Best Savings Account For Recent Grads & Alumni
By: Conor Keenan Last updated on October 1, 2024
Conor Keenan, co-founder of CompareAccounts.com, is a notable personal finance expert, with work seen in The Wall Street Journal, CNN, Fox News, MSN and Yahoo Finance.
Editorial Independence: Our opinions, reviews, and recommendations are our own and not influenced by financial institutions or partners. Partner commissions keep our site free, but our content remains independent and is not commissioned by any partner or financial institution.
AlumniFi® provides digital banking solutions, financial education, and tailored insights to help college and university graduates transition into the next stage of their lives.
In addition to a high-yield savings account, AlumniFi® members can streamline their student loan payments and monitor their journey toward becoming debt-free through access to Changed.
Best For: Competitive APY From a Credit Union
AlumniFi® Credit Union is committed to empowering its members with accessible financial tools that promote healthy money habits.
Their high-yield savings account currently offers a 4.50% annual percentage yield (APY) with no minimum balance, and up to 5.00% APY on balances over $100,000.
AlumniFi® operates as a trade name of Michigan State University Federal Credit Union, established in 1937 and backed by over $8 billion in assets. Accounts are held at Michigan State University Federal Credit Union, where accounts are federally insured up to $250,000 by the NCUA.
With AlumniFi®, you’ll have access to U.S.-based customer support through phone, email, or their top-rated mobile app.
Enjoy digital banking features, personalized financial insights, and educational resources—all with no monthly maintenance fees.
See AlumniFi’s Secure Site for More Information.
Main Benefits You Get with AlumniFi® High-Yield Savings Account
Competitive APY:
AlumniFi® offers a 4.50% annual percentage yield (APY) with no minimum balance, and up to 5.00% APY on balances over $100,000 on their high-yield savings account.
This APY is substantially higher than what you’ll find at most brick-and-mortar banks and even most online banks.
Low Minimum Balance Requirement:
You can open this savings account online with $0 initial deposit. This makes it super easy to open an account quickly.
When you’re ready, fund your account to take advantage of compound interest and start tackling your financial goals.
No Monthly Maintenance Fee:
Everyone hates fees. They destroy your returns and are just a pain in the neck. Thankfully, AlumniFi® charges $0 monthly account fees.
AlumniFi Customer Service:
With AlumniFi®, you’ll have access to U.S.-based customer support through phone, email, or their top-rated mobile app.
Strong Track Record:
AlumniFi® operates as a trade name of Michigan State University Federal Credit Union, established in 1937 and backed by over $8 billion in assets. Accounts are held at Michigan State University Federal Credit Union, where accounts are federally insured up to $250,000 by the NCUA.
Pay Down Student Loans Faster:
Members can automate their debt payments, including student loans, directly through Online Banking or the AlumniFi app, and track their progress toward becoming debt-free with Changed—completely free, saving $3 per month per member. Less debt. Less stress.
Read to Succeed:
AlumniFi’s regularly updated financial blog offers a wealth of educational content, empowering college and university graduates to expand their financial knowledge and achieve their goals.
APY
(Annual Percentage Yield)
4.50%
- Min. balance for APY: $0
- Min. Initial Deposit: $0
- Monthly Fees: $0
- 4.50% APY
- Up to 5.00% APY with a $100,000 min. balance
- AlumniFi® is a trade name of Michigan State University Federal Credit Union, which was founded in 1937 & has over $8 Billion in assets
- Accounts are federally insured up to $250,000 by the NCUA
- U.S. Based Customer Service Available via Phone, Email or the Mobile App
- 24/7 Online Access to Your Funds
- See Site for Full Details
On AlumniFi's Secure Site,
Federally Insured by NCUA
Open Your New Account with AlumniFi Now
AlumniFi® High-Yield Savings Account: 4.50% APY
Customers Also Viewed These Accounts From Our Partners
While AlumniFi’s high-yield savings account is a compelling choice, it’s crucial to consider other options as well. Different banks offer various features and benefits, and exploring these alternatives can help you find the best fit for your financial needs.
- Checking Account
- No. Fees. Period.
- No Monthly Fee
- No Insufficient Funds Fee
- Fee-Free Overdraft Protection
- Set Up Direct Deposit & Access Funds up to 2 Days Sooner with Early Pay
- Access 60,000+ Fee-Free ATMs
- Send Money with Zelle®
- Debit Card Cashback – Earn 1% Cash Back on up to $3,000 in Debit Card Purchases Each Month
- See Site for Details
On Discover Bank's Secure Site,
Member FDIC
- Checking Account
- Earn up 2% Cash Back on Common Everyday Purchases
- 1% on All Other Purchases
- Earn These Rewarding Cash Back Rates with Recurring Direct Deposits of $1,000+ per Month
- No Monthly Fee
- No Overdraft Fees
- Access to Fee-Free Withdrawals at 55,000+ Allpoint ATMs Nationwide
- Allpoint ATMs are conveniently located in retail locations like Walgreens®, CVS Pharmacy®, Target® & more.
- Set Up a Recurring Direct Deposit & Get Paid Up to 2 Days Early
- U.S. Based Customer Service
- Terms & Conditions Applyⓘ
- See Site for Details
On Upgrade's Secure Site,
FDIC Insured
AlumniFi FAQ
Is AlumniFi FDIC Insured?
AlumniFi’s deposits are federally insured for up to $250,000 by the National Credit Union Association (NCUA) not the FDIC.
Is AlumniFi Legit?
Yes, AlumniFi® operates as a trade name of Michigan State University Federal Credit Union, established in 1937 and backed by over $8 billion in assets. Accounts are held at Michigan State University Federal Credit Union, where accounts are federally insured up to $250,000 by the NCUA.
Conclusion of AlumniFi® Savings Account Review
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*National Savings Rate Average as published by FDIC