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Review of Chase Liquid® Prepaid Card

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

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The Chase Liquid® Prepaid Card is backed by the strength of the largest banks in the United States. Although known for its credit cards and high-level banking operations, Chase also offers a competitive product in the prepaid card space. Perhaps surprisingly for those familiar with the workings of larger banks, the Chase Liquid® Prepaid Card is relatively fee-free.

Like all prepaid cards, the Chase Liquid® Prepaid Card is neither a checking account nor a credit card. However, it does provide banking services that overlap these more commonly used financial instruments. For example, with the Chase Liquid® Prepaid card, you can make purchases, similar to a credit card, and you can access cash at ATMs, just like you could with a checking account or debit card.

While overall the Chase Liquid® Prepaid Card doesn’t nickel-and-dime customers with a boatload of fees, there are costs to using the card, and they can add up over time. Each individual cardholder will have to determine if the features and benefits offered by the card outweigh the costs.

Chase Liquid® Prepaid Card features

Pay bills online. You can use Chase Online Bill Pay at merchant sites that accept Visa debit cards.

No cash withdrawal fees at Chase ATMs and branches. You’ll never pay an ATM withdrawal fee if you stick with Chase ATMs; a nice added perk is that you can also withdraw money out of a Chase branch, free-of-charge.

No fees to reload. Unlike many other prepaid debit cards, Chase doesn’t charge you to reload the card, no matter how you choose to do it.

Spend or shop anywhere Visa debit cards are accepted. You can use the Chase Liquid® Prepaid Card to make purchases anywhere that Visa debit cards are accepted, including online retailers.

Zero liability protection. Assuming you notify Chase promptly, you won’t have to worry about being responsible for any unauthorized charges on your Chase Liquid® Prepaid Card.

Starbucks-affiliated card available. If you so desire, you can open the Starbucks Rewards Visa Prepaid Card instead, which offers you Starbucks Rewards Stars everywhere you shop.

Free Chase Mobile® app. Access your Chase Liquid® Prepaid Card account 24/7, just as if you had a traditional bank account.

Chase Liquid® Prepaid Card fees and fine print

The Chase Liquid® Prepaid Card has a monthly service fee, but beyond that, there aren’t a lot of annoying per-transaction costs. Most of the additional fees attached to the Chase Liquid® Prepaid Card are for less-common scenarios, like if you need to request a replacement card.

Chase Liquid® Prepaid Card Fees

Type

Fee

Pro tip

Card purchase fee$0
Monthly fee$4.95 per monthFee waived if linked to a qualifying Chase checking account.
Purchase transactions$0
Online bill pay$0
Bill pay using your 16-digit card number$0Individual merchants may assess their own fees.
Chase QuickPay with Zelle$0This service allows you to send or receive money using an email or mobile phone number.
Money order$5Up to $1,000
Cashier’s check$8No restriction on amount
Withdrawals from Chase ATMs or Chase branches$0
Non-Chase ATM withdrawals$2.50Individual ATM operators may charge their own additional fees.
Non-Chase branch withdrawals$0Individual banks may assess their own fees.
Non-Chase ATM balance inquiry$2.50Additional ATM owner fees may apply.
International ATM cash withdrawal or balance inquiry$2.50Additional ATM owner fees may apply.
Foreign exchange rate adjustment3%
Chase telephone banking customer service$0
Balance inquiry$0
Card replacement -- rush request$5Avoid this fee by requesting standard delivery.
Non-Chase ATM transfer$2.50Additional ATM owner fees may apply.
Return of deposit item or cashed check$12
Legal processing$75 per orderFor the processing of any garnishment, tax levy or other court order
Inactivity fee$0
Check writingN/A
Wire transfers (incoming and outgoing)N/A
Using your account number to pay third partiesN/AFor this type of transaction, use your card number, not your account number.

Unless you have an attached, qualifying Chase checking account, you’ll pay $59.40 per year in monthly fees. However, this fee includes all of your purchase transactions and cash reloads, in addition to cash withdrawals at Chase ATMs and Chase branches.

The only additional fee that most cardholders might commonly face is the non-Chase ATM withdrawal fee of $2.50, on top of any operator surcharges. International travelers might also get dinged by the 3% foreign transaction surcharge.

In the prepaid card world, a $4.95 monthly fee is somewhat in the middle of the road. Some prepaid cards charge monthly fees in the $10 range, while others have no monthly fees at all. However, the fact that the Chase Liquid® Prepaid Card’s $4.95 monthly fee includes so many services, from Chase ATM withdrawals to purchase transactions and cash reloads, makes that fee seem low by comparison.

If you follow the pattern of most prepaid card users, you’re not likely to face many additional fees.

Using the Chase Liquid® Prepaid Card app

The Chase Liquid® Prepaid Card uses the same Chase Mobile® app that the bank offers to all of its customers. The Chase Mobile® app allows you to access your account 24/7 from your mobile device. You can use the app to view your transactions, deposit checks, pay bills, and receive customized email or text alerts. You can also pay others from the app using Chase QuickPay® with Zelle®.

Other features available on the app include the following:

  • Transfer money between Chase accounts or other eligible banks
  • Get rewards information
  • Set up Account Alerts
  • Confirm deposits and see check images
  • Find nearby branches or ATMs
  • Find Chase contact numbers

You can get the app for Android devices using Google Play, or via the App Store for Apple devices. You can also text the word “mobile” to 24273 to receive a link to the app. You’ll need a Chase Online username and password to sign in to the app; you’ll also need a username and password to access the Chase website, so it’s worth doing even if you don’t want to use the mobile app.

Once you’ve downloaded the app, you’ll need to register your device to use it.

Opening a Chase Liquid® Prepaid Card account

You can open a Chase Liquid® Prepaid Card account online.
To start the process, you’ll need your Social Security number and driver’s license or state ID. If you’re already a Chase customer, the bank can pull up your personal and financial information automatically to expedite the process. If not, you’ll need to provide your name, address, date of birth and/or more for identification purposes. You’ll also need to provide your email address and phone number.

Once your identity is verified, you can set up your account preferences and then begin using your card.

One thing to note is that unlike most prepaid cards, Chase reserves the right to run a credit check when you apply for the card. Although it appears that in most cases applications are simply checked for identification purposes, Chase may collect your credit information.

How to reload your Chase Liquid® Prepaid Card

You can load your Chase Liquid® Prepaid Card in one of four ways:

  • Via direct deposit
  • Via deposits at a Chase ATM or Chase branch
  • Using Chase QuickDeposit on the mobile app
  • Via checking or savings account transfers

Unlike many other prepaid cards, you can’t use a convenience store or Netspend reload location to put money on your card. However, Chase also doesn’t charge any fees to reload the card, so for those who are near a Chase location, use the mobile app, have an existing checking or savings account or receive payments via direct deposit, this limitation might not be that much of an inconvenience.

Note that cash reloads are limited to $4,000 per month. Purchases carry a $3,000 daily limit, while daily ATM transactions are restricted to $500. You can apply to have the ATM and purchase limitations raised, subject to approval from Chase.

Who could benefit from the Chase Liquid® Prepaid Card?

Existing customers of Chase can benefit from using the Chase Liquid® Prepaid Card, primarily because most of the functions of the card are built around Chase banking products.

ATM withdrawals, for example, are free at Chase ATMs, but cost $2.50 at non-Chase ATMs. Similarly, if you want to reload your card but don’t have direct deposit, your options are limited to Chase ATMs, Chase branches, or transfers from existing checking or savings accounts. More traditional prepaid card reload outlets, such as certain convenience stores, are not an option.

This isn’t an inconvenience for existing Chase customers, but the irony is that prepaid cards are generally used by those that can’t qualify for traditional checking or credit card accounts. If you’ve already got a Chase checking, savings or credit card account, there may not be much more that the Liquid® Prepaid Card can do for you.

Overall, the surprisingly low overall fee structure of the Chase Liquid® Prepaid Card — once you look past the $4.95 monthly fee — makes it an attractive card from a cost perspective for most potential customers. The fact that Chase doesn’t tack on additional fees for everyday purchases and cash withdrawals from Chase branches or ATMs is a big plus.

If you already qualify for traditional Chase banking products, the Chase Liquid® Prepaid Card might not offer enough additional benefits to offset the monthly fee. However, for traditional prepaid card users, the card offers a lot of features for one moderate monthly fee.

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.

John Csiszar
John Csiszar |

John Csiszar is a writer at MagnifyMoney. You can email John here

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Reviews

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

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

Year Established1934
Total Assets$1.9B
LEARN MORE TTCU Federal Credit Union’s secure websiteNCUA Insured

TTCU Federal Credit Union was founded in 1934 as Tulsa Teachers Credit Union and has grown into the second-largest credit union in Oklahoma with $1.8 billion in assets. TTCU Federal Credit Union has more than 130,000 members today, counting teachers, school administrators, students, and staff, and over 600 affiliated groups among its customers.

To open an account at TTCU Federal Credit Union, you must first become a member. Membership is open to:

  • Employees, volunteers and students at one of more than 220 selected schools in Oklahoma.
  • Employees, members or volunteers at an affiliated company or group, as outlined on the credit union’s website.
  • Members, employees or volunteers of the Oklahoma Parent Teachers Association.
  • Persons retired from any of the above.

Immediate family members or people who share a household with eligible members are also able to apply for membership. Applicants can become members either online, at a branch or by calling (918) 749-8828, where a customer service representative can assist with the membership process.

Most TTCU Federal Credit Union accounts can be opened online. You’ll need the following information and documentation to proceed:

  • Social Security number
  • Valid ID, like a passport, military ID, or driver’s license
  • U.S. citizenship or resident alien status
  • Funding information, if coming from an external account

You’ll also need to provide various personal and financial information, including your name, date of birth and address. The credit union will also obtain a copy of your credit report.

TTCU Federal Credit Union offers a traditional line of consumer banking products, including checking and savings accounts, CDs, IRAs and a money market account. Here’s a look at the fees and charges of each account, along with minimum balance and opening requirements, and other features and benefits.

TTCU Federal Credit Union’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

0.30%

Savings

TTCU Federal Credit Union Savings (Share) Accounts

2.10%

American Express National Bank High Yield Savings Account

on American Express National Bank’s secure website

Member FDIC

2.20%

CD Rates

TTCU Federal Credit Union 12 Month CD

2.75%

Goldman Sachs Bank USA High-yield 12 Month CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

2.40%

CD Rates

TTCU Federal Credit Union 36 Month CD

2.90%

Synchrony Bank 36 Month CD

on Synchrony Bank’s secure website

Member FDIC

2.80%

CD Rates

TTCU Federal Credit Union 60 Month IRA

3.10%

Goldman Sachs Bank USA High-yield 5 Year CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

TTCU Federal Credit Union’s checking account options

Free Checking

This is the entry-level checking account at TTCU Federal Credit Union and does not pay interest.
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: $0
  • ATM fee: $0
  • ATM fee refund: None
  • Overdraft fee: $22; overdraft protection covers transactions up to $500 (including fees) but does not reduce the fee.

TTCU Federal Credit Union’s most basic checking account, Free Checking, still provides a number of the same services that come with all of the credit union’s other checking accounts. The account is not entirely free of fees, but most customers should be able to avoid them. On top of having no monthly maintenance fee, this account doesn’t charge any ATM fees, even at non-network machines — though the ATM owner may still charge its own fee. After the initial opening deposit requirement is met, there is no ongoing minimum balance requirement.

Free Checking comes with the following additional free benefits:

  • Online, telephone and mobile banking
  • Bill pay
  • A Visa check card
  • e-statements
  • Carbonless copies of checks
  • Unlimited check writing

The account offers overdraft protection via the credit union’s Courtesy Pay program, but it does not reduce the overdraft fee.

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Classic Checking

Classic Checking is the next tier up, and the first checking account here that pays interest.
APYMinimum Balance to Earn APY
0.20%
$0.01
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: $0
  • ATM fee: $0
  • ATM fee refund: None
  • Overdraft fee: $22; overdraft protection covers transactions up to $500 (including fees) but does not reduce the fee

For the most part, Classic Checking is simply an interest-bearing version of TTCU Federal Credit Union’s Free Checking account. Both accounts have the same minimum opening deposit and no monthly fee, along with no ATM charges. However, customers must maintain at least $250 in this account to avoid a per-check surcharge.

Beyond those small differences, Free Checking and Classic Checking are the same. Both offer free online, mobile and telephone account access, free bill pay, e-statements and check copies, and both come with a Visa check card and unlimited check writing.

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Rewards Checking

Rewards Checking is the top-tier checking account in the TTCU Federal Credit Union lineup.
APYMinimum Balance to Earn APY
0.20%
$0.01
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: $6
  • ATM fee: $0
  • ATM fee refund: None
  • Overdraft fee: $22; overdraft protection covers transactions up to $500 (including fees) but does not reduce the fee

Rewards Checking offers the highest level of features and benefits of any TTCU Federal Credit Union Checking account, but there is a modest monthly fee that cannot be avoided. Like the credit union’s other checking accounts, this account comes with a host of free features and benefits, ranging from online, telephone and mobile banking to e-statements, bill pay, copies of checks and unlimited check writing. The account also has the same ATM and overdraft fee structure, meaning there are no ATM fees charged by the credit union but that the overdraft fee cannot be avoided, even with overdraft protection services. As with the credit union’s Classic Checking account, Rewards Checking pays interest on all balances, although the non-tiered structure means all balances earn the same rate.

Rewards Checking offers numerous additional benefits, including travel savings, an interactive benefits feature, and a subscription to Sojourns Magazine. Rewards Checking customers also enjoy enrollment in the following programs (terms may apply):

  • Everyday Rebate Rewards, offering 10% cash back (up to $40) per year on everyday purchases
  • Savers Club, which provides discounts of up to 50% on lodging, car rentals, and theme parks with participating vendors.
  • Bonus Travel, which provides members-only savings when using a Vacation Savings Hotline.
  • ID Network Safety Service, which provides your child with a registered ID.
  • Local Connections, providing discounts and coupons for local merchants.

Rewards Checking customers also receive a free, $10,000 24-hour accidental death insurance policy.

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Fresh Start Checking

Fresh Start Checking is for customers who have a rocky financial history and may need help opening a traditional checking account.
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: $10
  • ATM fee: $0
  • ATM fee refund: None
  • Overdraft fee: $22; overdraft protection covers transactions up to $200 (including fees) but does not reduce the fee

TTCU Federal Credit Union makes it easy for anyone with prior financial missteps to open a basic checking account. Although this account does charge a steep and unavoidable monthly fee, in most other aspects it’s similar to the credit union’s Free Checking account. With both accounts, customers have fee-free access to online, mobile and telephone banking, e-statements, bill pay, check copies, a Visa Check Card and unlimited check writing. This account also allows for overdrafts, although the overdraft protection service only covers overdrafts up to $200 with this account instead of $500.

Although there is no ongoing minimum balance requirement, this account also does not pay any interest. If you maintain this account in good standing for at least one year, you can request to convert it to one of the credit union’s other checking accounts.

How to get TTCU Federal Credit Union’s checking accounts

You can open all TTCU Federal Credit Union checking accounts online. The process requires various personal and financial information, including your Social Security number, citizenship or residency status, valid ID and funding source. If you’re not a member, you’ll have to open join the credit union first by opening a Savings account. The credit union will also run a credit check.

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How TTCU Federal Credit Union’s checking accounts compare

TTCU Federal Credit Union offers a solid range of checking accounts to choose from. Whether you’re looking for a basic account or a rewards account with extensive features and benefits, you can find them all here.

However, some of the accounts have monthly fees that cannot be avoided, and only two pay interest. The rates paid are right near the national average for checking accounts, but the yields aren’t high enough to rank the accounts among the best available checking accounts nationwide.

TTCU Federal Credit Union’s savings account options

Savings

This account is the only traditional savings account offered at TTCU Federal Credit Union.
APYMinimum Balance to Earn APY
0.30%
$0.01
0.40%
$10,000.01
0.55%
$20,000.01
0.70%
$40,000.01
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: $0; $5 if the account balance drops below $100 and no other credit union accounts are opened
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

This Savings account is required for membership at TTFCU Federal Credit Union and represents your ownership share. Although there is no ongoing minimum balance requirement, customers must either have additional credit union accounts open or a balance of at least $100 to avoid a modest monthly fee. This account pays interest on all balances across four different tiers, with deposits of more than $40,000 earning the highest interest.

Savings can be accessed via online banking, phone, mail or through electronic withdrawals. Deposits can be made via payroll deduction, electronic deposit or branch night depositories. ATM access is not allowed, however, unless the account is tied to a checking account or an ATM Access account, as outlined below.

Certain withdrawals, including those via pre-authorized or automatic transfer, bill pay, online banking or telephonic means are limited to six per month. Excess transactions may be charged a fee or may cause the closure of the account.

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ATM Access Account

This account gets you ATM access if your other accounts don’t have it.
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: $10
  • ATM fee: $0
  • ATM fee refund: None
  • Overdraft fee: N/A

The ATM Access account is a special account that can be added to other credit union accounts to provide ATM access. For example, while the traditional Savings account at TTCU Federal Credit Union does not have ATM access, adding a complementary ATM Access account grants that access. Similarly, the Money Market account doesn’t have ATM access, but you can open this account and transfer money market funds to it free of charge to then access the money via an ATM.

This service costs $10 per month, and the account cannot be opened online.

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Youth Savings

Youth Savings accounts at TTCU Federal Credit Union are for kids ages 12 and younger.
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: $0
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

The Youth Savings account is similar to a standard savings account at TTCU Federal Credit Union but with a few twists designed for its younger clientele. Once the opening deposit requirement is met, account holders receive the following free benefits:

  • A Kids’ Savings Club t-shirt
  • A Kids’ Savings book
  • A $10 Incredible Pizza game card

After the initial deposit, subsequent deposits are rewarded with Kids’ Bucks in lieu of cash dividends. Additional deposits between $1 and $10 earn $1 in Kids’ Bucks, deposits between $11 and $20 earn $2 in Kids’ Bucks and deposits over $20 earn $5 in Kids’ Bucks. Kids’ Bucks can be redeemed for prizes from the safe at a TTCU Federal Credit Union branch.

This account has no ATM access and doesn’t allow overdrafts. However, like other TTCU Federal Credit Union accounts, it can be linked to an ATM Access account to allow machine-based access to your money. You must visit a branch to open this account.

How to get TTCU Federal Credit Union’s savings accounts

You can open TTCU Federal Credit Union’s basic Savings account online. However, for the ATM Access and the Youth Savings accounts, you’ll need to visit a branch. Opening a Savings account online takes about 10 minutes and requires a Social Security number, citizenship or residency status, a funding source and a valid ID. You should also expect the credit union to run a credit check.

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How TTCU Federal Credit Union’s savings accounts compare

TTCU Federal Credit Union’s savings accounts are an interesting collection. There is only one standard savings account, but it pays decent interest rates, with even the lowest tier exceeding the national average and the top tier paying nearly triple the average. However, the rates still can’t compete with the best savings accounts in the nation.

One important note regarding the credit union’s savings accounts is that there is no ATM access with either the basic Savings account or the youth savings account. Customers seeking ATM access will need to open an ATM Access account, which charges a fee.

TTCU Federal Credit Union’s CD account options

Share Certificates (CDs)

Share Certificates are on the shorter side but pay decent rates.
APYMinimum Balance to Earn APYTerm
1.35%
$1,0003 months
1.50%
$1,0006 months
2.20%
$1,0009 months (promo)
2.20%
$1,00012 months
2.10%
$1,00018 months
2.40%
$1,00019 months (promo)
2.20%
$1,00024 months
2.40%
$1,00036 months
2.50%
$1,00048 months
  • Minimum balance to open account: $1,000
  • Minimum balance to earn APY: $1,000
  • Early withdrawal penalty: 30 days’ interest for up to a 6 month term, 90 days’ interest for 7-12 month terms, 180 days’ interest for 13-24 month terms and 360 days’ interest for terms of 25 months or greater; the same penalty is charged regardless of how many days into the term you make your early withdrawal

CDs at TTCU Federal Credit Union, also known as Share Certificates, cover a standard range of maturities, from 3 months to 48 months. Terms are a bit short, as many banks and credit unions offer 5 year maturities. Beyond that, TTCU Federal Credit Union’s CDs are fairly standard, with a $1,000 minimum and a 10-day grace period after maturity before auto-renewal. Rates are tiered and generally rise with longer maturities, but the progression is not linear. Currently, two maturities, the 9 month and the 19 month CD, are listed as promotional, meaning they could change or disappear at any time. Early withdrawal penalties apply.

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Share Certificates (Jumbo)

These jumbo CDs pay higher rates for deposits of at least $50,000.
APYMinimum Balance to Earn APYTerm
1.45%
$50,0003 months
1.60%
$50,0006 months
2.30%
$50,0009 months (promo)
2.30%
$50,00012 months
2.20%
$50,00018 months
2.50%
$50,00019 months (promo)
2.30%
$50,00024 months
2.50%
$50,00036 months
2.60%
$50,00048 months
  • Minimum balance to open account: $50,000
  • Minimum balance to earn APY: $50,000
  • Early withdrawal penalty: 30 days’ interest for up to a 6 month term, 90 days’ interest for 7-12 month terms, 180 days’ interest for 13-24 month terms and 360 days’ interest for terms of 25 months or greater; the same penalty is charged regardless of how many days into the term you make your early withdrawal

Jumbo CDs at TTCU Federal Credit Union, also known as Share Certificates, cover the same standard range of maturities as the credit unions regular CDs, from 3 months to 48 months. The only difference between the two is that higher yields can be earned on the jumbo CDs, which require a $50,000 minimum.

Rates jump by about 10 basis points per maturity at the moment, although that is always subject to change. As with the credit union’s regular Share Certificates, there are currently two promotional jumbo maturities, the 9 and 19 month maturities. The standard 10-day grace period after maturity before auto-renewal applies, as do the early withdrawal penalties.

How to get TTCU Federal Credit Union’s CD accounts

You can open both types of TTCU Federal Credit Union CDs online. If you’re not a member, you’ll have to open a membership Savings account first. You’ll have to provide your Social Security number, a valid ID and a funding source, in addition to demonstrating citizenship or residency. A credit check is performed at the time you open an account.

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How TTCU Federal Credit Union’s CD accounts compare

TTCU Federal Credit Union offers a high-paying range of CDs. Every single maturity greatly exceeds the national average rate, in some cases doubling or even tripling the average rate. Jumbo CDs pay even higher rates. The best rates at TTCU Federal Credit Union are within range of the best CD accounts available nationwide, but don’t quite top them.

TTCU Federal Credit Union’s money market account option

Money Market Account

This traditional Money Market account pays higher yields than TTCU Federal Credit Union’s savings accounts.
APYMinimum Balance to Earn APY
0.50%
$0.01
0.60%
$5,000.01
0.70%
$20,000.01
0.80%
$30,000.01
1.00%
$50,000.01
  • Minimum opening deposit: $2,500
  • Monthly account maintenance fee: $0
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: $22

This traditional money market account offers check-writing capabilities but no ATM access. Customers looking to access their money market funds via an ATM can sign up for the ATM Access account, which charges a fee.

The minimum deposit for the Money Market account is $2,500, and subsequent deposits must be at least $100. Similarly, the minimum withdrawal size is also $100. Dividends are paid monthly, using a five-tier APY system. Although even the smallest balances earn interest, the best rates are paid on deposits of over $50,000.

The Money Market account charges a $12 per transaction fee after three withdrawals per month. Certain withdrawals and transfers are limited up to 6 per month, following Regulation D. TTCU Federal Credit Union prohibits additional monthly withdrawals.

How to get TTCU Federal Credit Union’s money market account

You can get a TTCU Federal Credit Union Money Market account online. Opening an account at the credit union requires certain financial and personal information. To proceed, you’ll need your Social Security number, U.S. citizenship or permanent resident status, a valid ID, such as a passport or driver’s license, and a funding source. When you apply, the credit union will run a credit check.

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How TTCU Federal Credit Union’s money market account compares

TTCU Federal Credit Union’s Money Market account is simple and straightforward but does a good job providing what most people want out of a money market: a high yield. Although the account isn’t strong enough to take down the best money market accounts in the nation, it does an admirable job of topping the national average money market rate. Even the lowest tier offers a rate significantly above the national average, while the top rate pays nearly triple the average.

TTCU Federal Credit Union’s IRA options

IRA Savings

The IRA Savings account is a fee-free option for customers with free cash in their IRA.
APYMinimum Balance to Earn APY
0.50%
$0.01
0.60%
$20,000.01
0.75%
$40,000.01
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: $0
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

The IRA Savings account at TTCU Federal Credit Union is a place customers can keep their cash if they don’t want to commit to other investments, such as a CD. Unlike with many institutions, however, this IRA Savings account isn’t simply a parking place for cash. With no monthly fees and high yields, this account is a viable alternative for conservative investors. Interest is paid in three tiers. Although deposits of more than $40,000 earn the highest APY, even the smallest balance earns a respectable rate of interest. As the account is in an IRA, there is no ATM access and no provision for overdrafts. You must visit a branch to open this account.

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IRA Certificates

IRA Certificates are a bit different than the credit union’s regular CDs.
APYMinimum Balance to Earn APYTerm
2.30%
$1,0009 months (promo)
2.30%
$1,00012 months
2.50%
$1,00019 months (promo)
2.50%
$1,00024 months
2.50%
$1,00036 months
2.60%
$1,00048 months
2.80%
$1,00060 months
  • Minimum balance to open account: $1,000
  • Minimum balance to earn APY: $1,000
  • Early withdrawal penalty: 30 days’ interest for up to a 6 month term, 90 days’ interest for 7-12 month terms, 180 days’ interest for 13-24 month terms and 360 days’ interest for terms of 25 months or greater; the same penalty is charged regardless of how many days into the term you make your early withdrawal

IRA CDs at TTCU Federal Credit Union are slightly different from the credit union’s regular CDs, also known as Share Certificates. IRA CD maturities range from 9 months to 60 months, and the rates paid are a bit higher.

Otherwise, the two types of CDs share the same $1,000 minimum and 10-day grace period following maturity before auto-renewal. The same early withdrawal penalties apply to both types of CDs as well. TTCU Federal Credit Union also currently offers promo rates on its 9 month and 19 month IRA CDs. The same rates apply to both traditional and Roth IRAs. You’ll need to visit a branch to open this account.

How to get TTCU Federal Credit Union’s IRA products

As mentioned above, you’ll have to visit a branch to open a TTCU Federal Credit Union IRA, as IRAs cannot be opened online. You’ll need to bring certain information and documentation to open an IRA account, including your Social Security number and a valid ID, like a passport, military ID, state ID or driver’s license. You’ll also need to prove U.S. citizenship or resident alien status. If you wish to make a deposit, you’ll need to provide information about your funding source, such as a checking account routing number.

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How TTCU Federal Credit Union’s IRA products compare

IRA CD rates at TTCU Federal Credit Union are high. For every maturity, rates exceed the national average rates, in some cases doubling or nearly tripling the average. In fact, rates are right on par with the best IRA CD rates in the country. The IRA Savings account is another good product for money that would otherwise earn nothing in the IRA.

Overall review of TTCU Federal Credit Union’s products

TTCU Federal Credit Union is Oklahoma-focused, but some of its accounts are on par with the best national banks. However, as with most financial institutions, potential customers will be best served by picking and choosing among the credit union’s best offerings.

On the whole, TTCU Federal Credit Union shines when it comes to the interest it pays. With the exception of the credit union’s two interest-bearing checking accounts, which pay an average rate, all of the accounts at TTCU Federal Credit Union pay commendable rates. While the credit union only offers one traditional savings account, the rate paid is well above average, although not a top rate nationally.

Comparisons improve with the credit union’s money market, CD and IRA accounts. The money market account pays a much better-than-average rate, and the entire CD line pays impressive rates. In both regular and IRA accounts, TTCU Federal Credit Union’s CDs pay rates as high as triple the national average. In the case of the credit union’s IRA accounts, some of the rates paid are among the very best available across the country. Customers that don’t want to tie up their IRA money in a CD benefit from a very generous IRA Savings account rate as well.

One cautionary note: Although ATM access is available with the credit union’s checking accounts, an additional ATM Access account must be opened to provide ATM access for savings and money market accounts. Considering that the ATM Access account carries a high monthly fee that cannot be avoided, it seems like a high price to pay just to get an ATM card.

Overall, members have a wide range of high-paying accounts from which to choose, and some, but not all, are available without a monthly fee.

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.

John Csiszar
John Csiszar |

John Csiszar is a writer at MagnifyMoney. You can email John here

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Reviews

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

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

Year Established1951
Total Assets$3.1B
LEARN MORE Travis Credit Union’s secure websiteNCUA Insured

Travis Credit Union traces its beginnings to 1951, when military and civilian employees at Travis Air Base in Fairfield, Calif., banded together to start a financial institution. Now, Travis Credit Union stands as one of the 70 largest credit unions in the United States.

As a credit union, there are membership restrictions to opening an account at Travis Credit Union. Membership is restricted to applicants who work, live, worship, or attend school in one of the following 12 Northern California counties:

  • Alameda
  • Colusa
  • Contra Costa
  • Merced
  • Napa
  • Placer
  • Sacramento
  • Solano
  • Sonoma
  • San Joaquin
  • Stanislaus
  • Yolo

Military and civilian personnel at Travis Air Force Base are also eligible, as are immediate family or household members of any current member.

Most, but not all, Travis Credit Union accounts can be opened online, within about 10 minutes. The process requires the following documentation:

  • Social Security number
  • Government-issued ID, such as a driver’s license or passport
  • Proof of physical address, if the one on your ID is not current or if your mailing address is a P.O. Box
  • Employment and personal identifying information
  • A funding source, such as a checking or savings account number or a credit card

For youth accounts, information must be provided both for the youth and for a parent or guardian at least 18 years old, who will be the joint owner. Any ATM cards will be issued in the name of the joint owner, or in the name of the youth if at least 14 years of age and a parent or guardian signs a consent form in a branch.

Travis Credit Union boasts a wide range of consumer accounts, from checking and savings options to IRAs, CDs, and money market accounts. To better understand which accounts might be appropriate for you, here’s a look at all of the features and benefits of the accounts that Travis Credit Union offers, along with various account requirements.

Travis Credit Union’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

0.10%

Savings

Travis Credit Union Prime Share Account

2.10%

American Express National Bank High Yield Savings Account

on American Express National Bank’s secure website

Member FDIC

1.25%

CD Rates

Travis Credit Union 12 Month Standard CD

2.75%

Goldman Sachs Bank USA High-yield 12 Month CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

1.85%

CD Rates

Travis Credit Union 36 Month Standard CD

2.90%

Synchrony Bank 36 Month CD

on Synchrony Bank’s secure website

Member FDIC

2.25%

CD Rates

Travis Credit Union 60 Month Standard CD

3.10%

Goldman Sachs Bank USA High-yield 5 Year CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

Travis Credit Union’s checking account options

Access Checking

Access Checking is youth-focused, with a “checkless checking” structure.
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $0
  • ATM fee: $0; $1.50 on non-CO-OP network ATMs
  • ATM fee refund: none
  • Overdraft fee: N/A

Access Checking is designed to appeal to tech-savvy youths who need a debit-card account only, rather than a traditional checking account. This no-fee account doesn’t pay any interest. Although dubbed “Access Checking,” this account actually doesn’t offer check writing. The account offers free mobile banking and electronic statements, and account holders can remotely deposit paper checks via the app. Debit card purchases that exceed the amount of money available will be rejected; the account cannot be linked to overdraft protection sources as with other Travis Credit Union checking accounts.

If an account holder orders third-party checks that are presented for payment against this account, the transaction will be rejected and a nonsufficient funds fee will be assessed. However, if an account is temporarily overdrawn due to an otherwise-approved transaction, no overdraft fee will be charged. This could occur if a merchant doesn’t initially post the full value of the transaction, such as at a hotel or gas station.

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Free Checking

What you see is what you get with this account, which comes free of charge and provides basic checking account services.
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $0
  • ATM fee: $1.50 on non-CO-OP network ATMs
  • ATM fee refund: none
  • Overdraft fee: $29 (6 transactions per day max); $5 with overdraft transfer

Travis Credit Union’s Free Checking account is an entry-level offering with no monthly fee and a low minimum opening deposit requirement. And while it does not pay interest, the account still comes with the package of free features and benefits offered on all Travis Credit Union checking accounts, including the following:

  • Online and mobile banking
  • Bill pay
  • A mobile app for iOS and Android that includes remote check deposit
  • eStatements
  • 24-hour phone banking
  • Identity theft assistance
  • Money Mover, which allows for free transfers into credit union accounts ($1 fee for transfers from the credit union to external accounts)

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Dividend Checking

Dividend Checking is the first checking account in the Travis Credit Union lineup that pays interest.
APYMinimum Balance to Earn APY
0.05%
$500
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $5; $0 with minimum checking balance of $500 or a combined checking, savings and money market account balance of $2,500 or more
  • ATM fee: $1.50 per transaction on non-CO-OP network ATMs
  • ATM fee refund: none
  • Overdraft fee: $29 (6/day max); $5 with overdraft transfer

Customers with at least $500 they can keep on deposit at Travis Credit Union might want to look at the Dividend Checking checking account. Feature-wise, the account is almost identical to the credit union’s Free Checking account. Dividend checking does come with a monthly fee, but the same $500 that is required to earn interest on the account is enough to avoid the monthly fee. Beyond that, both accounts have the same ATM and overdraft fee structure and offer the same benefits, such as mobile and online banking, 24-hour phone banking, identity theft protection, and money transfers via the Money Mover program.

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Silver Wings Checking

Silver Wings Checking is designed for Travis Credit Union checking customers aged 60 or older.
APYMinimum Balance to Earn APY
0.05%
$500
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $0
  • ATM fee: $1.50 on a non-CO-OP network ATM
  • ATM fee refund: none
  • Overdraft fee: $29 (6 per day max); $0 with overdraft transfer

Structurally, Silver Wings Checking is almost a carbon copy of Travis Credit Union’s Dividend Checking account. Both accounts require a small opening deposit but pay interest on balances of at least $500. However, there is no fee attached to the Silver Wings Checking account, regardless of account balance. Silver Wings is designed to appeal to senior customers of the credit union, offering special perks such as a free box of standard checks and no fee for overdraft protection transfers.

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Investor Checking

Investor Checking is Travis Credit Union’s flagship checking account.
APYMinimum Balance to Earn APY
0.15%
$1,000
0.20%
$5,000
0.25%
$10,000
0.25%
$25,000
0.30%
$50,000
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $7.50; with a minimum checking balance of $2,500 or a combined checking, savings and money market balance of $5,000 or more
  • ATM fee: $1.50 for non-CO-OP network ATMs, after 4 free transactions per month
  • ATM fee refund: none
  • Overdraft fee: $29 (6 per day max); $0 with overdraft transfer

Investor Checking pays the highest interest rate in the Travis Credit Union Checking account lineup, with balances of $50,000 or more earning the highest rates. Interest is paid in six tiers, although balances under $1,000 don’t earn anything. The moderate monthly fee can be avoided with a checking account balance of $2,500 or a combined $5,000 in balances across Travis Credit Union accounts.

Unlike other checking accounts at the credit union, Investor Checking allows four free non-network ATM withdrawals per month, although fees that may be charged by the terminal operator are not refunded. Account holders also enjoy no-free overdraft transfer protection transfers. One box of checks can be ordered for free at any time.

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Youth Checking

Youth Checking offers teenagers the ability to gain experience with basic checking account features.
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $0
  • ATM fee: $1.50 on a non-CO-OP network ATM
  • ATM fee refund: none
  • Overdraft fee: $29 (6 per day max); $5 with overdraft transfer

Youth Checking is a simple checking account designed to teach teenagers how to handle money. The account carries many of the same features as the Free Checking account, including a small opening deposit requirement, no monthly fee, and a free ATM card or Visa debit card. Account holders can also apply for a Young Adult Visa credit card with a $2,000 limit to help build credit.

How to get Travis Credit Union’s checking accounts

Most of Travis Credit Union’s checking accounts can be opened online. The exception is the Youth Checking account, which requires a visit to a branch location.

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How Travis Credit Union’s checking accounts compare

Travis Credit Union offers a number of different types of checking accounts, from free offerings to dividend-paying options to senior and youth accounts. For the most part, accounts are free or have monthly fees that can be easily avoided, and most offer free or low-cost overdraft protection transfers. Rates paid on the Dividend Checking and Silver Wings Checking are well below the national average. Only the top-tier Investor Checking account pays above-average rates, although even on deposits of $50,000 or more the rates can’t come close to the top checking account rates in the country.

Travis Credit Union’s savings account options

Share Savings Account

The required membership account at Travis Credit Union has a very high special APR on your first $500 if you qualify.
APYMinimum Balance to Earn APY
0.10%
$100
0.10%
$5,000.01
0.15%
$10,000.01
4.00%
$0.01, with Ultimate Rewards Package
  • Minimum opening deposit: $10 (includes $5 membership fee)
  • Monthly account maintenance fee: $0
  • ATM fee: $0; $1.50 on a non-CO-OP network ATM
  • ATM fee refund: none
  • Overdraft fee: $29

All customers at Travis Credit Union must open a Share Savings account, which is mostly a basic, straightforward savings account. A $5 opening deposit, on top of a $5 membership fee, is all that’s needed to open this no-fee account. Dividends are paid in a four-tier structure: balances over $10,000 earn the top normal rate, but balances below $100 earn nothing. The account has ATM access, with free in-network withdrawals but no refunds of other banks’ terminal charges. In accordance with federal regulation D, certain transfers and withdrawals through phone or online banking are limited to six per month. A $9 quarterly low-balance fee is assessed on balances of less than $100; this can be waived with a loan balance or an active checking account.

The Ultimate Rewards Package is a special feature offered by Travis Credit Union. It provides a greatly enhanced yield on the first $500 in a Share Savings account for customers that have a checking account with eStatements and add either direct deposit or bill pay.

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Target Share Account

The Target Share account is an additional savings account members can open after gaining membership via the Share Savings account.
APYMinimum Balance to Earn APY
0.10%
$100
0.10%
$5,000.01
0.15%
$10,000.01
  • Minimum opening deposit: $5
  • Monthly account maintenance fee: $0
  • ATM fee: $0; $1.50 on a non-CO-OP network ATM
  • ATM fee refund: none
  • Overdraft fee: $29

The Target Share account at Travis Credit Union is a secondary savings account designed to mirror the Share Savings account. Customers can open as many Target Share accounts as they would like to save for specific goals like the holidays, a vacation or special events (e.g. a wedding). Like the Share Savings account, the Target Share account has no monthly maintenance fee and requires a $5 opening deposit, although the additional $5 membership fee is not required on this account. ATM fees are the same, with nothing charged for in-network withdrawals, and the quarterly low balance fee also applies. Certain withdrawals and transfers share the same six-per-month limit as per Regulation D.

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T-Bird Club Savings Account

A savings account for youngsters up to 12 years old.
  • Minimum opening deposit: $0
  • Monthly account maintenance fee: $0
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

The first in a series of three youth savings accounts at Travis Credit Union, the T-Bird Club Savings account is for the youngest savers, up to 12 years old. There are no minimum deposit requirements and no monthly maintenance fees, and the quarterly low-balance fee is also waived. To help youngsters learn more about the financial world, this account, along with all youth accounts at Travis Credit Union, provides access to an interactive web site with various financial education topics. Every child signing up for the T-Bird Club account also receives a free piggy bank.

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Rising Stars Club

The Rising Stars Club is the next rung up the youth savings account ladder at Travis Credit Union, offering accounts for teenagers from 13 to 17 years old.
  • Minimum opening deposit: $0
  • Monthly account maintenance fee: $0
  • ATM fee: $1.50 on a non-CO-OP network ATM
  • ATM fee refund: none
  • Overdraft fee: $29

The Rising Stars Club is a youth savings account that gives older children more control over their financial lives. Account holders aged 14 to 17 are given access to an ATM card, as long as a parent co-signs for the account. Teens aged 16 or 17 can also sign up for a Visa debit card if they have a parent or guardian as a co-signer. Beyond these additional features, the account is like the T-Bird Club account, with no monthly fees or minimum balance requirements and access to the credit union’s educational web site.

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Young Adult Account

The Young Adult account is a savings account for account holders aged 18 to 21.
  • Minimum opening deposit: $0
  • Monthly account maintenance fee: $0
  • ATM fee: $1.50 on a non-CO-OP network ATM
  • ATM fee refund: none
  • Overdraft fee: $29

The Young Adult account at Travis Credit Union is the top-tier youth account and it functions like a full-fledged savings account. In addition to having no monthly fees or account minimums, the Young Adult account comes with a Free Checking account, free bill pay, a free ATM or Visa debit card, and mobile banking. This account is also the only youth account that pays dividends, although they are not listed on the website; you’ll have to contact the credit union directly to get current rates. Account holders are also eligible to apply for a Visa credit card with an up to $2,000 limit.

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Health Savings Account

This traditional Health Savings account also offers check writing capabilities.
APYMinimum Balance to Earn APY
0.25%
$100
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $2
  • ATM fee: $0; $1.50 on a non-CO-OP network ATM
  • ATM fee refund: none
  • Overdraft fee: $29

As with all Health Savings accounts, the HSA at Travis Credit Union requires enrollment in a high-deductible health plan to qualify. Contributions to the account may be tax-deductible, and distributions are generally tax-free when used for qualifying medical expenses. Travis Credit Union’s HSA is a bit unusual in that it offers check writing, which not all HSAs do. Interest is earned in two tiers, although currently only deposits of $100 or more earn any dividends.

How to get Travis Credit Union’s savings accounts

All traditional Travis Credit Union savings accounts, including youth accounts, can be opened online. You’ll need a Social Security number, government-issued ID, proof of physical address, employment and personal information, and a funding source. For the Health Savings account, customers must visit a branch or call (800) 877-8328.

For youth accounts, with the exception of the Young Adult account, a parent or guardian at least 18 years old must be the joint owner.

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How Travis Credit Union’s savings accounts compare

The traditional rates paid on the Share Savings, Target Savings, and Health Savings accounts at Travis Credit Union are low, well below even the national average rates. However, the Ultimate Rewards Package boosts the yield on the Share Savings account to a rate well above the best available national savings account rates — still, that rate is only available on the first $500 deposited in the Share Savings account.

Travis Credit Union’s CD account options

Standard Certificates (CDs)

Standard Certificates have a modest opening balance and pay higher rates with longer maturities.
APYMinimum Balance to Earn APYTerm
0.75%
$5006 months
1.25%
$50012 months
1.60%
$50024 months
1.85%
$500 36 months
1.90%
$50048 months
2.25%
$50060 months
  • Minimum balance to open account: $500
  • Minimum balance to earn APY: $500
  • Early withdrawal penalty: For terms of 182 days to 12 months, 90 days’ dividends; for terms of 12 months or more, 180 days’ dividends, whether earned or not.

CDs at Travis Credit Union have a modest opening balance requirement and a fairly limited range of maturities. Although terms range from 6 months to 60 months, there are only a total of six maturities. Rates are fixed until maturity, and dividends are compounded monthly. Travis Credit Union CDs have a 6 day grace period after maturity during which funds can be withdrawn free-of-charge. Standard early withdrawal penalties otherwise apply.

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Laddering Certificate (CDs)

Laddering Certificates are purchased in a group to form a ladder of differing maturities in a single package.
APYMinimum Balance to Earn APYTerm
1.35%
$10,00012 months
1.70%
$10,00024 months
1.95%
$10,000 36 months
2.00%
$10,00048 months
2.36%
$10,00060 months
  • Minimum balance to open account: $50,000 (5 certificates of $10,000 each)
  • Minimum balance to earn APY: $10,000 per year for five years
  • Early withdrawal penalty: For terms of 12 months or more, 180 days’ dividends, whether earned or not

In order to receive the bonus interest rates offered by Travis Credit Union’s Laddering Certificates, customers must purchase $50,000 in CDs laddered over five years, with $10,000 going towards a 1-year certificate, $10,000 going towards a 2-year certificate, and so on for up to five years. Every year a CD matures, it auto-renews into a new 5-year certificate, unless you notify the credit union first. The standard 6-day grace period applies, as does the early withdrawal penalty.

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Bump-Up Certificate (CDs)

The Bump-Up Certificate at Travis Credit Union offers a promotional rate for new money in a single, 24-month maturity.
APYMinimum Balance to Earn APYTerm
2.50%
$1,00024 months
  • Minimum balance to open account: $1,000
  • Minimum balance to earn APY: $1,000
  • Early withdrawal penalty: For terms of 182 days to 12 months, 90 days’ dividends; for terms of 12 months or more, 180 days’ dividends, whether earned or not

The Bump-Up Certificate at Travis Credit Union is a current special offer that can be pulled at any time. Account holders are allowed to “bump up” the rate on their CD to the then-current rate one time during the term. The minimum balance to open is twice that of a regular CD at Travis Credit Union, but the same early withdrawal penalty holds. Upon maturity, Bump-Up CDs automatically renew into standard certificates, with no promotional rate available. However, customers can withdraw funds without penalty during a 6-day grace period after maturity.

How to get Travis Credit Union’s CD accounts

You can open a Travis Credit Union CD account online. You can also visit a branch or call (707) 449-4000. As mentioned above, opening an account online takes about 10 minutes. If you’re not yet a credit union member, you must join by opening a Share Savings account. To complete the process, you’ll need your Social Security number, a valid ID like a passport or driver’s license, various personal and employment information, your address, and your source of funding.

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How Travis Credit Union’s CD accounts compare

Travis Credit Union offers a decent lineup of CDs, with rates for all maturities slightly above the national average. (Rates on Laddering Certificates are a bit higher.) The standout in the credit union’s lineup is the current promotional rate on its Bump-Up CD. Although that rate can’t quite top the best national CD rates available, it’s far above average and a nice boost over the credit union’s standard CD line. With the option to bump that rate up one time over its 2-year term, it’s an attractive product.

Travis Credit Union’s money market account options

Flexible Money Market Account

The Flexible Money Market account is the first rung in a ladder of five distinct money market accounts at Travis Credit Union.
APYMinimum Balance to Earn APY
0.40%
$0.01
0.55%
$7,500
0.60%
$25,000
0.70%
$50,000
0.75%
$75,000
  • Minimum opening deposit: $1,000
  • Monthly account maintenance fee: $0
  • ATM fee: $0; $1.50 on a non-CO-OP network ATM
  • ATM fee refund: none
  • Overdraft fee: $29

The Flexible Money Market account occupies the entry-level spot in Travis Credit Union’s money market account portfolio. Travis Credit Union’s money market accounts have no monthly maintenance fee and pays interest, but the minimum opening deposit and the APY schedule varies from account to account.

For the Flexible Money Market account, interest is earned in five tiers, the most of any of the credit union’s money market accounts, with payouts beginning on the first dollar.

All of Travis Credit Union’s money market accounts have ATM access and the same ATM fee structure, but none of them have overdraft protection. Travis Credit Union charges a $15 excessive transaction fee for certain money market transactions in excess of six per month, including checks, pre-authorized or automatic transfers, online banking transfers, and telephonic transfers.

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Sterling Money Market Account

The Sterling Money Market is like the Flexible Money Market account, but with a higher minimum opening balance.
APYMinimum Balance to Earn APY
0.05%
$0.01
0.65%
$25,000
  • Minimum opening deposit: $25,000
  • Monthly account maintenance fee: $0
  • ATM fee: $0; $1.50 on a non-CO-OP network ATM
  • ATM fee refund: none
  • Overdraft fee: $29

The Sterling Money Market account functions just like the Flexible Money Market account, with two major distinctions. First, the minimum opening deposit for this account jumps up to $25,000. Second, interest is paid in two tiers. To get anything more than a minimal rate, customers must maintain a balance at least as large as the minimum opening deposit.

As with the Flexible Money Market account, the Sterling Money Market account has ATM access and the same ATM fee structure, but with no overdraft protection. Account holders are assessed a $15 excessive transaction fee for certain transactions in excess of six per month, including checks, online banking transfers, pre-authorized or automatic transfers, and telephonic transfers.

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Premiere Money Market Account

The Premiere Money Market account pays even higher rates, but with a large minimum opening deposit requirement.
APYMinimum Balance to Earn APY
0.05%
$0.01
0.80%
$50,000
  • Minimum opening deposit: $50,000
  • Monthly account maintenance fee: $0
  • ATM fee: $0; $1.50 on a non-CO-OP network ATM
  • ATM fee refund: none
  • Overdraft fee: $29

The Sterling Money Market account is a mirror image of the first two money market accounts in the Travis Credit Union stable, with two notable exceptions. The minimum opening deposit requirement on this account jumps up to $50,000, and the interest rate paid at that level and above is commensurately higher.

Beyond these differences, the Sterling Money Market is essentially the same account as the others. ATM access comes with the account, and there are still only ATM fees for non-CO-OP machines. There is also no overdraft protection with this account. Certain electronic, telephonic, or pre-authorized transactions in excess of six per month are assessed a $15 fee.

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Premiere Plus Money Market Account

The Premiere Plus Money Market account is the penultimate account in the Travis Credit Union money market account pyramid.
APYMinimum Balance to Earn APY
0.05%
$0.01
0.85%
$75,000
  • Minimum opening deposit: $75,000
  • Monthly account maintenance fee: $0
  • ATM fee: $1.50 on a non-CO-OP network ATM
  • ATM fee refund: none
  • Overdraft fee: $29

The Premiere Plus Money Market account pays its best interest rate on deposits of at least $75,000, which is also the minimum amount required to open the account; smaller deposits earn hardly any interest at all. This account doesn’t have a monthly fee and has all the other benefits and restrictions that the credit union’s other money market accounts share, including no monthly fees, free in-network ATM transactions, and no overdraft protection. The excess activity fee of $15 applies to certain transactions in excess of six per month.

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Jumbo Money Market Account

The Jumbo Money Market account occupies the top tier of the five-money-market universe at Travis Credit Union.
APYMinimum Balance to Earn APY
0.05%
$0
0.90%
$100,000
  • Minimum opening deposit: $100,000
  • Monthly account maintenance fee: $0
  • ATM fee: $1.50 on a non-CO-OP network ATM
  • ATM fee refund: None
  • Overdraft fee: $29

The Jumbo Money Market account is the big dog when it comes to money markets at Travis Credit Union, requiring a whopping $100,000 minimum opening deposit. Customers must maintain this balance in the account to earn anything but a token APY. However, those that can manage it will benefit from the credit union’s highest money market interest-rate payout. There are no monthly fees with this account, but the overdraft fee can’t be reduced via overdraft protection. ATM access is provided, with no fees charged on in-network transactions. As with the credit union’s other money market accounts, certain transactions in excess of six per month are met with a $15 excessive transaction fee.

How to get Travis Credit Union’s money market accounts

All of Travis Credit Union’s money market accounts can be opened online. As mentioned above, you can open an account with a government-issued ID, proof of physical residence, employment and personal information, a Social Security number, and a funding source.

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How Travis Credit Union’s money market accounts compare

Travis Credit Union has an unusually large variety, with five different money market accounts. However, these accounts are all essentially variations on the same account, with the only differences being in the minimum required deposit amounts and the corresponding APYs. The Flexible Money Market, the only account with more than two interest-bearing tiers, pays an above-average rate even at its lowest tier, with the highest tier more than doubling the average. For the remaining four money market accounts, the base tier pays hardly anything, but the top tiers pay very good rates, in most cases paying double or more the national average. But even the top APYs can’t keep up with the best available national money market rates.

Travis Credit Union’s IRA options

IRA Savings

The IRA Savings account is a place to stash money not invested in other IRA products at Travis Credit Union.
APYMinimum Balance to Earn APY
0.05%
$200
  • Minimum opening deposit: $200
  • Monthly account maintenance fee: $0
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

The IRA Savings account is a way for customers to earn a little bit of interest on otherwise uninvested IRA money. The rate paid is low, but it applies to all deposits above the minimum $200 opening deposit requirement. There is no ATM access with this account and no monthly maintenance fee. As the account is in an IRA, overdrafts are not allowed.

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IRA Certificates

The IRA CD lineup at Travis Credit Union differs only slightly from its non-IRA CDs.
APYMinimum Balance to Earn APYTerm
1.25%
$50012 months
1.60%
$50024 months
1.85%
$500 36 months
1.90%
$50048 months
2.25%
$50060 months
  • Minimum balance to open account: $500
  • Minimum balance to earn APY: $500
  • Early withdrawal penalty: For terms of 182 days to 12 months, 90 days’ dividends; for terms of 12 months or more, 180 days’ dividends, whether earned or not

IRA CDs at Travis Credit Union have the same $500 minimum as the credit union’s non-IRA CDs. However, the 6-month CD is left off the maturity in the credit union’s IRAs. Customers must choose from just five different terms, ranging from 1 year to 5 years. Rates paid on those CDs are identical to the credit union’s taxable CDs.

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Bump-Up IRA Certificate (CDs)

The IRA CD lineup at Travis Credit Union differs only slightly from its non-IRA CDs.
APYMinimum Balance to Earn APYTerm
2.50%
$1,00024 months
  • Minimum balance to open account: $1,000
  • Minimum balance to earn APY: $1,000
  • Early withdrawal penalty: For terms of 12 months or more, 180 days’ dividends, whether earned or not

The same Bump-Up Certificate that is available in taxable accounts at Travis Credit Union is also available in the credit union’s IRAs. This rate is a current special offer, but can be changed or removed at any time. Bump-Up CD holders can up the rate on their CD to the then-current rate once before maturity. As with the taxable Bump-Up CD, the IRA version has a minimum balance twice that of a regular CD. Bump-Up CDs automatically renew into standard certificates, upon maturity with no promotional rate available. However, customers can withdraw funds without penalty during a 6-day grace period after maturity. Otherwise, an early withdrawal penalty applies.

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Laddering IRA Certificate (CDs)

The IRA CD lineup at Travis Credit Union differs only slightly from its non-IRA CDs.
APYMinimum Balance to Earn APYTerm
1.35%
$10,00012 months
1.70%
$10,00024 months
1.95%
$10,000 36 months
2.00%
$10,00048 months
2.36%
$10,00060 months
  • Minimum balance to open account: $50,000 (5 certificates of $10,000 each)
  • Minimum balance to earn APY: $10,000 per year for five years
  • Early withdrawal penalty: For terms of 12 months or more, 180 days’ dividends, whether earned or not

Laddering Certificates are available in both taxable and IRA form at Travis Credit Union. Customers purchasing $50,000 of the certificates earn bonus interest rates. The $50,000 invested must be distributed across five maturities, with $10,000 in a 1-year certificate, $10,000 in a 2-year certificate, and so on for the full five years. Every time a CD matures, it auto-renews into a new 5-year certificate, unless the credit union is notified in advance. A 6-day grace period applies before auto-renewal, as does the early withdrawal penalty.

How to get Travis Credit Union’s IRA products

You can call the Member Service Center at (800) 877-8328 for additional information, but the account opening process for an IRA must take place in a branch. As with all Travis Credit Union accounts, you’ll need to become a member before you can open an IRA. To open an account, you’ll need to provide basic personal and financial information, along with your Social Security number, a valid ID like a state ID, passport or driver’s license, and a funding source.

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How Travis Credit Union’s IRA products compare

Travis Credit Union’s IRA CD lineup is pretty close to its non-IRA lineup, which means its rates are above average across the board. The standout Bump-Up CD that’s offered in the credit union’s taxable accounts also appears in its IRAs, and it stands as the best IRA CD rate available. But while that rate is above average, it’s not quite as good as the best available IRA CD rates nationally.

Overall review of Travis Credit Union’s products

Travis Credit Union has a wealth of products. For nearly every personal financial category, there are numerous account options where customers can find a good fit. Checking accounts cover everything from senior and youth accounts to free and dividend-paying options, all with low or nonexistent fees. Interest rates paid, however, are low. Rates for savings accounts aren’t much better, with the exception of Share Savings accounts with the add-on Ultimate Rewards Package. This boosts the savings account yield to among the best in the country, but it’s limited to deposits of $500 or less.

Things perk up a bit in the CD department, as all Travis Credit Union certificates pay a bit above the national average, even those in the credit union’s IRAs. People seeking the highest yields will enjoy the current promotional rate on the Bump-Up CD, which not only carries a high rate but allows customers to bump the rate up once during the 24-month term.

People looking for a money market account are spoiled for choice at Travis Credit Union, which has five options. However, the breadth of choice is a bit of a mirage, as all five accounts are essentially the same offering, with different minimum and yield. Customers that can meet the high minimums on the accounts benefit from yields well above average.

The bottom line is that Travis Credit Union has plenty of account options, enough to meet nearly every need. Most of the accounts are low-cost, and many have no monthly fees at all. However, overdraft charges can be high, and yields on many accounts are not that compelling. As a regional credit union, local customers may enjoy the institution’s community focus, but national customers might find better options elsewhere.

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John Csiszar
John Csiszar |

John Csiszar is a writer at MagnifyMoney. You can email John here

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