Credit union · NCUA insured
HomeTown Credit Union Carrot Score
A $295.6M credit union headquartered in Owatonna, MN, with 25,572 members and 4 branches in Minnesota.
HomeTown Credit Union Carrot Score
84
Carrot Score
Higher than 65% of U.S. banks and credit unions
- CDs87
- Savings85
- Auto loansNot scored
- Credit cards79
Each bar is every U.S. bank and credit union, lowest score to highest. Choose a product to see its rates.
Where HomeTown Credit Union ranks
By Carrot score, in each area where it has branches
Scores run from 60 to 99; 90 and up means rates near the best in the country. Top Carrot marks a score of 87 or more, the top quarter of U.S. banks and credit unions. It’s about rates only, not safety, service or who can join.
By product
How each product scores
How its rates compare with every U.S. bank and credit union. Open a product to see them.
CDs
87top 21% nationally
| Term | Its rate | Beats | U.S. median | Top 25% atTop 25% | Top 10% at |
|---|---|---|---|---|---|
| 3-8 months | 4.15% | 94% | 3.50% | 3.82% | 4.05% |
| 9-15 months | 4.20% | 88% | 3.70% | 4.00% | 4.25% |
| 16-30 months | 2.00% | 16% | 3.35% | 3.85% | 4.20% |
| 31-60 months | 2.50% | 29% | 3.05% | 3.65% | 4.07% |
| Qualified | 4.20% | 79% | 3.85% | 4.15% | 4.35% |
Best rates 91.2 · all terms 59.7 → 78.6 → 87
Savings
85top 32% nationally
| Balance | Its rate | Beats | U.S. median | Top 25% atTop 25% | Top 10% at |
|---|---|---|---|---|---|
| $1,000 | 0.70% | 78% | 0.20% | 0.50% | 1.51% |
| $10,000 | 0.90% | 66% | 0.50% | 1.15% | 2.20% |
| $100,000 | 2.30% | 82% | 1.00% | 2.01% | 2.93% |
| Qualified | 0.90% | 61% | 0.60% | 1.31% | 2.43% |
Best rates 63.2 · all balances 70.5 → 66.1 → 85
Auto loans
Not scoredCredit cards
79beats 48% nationally
| Card | Its rate | Beats | U.S. median | Top 25% atTop 25% | Top 10% at |
|---|---|---|---|---|---|
| Purchase APR | 10.90% | 50% | 10.90% | 9.90% | 8.90% |
Best rates 49.8 · all rates 49.8 → 49.8 → 79
Where the score could improve
- CDs, 16-30 months3.85%2.00% today, higher than 16% of U.S. institutions. 3.85% would reach the top quarter; 4.20% the top 10%.
- CDs, 31-60 months3.65%2.50% today, higher than 29% of U.S. institutions. 3.65% would reach the top quarter; 4.07% the top 10%.
- Savings, $10,0001.15%0.90% today, higher than 66% of U.S. institutions. 1.15% would reach the top quarter; 2.20% the top 10%.
Scores update as rates change. Institutions can correct a rate we show; payment never changes a score.
Method
How the score works
- Each product gets a standingWe compare its CD, savings, auto loan and credit card rates with every bank and credit union in the U.S. and give each product a standing out of 100. Its best rates count the most. For loans and cards, lower rates rank higher.
- Its two best products set the scoreWe average its two strongest products. Each extra product it publishes adds 1.5 points, so sharing more rates can only help.
- Its rank puts it on the 60–99 scaleWe rank that number against every scored bank and credit union in the country to get a score from 60 to 99. The top quarter earn Top Carrot.
How HomeTown Credit Union got its score
Its products stand at 78.6 for CDs, 66.1 for savings and 49.8 for credit cards, out of 100. Its best two, CDs and savings, average 72.4. Publishing three products adds 1.5, for 73.9. That puts it in the top 35% nationally: a Carrot Score of 84.
The fine print: inside each product, its best rates make up 60% of its standing and all its rates the rest. Its best rates are its two best CD terms, its $10,000 and Qualified savings or money market rates, the better of its new and used auto loan rates, and its credit card purchase rate. The Qualified rate is the best $10,000 rate you can get by opening another account or meeting monthly requirements (or the standard rate, if that’s higher). Rates that need monthly activity get half credit for the extra they pay, and rates that need a combined balance count only from that balance. We subtract monthly fees and count an intro rate at what it earns over a full year. Accounts for kids, students, seniors, businesses, IRAs and health savings aren’t scored.