Premier Members Credit Union Review: Checking and Money Market Accounts With Zero Monthly Service Fees

Our experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.

Premier Members Credit Union: Overall Credit Union Rating

Premier Members Credit Union: Pros and Cons

Compare Today’s Savings Rates

The Premier Members Credit Union Membership Share Savings is good if you want a savings account with no monthly fee. It pays a low interest rate, though, and you can earn a much higher rate the best online banks.

The Premier Members Credit Union Earn Big Free Checking Account is a good free option, especially if you want to earn interest on the money in your checking account. The account offers a tiered interest rate where you’ll earn higher interest rates on lower account balances. 

To earn competitive rates each month, you must enroll in e-statements, receive $500 in direct deposits, and make at least 25 debit card transactions. If you don’t fulfill the activities each month, you’ll only earn 0.01% APY.

Many institutions require at least $1,000 to open a certificate, but you only need $500 with Premier Members Credit Union.

You might like a Premier Members Credit Union Share Certificate if you’re searching for a short-term fixed-interest account. The credit union notably has a limited-time 10-month CD with a competitive interest rate.  

The Premier Members Credit Union Money Market Account is solid money market account that offers an especially high interest rate on low account balances. You may earn 5.00% APY on balances up to $2,000. 

If you plan to keep more than $2,000 in your account, the rate will vary depending on your account balance. Generally, higher account balances offer lower interest rates.

How Premier Members Credit Union Works

Premier Members Credit Union has 17 branches in Colorado. It’s part of the CO-OP Shared Branch Network, so you have access to over 5,000 shared branches and 30,000 ATMs around the US. You can also open accounts online even if you don’t live in Colorado.

To contact customer service, call Monday through Friday from 8 a.m. to 6 p.m. MT, or Saturday from 9 a.m. to 1 p.m. MT.

The Premier Members Credit Union mobile app has 4.7 out of 5 stars in the Apple store and 4.5 out of 5 stars in the Google Play store.

Your deposits are federally insured by the NCUA for up to $250,000, or up to $500,000 for a joint account. With NCUA insurance, your money is safe even if the credit union shuts down.

How to Join Premier Members Credit Union

Premier Members Credit Union is a credit union, not a bank, so only certain people can become members. The easiest way to become a member is probably by joining Impact on Education, a charity of the Boulder Valley School District. You can join Impact on Education even if you don’t live in Colorado.

For Colorado residents, there are other ways to be eligible for membership:

• Live or work in one of the following counties: Adams, Arapahoe, Broomfield, Boulder, Delta, Denver, Douglas, Elbert, El Paso, Garfield, Jefferson, Larimer, Mesa, Montrose, Pueblo, or Weld
• Be  a student, faculty member, or staff member in either the Boulder Valley School District or Westminster Public Schools
• Be an employee or family member of an employee of Ball Corporation, Boulder Community Health, IBM, Lexmark, or Medtronic
• Be an employee or member of one of 750 organizations the credit union serves (call customer service to ask whether your company qualifies)
• Have a family member who already has accounts with Premier Members Credit Union

When you join, you’ll also need to open a Premier Members Credit Union Membership Share Savings Account.

Premier Members Credit Union Trustworthiness and BBB Rating

Premier Members Credit Union does not have any public controversies.

It is a Better Business Bureau-accredited company. The BBB focuses on consumer trust, and it gives Premier Members Credit Union an A+ rating. A strong BBB score indicates that a company responds effectively to customer complaints, advertises honestly, and is transparent about business practices.

A good BBB grade doesn’t guarantee that you’ll have a smooth relationship with a business, though. You still may want to ask friends and family about their experiences with the credit union, or read online customer reviews.

Premier Members Credit Union vs. Ally

Both institutions pay high interest rates on money market accounts. The best option for you will likely depend on how much money you want to keep in the account. Ally pays the same rate on your entire balance, while Premier Members CU has a tiered rates system that pay you higher rates on lower balances.

Your choice could also come down to what other accounts you want to open. Ally pays a much higher savings interest rate than Premier Members CU. But if you’re strictly for competitive CD rates, Premier Members CU might be more appealing because it has a 10-month limited-time certificate paying 5.25% APY. 

Premier Members Credit Union vs. Affinity Plus Credit Union

Affinity Plus Federal Credit Union has 26 branches in Minnesota. If you don’t live in Minnesota, you can still open accounts online.

Both Premier Members Credit Union and Affinity Plus Credit Union have standout money market accounts with tiered interest rates. Your preference between the two accounts may come down to your account balance. 

Affinity Plus Credit Union has two tiers. On balances up to $25,000 you’ll earn 3.00% APY, and on balances over $25,000 you’ll earn 2.00% APY. 

Premiers Credit Union has seven tiers in its Premier Members Credit Union Money Market Account. You’ll earn the highest interest rate — 5.00% APY — on balances of up to $2,500. Then, the rate will vary depending on how much money you have in the account. Generally, higher account balances offer lower interest rates.

Premier Members Credit Union: Frequently Asked Questions

Laura Grace Tarpley, CEPF

Personal Finance Reviews Editor

Laura Grace Tarpley (she/her) is a personal finance reviews senior editor at Insider. She oversees coverage about mortgage rates, refinance rates, lenders, bank accounts, investing, retirement , and borrowing and savings tips for Personal Finance Insider. She was a writer and editor for Insider’s “The Road to Home” series, which won a Silver award from the National Associate of Real Estate Editors. She is also a Certified Educator in Personal Finance (CEPF).
She has written about personal finance for seven years. Before joining the Insider team, she was a freelance finance writer for companies like SoFi and The Penny Hoarder, as well as an editor at FluentU. You can reach Laura Grace at ltarpley@insider.com.
Learn more about how Personal Finance Insider chooses, rates, and covers financial products and services »

Read more
Read less

Sophia Acevedo, CEPF

Banking Reporter