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> be pretty easy to create a "defi credit union" that's not a scam, it'd just be hard to cut thru all the noise. Give 3% to 5% yields on saving, lend at 8% to 12%

This is a bank. Running a bank is not easy.

There are tons of legit projects that do exactly that

The most well known is probably Maker https://makerdao.com/en/

But there's also Aave, Benqi, and a bunch of others.

yeah, I'm with you, it's just hard to tell which ones are reputable

Or just stake some proof-of-stake cryptocurrencies. Most Cardano stake pools (for example) are right around that ~4% yield figure, last I checked.