A method and system for providing a magnetic element are disclosed. The method and system include providing first and second pinned layers, a free layer, and first and second barrier layers between the first and second pinned layers, respectively, and the free layer. The first barrier layer is preferably crystalline MgO, which is insulating, and configured to allow tunneling through the first barrier layer. Furthermore, the first barrier layer has an interface with another layer, such as the free layer or the first pinned layer. The interface has a structure that provides a high spin polarization of at least fifty percent and preferably over eighty percent. The second barrier layer is insulating and configured to allow tunneling through the second barrier layer. The magnetic element is configured to allow the free layer to be switched due to spin transfer when a write current is passed through the magnetic element.