Banks and credit unions offer similar financial products, including CDs. But unlike banks, credit unions are nonprofits that are owned by their customers. In general, that means they forego big profits and instead offer lower rates on credit products and higher yields on interest-bearing accounts. Another distinction between the two is that credit unions require membership. At some, you have to live or work in a certain geographic area or be the employee of a particular company. But some credit unions, including those on this list, offer ways for virtually any adult to join. For example, the it may allow you to gain membership by making a donation to a specific charitable foundation, or by joining affiliated organizations like the American Consumer Council. If you aren't looking to lock your money up for a period of time and want easier access to it, you could look at opening a high-yield savings account as an alternative. Below are some savings account options from our partners which can be competitive with the rates you can earn on CDs. It should be noted that unlike a CD, where your rate is locked in, with a savings account the bank or credit union can change your rate at any time.