I am a member of the Boeing Employees Credit Union (BECU) and I have substantial amount of money in the BECU savings account. Currently, BECU is paying out 2.27% APY interest on savings with a minimum of $50, I believe.

Am I getting a good deal on this? Certificate of Deposits usually require a minimum of $10K to get full benefit of 2.27% APY and isn't as liquid as savings which can be used at any time.

Let me know what you think.

BECU's savings rate dropped earlier this month to 2.02% APY. This remains a very good above-market rate - see Money Market Mutual Fund rates at www.imoneynet.com, the national average on non-FDIC-insured money funds is around 1.25%.

A handful of Internet-based banks are currently paying somewhat higher rates than BECU - but RATES HAVE DROPPED in recent weeks because of market conditions. Finding "the highest rate" is a moving target, subject to change without notice. Some above-market FDIC-insured accounts are:

ING Direct Orange Savings Account, 2.75% APY (www.ingdirect.com)

State Farm Bank Savings Account, 2.63% APY (www.statefarm.com/bank)

Zions Bank Internet Money Market, 2.74% APY (http://www.zionsbank.com)

Bank of Internet Savings Account, 2.00% APY (www.bankofinternet.com)

Bank of Internet Boomer Checking (depositors age 40 and up), 2.75% APY (www.bankofinternet.com)

PC Banker e-Checking, 2.00% APY on balances over $10k, 2.65% APY on the first $10k (www.pcbanker.com)

BECU is a reputable organization and has a sterling reputation for member service. They remain a good choice for saving your money, unless you have enough dollars to warrant seeking out one of the choices cited above (all of which could change without notice).

the ones SN mentioned above...looks like they have all dropped their rates and 2.75 is about the highest...

BECU FREE wire transfers for its members. http://www.becu.org/default.asp?pid=chkwiretransfer

They also now offer free Bill Pay for their free Checking Accounts.