Credit unions are nonprofit institutions that are owned by their members, and many of them keep fees down and offer respectable interest rates on at least some of their accounts.
Rates on bank accounts and CDs have already surged to their highest level in almost 16 years, and may rise further, giving you many options to earn 5% or more on your cash.
TIAA Bank primarily provides banking and financial services for teachers, but anyone can open a bank or brokerage account as long as they're U.S. residents. The variety of services provided ranks TIAA as one of GOBankingRates' Top 100 Banks and no. 3 on the Best Online Banks list.