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High-Yield Savings

4.15% APY on every dollar from the first one. No tiers, no minimum, no expiring promotional window.

Open an Account See Today's Rates

A savings account with only three rules

One rate for every balance, from $40 to $400,000 →
Dividends compound daily and post month-end →
No monthly fee and no minimum balance →

The rate is the same for everyone because the members own the place

Summit has been member-owned since 1948, and the 412,000 people who bank here are the shareholders. There is no outside investor waiting for a cut, so earnings go back into rates. That is why one 4.15% APY tier replaces the usual seven-row grid.

Deposit rates

What a balance earns over twelve months

Illustrative growth on an untouched balance at 4.15% APY, compounded daily.

Starting balance Dividends earned Balance after one year
$500 $20.85 Enough to cover a year of overdraft insurance
$1,000 $41.70 A typical first emergency-fund milestone
$2,500 $104.25 Same rate as every other balance on this list
$5,000 $208.50 Roughly one month of expenses for many households
$10,000 $417.00 Dividends alone exceed the 1099-INT threshold
$25,000 $1,042.50 Still no tier change and no minimum requirement
$50,000 $2,085.00 Fully NCUA insured under a single ownership
$100,000 $4,170.00 Compare against a laddered certificate strategy

Rates current as of July 2026 and subject to change. Figures assume no deposits or withdrawals during the year. Membership eligibility required. This is a demonstration website; rates, products, and figures shown are illustrative only.

Savings calculator → Compare to Money Market → Compare to certificates →
How the account works

Everyday mechanics, stated plainly

The rules that govern deposits, transfers, and access to your money.

Daily compounding We apply the daily periodic rate to your end-of-day balance and hold the result in a running total. That total is credited on the last calendar day of each month, and from then on it earns dividends too.
Deposits start earning immediately A transfer that lands on the 19th earns from the 19th. Nothing is prorated away for arriving mid-month, and there is no waiting period before a new deposit counts.
Six free outbound transfers Online and pre-authorized transfers out of savings are free six times a month. The seventh and any later one costs $2, and the counter resets on the first.
Branch and ATM access is unlimited Withdrawals at a teller window, at any of 85,000 surcharge-free ATMs, or at 5,600 shared branches never count against the six-transfer limit.
Automatic saving on payday Schedule a recurring transfer from Free Checking for the day your deposit lands. Members who build a reliable emergency fund almost always do it this way rather than by intention.
Federally insured Deposits are insured by the National Credit Union Administration to at least $250,000 per member. Joint and trust ownership categories are insured separately, which raises the total coverage.
Common questions

Before you open a savings account

Is 4.15% APY a promotional rate?

No. There is no introductory window and no step-down date written into the account. It is a variable rate, so it can move with market conditions, and any change is posted on our rates page before it takes effect.

Do I need a checking account to open savings?

No, but you do need to be a member, which takes a $5 share deposit. Many members pair High-Yield Savings with Free Checking so payday transfers post instantly instead of taking a business day.

Is there a maximum balance that still earns 4.15%?

No cap applies. Balances above the NCUA insurance limit still earn the same rate, though we usually suggest talking with a branch about titling or a certificate ladder once you pass $250,000.

How quickly can I get to the money?

Transfers between your own Summit accounts post the moment you submit them, any hour of the day. Transfers to an outside institution settle in one to three business days, and cash is available at a branch or ATM the same day.

When would a certificate make more sense?

When you know the date you need the money and will not touch it before then. Certificates lock a fixed rate for the term, while savings stays variable but stays reachable. Members often split the difference and keep three months of expenses liquid.

Start earning this week

Opening savings online takes a few minutes and a $5 share deposit. Or stop by any of our 42 branches and a person will do it with you.

Become a member →
Pair it with Free Checking →
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