Credit union deposit rates are usually tied to how much they need deposits, as opposed to what prime/sofr/fed are at. Credit unions whose lending isn’t keeping

Credit union deposit rates are usually tied to how much they need deposits, as opposed to what prime/sofr/fed are at. Credit unions whose lending isn’t keeping up with deposits (which is especially common in smaller CUs) will keep rates low to avoid paying a bunch of interest of funds that they can’t use productively.