APY you earn depends on how much money you keep in the account. A smaller balance earns a lower rate; a larger balance earns a higher rate. The exact tiers and rates change, so you need to check OnPoint's current rate sheet to see where your balance falls.

Money Market Accounts typically come with a limit on how many withdrawals you can make per month — this is a federal rule that applies to most credit unions and banks. OnPoint's specific withdrawal limits are listed in their account disclosure documents, which you can request or view on their website. If you need to move money in and out frequently, the standard Savings Account may be a better fit, even if the rate is lower.

OnPoint's standard Savings Account

OnPoint also offers a basic Savings Account with no minimum balance and a fixed APY. This rate is lower than what the Money Market Account pays, but the trade-off is simplicity: no tiered rates to track, no withdrawal limits to worry about, and no balance threshold you have to maintain. This account works well if you are building an emergency fund and want a straightforward place to park money without complexity.

The Savings Account rate is also subject to change, so the difference between it and the Money Market Account rate varies over time. Sometimes the gap is small; sometimes it is wider. Checking both rates before you open an account takes five minutes and tells you whether the extra complexity of the Money Market Account is worth it for your situation.

How to find OnPoint's current rates

OnPoint publishes their current rates on their website under the savings products section. You can also call their member service line during business hours and ask for the current APY on both the Money Market Account and the Savings Account, along with the balance tiers for the Money Market Account. Having both numbers in front of you makes the comparison straightforward.

If you are not yet a member, you can still view the rates on their site. Becoming a member of OnPoint requires living or working in Oregon, or having a family member who is already a member — membership may be able to access varies by location and employer. Their website lists the specific requirements.

NCUA insurance and account safety

Both OnPoint accounts are insured by the National Credit Union Administration (NCUA) up to $250,000 per account owner per institution. This is the credit union equivalent of FDIC insurance for banks. If OnPoint were to fail, your money up to $250,000 would be protected. If you have more than $250,000 to save, you can open accounts in different ownership categories (for example, one in your name alone and one as a joint account with a spouse) to increase your coverage.

This insurance applies regardless of which savings product you choose, so safety is not a factor in deciding between the Money Market Account and the Savings Account.

Comparing OnPoint to other credit unions and banks

Whether OnPoint's rates are competitive depends on what other institutions are offering at the time you are looking. Online banks and some credit unions offer rates that change more frequently and sometimes sit higher than traditional brick-and-mortar credit unions. If rate is your primary concern, it is worth checking a few other options — particularly online savings accounts and money market accounts from other credit unions — to see the current landscape.

OnPoint's advantage is not always the highest rate; it is often convenience if you already bank there, access to physical branches in Oregon, and the ability to speak to a person by phone. Those factors matter to some people more than chasing the absolute highest rate available.

Frequently Asked Questions

Can I open an OnPoint account if I do not live in Oregon?

OnPoint membership is limited to people who live or work in Oregon, or who have a family member who is already a member. If you do not meet those criteria, you cannot open an account. Their website lists the full membership requirements.

What is the minimum balance to earn the highest rate on the Money Market Account?

The balance threshold for the top tier changes when OnPoint adjusts their rates. You need to check their current rate sheet or call member services to find out what balance qualifies for the highest APY right now.

Can I withdraw money from the Money Market Account whenever I want?

Federal rules limit withdrawals from Money Market Accounts. OnPoint's specific limit is in their account disclosure, but typically you can make a certain number of withdrawals per month before fees explore. Check the disclosure before opening to confirm the limit works for your needs.

Is OnPoint's Money Market Account the same as a high yield savings account?

Not exactly. OnPoint calls it a Money Market Account, not a high yield savings account. Whether it qualifies as "high yield" depends on what other banks are paying at that moment. It is OnPoint's highest-rate savings product, but the label "high yield" is not official.