Online banks typically offer much more competitive financial products. I have some HYSA accounts at 4% APY, that’s not achievable with a CU or traditional bank.

The solution is the same solution as any financial risk: diversification. I have many accounts at many banks. If any one of them goes down, I’m fine. If multiple go down, I’m still fine in the interim.

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SoftTalker a day ago | parent [-]

My CU has 6-month CDs at over 4% right now.

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preg_match a day ago | parent [-]

CDs are okay but I don’t prefer them due to lack of liquidity. There’s basically no reason to choose a CD over a HYSA at the same rate.

	▲	SoftTalker a day ago \| parent [-]
		The minumum deposits are a lot lower. If you have a HYSA with low balance requirements, sure that's great.