Cedar Rapids Savings Account Rates: Banks Versus Credit Unions

Both community banks and credit unions have garnered reputations as sources of excellent interest rates, which is great to know when you’re looking for the highest rate on your Cedar Rapids savings account. Of course, only one financial institution in the city can have the very best interest rate of all, and you probably want to know where that is. Is it the nearby bank or your community credit union? You’re about to find out.

Below is a list of the best savings account rates in Cedar Rapids, IA, split up by credit unions and banks. Did your financial institution make the list?

Cedar Rapids Banks with the Highest Savings Rates

• Corridor State Bank: 1%
• Farmers Savings Bank Walford: 0.5%
• Community Savings Bank: 0.5%
• Farmers & Merchants Savings Bank IA: 0.5%
• First State Bank: 0.5%

Credit Unions in Cedar Rapids with the Best Savings Interest Rates

• Quaker Oats Credit Union: 0.6%
• Iowa Community Credit Union: 0.5%
• Collins Community Credit Union: 0.35%
• Ascentra Credit Union: 0.3%
• Midwest Federal Employees Credit Union: 0.25%

Please note that these rates are accurate as of 6/17/11, but are subject to change at any time.