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Stock Yards Bank & Trust Company 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 may not have been previewed, commissioned or otherwise endorsed by any of our network partners.

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Stock Yards Bank & Trust’s checking account options

Secure Checking

A secure checking account with a monthly fee and unlimited check writing.
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $7
  • ATM fee: All transactions at the bank’s ATMs are fee-free. The first 4 transactions processed by other ATMs are free, and after that, each transaction will incur a $2 fee.
  • ATM fee refund: None
  • Overdraft fee: $35

Stock Yards Bank and Trust’s Secure Checking account comes with a range of services and discounts designed to make your financial life more secure. You’ll get identity theft reimbursement coverage, credit file monitoring, a free credit report every 90 days and monitoring of your identity. You’ll also have access to up to $10,000 in accidental death and dismemberment insurance, up to $300 in cellphone protection and purchase protection with your debit card.

All of this does come with a $7 monthly fee that cannot be waived, and we tend to prefer free accounts. That being said, if you’re interested in those services, you might find them worth it. The minimum opening deposit on this account is small, and there’s no minimum balance requirement. You’ll also get unlimited check writing. This is a non-interest-bearing account.

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Basic Checking

This checking account is free if you enroll in e-statements.
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $3, can be waived with e-statements
  • ATM fee: All transactions at the bank’s ATMs are fee-free. The first 4 transactions processed by other ATMs are free, and after that, each transaction will incur a $2 fee.
  • ATM fee refund: None
  • Overdraft fee: $35

The Basic Checking account comes with a small monthly fee that’s automatically charged to the account. However, if you enroll in e-statements, you’ll receive a credit each month reimbursing you for that fee.

After your first five checks written per month, you’ll be charged $0.50 each subsequent check. You’ll also be charged $0.50 each for mobile deposits. While getting reimbursed for the monthly fee is easy, all of the extra charges associated with this account can add up.

This is a non-interest-bearing checking account with a reasonable minimum opening deposit, although it’s a bit higher than the usual. It might meet your basic needs, but it’s not hard to find a better deal.

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Student Checking

A free checking account for students with few other perks.
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $3, can be waived with e-statements
  • ATM fee: All transactions at the bank’s ATMs are fee-free. The first 4 transactions processed by other ATMs are free, and after that, each transaction will incur a $2 fee.
  • ATM fee refund: The first 4 foreign ATM transactions each month are reimbursed.
  • Overdraft fee: $35

The Student Checking account is a non-interest-bearing account with a low monthly fee that will be credited back to your account as long as you enroll in e-statements. The minimum opening deposit isn’t the lowest we’ve seen, but it’s not outrageous. You can only write five checks per month without incurring a fee; after that, you’ll be charged $0.50 for each check you write.

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Premier Interest Checking

This interest-bearing checking account has a waivable monthly fee.
APYMinimum Balance to Earn APY
0.01%
$0.01
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $10, waived if certain requirements are met
  • ATM fee: All transactions at the bank’s ATMs are fee-free. The first 4 transactions processed by other ATMs are free, and after that, each transaction will incur a $2 fee.
  • ATM fee refund: None
  • Overdraft fee: $35

You’ll earn interest with the Premier Interest Checking account, although the APY is low enough that it won’t make a noticeable difference on your balance. This account comes with a sizeable monthly service fee in exchange for that interest, which can only be waived by maintaining a minimum daily balance of $1,000 in your checking account or a minimum daily balance of $5,000 across all of your Stock Yards Bank and Trust accounts.

Finally, check writing is unlimited on this account, so you don’t have to worry about fees in that arena. The minimum opening deposit is also the same as that on other checking accounts at Stock Yards Bank and Trust.

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Member FDIC

50+ Interest Checking

A tiered interest rate, lower fee and unlimited checks for customers age 50 and over.
APYMinimum Balance to Earn APY
0.01%
$0.01 - $4,999
0.02%
$5,000 - $24,999
0.02%
$25,000 - $99,999
0.03%
$100,000 and over
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $4, waived if certain requirements are met
  • ATM fee: Free unlimited ATM transactions.
  • ATM fee refund: None
  • Overdraft fee: $35

Open to customers age 50 and older, the 50+ Interest Checking account earns tiered interest at higher rates than those offered by the Premier Checking account. The monthly service fee is also lower on this account, and it can be waived if you maintain a balance of $100 in your checking account or $5,000 across all Stock Yards Bank and Trust accounts. You also get unlimited check writing.

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Platinum Checking

This account pays more in interest but requires a sky-high opening deposit.
APYMinimum Balance to Earn APY
0.00%$0.01 - $4,999
0.01%$5,000 - $24,999
0.02%$25,000 - $99,999
0.05%$100,000 - $999,998
0.07%$999,999 and over
  • Minimum opening deposit: $10,000
  • Monthly account maintenance fee: $15, waived if certain requirements are met
  • ATM fee: Free unlimited ATM transactions.
  • ATM fee refund: None
  • Overdraft fee: $35

You’ll need a large sum of money ready to deposit in order to open this account. This checking account is for customers who maintain higher balances and want to earn a higher interest rate. The APY on the Platinum Checking account is somewhat generous for a checking account, especially if your balance falls within one of the higher tiers.

However, this account comes with the highest monthly service fee and the highest minimum balance requirements to waive the fee. You’ll have to maintain a minimum daily balance of $10,000 in this account or $25,000 across all of your accounts in order to avoid paying the monthly fee. Alternatively, you can waive the monthly fee if you have at least $50,000 in loans with Stock Yards Bank and Trust.

How to get Stock Yards Bank & Trust’s checking accounts

You must apply for the Student Checking account in person, and you must show valid student identification in order to apply. The rest of Stock Yards Bank and Trust’s checking accounts can be opened online. The application form is brief and requires basic information like your Social Security number, address and a government-issued form of identification. You can always open an account in person or over the phone if you prefer.

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How Stock Yards Bank & Trust’s checking accounts compare

When stacked up against our list of the best online checking accounts, Stock Yards Bank and Trust falls behind. Not only do all Stock Yards Bank and Trust’s checking accounts charge monthly service fees, but several of them charge for other basic services such as check writing and mobile deposits. The bank’s ATM fee policy is less than generous unless you can afford Platinum Checking or qualify for 50+ Interest Checking.

While a couple of the accounts do earn interest, even the highest-earning account doesn’t outperform the competition, and it requires a very large minimum opening deposit. Overall, there’s little reason to go with this bank over the competition.

Stock Yards Bank & Trust’s savings account options

Statement Savings

A standard, interest-bearing savings account with no monthly fee.
APYMinimum Balance to Earn APY
0.01%
$0.01
  • Minimum opening deposit: $50
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $0
  • ATM fee: All transactions at the bank’s ATMs are fee-free. The first 4 transactions processed by non-SYB ATMs are free, and after that, each transaction will incur a $2 fee.
  • ATM fee refund: None
  • Overdraft fee: $35

While this savings account doesn’t have a monthly fee, it only allows for three free withdrawals per month. After that, you’ll have to pay a fee of $2 per withdrawal, so this isn’t a great option if you think you’ll need access to your savings more than three times per month.

There are no minimum daily balance requirements on this account, and you’ll earn interest on any balance no matter how small. That being said, the interest rate on this savings account isn’t competitive. There’s also no higher rate for customers with larger balances.

How to get Stock Yards Bank & Trust’s savings account

You can open a savings account with Stock Yards Bank and Trust Company online by filling out their application form. You’ll need to submit your Social Security number, address and a government-issued ID in order to complete the application, so have those ready.

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How Stock Yards Bank & Trust’s savings accounts compare

Stock Yards Bank and Trust only offers one savings option, and it doesn’t charge monthly service fees or have account minimums, which we like. However, the rates on this account are low enough that you’re unlikely to even notice interest accumulating.

The best online savings accounts offer rates that are significantly higher and also have no monthly fees or minimum balance requirements to open or earn APY. Some of them even offer ATM cards and free checking accounts, giving you easy access to your money.

Stock Yards Bank & Trust’s CD rates

Certificates of Deposit

These CDs include some hard-to-find term lengths and an unusual early withdrawal penalty.
TermAPY
30 - 90 days0.10%
 91 days0.10%
 6 Month0.15%
 1 Year0.25%
 15 Month1.85%
 18 Month0.30%
 23 Month2.25%
 2 Years0.35%
 3 Years0.40%
 4 Years0.45%
 5 Years0.55%
  • Minimum opening deposit: $500
  • Minimum balance amount to earn APY: $500
  • Early withdrawal penalty: $25 plus 3% of the amount withdrawn

The certificates of deposit at Stock Yards Bank and Trust come in a wide range of terms, including some terms we rarely see, like 30 days and 23 months. Whether you’re looking to lock up your money at a higher rate for the short term or long term, you’ll find a CD here that fits your needs.

The rates on these CDs aren’t the most competitive, with the exception of their 23 Month CD, which stands out as a fairly generous offering. The minimum opening deposit required is on par with CD offerings at other banks.

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13 Month Penalty Free Certificate

This CD pays a slightly lower rate but lets you access your money without a fee.
TermAPY
13 Month0.15%
  • Minimum opening deposit: $10,000
  • Minimum balance amount to earn APY: $10,000
  • Early withdrawal penalty: None

This certificate allows for additional flexibility if you’re worried you might need to access your money before the term is up, making it a great option for your emergency fund. You have to wait six days after opening the account to withdraw money, but after that, you’re able to withdraw up to the entire balance plus interest earned without incurring any penalties.

There is a significantly higher minimum opening deposit and minimum balance to earn APY on this CD as compared with their regular CDs. The interest rate is also a bit lower than what you’d earn on their regular 1 year certificate.

How to get Stock Yards Bank & Trust’s Certificates

You can apply for this bank’s 23 Month CD by filling out the online application form. This form is brief but does require that you submit a government-issued ID. The rest of their CDs must be applied for in person or over the phone.

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How Stock Yards Bank & Trust’s Certificate rates compare

Stock Yards Bank and Trust’s CDs come with a fairly low minimum opening deposit requirement, making them accessible to most customers. They also have a wide range of options, including a 30 Day CD, which can be hard to find. If you’re able to make a larger minimum opening deposit, you can even access their penalty-free 13 Month CD, which doesn’t offer rates as high as their regular CDs but does offer the flexibility of knowing you can withdraw your money at any point without paying a penalty.

Despite this variety and flexibility, the APYs offered on these CDs just can’t beat the best CD rates on the market. This is particularly true if you’re looking to make a larger minimum opening deposit. This bank’s best CD deals are certificates with shorter terms, specifically those that are less than one year.

Stock Yards Bank & Trust’s money market account options

Premier Money Market

This account has a relatively low minimum opening deposit requirement.
APYMinimum Balance to Earn APY
0.01%
$0.01 - $9,999
0.02%
$10,000 - $24,999
0.03%
$25,000 - $49,999
0.05%
$50,000 - $499,999
0.07%
$500,000 and over
  • Minimum opening deposit: $1,000
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $10, can be waived
  • ATM fee: All transactions at the bank’s ATMs are fee-free. The first 4 transactions processed by other ATMs are free, and after that, each transaction will incur a $2 fee.
  • ATM fee refund: None
  • Overdraft fee: $35

This money market account has a fairly low minimum opening deposit with no minimum balance to earn APY requirement. It earns tiered interest based on your account balance and offers check-writing privileges.

We tend to prefer fee-free accounts, and this account does come with a monthly maintenance fee. It can be waived by meeting the balance requirement on the accounts, which is a minimum daily balance of $1,000.

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Platinum Money Market

Higher tiered interest rates for customers with a Platinum Checking account.
  • Minimum opening deposit: $10,000
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $15, can be waived
  • ATM fee: All transactions at the bank’s ATMs are fee-free. The first 4 transactions processed by other ATMs are free, and after that, each transaction will incur a $2 fee.
  • ATM fee refund: None
  • Overdraft fee: $35

The Platinum Money Market account is open to customers who also hold a Platinum Checking account. It offers tiered interest at a higher rate than the bank’s Premier Money Market account. Rates for this account are not publicly available, so you’ll have to call Stock Yards Bank and Trust to ask for current rates in your area. Note that this account isn’t available in all areas.

The monthly maintenance fee on this account is higher, and you’ll need to maintain a minimum daily balance of $10,000 to waive it. The minimum opening deposit is also steep compared with the Premier Money Market account. You’ll also get check-writing privileges with this account.

How to get Stock Yards Bank & Trust’s Money Market accounts

You can open the Premier Money Market account online by filling out a brief application form. The Platinum Money Market account cannot be opened online. You’ll want to call Stock Yards Bank and Trust to make sure that it’s available in your area, and then you can apply for the account over the phone or in person. You will need to open a Platinum Checking account first if you don’t already have one.

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How Stock Yards Bank & Trust’s money market accounts compare

We like that Stock Yards Bank and Trust offers two money market options that serve different types of customers. The Premier account comes with a minimum opening deposit that’s accessible to most people and no minimum balance to earn APY. If you’re looking to deposit more, the Platinum account will reward you with a higher rate. Both accounts come with a monthly maintenance fee, which, while waivable, isn’t ideal.

Rates for the Platinum Money Market account aren’t published, but compared with the accounts on our list of best money market rates, this bank’s Premier account doesn’t fare well. The interest rates offered by this account are significantly lower than what you could get elsewhere, and most of these alternatives don’t charge a monthly fee. That being said, a number of them aren’t as accessible as they tend to have higher minimum balance requirements.

Stock Yards Bank & Trust’s IRA account options

IRA Certificate rates

The IRA CDs have longer terms but still require a low minimum opening deposit.
TermAPY
6 Month0.15%
  1 Year0.25%
  15 Months1.85%
  18 Months0.30%
  23 Months2.25%
  2 Years0.35%
  3 Years0.40%
  4 Years0.45%
  5 Years0.55%
  • Minimum opening deposit: $500
  • Minimum balance amount to earn APY: $500
  • Early withdrawal penalty: $25 plus 3% of the amount withdrawn

Stock Yards Bank and Trust’s IRA CDs are similar to their standard CDs, although they don’t offer terms shorter than six months. The rate structure is the same, though, as are the minimum opening deposit and minimum balance to earn APY, both of which are low.

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How Stock Yards Bank & Trust’s IRA CD rates compare

Like this bank’s regular CDs, their IRA CDs don’t manage to stand up to the best IRA CD rates, which are a great deal higher than what’s offered here. Again, the 23 Month IRA CD offered by Stock Yards Bank and Trust does do better when compared with the competition.

IRA Money Market account

Earn a small amount of interest with a very low minimum opening deposit.
APYMinimum Balance to Earn APY
0.10%
$25
  • Minimum opening deposit: $25
  • Minimum balance to earn APY: $25
  • Monthly account maintenance fee: $0
  • ATM fee: All transactions at the bank’s ATMs are fee-free. The first 4 transactions processed by other ATMs are free, and after that, each transaction will incur a $2 fee.
  • ATM fee refund: None
  • Overdraft fee: $35

This IRA Money Market account comes with a very low minimum opening deposit and a low minimum balance required to earn APY, making it accessible to most customers. That being said, the interest rate currently isn’t any higher than what’s offered by this bank’s regular savings account.

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IRA Savings account

These tax-advantaged savings accounts will help you save for retirement.
  • Minimum opening deposit: $0
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $0
  • ATM fee: All transactions at the bank’s ATMs are fee-free. The first 4 transactions processed by other ATMs are free, and after that, each transaction will incur a $2 fee.
  • ATM fee refund: None
  • Overdraft fee: $35

Stock Yards Bank and Trust Company offers IRAs to customers who want to contribute to their retirement in a tax-advantaged retirement account. You can choose from a traditional IRA, Roth IRA or SEP IRA. Each account has contribution limits, and withdrawing your money before age 59½ may incur penalties. You’ll need to call to find their current rates.

How to get Stock Yards Bank & Trust’s IRA accounts

You can open this bank’s IRA accounts by calling or visiting them in person. None of the IRA accounts are open to online applications.

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Overall review of Stock Yards Bank & Trust’s banking products

Few of Stock Yards Bank and Trust’s banking products stand up to the competition in terms of fees and interest rates. A few of their checking accounts earn interest, but all of them charge monthly fees. Even if these fees can be easily waived, there are plenty of checking options that don’t charge a monthly service fee at all. They do have a fairly generous ATM fee policy, although it isn’t fee-free.

Their savings and investment products offer better interest rates than larger, traditional banks, but you can still find higher APYs at other banks and credit unions. While their savings account has no fees, the money market accounts do charge sizeable monthly maintenance fees. In terms of product range, they do offer a variety of different certificates, money market and retirement accounts to meet your unique individual needs.

Stock Yards Bank and Trust has a great reputation, and their customer service representatives were pleasant and helpful when we contacted them. However, their accounts are less than ideal for customers seeking out the lowest fees and the highest returns.

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Signature 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 may not have been previewed, commissioned or otherwise endorsed by any of our network partners.

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Signature Federal Credit Union’s checking account options

Standard Checking

A free checking account with a modest interest rate.
APYMinimum Balance to Earn APY
0.05%
$0.01
  • Minimum opening deposit: $0
  • Monthly account maintenance fee: $0
  • ATM fee: Free ATMs at CO-OP and Culiance network branches, of which there are over 30,000 nationwide; Signature Federal Credit Union does not charge a fee for out-of-network ATM use, but the providers of those ATMs likely will
  • ATM fee refund: None
  • Overdraft fee: $30

This basic checking account earns interest, although the APY is minimal. But you won’t have to make a minimum opening deposit or pay any monthly fees to have this account. That it earns interest at all is generous.

You’ll also get a free order of standard checks each year and free ATM usage at a nationwide network of over 30,000 ATMs. The credit union also offers comprehensive online banking services and e-statements.

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NCUA Insured

Legacy Checking

A higher APY for members 55 and older.
APYMinimum Balance to Earn APY
0.05%
$0.01
  • Minimum opening deposit: $0
  • Monthly account maintenance fee: $0
  • ATM fee: Free ATMs at CO-OP and Culiance network branches; Signature Federal Credit Union does not charge a fee for out-of-network ATM use, but the providers of those ATMs likely will
  • ATM fee refund: None
  • Overdraft fee: $30

Similar to the Standard Checking account, Signature Federal Credit Union’s Legacy Checking account has no minimum opening deposit requirement and doesn’t charge monthly service fees. You’ll also get access to a network of 30,000 free ATMs and a free box of checks each year.

The only difference between these two accounts is that Legacy Checking is only open to customers who are 55 or older. You’ll earn a slightly higher APY on this account without any minimum balance requirements.

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Choice Checking

If you meet certain requirements, the Choice Checking account allows you to choose whether you prefer a high-yield APY, ATM fee reimbursements or rewards points.
High-Yield Choice CheckingMinimum Balance to Earn APY
1.50%
$0.01
1.50%
$15,000.01
ATM/Rewards Choice CheckingMinimum Balance to Earn APY
0.05%
$0.01
  • Minimum opening deposit: $0
  • Monthly account maintenance fee: $0
  • ATM fee: Free ATMs at CO-OP and Culiance network branches; Signature Federal Credit Union does not charge a fee for out-of-network ATM use, but the providers of those ATMs likely will
  • ATM fee refund: If you choose ATM fee reimbursements as your preferred benefit, you’ll get up to $10 in ATM fees from out-of-network ATMs reimbursed each month
  • Overdraft fee: $30

As a Choice Checking account holder, you get to choose one benefit to be added to your account. The choice is between a higher dividend rate, up to $10 a month in out-of-network ATM fee reimbursements, or debit card reward points, depending on your goals and spending habits.

Although it has no monthly fees, you do have to meet certain requirements to qualify for the Choice Checking account. You’ll need to receive monthly direct deposits into your account of at least $1,000 and enroll in e-statements. Also, if you want to qualify for the high dividends benefit, you’ll need to make at least 10 in-store or online purchases each month on your debit card. The high-yield APY option is very high for a checking account, although if your account balance surpasses a limit that’s quite high for your everyday customer, your APY will be lowered to the standard rate.

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NCUA Insured

Student Checking

A free checking account with free ATMs nationwide.
APYMinimum Balance to Earn APY
0.05%
$0.01
  • Minimum opening deposit: $0
  • Monthly account maintenance fee: $0
  • ATM fee: Student Checking account holders get nationwide free ATMs; charges imposed for out-of-network ATM use may apply
  • ATM fee refund: None
  • Overdraft fee: $30

This fee-free account designed for students earns interest, although the rate is so low that you’re unlikely to notice it grow. As an account holder, you’ll also get 100 free checks a year and free ATMs nationwide, which is an excellent benefit if you often find yourself having to use out-of-network ATMs.

You don’t have to maintain a minimum balance or deposit a certain amount to open this account. You’ll also get a Visa debit card that you can use worldwide.

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NCUA Insured

Youth Checking

A youth account with a higher APY to teach your kids money saving habits early.
APYMinimum Balance to Earn APY
0.10%
$0.01
  • Minimum opening deposit: $0
  • Monthly account maintenance fee: $0
  • ATM fee: Free ATMs at CO-OP and Culiance network branches; Signature Federal Credit Union does not charge out-of-network fees, but the providers of those ATMs likely will
  • ATM fee refund: None
  • Overdraft fee: $30

Youth Checking accounts are open to those ages 13 to 17. To open an account, you must have a qualified adult guardian who is age 18 or older as a joint account holder on your Youth Checking account. You’ll get a Visa debit card that can be used worldwide once you open the account. It doesn’t come with checks.

As a Youth Checking account holder, you’ll earn interest at a slightly higher rate than the credit union’s standard APY. You won’t have to worry about monthly fees or maintaining a minimum balance, and you’ll have access to more than 30,000 free in-network ATMs.

How to get Signature Federal Credit Union’s checking accounts

To open a checking account at Signature Federal Credit Union, you’ll need to first become a member. You can fill out a membership application online, which will ask you to select your eligibility for membership. If you’re approved, you’ll need to open a savings account and deposit $5.

After that, you can submit an application for your preferred checking account online. If you’re already a member, you don’t need to apply for a checking account. You can email or call the credit union’s member services department at 800-336-0284, ext. 684, to get your new checking account set up.

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NCUA Insured

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How Signature Federal Credit Union’s checking accounts compare

This credit union offers a variety of checking account options. All of them come with no monthly fees, no opening deposit requirements and no minimum balance requirements to earn interest — and they all earn interest. You also don’t have to worry about Signature Federal Credit Union charging for ATM fees whether you’re using an in-network or out-of-network ATM.

While some of the best online checking accounts earn significantly higher interest rates, the checking account options at Signature Federal Credit Union are still excellent for the low fees and minimal account requirements. What’s more, its Choice Checking account earns a higher interest rate than almost any of the best online checking accounts if you select the high-yield APY benefit and meet certain requirements.

Signature Federal Credit Union’s savings account options

Savings

This interest-bearing account has no monthly fees and a low opening deposit.
APYMinimum Balance to Earn APY
0.15%
$100
  • Minimum opening deposit: $5
  • Minimum balance to earn APY: $100
  • Monthly account maintenance fee: $0
  • ATM fee: Free ATMs at CO-OP and Culiance network branches; Signature Federal Credit Union does not charge a fee for out-of-network ATMs
  • ATM fee refund: None
  • Overdraft fee: $30

You’ll need to meet a minimum balance threshold to start earning interest on this account, but the required amount is easy to meet. The minimum balance requirement is based on your average daily balance.

If you meet the APY threshold, the interest rate is fairly low for a savings account. But there’s also a very low minimum opening deposit requirement. You won’t have to pay a monthly service fee or maintain a certain balance to have this savings account.

As per Federal Reserve Regulation D, savings and money market accounts such as this one are limited to six certain withdrawals or transfers a month.

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NCUA Insured

Youth Savings account

Children ages 17 and younger earn higher interest rates with this free savings account.
APYMinimum Balance to Earn APY
0.25%
$5
  • Minimum opening deposit: $5
  • Minimum balance to earn APY: $5
  • Monthly account maintenance fee: $0
  • ATM fee: Free ATMs at CO-OP and Culiance network branches; no fee for out-of-network ATMs
  • ATM fee refund: None
  • Overdraft fee: $30

Signature Federal Credit Union’s Youth Savings account offers a higher APY to help encourage kids and teens to start saving early. Once you’re 18 years or older, you can no longer have a Youth Savings account.

To open this account, a qualified adult guardian must be added as a joint account holder. Students can participate in a rewards program that offers promotional deposits for excellent grades by submitting their report cards. You’re allowed up to six certain monthly withdrawals or transfers on this account, a requirement put in place by Regulation D.

How to get Signature Federal Credit Union’s savings accounts

Opening a savings account with a $5 deposit is the first step to joining Signature Federal Credit Union. You’ll need to first establish your membership eligibility by filling out an online membership application. The application is brief and asks you to supply your reasons for eligibility, as well as a photo of your government-issued ID.

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NCUA Insured

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How Signature Federal Credit Union’s savings accounts compare

Compared to the best online savings accounts, Signature Federal Credit Union’s savings options are significantly behind in terms of rates. None of these account options offer a high-yield APY.

That being said, they also come with no monthly fees and no minimum balance requirements, and opening an account is as easy as depositing five dollars. It’s worth noting that a few online savings accounts also come with no monthly fees and low minimum opening deposits but earn far higher interest rates.

Signature Federal Credit Union’s CD rates

Share Certificates

These certificates have a low opening deposit and come in terms ranging from three months to five years.
TermAPY
3 months0.30%
  6 months0.35%
  9 months0.45%
  12 months0.50%
  18 months0.60%
  24 months0.65%
  3 years0.70%
  4 years0.75%
  5 years0.80%
  • Minimum opening deposit: $500
  • Minimum balance amount to earn APY: $500
  • Early withdrawal penalty: The early withdrawal penalty depends on the certificate term; you’ll pay half of the interest that would be earned throughout the full term of the certificate.

In exchange for leaving your account balance untouched for the full term, you’ll earn a significantly higher APY than you would with Signature Federal Credit Union savings accounts. Its Share Certificates come in a variety of terms, including three month and 18 month certificates, which can be harder to find. Minimum opening deposits on these certificates are fairly standard.

You can’t make additional deposits once your Share Certificate has been opened. If you withdraw your money before the term is up, a sizable penalty will be incurred. At the end of your term, you can opt to withdraw your funds or roll them into a new certificate at new rates.

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Jumbo Share Certificates

Earn a higher APY for a larger opening deposit.
TermAPY
1 year0.50%
  2 years0.65%
  3 years0.70%
  4 years0.75%
  5 years0.80%
  • Minimum opening deposit: $100,000
  • Minimum balance amount to earn APY: $100,000
  • Early withdrawal penalty: Depends on the certificate term; you’ll pay half of the interest that would be earned throughout the full term of the certificate

Signature Federal Credit Union’s Jumbo Share Certificates are for customers who can make a large opening deposit. By maintaining a high balance, you’ll earn a slightly higher interest rate.

The Jumbo Share Certificates have fewer term options than the Share Certificates, with the shortest term option being a year. Withdrawing your money before the term is complete will result in a substantial penalty.

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EZ Save Certificate

You can open this certificate with a very low minimum deposit and add to it throughout the term.
TermAPY
1 Year1.00%
  • Minimum opening deposit: $50
  • Minimum balance amount to earn APY: $50
  • Early withdrawal penalty: Half of the interest that would be earned throughout the full term

For customers who want some added flexibility, Signature Federal Credit Union offers the EZ Save Certificate. This certificate comes in only one term option — one year — but the minimum opening deposit and minimum balance to earn APY are far lower than what’s required for the Share Certificate. You’ll still get the same interest rate.

You can also add money to this certificate whenever you want, making it a great option for people who want to start out with a small opening deposit and add money as they earn it. You still have to pay an early withdrawal penalty if you take out your money before the term is over.

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Advantage Certificate

A limited-time promotion that offers a higher APY.
TermAPY
13 months2.75%
  • Minimum opening deposit: $500
  • Minimum balance amount to earn APY: $500
  • Early withdrawal penalty: Half of the interest that would be earned throughout the full term

The Advantage Certificate is a limited-time promotion offered by Signature Federal Credit Union that gives customers a promotional rate on 13 month certificates. This rate is notably higher than the APYs on most of its Share Certificates. Apart from the special rate, this certificate is identical to the credit union’s Share Certificates.

How to get Signature Federal Credit Union’s certificates

If you’re already a member of Signature Federal Credit Union, you can open a certificate by calling or emailing its member services department. If you’re not a member, you’ll need to first fill out a membership application form, which can be found online. If you’re eligible, the credit union requires you to open a savings account and deposit $5 to initiate your membership.

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How Signature Federal Credit Union’s certificate rates compare

From better rates for higher balances to promotional certificates and certificates with low opening deposits that you can add money to as you go, Signature Federal Credit Union offers a certificate option for everyone. They come in a variety of terms with minimum balance requirements for all budgets.

But if you compare its certificates to the best CD rates, even its Jumbo Share Certificates fall short. The only options that perform well when compared to the competition are the EZ Share Certificate, for its extremely low minimum opening deposit, and the Advantage Certificate, for its promotional APY.

Signature Federal Credit Union’s money market account options

Money Market

A money market account with no opening deposit requirement and a low minimum balance to earn APY.
APYMinimum Balance to Earn APY
0.20%
$500
0.25%
$10,000
0.30%
$50,000
  • Minimum opening deposit: $0
  • Minimum balance to earn APY: $500
  • Monthly account maintenance fee: $0
  • ATM fee: Free ATMs at CO-OP and Culiance network branches; no out-of-network fee
  • ATM fee refund: None
  • Overdraft fee: $30

With Signature Federal Credit Union’s Money Market account, you’ll earn a rate higher than its standard savings rate. But you do have to maintain a larger minimum balance to earn interest on this account. Dividends are also tiered, which means that larger balances will earn more generous rates.

There’s no early withdrawal penalty associated with money market accounts, but you can only make six withdrawals a month. This account also comes with 50 free checks a year.

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Legacy Money Market

Earn an extra 0.10% APY if you’re age 55 or older.
APYMinimum Balance to Earn APY
0.25%
$500
0.30%
$10,000
0.35%
$50,000
  • Minimum opening deposit: $0
  • Minimum balance to earn APY: $500
  • Monthly account maintenance fee: $0
  • ATM fee: Free ATMs at CO-OP and Culiance network branches; no out-of-network fees
  • ATM fee refund: None
  • Overdraft fee: $30

The Legacy Money Market account has the same requirements in terms of minimum balances and opening deposits as the regular Money Market account. The differences are that it’s only open to customers 55 or older and it earns a slightly higher APY. You’re still limited to six transactions a month, and you’ll get 50 free checks a year.

How to get Signature Federal Credit Union’s Money Market account

Members of Signature Federal Credit Union can call the membership services department to open a new money market account. If you’re not a member of the credit union, you can fill out an online membership application to determine your eligibility. Once approved, you’ll need to open a savings account with a $5 deposit to become a member, and then you can open a money market account.

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How Signature Federal Credit Union’s money market accounts compare

The best money market rates outperform both of Signature Federal Credit Union’s money market accounts by a significant margin. While most of them have a higher APY requirement, several have no minimum balance requirements. Neither Signature Federal Credit Union’s money market accounts nor the best money market accounts charge monthly service fees.

Signature Federal Credit Union’s IRA account options

IRA Certificate

An IRA Certificate with a variety of terms.
TermAPY
3 months0.30%
 6 months0.35%
 9 months0.45%
 12 months0.50%
 18 months0.60%
 24 months0.65%
 3 years0.70%
 4 years0.75%
 5 years0.80%
  • Minimum opening deposit: $500
  • Minimum balance amount to earn APY: $500
  • Early withdrawal penalty: Half of the interest that would be earned throughout the full term of the certificate

Signature Federal Credit Union offers its Share Certificates as IRA Certificates with the same flexibility on terms and interest rates. These IRA Certificates are available for both traditional and Roth IRAs. Once you’ve opened your IRA Certificate, no additional deposits can be made.

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IRA Jumbo Certificate

Higher interest for a higher account balance.
TermAPY
1 year 0.50%
2 years0.65%
3 years0.70%
4 years0.75%
5 years0.80%
  • Minimum opening deposit: $100,000
  • Minimum balance amount to earn APY: $100,000
  • Early withdrawal penalty: Half of the interest that would be earned throughout the full term of the certificate

Jumbo Share Certificates can be opened as either regular Share Certificates or IRA Certificates, with the same rates and term options. You’ll earn a higher interest rate for making a larger opening deposit with these certificates. You can’t add money to your IRA Jumbo Certificate once it’s been opened.

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How Signature Federal Credit Union’s IRA CD rates compare

The best IRA CD rates are quite a bit higher than the rates offered by Signature Federal Credit Union’s IRA Certificates. Even when compared to IRA CDs with similar or lower minimum opening deposit requirements, Signature Federal Credit Union’s offerings fall short.

IRA Savings

Earn interest with no minimum balance requirement.
APYMinimum Balance to Earn APY
0.70%
$0.01
  • Minimum opening deposit: $0
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $0
  • ATM fee: Free ATMs at CO-OP and Culiance network branches; no out-of-network fees
  • ATM fee refund: None
  • Overdraft fee: $30

Signature Federal Credit Union offers both traditional IRA and Roth IRA savings accounts. Traditional IRA accounts allow you to make tax-deferred contributions to your savings, while Roth IRA accounts allow contributions after tax. With both accounts, you’ll have to wait until you’re age 59 ½ to withdraw money if you want to avoid penalties. It’s recommended that you consult a tax advisor about opening an IRA savings account. As with any savings account regulated by Federal Reserve Regulation D, you’re only allowed six certain transfers and withdrawals per month.

How to get Signature Federal Credit Union’s IRA Savings account

You can fill out a membership application online to join Signature Federal Credit Union. To become a member, you’ll need to meet the membership eligibility requirements discussed at the beginning of this review, and you’ll need to open a savings account with a $5 opening deposit. After that, you can speak with member services about opening an IRA Savings account.

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Overall review of Signature Federal Credit Union’s banking products

Signature Federal Credit Union shines when it comes to its low fees. None of this credit union’s accounts charge monthly fees or require that you maintain a minimum monthly balance, which is a huge plus. While some have minimum opening deposit requirements, they’re all quite low. Although only one account offers ATM reimbursements for fees charged by other ATM providers, the credit union itself doesn’t assess a fee for out-of-network ATM usage, and they have a large network of 30,000 ATMs for members to use.

The checking accounts offered by Signature Federal Credit Union are especially worth considering. Not only do they come with virtually no fees, but they all earn interest — and some of them come with extra perks. It might also be worth building a relationship with this credit union if you’re hoping to access some of its credit and lending services in the future.

When it comes to rates offered by its savings, money market, certificate and IRA accounts, Signature Federal Credit Union doesn’t fare as well. While its fees are still low, the APY on these accounts is rarely competitive. It does have a couple of certificates worth considering due to promotional rates and low minimum opening deposit requirements. But this credit union might not be the best place to park large sums of money.

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

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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
0.85%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
0.05%$2,000 - $9,999.99
0.10%$10,000 - $24,999.99
0.10%$25,000 - $49,999.99
0.15%$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
0.75%First $25,000
0.05%$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
0.05%$0.01
APY for Perfect Cents Checking customersMinimum Balance to Earn APY
0.85%First $1,000
0.05%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 months0.15%0.20%
6-11 months0.30%0.35%
12-23 months0.45%0.55%
24-35 months0.50%0.75%
34 month certificate special2.53%2.53%
36-47 months0.60%0.80%
48-59 months0.80%0.95%
60-72 months1.00%1.11%
  • 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 months0.35%
  • 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
0.05%$2,000 - $9,999.99
0.10%$10,000 - $24,999.99
0.10%$25,000 - $49,999.99
0.15%$50,000 - $99,999.99
0.15%$100,000 - $199,999.99
0.20%$200,000 - $499,999.99
0.25%$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
2.02%First $2,000
0.10%$2,000 - $49,999.99
0.30%$50,000 - $99,999.99
0.40%$100,000 - $199,999.99
0.50%$200,000 - $499,999.99
0.60%$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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on SAFE Credit Union’s secure website

NCUA Insured

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.