NW Preferred offers a high yield savings account that not only features a highly competitive rates, but also delivers the personal, trustworthy service you expect from a local credit union. Our goal is to help you earn more on your money while supporting our community with the kind of one-on-one service you won’t find at big national banks.

Why Choose a High-Yield Savings Account?

A high-yield savings account is a smart way to make your money work harder for you. Unlike a standard savings account from a megabank (many of which pay as little as 0.01% APY (investopedia.com), a high-yield account offers a significantly higher return. In fact, the national average savings rate is around 0.38% APY in mid-2025, whereas the top high-yield accounts can pay 4–5% APY or more. Here’s why a high-yield savings account is beneficial:

• Earn More Interest: The higher the Annual Percentage Yield (APY), the more interest your savings earn. Over a year, a $10,000 deposit at a 5.00% APY would earn about $500 in interest, compared to just $1 from a big bank at 0.01% (investopedia.com). This difference can greatly accelerate your progress toward financial goals.
• Safe and Secure Growth: High-yield accounts at reputable institutions (like NW Preferred) are federally insured, so your money grows risk-free. NW Preferred is insured by the NCUA, meaning deposits are protected up to $250,000 – the same level of protection the FDIC provides for banks.
• Easy Access to Funds: You don’t have to lock your money away. Unlike some investments, savings accounts let you withdraw or transfer funds at any time without penalties. This makes a high-yield savings ideal for an emergency fund or short-term goals.
• No Sacrifice in Convenience: Modern high-yield accounts come with online and mobile banking, so you can manage your money 24/7. NW Preferred, for example, offers a user-friendly digital banking platform for easy transfers, mobile check deposit, and even person-to-person payments with Zelle®

In short, a high-yield savings account allows you to maximize interest earnings while keeping your money safe and accessible.

What Makes a Savings Account the “Best” for Stayton Residents?

When evaluating the best high-yield savings account in Stayton, you should consider several factors beyond just the headline interest rate. Here are the criteria that savvy savers in Stayton should weigh:

• Top-Tier APY: A great savings account needs a competitive APY. This is the percentage of interest you earn on your balance per year. Higher APYs mean more money in your pocket. NW Preferred consistently offers one of the most competitive credit union savings rates in the region – see our latest rates for current APYs. Even if some online-only banks advertise slightly higher rates, keep in mind those often come with special conditions or balance caps (for example, Varo Bank offers 5.00% APY but only on balances up to $5,000 and with certain direct deposit requirements (investopedia.com). NW Preferred provides an excellent yield on your entire balance with no gimmicks – making it a top choice for steady, reliable growth.
• Low or No Fees: Fees can eat away at your earnings. The best account has no monthly maintenance fees and no minimum balance fees. NW Preferred’s money market savings account has $0 monthly fees.
• Easy Local Access and Service: For Stayton-area residents, having local branch access and personalized service is a huge advantage. NW Preferred operates the North Santiam Community Branch right in Stayton (393 E. Florence Street), so you can talk to real people and get help face-to-face. We’re a part of your community. Plus, as a member-owned credit union, our focus is on you, not shareholders. You’ll be treated as a person, not an account number, and get the kind of friendly service that big banks can’t match.
• Digital Convenience: While local presence is important, so is technology. The best savings accounts let you manage your money from anywhere. NW Preferred offers robust online and mobile banking tools – check your balance, transfer funds, deposit checks via your phone, or Send Money With Zelle®– all from the comfort of home. It’s the perfect blend of community banking and modern convenience.
• Account Flexibility: A top savings account should accommodate your needs. Look for accounts with no transaction limits on savings withdrawals and the ability to easily move money when needed. NW Preferred imposes no excessive withdrawal penalties or transaction limits on its regular savings, giving you flexibility if you need to tap your funds (federal regulations aside)
• Deposit Insurance and Trustworthiness: Always ensure your savings are protected. NW Preferred is federally insured by the NCUA, which means your deposits are insured up to at least $250,000. We’ve been serving Oregonians for over 80 years, so you can trust that your money is in safe hands with a financially sound institution. Stability and trustworthiness are key parts of being the “best.”

By considering all these factors — rate, fees, access, convenience, and security — it becomes clear that NW Preferred Federal Credit Union offers one of the best high-yield savings options for Stayton residents.

NW Preferred’s High-Yield Savings Account Details

NW Preferred’s high-yield savings account (our primary Money Market Savings account) is designed to help members in Stayton and surrounding areas get ahead financially. Here are the key features and benefits of our account:

• Competitive APY on Your Savings: Our rates are among the best you’ll find at any local institution – and very strong even against online banks. As of this writing, our savings account offers a tiered APY that increases with your balance. That means the more you save, the more you earn. Current rates range up to about 3.55% APY for higher balances (check our Rates page for the most up-to-date figures). Even smaller balances earn a healthy yield far above the national average. And unlike some promo accounts, every dollar in your account earns interest – there are no special hoops to jump through like direct deposit requirements or teaser rates that drop after a few months.
• No Fees, No Minimums: We believe your money should be yours. That’s why our high-yield savings has no monthly service fee and no hidden charges. You can open an account with as little as $5 (the $5 represents your share in the credit union) and start earning interest right away. By eliminating unnecessary fees and minimums, NW Preferred ensures that every penny you save is working toward your financial goals.
• Open to Stayton Community Members: NW Preferred proudly serves the Stayton community. If you live, work, or worship in the greater North Santiam area, you can become a member of NW Preferred and open an account. (We also welcome licensed insurance professionals nationwide, but for local residents membership is straightforward – you’re likely eligible just by your community ties.) Becoming a member is easy – there’s no long list of requirements or waiting period. We exist to serve our community, so everyone in our field of membership is welcome to join and start saving at a high yield.
• Easy Account Access – Online and In-Person: Managing your NW Preferred savings account is convenient no matter your preference. Enjoy full-service banking at our Stayton branch, as well as access to over 30,000 surcharge-free ATMs nationwide through the CO-OP network. Rather bank from home? Use our online banking platform or mobile app to check balances, transfer money between accounts, deposit checks via mobile deposit, and more. You can even link your NW Preferred savings to external accounts to transfer funds electronically (ACH) whenever needed. We make it simple to access your money 24/7, while still being just down the street if you want to chat in person.
• Safe and Federally Insured: Rest easy knowing your savings are safe with us. NW Preferred is a federally chartered credit union, and deposits are insured by the National Credit Union Administration (NCUA). This is equivalent to FDIC insurance for banks – your deposits are protected up to $250,000 per member. In addition, our online banking systems use modern security measures (encryption, multi-factor authentication, etc.) to protect your information in digital channels. Security, stability, and member protection are top priorities for NW Preferred.

In summary, NW Preferred’s high-yield savings account gives Stayton-area residents a rare combination of high earnings, zero fees, and hometown service. It’s designed to help you grow your savings faster without hassle or risk.

How to Get Started with an NW Preferred Savings Account

Opening your high-yield savings account at NW Preferred is quick and easy. Here are the simple steps to start earning more on your money:

1. Become a Member: If you’re not already a member, you’ll need to join NW Preferred Federal Credit Union. You can become a member and open your account online in just 10 minutes, or you’re welcome to visit our branch to join in person. (All it takes is a short application and an initial deposit of $5 or more into your new savings account to establish your membership share.)
2. Open the High-Yield Savings Account: During the membership process (or afterward, if you’re already a member), select the Savings/Money Market Account to open. This account serves as both your primary share savings and high-yield deposit account. There’s no minimum opening deposit beyond the small share requirement – though you’ll probably want to deposit more to start earning interest right away!
3. Fund Your Account: You can fund your new savings account in a variety of ways. Transfer money from an existing bank account via ACH, deposit a check (in person or using our mobile app’s remote deposit feature), or even set up direct deposit of your paycheck. There’s no requirement to set up direct deposit, but doing so is a convenient way to grow your savings automatically.
4. Start Earning and Enjoying the Benefits: Once your account is open and funded, you’ll immediately begin earning interest at our high APY. You can log into online banking anytime to track your interest earnings and balance growth. And of course, as a member of NW Preferred, you now have access to our full suite of products – from free checking to loans – plus all the perks of credit union membership (like voting rights, member discounts, and more).

How NW Preferred Stacks Up Against Other Banks

You might be wondering how NW Preferred’s high-yield savings account compares to other options out there – including both online banks and other local institutions. Here’s a quick comparison of our offering versus some well-known alternatives, as of mid-2025:

The institutions with the highest APYs (like Varo, AdelFi, Fitness Bank, etc.) often come with strings attached. For example, Varo’s 5.00% rate requires you to also have a checking account with them, receive at least $1,000 in direct deposits each month, and it only applies to balances up to $5,000 (investopedia.com). AdelFi’s 5.00% is a promo for new members and only on the first $5,000 as well. Fitness Bank’s 5.00% APY even asks you to maintain a $5,000 checking balance and hit a daily step count! These conditions might not work for everyone.

In contrast, NW Preferred’s high-yield savings offers an excellent rate with no bizarre requirements. Every member gets the same great rate on their balances, large or small, and you don’t have to worry about maintaining a separate account or jumping through hoops to “qualify” each month. Plus, none of those online banks can provide you local in-person service or a connection to your community.

Even compared to other Oregon credit unions, NW Preferred holds its own. Some offer a 5.00% APY on its savings, but that is typically limited to the first $1,000 of your balance, with lower rates on amounts above that. NW Preferred’s account rewards higher balances with higher tiers, meaning if you’re saving more than a small emergency fund, you could earn as much or more in interest over time without balance caps. And while Oregon State Credit Union and others have competitive offerings, NW Preferred’s unique focus on the Stayton area means we’re especially attuned to serving you – our neighbors – with the best we can offer.

Bottom line: When you weigh the consistently strong APY, no-fee policy, and local advantages of NW Preferred’s savings account, it stands out as the best all-around choice for Stayton residents who want high-yield earnings and a banking partner they can trust.

Why NW Preferred is the Best Choice for Your Savings

Choosing where to keep your savings isn’t just about numbers – it’s about confidence and comfort too. Here are a few reasons why hundreds of people in Stayton and the North Santiam region have chosen NW Preferred as the home for their savings:

• Community-Focused Banking: NW Preferred is a not-for-profit, member-owned financial cooperative. We were founded to serve our community (over 80 years ago), and that mission continues today. Unlike big banks, we don’t answer to stockholders or chase maximum profits at your expense. Instead, we return earnings to our members through better rates and lower fees. When you save with NW Preferred, you’re essentially investing in your own community – your deposits help fund loans to other local members, and the interest we earn goes back into improving our services and rates for you. It’s a virtuous cycle that benefits everyone in the credit union.
• Personalized, Friendly Service: At NW Preferred, you’re more than just an account number – you’re part of the family. Our staff truly cares about helping you reach your financial goals. Whether you need advice on how to build your savings, want to discuss the best account for a specific goal, or have questions down the line, we’re here for you with a smile. Many members remark on how refreshing it is to deal with real people who know them by name. We take pride in one-on-one service and making banking human again. You can call or visit us and get straightforward answers from professionals who genuinely want to help.
• Straightforward and Transparent: The financial world can be full of fine print and tricks – but not at NW Preferred. We keep things simple and transparent. Our savings account doesn’t lure you in with a high promo rate only to drop it later; we don’t hide fees or set traps like some banks do. All terms are clearly disclosed, and if there are any changes in rates or policies, we communicate that openly. Our philosophy is that an informed member is a happy member. Banking shouldn’t be confusing or predatory. With us, you can trust that we have your best interests at heart and we’ll always be upfront with you.
• Full-Service Financial Partner: While this article is about savings, it’s worth noting that NW Preferred can be your one-stop financial partner. Once you’re a member, you have access to a range of other beneficial products: totally free checking accounts (with debit cards and nationwide ATM access), auto and home loans at competitive rates, credit cards with rewards, and more. We even offer specialty savings like IRAs, holiday and vacation club accounts (which earn a great APY to help you save for those specific goals, and certificate accounts for higher fixed yields. Our members often consolidate their banking with us because they know they’ll get great value across the board – and the friendly service to match.

In summary, NW Preferred offers the best high-yield savings account for Stayton not only because of the attractive interest rate, but because of everything behind that rate: a trustworthy, community-oriented institution that genuinely wants to help you prosper.

FAQ: High-Yield Savings at NW Preferred

You might have a few questions about how our high-yield savings account works. Here are answers to some common questions we hear from prospective members:

Q: Who is eligible to open a savings account with NW Preferred?
A: Anyone in the Stayton area! If you live, work, or worship in Stayton or the neighboring North Santiam communities (Aumsville, Sublimity, Scio, Lyons, Gates, Mill City, Detroit, Idahna and Mehama), you’re eligible for membership. That means you can open an account with us. Membership just requires a simple application – and once you’re a member, you’re part of our family!

Q: What is the current APY on the high-yield savings account?
A: Our rates are competitive and change periodically based on market conditions. Right now (as of this publication), the APY is very attractive – in the ballpark of mid-3% for larger balances, with slightly lower tiers for smaller balances. We encourage you to check our current rates page for the most up-to-date rate information. That page is updated whenever rates change, so you’ll always know the exact yield you can get. Remember, even our lower tiers for small balances are much higher than what big banks pay, so you’ll be earning a great return no matter your balance.

Q: Are there any monthly fees or minimum balance requirements?
A: No – none at all. Our savings account has no monthly service fee. You can keep as much or as little in the account as you want, and you’ll never be penalized. (Do note that if your account stays at $0, it might become dormant, but that’s true anywhere.) We want you to save at your own pace, without worrying about fees nibbling away at your money. Also, there’s no minimum opening deposit beyond the $5 share – so you don’t need a large sum to start. Every member’s savings earns interest from dollar one.

Q: How does NW Preferred manage to offer such good rates?
A: It’s a combination of our not-for-profit model and prudent financial management. Because we’re a credit union, we return profits to members in the form of better rates. We don’t have to pay dividends to stockholders – our “shareholders” are you, our members! Additionally, we carefully manage our loans and investments to ensure we can pay attractive dividends (interest) on deposits. We keep our overhead low and invest in technologies that improve efficiency. All of that enables us to consistently offer rates that often beat larger institutions. It’s one of the key benefits of banking with a credit union – your money works for you and your community, not outsiders.

Q: Is my money really safe in a credit union like NW Preferred?
A: Absolutely. We are federally insured by the NCUA, which means the U.S. government backs your deposits to at least $250,000 per account ownership category – the same protection that FDIC insurance provides for bank deposits. There is no difference in safety between putting your money in NW Preferred versus a federally insured bank. In our 80+ year history, NW Preferred has maintained a stellar record of safety and soundness. We take security seriously, both in terms of safeguarding your funds and securing our digital banking services. You can feel confident that your savings are well-protected here.

Q: Can I access my NW Preferred accounts if I’m traveling or move away from Stayton?
A: Yes! Membership with NW Preferred means you can bank from anywhere. Through online banking and our mobile app, you can manage your account from out of state just as easily as from Stayton. Need cash while traveling? No problem – as a member, you have access to the CO-OP ATM Network with over 30,000 ATMs nationwide, where you can withdraw surcharge-free. And if you move within the U.S., you may still retain your membership (once a member, always a member). Plus, many credit unions participate in shared branching, allowing you to perform transactions at other credit union branches as if you were at NW Preferred.

Reviews from Stayton Members

Nothing speaks louder than the experiences of real members who have saved with NW Preferred. Here are a couple of testimonials from members in the Stayton area who chose NW Preferred for their savings needs:

“My husband and I have had an account there for years. They have been so helpful. I just cannot thank them enough. They went above and beyond. Very easy to work with!” – A Stayton resident

“I deal with a lot of Banks and Credit Unions and I have to say NW PREFERRED FCU is #1 in my book, both in terms of friendliest and most professional, thank you for caring about the members. Thank you again for making my life easier.” – Local NW Preferred member

We are proud of the strong relationships we build with our members. Your neighbors in Stayton have entrusted us with their savings and achieved great results – and you can too!

Ready to Start Saving More? Join NW Preferred Today!

When it comes to finding who has the best high-yield savings account in Stayton, Oregon, the evidence points to NW Preferred Federal Credit Union. We offer the ideal blend of high returns, no fees, and local service that big banks and online competitors simply can’t match. Whether you’re saving for a rainy day, a big purchase, or just want to grow your money faster, NW Preferred is here to help you succeed.

Ready to boost your savings? Opening an account is easy. You can open your high-yield savings account online right now or visit our Stayton branch at 393 E. Florence St. – whichever is more convenient. Our friendly team will gladly assist you in getting set up and answer any remaining questions.

Don’t settle for less interest or faceless banking. By choosing NW Preferred, you’ll enjoy the peace of mind that comes with knowing your money is earning at a great rate in a safe place, all while being supported by people who genuinely care about your financial well-being. Come join your neighbors who have already made the switch to smarter savings and experience the NW Preferred difference for yourself!

Additional Resources

• 📈 Current Savings Rates: See the latest rates for all our accounts (updated regularly).
• 🏦 Our Services: Learn about other accounts like free checking or certificate options to complement your savings strategy.
• 🤝 Contact NW Preferred: Have questions? Contact us or swing by the branch – we’re here to help!

Disclosures:

APY = Annual Percentage Yield. All rates are subject to change. Rates are subject to change after account opening. For all other terms and fees for each account, contact your branch for the applicable disclosure statement(s). Any fees assessed could reduce earnings on this account. Other terms and conditions may apply, see Credit Union for full details. The share account Base Rates and Annual Percentage Yields shown are the prospective rates and yields the Credit Union anticipates for the applicable Dividend Periods. Dividends are calculated by the daily balance method.

Zelle® and the Zelle® related marks are wholly owned by Early Warning Services, LLC and are used herein under license. 

U.S. checking or savings account required to use Zelle®. Transactions between enrolled consumers typically occur in minutes and generally do not incur transaction fees.

APYs mentioned are accurate as of the date of publication, 7/23/2025, and are subject to change. Always check current rates for the latest information. Membership with NW Preferred Federal Credit Union is required to open an account; eligibility is limited to individuals who meet field of membership criteria (such as living or working in designated communities or in the insurance industry). No dividend (interest) is earned on days when balance is below $5 (the minimum share). Fees could reduce earnings on the account. All deposits are federally insured by the NCUA up to $250,000 per member. Please refer to NW Preferred’s account disclosures for full terms and conditions.