The financial institution you choose to work with can accelerate your financial journey or take the wind out of your sails. Ideally, you’ll find a place to stash your savings that combines a (relatively) high APY and low fees.

StagePoint Federal Credit Union has accounts that can help you push your finances in a positive direction. With products that offer high APYs and few fees, this credit union could help you put your savings to work. In this review, we will take a closer look at what StagePoint Federal Credit Union has to offer.

What Is StagePoint Federal Credit Union?

StagePoint Federal Credit Union is a Wyoming-based financial institution that has been around since 1935. The credit union serves Albany, Carbon, Converse, Laramie, Natrona, Platte, and Sweetwater counties in Wyoming and Jackson, Larimer, Routt, and Weld counties in Colorado.

While the credit union has physical branches in Wyoming, membership is available to anyone. Since you can conduct business with this credit union online, you might choose to work with StagePoint even if you don’t live in the area.

What Does It Offer?

StagePoint Federal Credit Union offers a wide range of personal and business banking products. On the personal side, this includes savings accounts, checking accounts, credit cards, home equity loans, mortgages, personal loans, student loans, vehicle loans, and more.

For the purposes of this review, I will focus on the personal deposit products available through StagePoint Federal Credit Union.

Money Market Account Through Raisin

StagePoint Federal Credit Union offers a money market account in partnership with Raisin. As of writing in November 2023, the account offers a 5.00% APY. While that’s not the highest rate available, it is very competitive when compared to other money market accounts. The account comes with no monthly fee and only requires a minimum opening deposit of $1.

The credit union also offers a money market account not connected to Raisin. This account offers a tiered APY, which is broken down below:

• Account balances of at least $2,500 earn a 0.50% APY.
• Account balances between $15,000 and $50,000 earn a 0.75% APY.
• Account balances between $50,000 and $100,000 earn a 1.00% APY.
• Account balances between $100,000 and $250,000 earn a 1.50% APY.

A final option, the Money Market Maximizer, offers a 5.05% APY on balances of at least $150,000.

Savings Accounts

The credit union offers a wide range of savings accounts. Here are some of the options available:

• High-yield savings account: The high-yield savings account requires a minimum deposit of $2,500. As of writing, the tiered interest rate structure is undisclosed.
• Emergency savings account: This account gives you the opportunity to automatically transfer funds to savings on a regular basis.
• Holiday savings account: The holiday account offers a 0.15% on all balances, with a minimum balance of $25. You can deposit funds throughout the year or set up an automatic transfer. Not that the account does include a $20 fee if you want to access the funds before November.
• Primary savings account: In order to become a StagePoint member, you must deposit at least $5 into this primary savings account. There isn’t a monthly fee. But the attached APY is only 0.15%.

Dividend-Bearing Checking Accounts

StagePoint Federal Credit Union offers three different checking accounts. One is a Fresh Start account, which is designed for customers who want a clean slate after past banking issues.

The credit union also offers two dividend-bearing checking accounts. The Ultimate Checking Account allows account holders to earn up to 2.00% APY on dividends. To get that rate, you’ll need to have at least one direct deposit and make at least 12 debit card purchases each month.

The other option is the Freedom Checking account, which is available for military, first responders, and educators. It comes with dividends as high as 2.75% APY for account balances between $5,000 and $15,000. For account balances between $0 and $5,000, account holders can earn 2.53% APY. In order to unlock the top rates, you must make at least 12 debit card purchases and receive one direct deposit each month.

Certificates of Deposit

StagePoint Federal Credit Union offers certificates of deposit (CDs) that require a minimum account balance of $500. If you choose a CD, you’ll lock in a specific rate for a predetermined period of time. Taking funds out of the account early will lead to a penalty.

Below is a summary of the CD rates offered by this credit union:

Some of the rates offered are competitive. But it’s possible to find higher rates elsewhere, especially if you take some time to shop around for the best CDs.

Are There Any Fees?

Aside from its Fresh Start Checking account, which has a $5 monthly fee, StagePoint Federal Credit Union does not mention any monthly checking or savings account fees on its website. However, you will incur fees for various banking services, such as NSF items, cashier's checks, stop payments, incoming and outgoing wires, etc. A full list of StagePoint banking fees is available here.

Also, penalties may apply if you make an early withdrawal from a StagePoint CD. For example, if you open a 12-month CD and decide to pull the funds out before the maturity date, you’ll face a withdrawal penalty equal to 90 days' worth of interest earnings.

How Does StagePoint Federal Credit Union Compare?

StagePoint Federal Credit Union isn’t the only banking option out there. Here’s how the credit union stacks up.

If you want to lock in the highest possible CD APYs, you can find better options than StagePoint Federal Credit Union. For example, Western Alliance Bank, which also partners with Raisin, is currently offering a 5.60% APY on a 12-month CD term.

Savers looking for higher savings account rates might want to try Customers Bank. Through a partnership with Raisin, this bank currently offers a savings account with a 5.30% APY.

How Do I Open An Account?

If you want to open the high-yield money market account with StagePoint Federal Credit Union, you’ll need to sign up through Raisin. In the online signup process, Raisin will ask for an email address, name, password, Social Security number, and funding account information.

If you are interested in a different account, you’ll need to go directly through StagePoint Federal Credit Union. The process starts with becoming a member, which involves providing some basic information about yourself and a $5 deposit in your savings account. You can complete this process in person or online.

Is It Safe And Secure?

StagePoint Federal Credit Union safeguards your savings through the National Credit Union Administration. As an NCUA member, the funds you deposit with StagePoint are protected for up to $250,000 per depositor, per bank. This includes funds you place in the Raisin partnership account.

How Do I Contact StagePoint Federal Credit Union?

If you want to get in touch, you can call or text 307-745-5365 or email [email protected]. Of course, you can also head to one of the two physical branches located in Wyoming.

Is It Worth It?

Savers can put their funds to work with StagePoint Federal Credit Union. The most enticing option is the money market account available through the partnership with Raisin. A high APY and low fee structure make this MMA appealing. However, it’s possible to find higher rates elsewhere.

Before you dive into this account, make sure to explore all of your options. With a careful look at everything a financial institution has to offer, including offered APYs, you can find the right match for your situation.

Check out StagePoint Federal Credit Union here >>

StagePoint Federal Credit Union Features