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SAFE Credit Union Review: Checking, Savings, CD, Money Market and IRA Accounts

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

SAFE Credit Union’s checking account options

Perfect Cents Checking

This checking account bears interest and charges a waivable monthly service fee.
APYMinimum Balance to Earn APY
1.00%First $1,000
0.01%$1,000.01 and more
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: $5, can be waived
  • ATM fee: No charge at 30,000 CO-OP ATMs nationwide. Each non-CO-OP ATM transaction will be charged a $2 fee.
  • ATM fee refund: None
  • Overdraft fee: $30

The Perfect Cents Checking account offers tiered, split-rate interest. The portion of your balance that falls in the first tier earns a higher interest rate, while the portion of your balance that exceeds that tier earns the lower interest rate. In order to earn dividends, you have to be actively enrolled in e-statements and have at least 10 debit or credit card purchases post on your monthly statement.

In order to waive the monthly fee that comes with this account, you must meet those same requirements, or you must have direct deposits of at least $500 coming into your account each month. If you’re under age 21, these requirements are waived.

We prefer accounts with no monthly fees. We also prefer checking accounts that offer ATM fee refunds, although with a network of 30,000 fee-free ATMs, it shouldn’t be too hard to avoid fees. Plus, you’ll earn a generous interest rate on your first $1,000 in this account as long as you meet the requirements. If you’re a fairly active account holder and know you’ll use your debit card more than 10 times each month, this checking account is a good offer.

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Prestige Checking

Earn interest at no monthly fee if you can maintain a high daily balance.
APYMinimum Balance to Earn APY
0.05%Under $2,000
0.10%$2,000 - $9,999.99
0.15%$10,000 - $24,999.99
0.20%$25,000 - $49,999.99
0.25%$50,000 and over
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: $8, can be waived
  • ATM fee: No charge at 30,000 CO-OP ATMs nationwide. Each non-CO-OP ATM transaction will be charged a $2 fee.
  • ATM fee refund: None
  • Overdraft fee: $30

Like the Perfect Cents Checking account, the Prestige Checking offers interest and comes with a monthly fee. You might be able to earn more interest with this account if you have a higher balance, but it also comes with a higher monthly service fee. Rather than waiving the monthly service fee by meeting a certain number of monthly transactions, you must maintain a minimum daily balance of at least $1,000. Alternatively, you can get the monthly fee waived if you have a combined deposit and loan balance of at least $5,000. Capitol Club and Premier Club members will have the monthly fee automatically waived.

This account comes with the same ATM fees and free CO-OP ATM usage as SAFE Credit Union’s other checking accounts. You’ll also get one box of free checks per calendar year.

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Capitol Checking

Earn the highest checking account interest rates SAFE Credit Union offers.
APYMinimum Balance to Earn APY
1.00%First $25,000
0.10%$25,000.01 and more
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: None
  • ATM fee: No charge at 30,000 CO-OP ATMs nationwide. Each non-CO-OP ATM transaction will be charged a $2 fee.
  • ATM fee refund: None
  • Overdraft fee: $30

This checking account charges no monthly fee and receives the highest interest rate of any of SAFE Credit Union’s checking accounts. However, there are some requirements you must meet in order to open this account and receive interest.

The Capitol Checking account is exclusive to Capitol Club members. In order to be eligible to join the Capitol Club, you must have a checking account with SAFE Credit Union and hold a combined balance of $100,000 between deposit and loan balances. A minimum of $25,000 must be maintained in deposit accounts. Joining will give you access to this account, waive the monthly fee on one checking account and get you a range of other perks such as premium dividends on certificates, prioritized service and free checks.

In order to receive interest on this account, you must be actively enrolled in e-statements, have monthly direct deposits of $500 or more, and process at least 12 debit or credit purchase transactions on a monthly basis.

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Freedom Checking

A basic, no monthly fee checking account that doesn’t earn interest.
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: None
  • ATM fee: No charge at 30,000 CO-OP ATMs nationwide. Each non-CO-OP ATM transaction will be charged a $2 fee.
  • ATM fee refund: None
  • Overdraft fee: $30

The Freedom Checking account is great for folks who want a no-frills checking account that doesn’t charge a monthly fee. While this account doesn’t earn any interest, you’ll still get access to 30,000 fee-free ATMs nationwide, and you don’t have to worry about maintaining a minimum balance or meeting a certain number of monthly transactions.

It’s worth noting that you won’t get any free checks with this account, and the price of check orders varies. However, if you don’t use checks regularly, free checks shouldn’t be a priority. Finally, if you want paper statements, you’ll be charged a $2 fee each month that you receive them.

How to get SAFE Credit Union’s checking accounts

You can apply for a SAFE Credit Union checking account online by filling out a brief application form. If you’re already a member, simply log into your SAFE Credit Union account to open a new checking account. If not, you’ll have to select your membership eligibility and open up a Share Savings account along with the checking account of your choice.

The only checking account that can’t be opened online by new members is the Capitol Checking account, as it requires you to first become a Capitol Club member. To become a Capitol Club member, you’ll want to discuss your qualifications with a representative over the phone or in person.

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How SAFE Credit Union’s checking accounts compare

We like the variety of options offered by SAFE Credit Union’s checking accounts, from a basic, free checking account that doesn’t bear interest to premium accounts that earn a generous APY if you can keep a high enough balance.

That being said, many of the best online checking accounts come with no monthly fees and no ATM fees. On top of that, most of them bear interest with no minimum balance amount, and the rates are often equal to or higher than the highest APYs offered by SAFE Credit Union’s checking accounts.

SAFE Credit Union’s savings account options

Share Savings account

This interest-bearing savings account charges a waivable monthly fee and earns premium dividends if it’s linked to a Perfect Cents Checking account.
APYMinimum Balance to Earn APY
0.10%$0.01
APY for Perfect Cents Checking customersMinimum Balance to Earn APY
1.00%First $1,000
0.10%Over $1,000
  • Minimum opening deposit: $5
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $5, can be waived
  • ATM fee: No charge at 30,000 CO-OP ATMs nationwide. Each non-CO-OP ATM transaction will be charged a $2 fee.
  • ATM fee refund: None
  • Overdraft fee: $30

SAFE Credit Union’s savings accounts are flexible, give you immediate access to your funds when you need them, and earn interest. Although, in most cases, the interest you earn will be minimal. One unique and helpful feature of their Share Savings Account is the ability to open additional Special Share savings accounts with custom names under their “You Name It” feature. This allows you to categorize your funds based on different savings goals.

The main drawback of this account is that it charges a monthly service fee if you’re 21 years of age or older. While the fee is low and can be waived, it’s still easier to go with a fee-free savings account. The fee is waived for the first six months of your account. After that, you’ll need to either have a combined average daily balance of at least $300, an active loan, monthly direct deposits of at least $25, at least 10 purchase transactions per month or a non-dividend savings account. Alternatively, if you’re actively saving as part of their Perfect Cents Savings program, you can also have the monthly service fee waived.

The Perfect Cents Savings program is for customers with both a SAFE Credit Union debit card and a savings account. Each time you make a purchase with your debit card, your purchase will automatically be rounded up to the next dollar, and the spare change will be deposited in your savings account.

How to get SAFE Credit Union’s savings accounts

You can apply for a SAFE Credit Union savings account online by filling out a brief application form. You’ll have to select your eligibility and the accounts you’d like to open, and then submit personal information, including a government-issued ID, address and Social Security number.

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How SAFE Credit Union’s savings accounts compare

SAFE Credit Union’s savings accounts offer great flexibility and also come with some useful programs for helping you save more money. They also bear interest, and if you pair the account with their Perfect Cents Checking, you’ll even get a boost in APY.

However, the credit union doesn’t offer any fee-free savings accounts. When you look at the best online savings accounts, not only do most of them not charge monthly fees, but they also offer significantly higher interest rates. You can even find a few that offer free ATMs nationwide or worldwide.

SAFE Credit Union’s CD rates

Certificates

These CDs come in a wide range of terms and include attractive certificate specials.
TermAPY for balances of $500 - $24,999.99APY for balances of $25,000 or more
3-5 months0.35%0.40%
6-11 months0.55%0.60%
12-23 months0.85%0.95%
24-35 months1.00%1.26%
34 month certificate special2.53%2.53%
36-47 months1.26%1.46%
48-59 months1.51%1.66%
60-72 months1.71%1.87%
  • Minimum opening deposit: $500
  • Minimum balance amount to earn APY: $500
  • Early withdrawal penalty: 12 months or less, the penalty is 90 days’ of interest. More than 12 months, the penalty is 120 days’ of interest.

If you’re looking for a certificate of deposit with SAFE Credit Union, you have a wide range of options with a relatively low minimum opening deposit. Terms start at three months and go all the way up to six years. Interest is tiered and generally increases as the term increases, and you’ll also get a higher rate if you have an extra high balance.

One difference is their certificate specials. They currently offer a 34 month certificate special with an APY significantly higher than what’s on offer from the rest of their certificates.

You can also take advantage of their bump-up certificates, which are offered in 12 or 24 month terms. If you have one of these certificates and rates increase during your term, your rate will increase accordingly.

How to get SAFE Credit Union’s Certificates

To open a certificate with SAFE Credit Union, you can call them over the phone, visit a branch in person, or take advantage of their live chat system. There is no online application for certificates.

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Add-On Certificates

These CDs offerings give you flexibility through two special products.
TermAPY
12 months0.75%
  • Minimum opening deposit: $25
  • Minimum balance amount to earn APY: $25
  • Early withdrawal penalty: 90 days’ of interest

Add-on certificates with SAFE Credit Union only come in 12 month terms and offer a lower interest rate. However, they give you the option to continually add funds throughout the term of your certificate. They also have a much lower minimum opening deposit than the credit union’s regular certificates.

How to get SAFE Credit Union’s Add-On Certificates

You can get an add-on certificate by working with a representative either over the phone or in person. They also offer an online live chat service through which you can speak with a representative.

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How SAFE Credit Union’s Certificate rates compare

SAFE Credit Union offers some interest certificate options, including certificate specials with bonus rates, bump-up certificates that allow you to take advantage of rate increases and add-on certificates for folks looking for lower minimum deposits and the ability to continually add money to their CD. It’s worth noting that Capitol Club members may be eligible to receive a 0.25% rate increase on certificates at the time of opening.

While they offer variety and flexibility, SAFE Credit Union doesn’t offer a high APY on most of their certificates. Compared with the best CD rates, many of which have similar minimum opening deposit requirements, their 34 month certificate special is the only one that can come close to competing. The rest, unfortunately, offer less than half of what you could get elsewhere.

SAFE Credit Union’s money market account options

Capitol Access Money Market

A money market account with no monthly fee and tiered interest.
APYMinimum Balance to Earn APY
0.05%Under $2,000
0.10%$2,000 - $9,999.99
0.15%$10,000 - $24,999.99
0.20%$25,000 - $49,999.99
0.25%$50,000 - $99,999.99
0.30%$100,000 - $199,999.99
0.35%$200,000 - $499,999.99
0.40%$500,000 and more
  • Minimum opening deposit: $25
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $12, can be waived
  • ATM fee: No charge at 30,000 CO-OP ATMs nationwide. Each non-CO-OP ATM transaction will be charged a $2 fee.
  • ATM fee refund: None
  • Overdraft fee: $30

This money market account comes with a higher monthly service fee than the credit union’s other savings accounts. It can be waived by maintaining an average daily balance of $2,000 or more, and it’s automatically waived if you’re a Capitol Club member. All customers holding this account earn interest.

Interest is paid monthly on this account, and your APY depends on the balance you hold. You’ll also get check-writing ability with this account, however, because it is a savings account, you can only clear six checks per month.

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Preferred Money Market

This account has monthly requirements to earn interest.
APYMinimum Balance to Earn APY
3.30%First $2,000
0.50%$2,000 - $49,999.99
0.75%$50,000 - $99,999.99
0.85%$100,000 - $199,999.99
1.00%$200,000 - $499,999.99
1.15%$500,000 and more
  • Minimum opening deposit: $25
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $12, can be waived
  • ATM fee: No charge at 30,000 CO-OP ATMs nationwide. Each non-CO-OP ATM transaction will be charged a $2 fee.
  • ATM fee refund: None
  • Overdraft fee: $30

This money market account has the same monthly service fee as the Capitol Access account, and can also be waived by maintaining an average daily balance of at least $2,000 or joining the Capital Club. You also have the same check-writing abilities.

However, this money market offers significantly higher dividends compared with the first, and you’ll earn a particularly high rate on your first $2,000. In exchange for a higher rate, there are some requirements you need to meed in order to earn interest. You need to be actively enrolled in e-statements and have at least 10 monthly debit or credit card purchase transactions under your membership account.

How to get SAFE Credit Union’s Money Market account

You can open a money market account online by logging into your SAFE Credit Union membership account or applying for membership through their online form. You’ll be asked to state your eligibility requirements, choose an account and provide personal information such as your government-issued ID and Social Security number. You can also open an account over the phone or in person.

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How SAFE Credit Union’s money market accounts compare

Both of SAFE Credit Union’s money market accounts charge a monthly service fee, and although it is waivable, we prefer free money market accounts. The Capitol Access Money Market account makes it easy to earn interest with no minimum balance requirement, but the interest you would earn is negligible.

On the other hand, the Preferred Money Market account comes closer to competing with the best money market rates, especially considering the generous APY you can earn on your first $2,000. If your balance is below that amount, this account is one of the best rates you’ll find. However, there are other banks that will earn you more interest on higher balances, and many of those don’t have a monthly service fee or require you to complete a certain number of monthly transactions in order to earn interest.

SAFE Credit Union’s IRA account options

IRA CD rates

An IRA CD with a minimum opening deposit requirement.
  • Minimum opening deposit: $500
  • Minimum balance amount to earn APY: $500
  • Early withdrawal penalty: 12 months or less: 90 days’ of interest; more than 12 months: 120 days’ of interest

Much like SAFE Credit Union’s regular certificates, their IRA certificates require a minimum opening deposit and charge penalty rates that vary based on term. Most of their certificates are available for traditional IRAs, Roth IRAs and SEP IRAs, and rates are similar to those published on regular certificates, according to a customer service representative. You’ll have to call the credit union for up-to-date information on rates and terms for IRA certificates.

How to get SAFE Credit Union’s IRA Certificates

You must first join SAFE Credit Union as a member and open a savings account before you can open a certificate. Once you’ve joined, you can open your IRA certificate by calling the bank or visiting them in person.

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How SAFE Credit Union’s IRA CD rates compare

The best IRA CD rates offer high returns for low minimum deposit amounts and come in a variety of terms. You’ll have to contact SAFE Credit Union to see exactly how their IRA CD rates compare.

Accumulation IRA Savings account

This interest-earning IRA savings account has no minimum balance requirement.
APYMinimum Balance to Earn APY
0.25%Under $100,000
0.30%$100,000.01 - $199,999.99
0.35% $200,000 or more
  • Minimum opening deposit: $25
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: None
  • ATM fee: No charge at 30,000 CO-OP ATMs nationwide. Each non-CO-OP ATM transaction will be charged a $2 fee.
  • ATM fee refund: None
  • Overdraft fee: $30

The Accumulation IRA Savings account has a low minimum opening deposit and no balance requirement to earn interest. However, the interest earned on this account is fairly low. Many of the credit union’s other savings options, and even some of their checking options, will earn higher dividends than this IRA account.

How to get SAFE Credit Union’s IRA savings account

You must first join SAFE Credit Union as a member before you can open an IRA savings account. Once you’ve joined, you’ll be able to open an IRA savings account by calling the bank or visiting in person.

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Overall review of SAFE Credit Union’s banking products

This credit union has some great low-fee, high-rate personal banking products that would be useful to a variety of different customers. Their checking account offerings are particularly impressive, with many of them offering generous interest rates for a checking account. While most of these accounts have a monthly fee, the fee isn’t too difficult to waive, and they do offer a free checking account that doesn’t bear interest.

SAFE Credit Union’s savings options aren’t bad, but they are less impressive. Many of them don’t offer competitive rates. However, they do have a couple interesting and worthwhile certificate products.

If you’re looking to join a credit union and live within this one’s geographic footprint, it’s a great option. You should be able to find a product that fits your needs, and their customer service was extremely helpful when we contacted them. However, if you’re open to joining an online bank, there are other places where you’re likely to find better rates and lower fees.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Elizabeth Aldrich
Elizabeth Aldrich |

Elizabeth Aldrich is a writer at MagnifyMoney. You can email Elizabeth here

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Reviews

Capital Bank Review: Checking, Savings, CD and Money Market Accounts

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

Capital Bank’s checking account options

Express Checking

This is a low-fee, no-frills checking account for people who are comfortable with online banking.
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $7 (waived if you meet certain requirements, detailed below)
  • ATM fee: Free at Capital Bank ATMs and any ATM that is part of the Allpoint Network. For out-of-network ATMs, the fee is $3.00 for each transaction or balance inquiry.
  • ATM fee refund: None.
  • Overdraft fee: $37 for each item

Capital Bank’s Express Checking account is designed for people who want the bare minimum of what a checking account can offer in exchange for lower fees. With this account, you won’t be earning interest or getting access to perks that other accounts have, such as free ATMs nationwide, free checks, savings bonuses, and overdraft fee refunds. You also don’t have the option to receive paper statements – only electronic.

If you won’t take advantage of those benefits, though, the minimum opening deposit required for this account is reasonable, and the relatively low monthly service fee can be easily waived with one direct deposit per monthly statement. Although you don’t get free ATMs nationwide, Capital Bank and the Allpoint Network does have plenty of ATMs throughout the country that won’t charge you.

We always prefer checking accounts with no monthly service fee so you don’t have to worry about meeting monthly requirements. They aren’t hard to find, and many of these no-fee checking accounts have lower or no minimum opening deposit. While the Express Checking account is one of Capital Bank’s best options for minimizing fees, there are better checking accounts out there.

How to get an Express Checking account

You can easily open an Express Checking account with Capital Bank online. Their application can be completed in less than 15 minutes and requires your social security number and date of birth, a form of identification, and contact information. You can then fund your account with a transfer from another bank account or a transfer from a debit or credit card.

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Classic Checking

This account has a monthly service fee that can’t be waived and doesn’t earn interest.
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $8 (cannot be waived)
  • ATM fee: Free at Capital Bank ATMs and any ATM that is part of the Allpoint Network. For out-of-network ATMs, the fee is $3.00 for each transaction or balance inquiry.
  • ATM fee refund: None.
  • Overdraft fee: $37 for each item

Capital Bank’s Classic Checking account is nearly identical to their Express Checking account with one major difference: the monthly service fee is slightly higher, and it can’t be waived. You won’t get interest, overdraft fee refunds, or ATM fee refunds for that monthly service fee, but you will get the option to receive paper statements for free and “QuickStatements” at an ATM for a $2.00 charge, as well as 24/7 access to your account information via their customer service line.

Essentially, this account is designed for people who aren’t comfortable enough with mobile and online banking to go for the cheaper Express Checking option. We don’t think services such as paper statements and a 24/7 customer service line merit paying a monthly service fee, especially because there are plenty of online banks that offer free accounts with no minimum opening deposit requirement.

However, we also realize that paying a monthly service fee might be worth it if you’re incapable of using online banking or are simply uncomfortable with the idea of relying on electronic statements. Keep in mind that the accounts below also paper statements too but have monthly service fees that can be waived if you qualify.

How to get a Classic Checking account

You can apply for a Classic Checking account online in about 15 minutes. The application will ask for basic information like your date of birth, social security number, and a form of identification, so have those ready. Once you’re approved, you’ll have to submit the minimum opening deposit by transferring money from another bank account or from a debit or credit card.

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Select Checking

Select Checking offers a couple extra bells and whistles for a waivable monthly service fee but still doesn’t earn interest.
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $9 (waived if you meet certain requirements, detailed below)
  • ATM fee: Free at Capital Bank ATMs and any ATM that is part of the Allpoint Network. For out-of-network ATMs, the fee is $3.00 for each transaction or balance inquiry.
  • ATM fee refund: None.
  • Overdraft fee: $37 for each item

While the Select Checking account charges a slightly higher monthly service fee than the previous two accounts, it’s not too difficult to get it waived it if your account is active. In order to get a rebate for the monthly fee on the Select Checking account, you’ll need to complete one direct deposit and at least 15 debit transaction each billing cycle.

This requirement is more than what’s needed to waive the fee on the Express Checking account, but the Select Checking account does come with extra benefits like the option to order paper statements for $2.00 to $3.00 per month and one overdraft fee refund per calendar year.

The Select Checking account attempts to offer a middle ground between Capital Bank’s minimal accounts and more comprehensive, interest-bearing checking options. In the end, though, there are plenty of checking accounts that don’t have monthly service fees at all. Even though this one can be waived, it requires tracking your transactions and ensuring a monthly direct deposits, which can be a pain.

How to get a Select Checking account

The application for the Select Checking account can be found online, and requires that you submit a form of identification along with standard personal information. It should only take about 15 minutes to apply. This account also requires a minimum opening deposit, which you can pay with a credit or debit card or by transferring money from another bank account.

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Premier Checking

For folks who keep a higher balance, this interest-bearing account offers extra perks.
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $12 (waived if you meet certain requirements, detailed below)
  • ATM fee: Free ATMs everywhere in the U.S.
  • ATM fee refund: ATM fees charged by the owner of any out-of-network ATM in the U.S. are refunded.
  • Overdraft fee: $37 for each item

This account is packed with benefits and fee waivers, but it comes at a cost: the sizeable monthly service fee. You can get that waived by maintaining a minimum monthly balance of $5,000 across all of your Capital Bank accounts.

As a Premier Checking member, you’ll get free ATMs everywhere in the U.S., and Capital Bank will even refund you for ATM surcharges imposed by other institutions. You’ll also get free checks, a 50% discount on a safe deposit box, and two overdraft fee refunds per calendar year. Finally, this account bears interest. The interest rate is variable, meaning that it can change at any time, so call Capital Bank to receive the latest rates. It’s also tiered, which means that you may be able to earn more interest by maintaining a higher balance.

Overall, the fee waivers and interest make this one of Capital Bank’s better checking accounts if you’re certain you’ll be able to maintain a balance high enough to get the monthly service fee waived every month.

How to get a Premier Checking account

Fill out an application online in order to apply for the Premier Checking account. Make sure to have a form of identification and your social security number handy. You’ll need to make the minimum opening deposit upon opening the account, and you can do this with a debit or credit card or a transfer from another bank account.

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Premier Plus

Premier Plus is Capital Bank’s most comprehensive checking account.
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $18 (waived if you meet certain requirements, detailed below)
  • ATM fee: Free ATMs everywhere in the U.S.
  • ATM fee refund: ATM fees charged by the owner of any out-of-network ATM in the U.S. are refunded.
  • Overdraft fee: $37 for each item

The monthly account maintenance fee on this account is steep, and although it can be waived, you’ll have to keep a large amount of cash in your accounts to do so.  In order to qualify for a Premier Plus account, you must have an existing Premier Checking account. Upgrading to a Premier Plus account adds an additional $6 on top of the typical $12 monthly fee on the Premier Checking account. You can get the $12 fee waived by maintaining a $5,000 balance across your Capital Bank accounts. You can get the $6 fee waived by maintaining $25,000 across your accounts.

You’ll get all of the benefits that come with Premier Checking, including free ATMs nationwide, two overdraft fee refunds per year, free checks, and variable, tiered interest. On top of that, you’ll get a special savings rate bonus on Capital Bank’s Money Market Savings account that’s reserved solely for Premier Plus customers. That being said, the bonus rate is barely higher than the regular rate.

Given that this is Capital Bank’s most elite checking account, Premier Plus customers do get special attention when it comes to customer service. You’ll get your own dedicated customer service line and your calls will be given priority. If you choose to open a certificate of deposit with Capital Bank as well, you can withdraw your funds early with no penalty if you’re facing personal hardship.

How to get a Premier Plus account

You cannot apply for a Premier Plus account online. If you’d like to open this account, you’ll have to call Capital Bank or visit a branch to apply in-person.

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How Capital Bank’s checking accounts compare

Capital Bank offers a wide range of checking account options for every type of customer. However, when compared to online checking accounts, Capital Bank falls short. All of their checking accounts come with a monthly service fee, and most of them don’t offer any interest at all.

Options that do bear interest and offer extra benefits like free checks and free ATMs come with service fees and require very high balances to get the monthly service fee waived. Checking account interest rates vary and aren’t published online, but if the interest rates on their other products listed below are any indication, Capital Bank’s checking Premier checking options probably don’t offer a competitive APY.

Not only do the best online checking accounts offer high APYs, but many of them come with no monthly service fee and free ATMs nationwide for all customers. Plenty of these accounts have no minimum opening deposit requirement.

Capital Bank’s savings account options

Traditional Savings

Capital Bank’s only savings account is basic and offers minimal interest.
APYMinimum Balance to Earn APY
0.15%
$0.01
  • Minimum opening deposit: $50
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $0, (there is a quarterly maintenance fee of $5 that can be waived if you meet certain requirements, detailed below)
  • ATM fee: No fees for using in-network ATMs. Out-of-network ATMs incur a $3.00 fee for each transaction unless you’re a Premier Checking or Premier Plus customer, in which case ATMs are free nationwide.
  • ATM fee refund: No ATM fee refunds unless you’re a Premier Checking or Premier Plus customer, in which case any fees incurred at ATMs in the U.S. will be refunded.
  • Overdraft fee: $37 for each item

The Traditional Savings account from Capital Bank earns interest, but the APY is so low that you’re unlikely to even notice it. On top of that, you’ll be charged a quarterly maintenance fee if your daily balance falls below $250.

You’ll be FDIC insured on up to $250,000 with this account, which is standard. This account also offers standard features like ATM access with a linked checking account and the ability to set up automatic transfers into your savings. Keep in mind that if you’ll be transferring money out of your savings account regularly, Federal Reserve Regulation D limits savings accounts to six transfers per month.

How to get a Traditional Savings account

You can apply for a Traditional Savings account online in about 15 minutes. The application asks for your personal information, contact information, and a form of identification. In order to make the minimum opening deposit online, you’ll need to be able to pay with debit or credit card or by transferring money from another bank account.

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How Capital Bank’s savings accounts compare

Ultimately, there’s nothing special about Capital Bank’s savings account. It offers the basic services to be expected of a savings account, with low interest and a quarterly maintenance fee. While the quarterly maintenance fee is easy to waive, it is something you’ll have to keep in mind.

On the other hand, the best online savings accounts come with high APYs and, often, no monthly or quarterly maintenance fee. It’s not hard to find options that don’t have minimum balance requirements either.

Capital Bank’s CD rates

Regular CD

This CD offers a lot of flexibility and bonus rates for customers with a checking account.
TermAPYAPY for checking account customers
30 days0.02%
N/A
60 days0.02%
N/A
90 days0.02%
N/A
180 days0.06%
N/A
270 days0.06%
N/A
12 months0.10%
0.25%
24 months0.15%
0.30%
36 months0.30%
0.45%
48 months0.40%
0.55%
60 months0.55%
0.70%
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: If your term is between 1 and 364 days, you will lose 90 days of interest. Terms between 1 year and 59 months lose 180 days of interest, and terms of 60 months or longer lose 1 year of interest.

Capital Bank’s certificate of deposit accounts offer good variety when it comes to term options. They even offer several very short-term CDs that can be hard to find at other banks. This can be helpful for people who want added flexibility or plan to withdraw their money soon. You can also choose from several different interest payment options: monthly, quarterly, semi-annually, or annually.

The minimum opening deposit required is low. However, if you’re don’t have enough to meet it, there are other options that have even lower minimum opening deposit requirements.

How to get Capital Bank’s Regular CD

If you’re interested in opening a certificate of deposit (CD) with Capital Bank, you can do so online. The application is brief, and you’ll need to provide standard personal and security information as well as the funds for your opening deposit, which can be transferred from another bank account or paid with a debit or credit card.

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Add-On CD

This ultra-flexible CD allows you to add money at any time and withdraw with more leniency.
Balance to Earn APYAPY
Less than $25,0000.02%
$25,000 or more0.06%
  • Minimum opening deposit: $500
  • Minimum balance amount to earn APY: $500
  • Early withdrawal penalty: Penalty free withdrawal is allowed every six months, but more frequent withdrawals will incur a penalty fee that amounts to 90 days of interest.

Capital Bank’s Add-On CD is an easy, basic CD that offers an alternative to their traditional savings account for people who are looking for a slightly higher interest rate and won’t need to withdraw money regularly. That being said, the interest rate on this CD is still extremely low for both tiers. It’s also based on your account balance rather than terms, and the APY on the lower tier is barely higher than what’s offered by their regular savings account.

There are some redeeming features of this CD. Rather than locking up your money for a pre-specified term, you’re able to access your money without penalty once every six months. You can also add to your CD at any time with a deposit or automatic transfer of at least $25, and interest gained can be added to your CD or transferred to your checking account. Finally, the minimum opening deposit is quite low.

If you’re set on saving money with Capital Bank because you prefer their customer service or want to build a relationship with them, the Add-On CD is an option worth considering. The way it is structured is unique and gives customers a level of flexibility that most CDs don’t offer. However, if you’re looking to make the most of your money, the rates on this account aren’t even close to competitive.

How to get Capital Bank’s Add-On CD

You can apply online for an Add-On CD with Capital Bank. The application form takes about 15 minutes to complete and will require that you submit a form of identification, your social security number, and contact information. You can fund the account online with a debit or credit card or by transferring the funds from another bank account.

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How Capital Bank’s CD rates compare

Unfortunately, the rates offered by Capital Bank’s CDs just can’t compete, even when compared to national averages. If you take a look at the best CD rates available, they blow Capital Bank’s rates out of the water, offering rates as much as 10 times higher on CDs with terms of at least 12 months.

Capital Bank fares a little better when it comes to flexibility and short-term CDs, and they’re one of few banks to offer CD terms as short as 30 days and 60 days. They also have fairly low minimum deposit requirements, although a number of banks with the far better CD rates also offer CDs with low minimum opening deposits. Also, it’s worth noting that when we called customer service, the representative offered us a promotional rate on CDs that is actually competitive with some of the best rates available. So, if you plan to open a CD with Capital Bank, you should call them first to see if you qualify for any promotional rates.

Capital Bank’s money market account options

Money Market Savings

This money market account has low interest rates and charges a monthly service fee.
Balance to Earn APYAPYAPY with Premier Plus
$0.01 - $24,9990.15%
0.20%
$25,000 - $49,9990.28%
0.33%
$50,000 - $99,9990.45%
0.50%
$100,000 - $249,9990.75%
0.80%
$250,000+1.00%
1.06%
  • Minimum opening deposit: $50
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $9 (waived if you meet certain requirements, detailed below)
  • ATM fee: No fees for using in-network ATMs. Out-of-network ATMs incur a $3.00 fee for each transaction unless you’re a Premier Checking or Premier Plus customer, in which case ATMs are free nationwide.
  • ATM fee refund: No ATM fee refunds unless you’re a Premier Checking or Premier Plus customer, in which case any fees incurred at ATMs in the U.S. will be refunded.
  • Overdraft fee: $37 for each item

Capital Bank’s Money Market Savings account comes with a low minimum opening deposit requirement but it also has a monthly account maintenance fee. This can be waived by maintaining a combined balance of at least $5,000 across all of your Capital Bank accounts. However, it’s easier to go with a money market option that doesn’t charge any monthly fees at all.

On top of that, the rates offered by this account aren’t competitive. You’ll have to maintain an extremely high balance in order to earn a noticeable amount of interest, and with balances that high, you could easily find rates double what Capital Bank is offering for even its highest tiered members.

Their tiered-interest system is based on your daily balance, and interest is compounded and credit monthly. You can also link this account to your Capital Bank checking account for easier access to your funds. However, federal regulations don’t allow more than six easy withdrawals per month, and if you surpass this limit, Capital Bank may convert your savings to a checking account.

How to get Capital Bank’s Money Market Savings account

You can open a Money Market Savings account online through Capital Bank’s website. The application process is quick and easy, and you’ll be able to fund your account online with a debit or credit card or a transfer from another bank account.

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How Capital Bank’s money market accounts compare

In terms of rates, Capital Bank’s money market accounts fall short of the competition by a significant margin. Most of the best money market account rates are more than two times higher than what Capital Bank’s highest tiers offer, and many of these accounts require much lower balances to start earning good interest rates. On top of that, this money market account charges a monthly service fee, while many others don’t.

Capital Bank’s minimum opening deposit requirement is very low, so it might be a good option if you’re just getting started with your savings and don’t have a lot to deposit. That being said, several of the best money market accounts have no minimum balance amount at all. At the low rates offered by Capital Bank, even online savings accounts have more to offer.

Overall review of Capital Bank’s banking products

Folks looking to earn the most on their money might not benefit from Capital Bank’s services. Their interest rates are low to non-existent across all accounts. On top of that, all of their checking options come with unnecessary monthly service fees, as do their traditional savings and money market accounts.

Capital Bank does offer a wide range of options to fit different customer needs. They have five different checking accounts, and each one offers its own unique set of features. If you’re looking for a short-term of flexible CD, you’ll find some interesting options at Capital Bank. In the end, though, having more options doesn’t always translate to having better options, and none of the accounts mentioned offer competitive terms.

We recognize that some people prefer to bank with institutions that have less competitive rates in exchange for excellent customer service. When we called their customer service line to ask some questions, they answered immediately and were very helpful. However, in terms of products, Capital Bank falls short.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Elizabeth Aldrich
Elizabeth Aldrich |

Elizabeth Aldrich is a writer at MagnifyMoney. You can email Elizabeth here

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Reviews

Army Aviation Center Federal Credit Union Review: Checking, Savings, CD, Money Market and IRA Accounts

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

Army Aviation Center Federal Credit Union’s checking account options

Smart Rewards Checking

This non-interest-bearing account has a monthly service fee.
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: $6
  • ATM fee: Army Aviation Center Federal Credit Union ATMs are always free. The first 3 transactions at non-Army Aviation Center Federal Credit Union ATMs are also free. After 3 monthly transactions at non-Army Aviation Center Federal Credit Union ATMs, balance inquiries are $0.50 each and withdrawals are $1.00 each.
  • ATM fee refund: No
  • Overdraft fee: $28

The Smart Rewards Checking account is Army Aviation Center Federal Credit Union’s basic checking option and comes with a monthly account maintenance fee that can’t be waived, which isn’t ideal. However, it does have a low minimum opening deposit requirement.

There are some benefits that come with this checking account. You’ll get unlimited free ATMs with Army Aviation Center Federal Credit Union, as well as 3 free monthly transactions at non-Army Aviation Center Federal Credit Union ATMs. Access to all of Army Aviation Center Federal Credit Union’s online and mobile banking options comes with this account too, including free online bill pay and free direct deposits; debit cards are also free.

Finally, you’ll get perks like cell phone protection and roadside assistance. Both of Army Aviation Center Federal Credit Union’s Smart Rewards checking accounts come with BaZing benefits, a mobile app that brings users coupons and discounts for retailers and restaurants in their area.

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Smart Rewards Premium Checking

The monthly fee on this checking account can be waived by maintaining a minimum balance. It doesn’t earn interest.
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: $6 (can be waived by meeting certain requirements, specified below)
  • ATM fee: Army Aviation Center Federal Credit Union ATMs are always free. The first 3 transactions at non-Army Aviation Center Federal Credit Union ATMs are also free. After 3 monthly transactions at non-Army Aviation Center Federal Credit Union ATMs, balance inquiries are $0.50 each and withdrawals are $1.00 each.
  • ATM fee refund: No
  • Overdraft fee: $28

While this checking account also comes with a monthly service fee, it can be waived if you maintain a balance of at least $1,500 in your checking account or keep an average balance of $10,000 across all of your accounts with Army Aviation Center Federal Credit Union. This might be easy for some members to achieve, but accounts with no monthly service fees are preferable.

The Smart Rewards Premium checking account comes with all of the benefits of the Smart Rewards checking account, including 3 free monthly transactions at non-Army Aviation Center Federal Credit Union ATMs, cell phone protection, discounts with local retailers, and roadside assistance. You’ll also get purchase protection and free coin machine usage.

Given that this account has the same minimum opening deposit requirement as the first account but comes with more benefits and the ability to waive the monthly service fee, it might be a better option.

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Members Choice Plus Checking

Army Aviation Center Federal Credit Union’s most popular checking account has no monthly maintenance fee.
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: None
  • ATM fee: Army Aviation Center Federal Credit Union ATMs are always free. The first 3 transactions at non-Army Aviation Center Federal Credit Union ATMs are also free. After 3 monthly transactions at non-Army Aviation Center Federal Credit Union ATMs, balance inquiries are $0.50 each and withdrawals are $1.00 each.
  • ATM fee refund: No
  • Overdraft fee: $28

The Members Choice Plus Checking is a free checking account and Army Aviation Center Federal Credit Union’s most popular option. There’s a small minimum opening deposit required, but you don’t have to maintain any balance in order to keep the account open.

Members Choice Plus Checking account holders can open a safe deposit box starting at just $20 per year, and you can also order checks. Check printing services vary in price depending on the style and quantity you order, but they aren’t free with this account. This account doesn’t earn interest.

While this account doesn’t come with extra perks like price protection and roadside assistance; these are benefits you might already have on one of your credit cards. In the end, it’s worth sacrificing these perks for a checking account with no monthly service fee.

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Prime Checking

Members age 50 and over can enjoy extra benefits with a Prime Checking account.
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: $3 (waived if you meet certain requirements, outlined below)
  • ATM fee: Army Aviation Center Federal Credit Union ATMs are always free. The first 3 transactions at non-Army Aviation Center Federal Credit Union ATMs are also free. After 3 monthly transactions at non-Army Aviation Center Federal Credit Union ATMs, balance inquiries are $0.50 each and withdrawals are $1.00 each.
  • ATM fee refund: No
  • Overdraft fee: $28

While this account comes with a monthly account maintenance fee, it is quite low. It can also be waived if you maintain a balance of more than $10,000, although this is difficult for many.

The Prime Checking account is designed for members age 50 and over and comes with a handful of extra benefits. You’ll get a 5% discount on safe deposit boxes and free use of the bank’s coin machine. This account also includes one free box of standard checks per year, which is helpful if you tend to pay your bills using checks.

As with all Army Aviation Center Federal Credit Union checking accounts, you’ll get free unlimited use of Army Aviation Center Federal Credit Union ATMs as well as 3 free transactions at outside ATMs per month. You won’t get ATM fee refunds if the owner of an outside ATM imposes a charge.

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You Choose Debit Account

This bare bones debit account has no monthly fee.
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: None
  • ATM fee: Army Aviation Center Federal Credit Union ATMs are always free. The first 3 transactions at non-Army Aviation Center Federal Credit Union ATMs are also free. After 3 monthly transactions at non-Army Aviation Center Federal Credit Union ATMs, balance inquiries are $0.50 each and withdrawals are $1.00 each.
  • ATM fee refund: No
  • Overdraft fee: $28

Designed for people who have never had a bank account, as well as people who have struggled to stay on top of their banking in the past, the You Choose Debit account is basic and fee-free. You won’t have to pay any monthly maintenance fee, and although there’s a small minimum opening deposit required, you don’t have to maintain a balance in your account.

However, you won’t have access to checking account features such as the ability to write checks or pay bills online. This account is solely a debit card that allows you to make purchases and complete ATM transactions. This also means that you can’t overdraw your account, so you don’t have to worry about overdraft fees piling up.

While this account lacks some important features for people who prefer to pay their bills online and write checks, it’s a great, fee-free option for folks who have struggled with keeping their bank accounts in good standing in the past.

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Youth Account

The Youth Account is designed to help teens learn financial responsibility without paying a monthly fee.
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: None
  • ATM fee: Army Aviation Center Federal Credit Union ATMs are always free. The first 3 transactions at non-Army Aviation Center Federal Credit Union ATMs are also free. After 3 monthly transactions at non-Army Aviation Center Federal Credit Union ATMs, balance inquiries are $0.50 each and withdrawals are $1.00 each.
  • ATM fee refund: No
  • Overdraft fee: $28

Army Aviation Center Federal Credit Union’s Youth Account is open to teens age 13 to 18 and has no monthly maintenance fee. You’ll need to fund it with a small minimum opening deposit, but after that, there is no minimum balance requirement.

In addition to getting access to most of the checking account features offered by other accounts, your teen will also get to use the bank’s coin machine for free. The account also gives you the option to add direct deposit capability when you apply.

In order to get teens learning about financial responsibility early on, this account also offers the option to apply for a MasterCard® credit card. Overall, this is a solid, fee-free checking account for young folks.

How to get Army Aviation Center Federal Credit Union’s checking accounts

You can apply for all Army Aviation Center Federal Credit Union’s checking accounts can be applied for and opened online, except for the Youth Account. In addition to opening an account online, you are also able to speak with an Army Aviation Center Federal Credit Union representative on the phone or by visiting a branch location.

For the Youth Account, a primary applicant — and a co-applicant, if applicable — can apply jointly online, though it must be opened at a branch or by phone.

In order to apply your membership must be confirmed, and you will also have to provide personal information, including your date of birth, address and Social Security number. You may also need to give information that would be present on a government I.D., such as a driver’s license or passport.

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How Army Aviation Center Federal Credit Union’s checking accounts compare

We tend to prefer checking accounts with no monthly maintenance fees. There are several checking options at Army Aviation Center Federal Credit Union that don’t come with monthly fees. While these accounts are fairly basic, they offer most of what you’d need in a checking account.

The ATM fee and overdraft fee policy at Army Aviation Center Federal Credit Union is more generous than what you’d typically find at a larger national bank, especially given that you get three free transactions per month at out-of-network ATMs. However, none of the accounts offer interest or overdraft fee waivers.

When compared to the best online checking accounts, Army Aviation Center Federal Credit Union does pretty well but ultimate falls short of the competition. Most of these online checking accounts have no monthly service fee and no minimum balance requirement, but on top of that, they also offer interest. Several even offer free ATMs worldwide, including unlimited ATM fee reimbursements.

Army Aviation Center Federal Credit Union’s savings account options

Savings (Share) Account

A standard savings account that earns interest and charges no monthly fee.
APYMinimum Balance to Earn APY
0.30%
$5.00
  • Minimum opening deposit: $5, plus a $1 one-time membership fee
  • Minimum balance to earn APY: $5
  • Monthly account maintenance fee: None
  • ATM fee: Army Aviation Center Federal Credit Union ATMs are always free. The first 3 transactions at non-Army Aviation Center Federal Credit Union ATMs are also free. After 3 monthly transactions at non-Army Aviation Center Federal Credit Union ATMs, balance inquiries are $0.50 each and withdrawals are $1.00 each.
  • ATM fee refund: No
  • Overdraft fee: $28

This savings account will earn you interest, but the APY is low enough that you probably won’t notice it accrue. That being said, this savings account isn’t a bad choice if you prefer to bank with Army Aviation Center Federal Credit Union. It doesn’t charge a monthly maintenance fee, and the minimum opening deposit is very low.

You’ll get access to automatic deposits from your paycheck at no charge and payroll deduction with this savings account. Keep in mind that, as per Federal Reserve Regulation D, you’re allowed up to six certain withdrawals or transfers per month from a savings account. After that, Army Aviation Center Federal Credit Union reserves the right to prohibit further transactions for the month or charge a fee.

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Christmas Club Account

This add-on savings account offers a higher APY to help you save for the holidays.
APYMinimum Balance to Earn APY
0.40%
$5.00
  • Minimum opening deposit: $5 in your regular Army Aviation Center Federal Credit Union savings account
  • Minimum balance to earn APY: $5
  • Monthly account maintenance fee: None
  • ATM fee: Army Aviation Center Federal Credit Union ATMs are always free. The first 3 transactions at non-Army Aviation Center Federal Credit Union ATMs are also free. After 3 monthly transactions at non-Army Aviation Center Federal Credit Union ATMs, balance inquiries are $0.50 each and withdrawals are $1.00 each.
  • ATM fee refund: No
  • Overdraft fee: $28

You must have a regular savings account with Army Aviation Center Federal Credit Union in order to open a Christmas Club account. This add-on savings account allows you to deposit money into a separate account with a slightly higher interest rate throughout the year to be spent at the end of the year.

It’s worth noting that the increased APY is still low enough that you’re unlikely to earn much on interest. However, this can be a handy way to separate out your money for the holidays and save more, as you can set up automatic transfers or deposit a percentage of your paycheck into this account.

Your savings are held until late October when they’ll be released into your regular Army Aviation Center Federal Credit Union savings account for you spend on holiday shopping. It’s important to note that if you need to withdraw your money from this account before the scheduled release date, you’ll have to pay a $10 fee.

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Kirby Kangaroo Club Account

Open to children 12 and under, the Kirby Kangaroo Club account comes with games and stories that teach kids how to save.
  • Minimum opening deposit: $5, plus a $1 one-time membership fee
  • Minimum balance to earn APY: $5
  • Monthly account maintenance fee: None
  • ATM fee: Army Aviation Center Federal Credit Union ATMs are always free. The first 3 transactions at non-Army Aviation Center Federal Credit Union ATMs are also free. After 3 monthly transactions at non-Army Aviation Center Federal Credit Union ATMs, balance inquiries are $0.50 each and withdrawals are $1.00 each.
  • ATM fee refund: No
  • Overdraft fee: $28

This basic savings account is open to children 12 years of age and younger. It does earn interest, but you’ll have to call the credit union for the most updated rates. Kids who open a Kirby Kangaroo Club account can join the Kirby Kangaroo website and download the mobile app to access engaging games and stories that teach them about saving money.

They’ll also get to choose a prize from a treasure chest each time they come in and make a deposit, and kids will get an annual birthday card from Kirby Kangaroo himself.

The Kirby Kangaroo Club account has the same low opening deposit requirement as the rest of Army Aviation Center Federal Credit Union’s savings accounts and does not come with a monthly maintenance fee.

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Youth Savings Account

This interest-bearing savings account is designed for teens ages 13 to 18.
  • Minimum opening deposit: $5, plus a $1 one-time membership fee
  • Minimum balance to earn APY: $5
  • Monthly account maintenance fee: None
  • ATM fee: Army Aviation Center Federal Credit Union ATMs are always free. The first 3 transactions at non-Army Aviation Center Federal Credit Union ATMs are also free. After 3 monthly transactions at non-Army Aviation Center Federal Credit Union ATMs, balance inquiries are $0.50 each and withdrawals are $1.00 each.
  • ATM fee refund: No
  • Overdraft fee: $28

A great accompaniment to the Youth Checking account, Army Aviation Center Federal Credit Union’s Youth Savings account is for 13- to 18-year-olds who are ready to start learning sound financial habits. Your teen will earn interest on this account, and you can call the credit union for the latest rates. The Youth Savings account comes with no monthly maintenance fee and a very low minimum opening deposit requirement.

This account gives you the option to access online banking, direct deposits and e-statements. And while it may not earn much interest, it’s not a bad option for teenagers looking to start building a savings early on.

How to get Army Aviation Center Federal Credit Union’s savings accounts

You can apply for all Army Aviation Center Federal Credit Union’s savings accounts can be applied for and opened online, by phone or by visiting a branch, except for the Kirby Kangaroo Club, which can only be opened by phone or by visiting a branch.

In order to apply your membership must be confirmed, and you will also have to provide personal information, including your date of birth, address and Social Security number. You may also need to give information that would be present on a government I.D., such as a driver’s license or passport.

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How Army Aviation Center Federal Credit Union’s savings accounts compare

Overall, Army Aviation Center Federal Credit Union offers decent savings account options for folks who are mainly concerned with avoiding monthly maintenance fees and high minimum balance requirements. You don’t need to have much to open any of this credit union’s savings accounts.

They also offer some variety. Where there’s only one option for adults, the add-on Christmas Club savings account is a unique product that could prove useful to people who need to save a little extra for the holidays. Army Aviation Center Federal Credit Union’s savings products for teens and children are also excellent choices for getting your kids started on the right path financially.

Although Army Aviation Center Federal Credit Union’s savings accounts are low-maintenance and low-fee, they’re also low interest. This credit union falls really short of the competition when it comes to their APY. It’s worth considering that some of the best online savings accounts offer rates that are 10x higher than what Army Aviation Center Federal Credit Union offers.

Army Aviation Center Federal Credit Union’s CD rates

Share Certificates

Army Aviation Center Federal Credit Union’s Share Certificates range from 3 months to 5 years.
$1,000 to $99,999$100,000 and more
TermAPYTermAPY
3 month1.00%
3 month1.05%
6 months1.91%
6 months1.96%
9 months2.02%
9 months2.07%
12 months2.27%
12 months2.32%
18 months2.17%
18 months2.22%
24 months2.37%
24 months2.42%
36 months2.37%
36 months2.42%
48 months2.42%
48 months2.47%
60 months3.03%
60 months3.09%
  • Minimum opening deposit: $1,000 (except the 12 month certificate, which can be purchased for $500)
  • Minimum balance amount to earn APY: $1,000 (except the 12-month certificate, which earns APY starting at $500)
  • Early withdrawal penalty: 91 days of interest (the 9 month certificate allows for a one-time penalty free withdrawal)

Army Aviation Center Federal Credit Union’s Share Certificates come in terms ranging from three months to five years and offer competitive rates, even if you have a relatively low balance. Their minimum opening deposit is one of the lowest, and they also offer the option to purchase a 12 month certificate with an even lower deposit.

There’s also some flexibility when it comes to the penalty. If you think you might need to make a withdrawal, you can purchase their 9 month certificate, which allows you to do a one-time withdrawal without paying a penalty.

They don’t offer a 30 month certificate, but other than that, there’s a lot of flexibility built into this product. It’s also nice to see that although the interest is tiered, the lower tier earns almost the same as folks with large deposits.

How to get Army Aviation Center Federal Credit Union’s Share Certificates

You can get started on opening a share certificate with Army Aviation Center Federal Credit Union by giving them a call or visiting a branch.

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How Army Aviation Center Federal Credit Union CD rates compare

The share certificates at Army Aviation Center Federal Credit Union offer competitive rates and great flexibility. While some of the best CD rates are slightly higher, Army Aviation Center Federal Credit Union’s rates are comparable. In fact, the rates on their 3 month, 6 month, and 9 month certificates beat the competition by a sizeable margin.

In terms of minimum deposit amounts, Army Aviation Center Federal Credit Union’s requirements are lower than or equal to the deposits required by their competition. On top of that, the 12 month certificate has an even lower minimum deposit requirement. If you’re looking for added flexibility, the 9 month certificate offers the unique ability to do a one-time penalty-free withdrawal, a feature we don’t often see.

Army Aviation Center Federal Credit Union’s money market account options

Money Market

This money market account has a minimum balance requirement and no monthly fee.
APYMinimum Balance to Earn APY
0.50%
$1,500
  • Minimum opening deposit: $1,500
  • Minimum balance to earn APY: $1,500
  • Monthly account maintenance fee: None
  • ATM fee: Army Aviation Center Federal Credit Union ATMs are always free. The first 3 transactions at non-Army Aviation Center Federal Credit Union ATMs are also free. After 3 monthly transactions at non-Army Aviation Center Federal Credit Union ATMs, balance inquiries are $0.50 each and withdrawals are $1.00 each.
  • ATM fee refund: No
  • Overdraft fee: $28

The money market accounts at Army Aviation Center Federal Credit Union come with no monthly service fee. For a money market account, the minimum opening deposit and minimum balance required to earn interest are low, making this account relatively accessible. These accounts also offer more flexibility than CDs and IRAs, allowing you to withdraw and transfer money electronically up to 6 times per month.

However, the rates offered by this account are only slightly higher than those offered by their regular savings account. These are still not high enough to make a noticeable difference when it comes to your savings.

How to get Army Aviation Center Federal Credit Union’s Money Market account

You can apply for a money market online. The online application requires you to include a form of identification, your social security number, and address, so have those ready.

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on All In Credit Union (AL)’s secure website

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How Army Aviation Center Federal Credit Union’s money market accounts compare

It’s important to find a money market account with no monthly fees, and Army Aviation Center Federal Credit Union’s money market accounts are free. They also have lower minimum balance requirements than many other money market accounts out there, although it’s not too difficult to find others with similar or lower minimum balance amounts.

However, the most important feature of a money market account is its rates; unfortunately, when compared to the best money market rates, Army Aviation Center Federal Credit Union’s money market rates are quite low. You can find other fee-free money market accounts with rates five or six times higher than these rates, although they tend to have significantly higher opening deposit amounts. However, a few of these high interest money market accounts have low or no minimum balance requirements and don’t charge monthly maintenance fees.

Army Aviation Center Federal Credit Union’s IRA account options

IRA Term Certificate

Earn interest on Army Aviation Center Federal Credit Union’s IRA Certificates, which come in term lengths ranging from 12 months to 5 years.
$1,000 to $99,999$100,000 or more
TermAPYTermAPY
12 months2.27%
12 months2.32%
18 months2.17%
18 months2.22%
24 months2.37%
24 months2.42%
36 months2.37%
36 months2.42%
48 months2.42%
48 months2.47%
60 months3.03%
60 months3.09%
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: 91 days of interest

The IRA term certificates available at Army Aviation Center Federal Credit Union come with the same highly competitive rates you’ll get on their share certificates. While the minimum opening deposit might be difficult to achieve for some, it’s lower than what many banks require. On the flip side, if you have a large sum of money to deposit, you’ll get a slightly higher interest rate — although rates for deposits in the lower tier are almost as good.

The early withdrawal penalty on Army Aviation Center Federal Credit Union’s IRA term certificates is relatively generous, although you shouldn’t open an IRA term certificate unless you plan to keep your money parked for the full term.

How to get Army Aviation Center Federal Credit Union’s IRA Certificates

You can call or visit Army Aviation Center Federal Credit Union to open an IRA term certificate.

LEARN MORE Secured

on All In Credit Union (AL)’s secure website

NCUA Insured

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How Army Aviation Center Federal Credit Union’s IRA CD rates compare

When you look at the best IRA CD rates, Army Aviation Center Federal Credit Union’s IRA term certificates don’t quite make the list — but they come pretty close. All of their IRA term certificates offer rates that are at or near the competition, and with an early withdrawal penalty that’s less harsh than some.

If you’re looking for a short-term IRA term certificate, Army Aviation Center Federal Credit Union doesn’t offer anything under 12 months, whereas other institutions offer terms as short as three months. While their minimum opening deposit requirement is fairly low, you can find other institutions with even lower requirements.

Overall review of Army Aviation Center Federal Credit Union’s banking products

Credit unions tend to offer members great products with low fees and high returns, and Army Aviation Center Federal Credit Union is no different. While their regular savings and money market accounts can’t compete with the best online savings accounts when it comes to interest rates, their CDs are where they really shine.

They also offer a couple different low-fee checking options, including accounts for children and teens. While you can find lower fee checking options online, some folks might be interested in using their checking account to build a relationship with Army Aviation Center Federal Credit Union for future lending needs.

If you live near a branch and qualify for membership, Army Aviation Center Federal Credit Union is an excellent banking option, especially if you prefer banks with brick-and-mortar locations. However, don’t forget that taking advantage of online banks can often get you lower fees and some of the highest interest rates out there.

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Elizabeth Aldrich
Elizabeth Aldrich |

Elizabeth Aldrich is a writer at MagnifyMoney. You can email Elizabeth here