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Harborstone Credit Union Money Market Deposit Account from Raisin Review: Great APY From a Third-Party Partner

Review Updated
Brittney Myers
Brittney Myers
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Nathan Alderman
Fact Checked: Nathan Alderman
Nathan Alderman
Nathan Alderman
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Nathan Alderman has been a full-time Motley Fool employee since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As Motley Fool Money's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. APY = Annual Percentage Yield.

Harborstone Credit Union is a small, local organization in Washington State. But, through a partnership with fintech platform Raisin, the Harborstone Credit Union Money Market Deposit Account from Raisin offers an APY that can compete in the big leagues.

See how it works, and whether it's worthwhile, in our complete Harborstone Credit Union Money Market Deposit Account from Raisin review.

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Ratings Methodology
Rates as of Apr 11, 2025

Harborstone Credit Union Money Market Deposit Account from Raisin

Federally insured by NCUA.
Rating image, 4.75 out of 5 stars.
4.75/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
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Rating image, 4.75 out of 5 stars.
4.75/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Monthly Fee
$0
Min. Balance
$1
Limited-time offer
$250 bonus for new customers with a minimum deposit of $25,000 with promo code GET250.
APY
4.25%
Min. To Earn APY
$1
  • High APY
  • No account fees
  • An unlimited number of deposits and withdrawals
  • Low balance requirement
  • NCUA insured
  • Deposits and withdrawals can only be conducted via ACH transfer between a single external bank account and a Raisin Cash Account.
  • Limited customer service hours
  • Cannot link Raisin accounts to third-party apps (e.g. personal budgeting apps)
  • No branch access; online only

Harborstone Credit Union is a Washington State-based credit union with nearly $2 billion in assets and insurance through the NCUA. The Harborstone Credit Union Money Market Deposit Account powered by Raisin is an account with Harborstone Credit Union through Raisin's online savings marketplace. By choosing this account through Raisin, you'll get a higher APY than you would directly through the credit union, a simple online interface, and access to Raisin's online savings marketplace. However, this account does not offer branch access and has limited options for depositing and withdrawing money.

Full Harborstone Credit Union Money Market Deposit Account from Raisin review

Top perks

High APY: The account through Raisin has a very competitive 4.25% APY. Not only is it much higher than the rate you'd get directly from Harborstone, but it's comparable to the rates on our favorite money market accounts.

No account fee: You don't need to worry about how to avoid a costly account fee; there isn't one.

Low initial balance requirement to open: One thing that tends to give savings accounts the edge over money market accounts is the opening requirement, but that's not the case with the Harborstone Credit Union Money Market Deposit Account from Raisin. You only need $1 to open an account.

Online banking through Raisin: When you get an account through Raisin, you don't deal with the bank that has your money. Instead, you'll manage your account through your Raisin dashboard, which provides 24/7 access to your account.

NCUA insured: While your account is managed through Raisin, your money is kept at Harborstone Credit Union, which is part of the NCUA (National Credit Union Administration). The NCUA insures your deposits similarly to how the FDIC insures deposits at banks; it even has the same $250,000 coverage.

What could be improved

Missing out on the credit union experience: The Harborstone Credit Union Money Market Deposit Account from Raisin is only available through Raisin, meaning you won't find it on the Harborstone website. And while you'll still need to join the credit union, you won't enjoy many of the benefits you'd typically experience. For example, you'll manage your account through Raisin, so the in-person services from a Harborstone branch won't be available.

Can only transfer to/from one account: When you set up a Raisin account, you'll need to link an outside bank account. That's the only way you can fund your Raisin account. It's also the only way you can move money out of your Raisin account. This is a huge drawback, especially since one of the main benefits you usually have in a money market over a savings account is quicker access to your money.

Must be a member of the credit union: You need to be a member of the Harborstone Credit Union to open any of its accounts. On the plus side, Harborstone has more relaxed requirements than many credit unions, as any resident of Washington State can join.

How to access your money

Since this account is managed through Raisin, you're limited on how you can access your money.

Deposit options

You only have one way to add money to your Raisin account:

  • ACH transfer from your linked bank account

Any cash or check deposits, or money from other banks accounts, will need to route through your linked account.

Withdrawal options

Same with deposits, you're limited to a single way to get your money out of a Raisin account:

  • ACH transfer to your linked bank account

While transfers are typically completed within a day or two, this isn't exactly quick access.

Harborstone Credit Union Money Market Deposit Account from Raisin is right for you if:

Folks who live in Washington, want a high APY, and don't mind going through a third-party company to get it may like this product. It's certainly a better rate than you'd get going through Harborstone's own website.

However, you're missing out on many of the perks of being part of a credit union, and you're really limited on how you can access your funds. If you'd rather deal directly with the people who hold your money, look at our top-rated accounts with high APYs offered by the banks themselves.

Keep reading about Harborstone Credit Union

Our money market account methodology

At Motley Fool Money, we evaluate money market accounts based on four main criteria: annual percentage yield (APY), brand and reputation, fees and minimum balance requirements, and perks.

Our scores are weighted as:

  • APY: 60%
  • Brand and Reputation: 15%
  • Fees and Minimums: 15%
  • Perks: 10%

Learn more about how Motley Fool Money rates bank accounts.

FAQs

  • Any resident of Washington State can join Harborstone Credit Union.

  • Raisin is a third-party platform that connects users with bank accounts from a variety of partner banks and credit unions. Any accounts you open through Raisin will be managed entirely through the Raisin platform, while the funds are housed by the partner deposit institution.

  • No, the Harborstone Credit Union Money Market Deposit Account from Raisin is only available through Raisin. The Select Money Market account offered by Harborstone Credit Union directly is an entirely different product with different rates and fees.