Shopping for a High-Yield Savings Account? Look Beyond Shiny Introductory Offers

When it comes to choosing a high-yield savings account (HYSA), many people are drawn in by flashy introductory offers—those tempting high rates that disappear after a few months. While these offers can be appealing at first glance, it’s important to think about what happens after the introductory period ends. A truly great HYSA will have an introductory offer and long-term benefits that go beyond the promotional window.  

How to spot a HYSA with long-term value  

1. A great, everyday rate 

One of the key long-term benefits of a strong HYSA is a competitive everyday interest rate. While promotional rates may give you a short-term boost, you want a HYSA that continues to deliver even after that promotion fades. A consistently high everyday rate ensures that your money keeps growing steadily over time. By choosing a HYSA with a great base rate, you avoid the frustration of seeing your earnings drop off once the introductory offer ends. 

General Electric Credit Union’s (GECU) Thrive Money Market account offers a competitive rate designed to help you maximize your savings every day. This means that even after any promotional period, your money will continue to grow faster compared to a traditional savings account. 

2. A top-rated Online Banking platform and mobile app 

Convenience is key when it comes to managing your money, and that’s where online and mobile banking come in. A top-rated digital experience allows you to track your balance, make transfers, and deposit funds from anywhere.  

GECU members can access our intuitive Online Banking platform and top-rated mobile app¹ to manage their money market—and other accounts—with ease, whether you’re at home or on the go. This level of accessibility ensures you’re always in control of your finances, allowing you to make the most of your savings. 

3. Access to over 100,000 fee-free ATMs 

Hidden fees can erode the benefits of even the best accounts. With a GECU debit card, you’ll have access to a network of over 100,000 fee-free ATMs nationwide.² Whether you're traveling or just out and about, you can easily access funds from a checking or money market account without worrying about extra charges. This extensive ATM network is a valuable long-term benefit that adds convenience and helps you avoid unnecessary fees. 

• Get even more account access with Interactive Teller Machines (ITMs). Our ITMs offer unrivaled convenience far beyond an ATM. With access to all your accounts—including your money market account and even loans—you can deposit cash or checks, transact between accounts, and more. Choose 24-7 self-service or connect with a Personal Teller for assistance during normal business hours.   

3. Round-Up 

GECU’s Round-Up program offers a simple, automated way to save even more. Every time you use your GECU debit card for a purchase, the transaction is rounded up to the nearest dollar, and the difference is deposited into your GECU savings or Thrive Money Market account. We’ll even match your rounded up funds up to $350 a year!³ To enroll in this program and steadily grow your savings, open both a GECU checking and savings account option.  

While a flashy introductory offer might grab your attention, it’s the long-term benefits that will truly help you grow your savings. GECU’s Thrive Money Market account offers more than just a great rate—it provides you with everyday financial tools like top-notch digital banking and can be paired with a checking account to save on autopilot with Round-Up. Not sure which savings and checking account are right for you? Talk through your options with a GECU team member. Consider scheduling a virtual branch appointment today!