Posted by William Charles on August 5, 2018
Savings Accounts

Published on August 5th, 2018 | by William Charles


[CA & AZ] Meriwest Credit Union 3% APY Savings Account On Balances Up To $5,000 – No Requirements

Offer at a glance

  • Interest Rate: Up to 3%
  • Minimum Balance: $100
  • Maximum Balance: $5,000 for 3% APY rate
  • Availability: Must live, work, worship or attend school in one of the following counties: CA: Santa Clara, Alameda, Contra Costa, San Mateo, San Francisco AZ: Pima
  • Direct deposit required: No
  • Additional requirements: No
  • Hard/soft pull: Mixed DP, make sure to opt out of overdraft
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Insured: NCUA

The Offer

Direct link to offer

  • Meriwest is offering 3% APY on balances up to $5,000 with no requirements on the Premier Savings account. The catch is that the account can only be opened in your first 30 days of membership. You still get an APY of 2% on balances up to $10,000 as well. Break down as follows:

  • If you have say $6,000 in the account the first $5,000 earns at 3% and next $1,000 earns at 2% rather than the rate being blended.


The Fine Print

  • Available only to new members during the first thirty (30) days from the date of opening a membership account.
  • Minimum average daily balance of $100 required
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

This account has no monthly fees as far as I know

Our Verdict

3% APY with no requirements is great, even the maximum balance of $5,000 isn’t bad. You can also sign up for the checking account to get $125 and then do this deal. Only downsides are the mixed data points on it being a hard/soft pull. If anybody tries it, let us know in the comments below. Will be adding this to our high yield saving account page.

Hat tip to Travel With Grant via e-mail


Leave a Reply


newest oldest most voted
Notify of

I can confirm the account is a soft pull. There’s also a $3 transfer fee out of the account if you haven’t direct deposited within the past two months.


Is that $3 transfer fee assessed even if funds are pulled ACH from another bank? Or is it only if you push funds out from this bank?


It’s only for transfers initiated on Meriwest’s website.


Are you certain about that? I’ve never had the opportunity to test since I’ve been direct depositing in a dollar a paycheck since opening.

Kevin Matthews
Kevin Matthews

Just opened the savings account and was allowed to fund up to $500 by credit card


Coded as cash advance or purchase?


i emailed them. their response today:
“Thank you for your interest in our credit union. When applying for a new membership, a hard credit inquiry is made. We also use Chexsytems in order to review previous financial institution reporting records.”



That’s interesting. I checked fairly rigorously after applying and I didn’t see any records of a hard pull anywhere.

Seems like YMMV then…


Odd. Maybe that person didn’t know better, some people there don’t seem to know their products and how things work.
I didn’t have a hard pull when opening the savings or checking account.

They don’t do credit card funding when opening.


I noticed there is another way to qualify for membership. You can be employed by any tech company in California or Arizona. That should include a lot of people outside of those specific counties. I still don’t qualify so I haven’t tried to become a member this way.
Any other tech employees out there?


Membership declined after I failed to respond to a shady-as-fun looking email from asking for a scan of my SSN card.

Business model: fake offers and collecting non-refundable joining fees.

Back to Top ↑