Credit union · NCUA insured
Somerset Federal Credit Union Savings Rates
Somerset Federal Credit Union’s best savings rate is 0.15% APY on $10,000, with its Statement Money Market Account. Rates checked October 15, 2026.
How Somerset Federal Credit Union’s savings rates compare
Compared with banks and credit unions near Providence, RI-MA, where Somerset Federal Credit Union has the most branches. $10,000, best rate first.
This credit union’s best
Somerset Federal Credit Union
1.00%APY
- Requires
- Monthly account activity
- Minimum
- $5
- Earns on $10,000 a year
- $100
Free Kasasa Saver® Account
Top rate
St. Anne's Credit Union
4.95%APY
- Requires
- None
- Minimum
- $2,500
- Earns on $10,000 a year
- $495
2nd-highest rate
Alltrust Credit Union
4.00%APY
- Requires
- Monthly account activity
- Minimum
- $25
- Earns on $10,000 a year
- $400
Somerset Federal Credit Union savings score
73
Savings score
Higher than 33% of U.S. banks and credit unions
- $1,000 balance$1,0000.15%
- $10,000 balance$10,0000.15%
- $100,000 balance$100,0000.15%
- QualifiedQualified1.00%
Each track runs from the lowest to the highest rate among U.S. banks and credit unions; the dot is this rate.Qualified: needs another account or monthly activity.
Where Somerset Federal Credit Union ranks
By savings score, in each area where it has branches
Every rate
Current savings rates
Rates from the credit union’s website. Earnings assume the rate doesn’t change.
Free Kasasa Saver® Account
Up to 1.00%APY
Must have a linked Kasasa Cash or Kasasa Cash Back checking account. Limit of one account per SSN. Membership restrictions apply.
| Balance | APY | Earns on $10,000 a yearEarns | Requirement |
|---|---|---|---|
| Up to $100,000When linked Kasasa Cash or Kasasa Cash Back checking qualifications are met (at least 12 debit card purchases, log into online banking once per cycle, receive eStatements). | 1.00% | $100 | When linked Kasasa Cash or Kasasa Cash Back checking qualifications are met (at least 12 debit card purchases, log into online banking once per cycle, receive eStatements). |
| Any balanceWhen linked Kasasa Cash or Kasasa Cash Back checking qualifications are not met. Applied to entire balance. | 0.05% | $5 | When linked Kasasa Cash or Kasasa Cash Back checking qualifications are not met. Applied to entire balance. |
Sources (2)
All captured Oct 5, 2026
Statement Money Market Account
0.15%APY
| Balance | APY | Earns on $10,000 a yearEarns |
|---|---|---|
| $1,000 and up | 0.15% | $15 |
Sources (2)
- somersetfcu.com/statement-money-market-account
- somersetfcu.com/checking-savings-and-certificates-rates
All captured Oct 5, 2026
Statement Savings
0.10%APY
Membership eligibility required. ID required at account opening. Earn dividends with minimum balance of $10.00. Can be used for overdraft protection sweep.
| BalanceRequirement | APY | Earns on $10,000 a yearEarns | Requirement |
|---|---|---|---|
| $10 and upEarn dividends with minimum balance of $10.00.$10 and up | 0.10% | $10 | Earn dividends with minimum balance of $10.00. |
Sources (2)
All captured Oct 5, 2026
Special-purpose accounts
IRA Share Account
0.40%APY
Age and tax rules apply for withdrawals and contributions. Regular Savings account with an IRA that allows contributions throughout the year.
| Balance | APY | Earns on $10,000 a yearEarns |
|---|---|---|
| Any balance | 0.40% | $40 |
Sources (2)
- somersetfcu.com/individual-retirement-accounts
- somersetfcu.com/checking-savings-and-certificates-rates
All captured Oct 5, 2026
DinoSavers™ Account
0.10%APY
Available for ages 12 and under. Receive DinoSavers gift upon opening account and birthday card every year. The account will be converted to a TeenCents Savings account upon the child's 13th birthday. Earn dividends with minimum balance of $10. Membership eligibility applies.
| BalanceRequirement | APY | Earns on $10,000 a yearEarns | Requirement |
|---|---|---|---|
| $10 and upEarn dividends with minimum balance of $10.$10 and up | 0.10% | $10 | Earn dividends with minimum balance of $10. |
Sources (2)
All captured Oct 5, 2026
TeenCents™ Savings Account
0.10%APY
Available for ages 13-17 (if under 18, adult joint owner is required). Earn dividends with minimum balance of $10. Converted to Statement Savings upon 18th birthday. Can be used for overdraft protection sweep. Membership eligibility applies.
| BalanceRequirement | APY | Earns on $10,000 a yearEarns | Requirement |
|---|---|---|---|
| $10 and upEarn dividends with minimum balance of $10.$10 and up | 0.10% | $10 | Earn dividends with minimum balance of $10. |
Sources (2)
All captured Oct 5, 2026
Christmas Club Account
0.05%APY
Funds deposited to your Checking or Savings Account the first week of October. Earn dividends with minimum balance of $10.00. Membership eligibility applies.
| BalanceRequirement | APY | Earns on $10,000 a yearEarns | Requirement |
|---|---|---|---|
| $10 and upEarn dividends with minimum balance of $10.00. Funds deposited to Checking or Savings Account the first week of October.$10 and up | 0.05% | $5 | Earn dividends with minimum balance of $10.00. Funds deposited to Checking or Savings Account the first week of October. |
Sources (2)
All captured Oct 5, 2026
Who can join Somerset Federal Credit Union
This may be incomplete or out of date, so check with the credit union before you apply.
Where you live or work
- Persons who live, work, worship, or attend school in specified counties and towns in Massachusetts and Rhode Island are eligible for membership.
Employers and groups
- Organizations comprised of persons who qualify for membership may open an account.
Family and household
- Immediate family members of individuals eligible through the geographic field of membership qualify for membership.
Cost to join
- An initial deposit of $5 is required to become a member and must remain on deposit for the life of the account.
Membership information collected October 5, 2026.