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

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Updated on Tuesday, December 1, 2020

Credit Human’s checking account options

Dividend Checking

A low-fee checking account that earns interest and debit card rewards. It doesn’t refund ATM fees, though, so if you don’t live near a Credit Human branch, taking money out could get expensive.
APYMinimum Balance Amount to Earn APY
0.10%
$0.01
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: $5 (waived if enrolled in direct deposit and online statements)
  • ATM fees: None at Credit Human ATMs and ATMs in the greater Houston area; $1 at all other ATMs
  • ATM fee refunds: None
  • Overdraft fees: $25

You need to deposit at least $25 to open a Dividend Checking account. After that, there is no minimum balance requirement. This account charges a $5 monthly fee, but you can get it waived by enrolling in online statements and setting up a direct deposit for any amount.

The Dividend Checking account earns interest on all balances, but the rate is below average. If you spend on the debit card using the credit option, you earn points in the ScoreCard Rewards program. These can be used for things such as flights and merchandise. Terms may apply.

Credit Human does not charge a fee when you use its ATMs or other ATMs in the greater Houston area. But it charges $1 if you use other ATMs elsewhere. Also, it will not refund any fees charged by the owner of a non-Credit Human ATM. Credit Human does not take part in a credit union ATM sharing program — such as CO-OP — so a fee applies even if you go to a partner credit union.

You can sign up for Credit Human online or at one of its branches. You will need to provide your name, address, Social Security number and a form of government-issued ID. You will also need to open a Share Savings account with a deposit of at least $5. Every member is required to have this account.

When you apply for membership, you can set up your Dividend Checking account at the same time. You will need to make your initial deposit to open the account.

SEE DETAILS Secured

on Credit Human’s secure website

NCUA Insured

Free Checking

Credit Human’s Free Checking account has no monthly fee, but it doesn’t earn interest. We’d stick to its interest-earning account because the monthly fee is easy to avoid, so it’s practically free.
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: None
  • ATM fees: None at Credit Human ATMs and ATMs in the greater Houston area; $1 at all other ATMs
  • ATM fee refunds: None
  • Overdraft fees: $25

The Free Checking account requires an opening deposit of only $25. After that, there is no minimum balance requirement. The account never charges a monthly fee.

The Free Checking account does not earn interest. If you spend on the debit card, you earn points in the ScoreCard Rewards program, which can be used for flights, merchandise and other benefits. Terms may apply.

Credit Human does not charge a fee when you use its ATMs or any ATMs in the greater Houston area. But it charges $1 if you use other ATMs. Also, it will not refund any fees charged by the owner of a non-Credit Human ATM. Credit Human does not take part in a credit union ATM sharing program, so a fee applies even if you go to a partner credit union.

You can sign up with Credit Human online or at one of its branches. You will need to provide your name, address, Social Security number and a form of government-issued ID. You will also need to open a Share Savings account with a deposit of at least $5. Every member is required to have this account.

When you apply for membership, you can also set up your Free Checking account at the same time. You will need to make your initial deposit to open the account.

SEE DETAILS Secured

on Credit Human’s secure website

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How Credit Human’s checking accounts compare

The Credit Human checking accounts are nearly identical. The only major difference is that Dividend Checking pays interest but could cost you $5 a month, whereas Free Checking has no fee but doesn’t earn interest.

Since it’s easy to avoid the monthly fee on Dividend Checking (you just need online statements and direct deposit), we believe it’s the superior account of the two. It’s not a bad choice because it’s low-cost, earns interest — albeit one that’s below average — and offers debit card rewards. Still, it’s a long way from a top-tier option.

We also don’t like that Credit Human does not refund out-of-network ATM fees. This can get expensive if you find yourself outside of San Antonio and away from the Credit Human branches. Because of these issues, we would skip the Credit Human checking accounts and go with one of these excellent online checking account options instead. They pay nearly 10 times as much interest and provide much better (and free) ATM access.

Credit Human’s savings account option

Share Savings

Every Credit Human member must open this savings account. Fortunately, it’s a half-decent account that doesn’t charge a monthly fee and offers an OK interest rate.
APYMinimum Balance Amount to Earn APY
0.25%
$100 ($5 for members younger than 18)
  • Minimum opening deposit: $5
  • Monthly account maintenance fee: None
  • ATM fees: None at Credit Human ATMs and any ATMs in the greater Houston area; $1 at all other ATMs
  • ATM fee refunds: None
  • Overdraft fees: $25

If you want to join Credit Human, you’ll need to open a Share Savings account as part of the membership application. This account requires an opening deposit of just $5, and you need to keep at least this much in the account at all times. If you don’t, Credit Human considers that you canceled your membership.

This account does not charge a monthly fee. It earns interest when your balance is at least $100 — and the rate is decent. Members younger than 18 earn interest so long as their balance is $5.

The Share Savings account has some limits on how often you can take out money. If your balance is less than $1,500, you can only make four free withdrawals a month. Credit Human charges a $2 fee for withdrawals past four. But if your balance is over $1,500 or you are younger than 18, it waives this fee, and you can make unlimited free ATM and bank withdrawals.

There is another savings account restriction because of a federal government rule, Regulation D. You are allowed to make up to six certain transfers or withdrawals per month, which includes checks, debit purchases, drafts and transfers to other accounts. If you make more than six, Credit Human may close your account or charge a $7 fee for each excess transaction. Regulation D doesn’t apply to ATM and bank withdrawals, so you can make as many of these as you want.

You can sign up with Credit Human online or at one of its branches. You will need to provide your name, address, Social Security number and a form of government-issued ID. You will also need to make your initial deposit of at least $5 to open the Share Savings account. You can also now open other Credit Human deposit accounts.

SEE DETAILS Secured

on Credit Human’s secure website

NCUA Insured

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How Credit Human’s savings account compares

For a mandatory account, the Share Savings account is pretty good. There’s never a monthly fee, it only requires a $5 opening deposit and the interest rate is above average. It’s better than what you’d receive at a large national bank.

We are a little concerned about the withdrawal restrictions. If your balance is less than $1,500 a month, you can only make four free withdrawals per month, and you’ll owe $2 for each transaction over the limit. That’s restrictive even by savings account standards, and we don’t think the account earns enough to make up for this lack of access.

These online savings accounts could be a better choice because they pay even higher interest rates while giving you more flexibility to take out money. While the Share Savings account isn’t bad, we believe these other options are better.

Credit Human’s CD rates

Share Certificates

Not only do these Share Certificates offer excellent rates, but they let you customize the number of months in their term. Finding a better deal than that is hard.
TermAPY ($1,000)APY ($90,000)
6-11 months0.35%
2.00%
12-17 months0.55%
2.40%
18-23 months0.55%
2.60%
24-35 months0.60%
2.65%
36-59 months0.70%
2.70%
60-83 months0.90%
2.75%
84-119 months1.20%
2.85%
120 months1.40%
2.95%
  • Minimum opening deposit: $1,000 ($90,000 for Jumbo)
  • Minimum balance amount to earn APY: $1,000 ($90,000 for Jumbo)
  • Early withdrawal penalty: Varies by term, as the penalty will be the greater of $50 or:
    • 180 days’ dividends for certificates with maturities of six months or less than 12 months
    • 270 days’ dividends for certificates with maturities of 12 months or less than 36 months
    • 365 days’ dividends for certificates with maturities of 36 months or less than 60 months
    • 730 days’ dividends for certificates with maturities of 60 months or less than 84 months
    • 1,095 days’ dividends for certificates with maturities of 84 months and longer

Credit Human offers a wide variety of Share Certificates, with terms as short as six months up to 120 months (10 years.) It also lets you pick the exact number of months in different ranges. For example, one range is 18 to 23 months. You can pick a certificate with any number of months between 18 and 23 while earning the same interest rate.

You must deposit at least $1,000 and keep this much in your certificate to earn the APY. Credit Human also offers Jumbo Certificates, which require a deposit of $90,000. But the Jumbo rates are the same as the regular rates.

If you take money out of your Share Certificate before the maturity date, you’ll owe an early withdrawal penalty, depending on the length of your certificate (see above).

You can sign up with Credit Human online or at one of its branches. You will need to provide your name, address, Social Security number and a form of government-issued ID. You will also need to open a Share Savings account with a deposit of at least $5. Every member is required to have this account.

When you apply for membership, you can set up the Share Certificates with terms of 24 months or less at the same time. For the other terms, customer service told us you could open them by logging in to your online banking account after becoming a member. You will need to make your initial deposit to complete opening the certificate.

SEE DETAILS Secured

on Credit Human’s secure website

NCUA Insured

Liquid Share Certificate

This one-year Share Certificate gives you the flexibility to take out money before the maturity date and still receive a competitive interest rate.
TermAPY
1 year0.30%
  • Minimum opening deposit: $5,000
  • Minimum balance amount to earn APY: $5,000
  • Early withdrawal penalty: You can make two free withdrawals before the maturity date. If you make more than two, the penalty will be the greater of $50 or 270 days’ dividends on the amount withdrawn.

If you want early access to your CD deposit, Credit Human also offers a Liquid Share Certificate. These certificates only come in a one-year maturity. During this time, you can make up to two withdrawals before the maturity date without owing a penalty. You can also deposit more money in your Liquid Share Certificate whenever you want. Regular CDs do not allow additional deposits.Credit Human’s Liquid Share Certificate requires an opening deposit of at least $5,000, and you must keep this much in the account to earn the APY.

If you make more than two early withdrawals, Credit Human will charge a penalty, either $50 or 270 days worth of dividends on the amount withdrawn, whichever is larger.

You can sign up with Credit Human online or at one of its branches. You will need to provide your name, address, Social Security number and a form of government-issued ID. You will also need to open a Share Savings account with a deposit of at least $5. Every member is required to have this account.

When you apply for the required membership, you can also set up your Liquid Share Certificate at the same time. You will need to make your initial deposit to open the account.

SEE DETAILS Secured

on Credit Human’s secure website

NCUA Insured

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How Credit Human’s CD rates compare

Credit Human’s Share Certificates are extremely competitive. Not only do they all pay high rates, but they give you the flexibility to customize to the exact number of months. This can come in handy if you have a specific timeline for needing your money back.

If you’re worried about locking up your savings in a CD, Credit Human’s Liquid Share Certificate gives you the flexibility to make two penalty-free withdrawals before the maturity date. While it pays a slightly lower rate than the regular Share Certificates, it’s still a decent offer for a one-year CD.

Credit Human’s Share Certificates stand up well even against the top competition, but if you are serious about finding the highest rate, be sure to compare against our list of the best CDs available. Then you can determine whether Credit Human or someone else has the highest return for your savings.

Credit Human’s money market account option

Money Market Savings

Credit Human’s Money Market Savings account earns more than its regular savings account, but only if you have at least $10,000 or more. Not a bad money market account, but there are better options out there.
APYMinimum Balance Amount to Earn APY
0.25%
$0.01
0.25%
$1,000
0.30%
$10,000
0.35%
$90,000
  • Minimum opening deposit: $1,000
  • Monthly account maintenance fee: $7 (waived for balances of $1,000 or more)
  • ATM fees: None at Credit Human ATMs and ATMs in the greater Houston area; $1 at all other ATMs
  • ATM fee refunds: None
  • Overdraft fees: $25

Credit Human offers a Money Market Savings account for larger deposits. You must deposit at least $1,000 to open this account. After that, your balance needs to stay above $1,000 or you’ll get charged a $7 monthly fee.

The Credit Human Money Market Savings account earns interest on all balances; the rate increases as you deposit more. You need a balance of at least $10,000 before you earn more than the regular Share Savings account.

As a money market account, this account falls under a federal regulation that limits how often you can make withdrawals. You are allowed to make up to six certain withdrawals per statement cycle. If you make more than six, Credit Human charges a $7 fee for each additional transaction.

You can sign up with Credit Human online or at one of its branches. You will need to provide your name, address, Social Security number and a form of government-issued ID. You will also need to open a Share Savings account with a deposit of at least $5. Every member is required to have this account.

While you apply for membership, you can also set up your Money Market Savings account at the same time. You will need to make your initial deposit to open the account.

SEE DETAILS Secured

on Credit Human’s secure website

NCUA Insured

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How Credit Human’s money market account compares

If you plan on depositing $10,000 or more, the money market account is somewhat respectable. But you’ll need at least this much in your account before you’ll earn a decent interest rate. If you have less than $10,000, Credit Union’s money market rates are mediocre.

As far as fees, Credit Human’s money market account is fairly low-cost. It only charges a $7 monthly fee; you need a balance of $1,000 to have it waived.

But while this account is OK, other money market accounts earn much more and don’t require a $10,000 deposit to make it happen. We would recommend them over Credit Human’s money market account.

Credit Human’s IRA account options

Credit Human IRA Certificates

You can open any of the Share Certificates as part of an IRA. Its IRA Certificate rates are fantastic across the board.
TermAPY
6-11 months0.35%
12-17 months0.55%
18-23 months0.55%
24-35 months0.60%
36-59 months0.70%
60-83 months0.90%
84-119 months1.20%
120 months1.40%
  • Minimum opening deposit: $500
  • Minimum balance amount to earn APY: No minimum to earn APY
  • Early withdrawal penalty: The penalty will be the greater of $50 or:
    • 180 days’ dividends for certificates with maturities of six months or less than 12 months
    • 270 days’ dividends for certificates with maturities of 12 months or less than 36 months
    • 365 days’ dividends for certificates with maturities of 36 months or less than 60 months
    • 730 days’ dividends for certificates with maturities of 60 months or less than 84 months
    • 1,095 days’ dividends for certificates with maturities of 84 months and longer

You can open any of the Share Certificates as part of an IRA for your retirement plan. The interest rates are the same and are excellent for IRA CDs.

The lengths range from six months up to 120 months (10 years). Credit Human also lets you pick the exact number of months in different ranges for your IRA Certificate. For example, one range is 18 to 23 months. You can pick any term from 18 to 23 months and earn the same interest rate.

You need to deposit at least $500 to open an IRA Certificate. But there is no minimum balance requirement after that to earn the APY.

If you take out money from your IRA Certificate before the maturity date, you’ll owe an early withdrawal penalty (see above).

You can sign up with Credit Human online or at one of its branches. You will need to provide your name, address, Social Security number and a form of government-issued ID. You will also need to open a Share Savings account with a deposit of at least $5. Every member is required to have this account.

Once you’re a member, you can set up an IRA Certificate. Credit Human asks for you to call its Member Service Center or visit one of its branches to open an IRA. It’s not available through its online portal.

SEE DETAILS Secured

on Credit Human’s secure website

NCUA Insured

Money Fund IRA

The Money Fund IRA earns less than the IRA Certificates, but you can open it with a smaller deposit and take out money without owing a penalty.
APY Minimum Balance Amount to Earn APY
0.20%
$50
0.25%
$1,000
0.30%
$10,000
0.35%
$90,000
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $0

On top of its IRA Certificates, Credit Human also offers a Money Fund IRA. When you open this account, you aren’t committing to a set amount of time like on an IRA CD. You have the flexibility to take out your money when you want without a penalty.

You need to deposit at least $50 to open a Money Fund IRA. This account does not charge a monthly fee, but if your balance falls below $50, you stop earning interest. The more you have in your account, the higher the rate you get before you max out with a balance of $90,000 or more. But even at this highest level, the Money Fund IRA earns less than its Share Certificates.

As with all of Credit Human’s accounts, you need to become a member of the credit union, as outlined above.

You can sign up with Credit Human online or at one of its branches. You will need to provide your name, address, Social Security number and a form of government-issued ID. You will also need to open a Share Savings account with a deposit of at least $5. Every member is required to have this account.

Once you’re a member, you can set up a Money Fund IRA. Credit Human asks for you to call its Member Service Center or visit one of its branches to open an IRA. It’s not available through its online portal.

SEE DETAILS Secured

on Credit Human’s secure website

NCUA Insured

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How Credit Human’s IRA CD rates compare

We are big fans of Credit Human’s IRA Certificates. They are close to some of the best rates available in the entire country. You can also open them up for a low deposit of $500. Other top-paying options often require a deposit of $1,000 or more.

The Money Fund IRA is not quite as appealing. With these types of accounts, you’re always going to earn less in exchange for a lower deposit and more flexibility to take out money. If you can’t meet the $500 deposit required for an IRA Certificate, the Money Fund IRA might be worth using to build your savings.

But as soon as you can afford the IRA Certificates, that’s where you should go. Or you could check out these other excellent IRA CDs in your search for the best possible return on your retirement savings.

Overall review of Credit Human’s banking products

For a small, local financial co-op, Credit Human makes a big impression with some of its deposit accounts. We are most impressed with its CD and IRA CD rates. For these types of accounts, Credit Human is competitive with even the best offers in the entire country.

The rest of the Credit Human deposit accounts are not at this same level. While its money market and savings accounts are OK, its rates are still far below the top options available.

The Credit Human checking accounts are our least-favorite option mainly because of their lack of convenient ATM access. It’s disappointing that Credit Human doesn’t partner with any ATM networks or refund out-of-network ATM fees because this doesn’t give you much access to your money.

Since Credit Human requires a membership, it takes a bit more work to use its deposit accounts. While not all its deposit accounts are worth the effort, its CDs and IRA CDs are certainly worth considering.