Elements Financial CU: 3.25% APY Savings Guaranteed For 1 Year, 4% APY Rewards Checking

Elements Financial Credit Union has a new promo rate of 3.25% APY on their Helium Savings account. The promo rate is valid for 12 months from your account opening date, and only on “New Money Not Already on Deposit at Elements”. (Technically, it lasts until the 1st of the 12 month after you initial month, so actually between 11 and 12 months.) Valid on balances $2,500 and above. No monthly fee. Current Helium Savings account holders and those with Helium Savings accounts closed less than 90 days are not eligible.

This is an interesting combination because this is a liquid savings account where you can still add or take money out whenever you want, but still enjoy a floor rate of 3.25% APY for a year (usually liquid savings account can also decrease their rate with zero notice). Essentially acts as a 12-month No Penalty CD at 3.25% APY with partial withdrawals and add-on deposits allowed.

There is also a promo rate of 4% APY on their High Interest Checking account. Also for new accountholders only, with the promo APY fixed for 12 months from account opening date. Requires 15 qualifying transactions every statement cycle. Only valid on balances up to $20,000. No monthly fee with electronic statements.

I’m usually not a fan of these “reward checking” accounts, but if you’re already going to open another account there, this might is worth considering. Their definition of qualifying transactions is also less strict than others. The following are qualifying transactions: Debit card purchases, checks, bill payments, ATM withdrawals and ACH withdrawals.

Per DepositAccounts, anyone can join with one-time $5 membership in Tru Direction, a not-for-profit organization dedicated to improving financial literacy. However, I couldn’t find anything about this on their membership page, other than Elements will provide you with $5:

Open an Elements checking or savings account or apply for a loan or credit card. During the application process, we will open you an Elements savings account (that’s the part that makes your membership official). We’ll even put $5 in to get you started — no need to transfer funds from an existing account!

I don’t plan on opening this account myself as I hope others will soon follow (and I’m still waiting to see if some juicy credit union CDs pop up), but this is a top rate right now for liquid savings.

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