Recent offers from a number of credit unions has shifted the spotlight to a section of the savings market that most savers overlook.
Rates in the mid to high fours (even above) are on offer from four of them.
These institutions are not large by bank standards, but they do occupy a unique place in the financial institution landscape. Most are under the Co-op Money umbrella (which also includes building societies) and together account for an industry segment with over $1 bln in assets. This sector is not micro either.
They are growing fast, although lending growth at some slowed last year. Leverage rates are about half those of banks