San Diego County Credit Union Review: Checking, Savings, CD, Money Market and IRA Accounts

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Updated on Sunday, November 1, 2020

San Diego County Credit Union checking account options

Classic checking

A simple checking account that doesn’t earn much in interest.
APYMinimum Balance to Earn APY
0.01%
$1,500
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: $5 (this can be waived)
  • ATM fee: $2 for out-of-network ATMS
  • ATM fee refund: None
  • Overdraft fee: $30 each; $5 each with overdraft protection

This is a checking account that doesn’t offer much in the way of interest earned. You do, however, get online and mobile banking, and a Visa debit card that offers 1% cash back on qualifying purchases. You can also use the card at over 30,000 surcharge-free ATMs through the CO-OP network.

The monthly maintenance fee can be waived if you keep a $1,000 minimum daily balance, $2,500 in combined average daily savings balance or at least $100 in direct deposits each pay period. You can also opt for overdraft protection by linking a savings or money market account, which will set you back $5 per transfer.

How to get the classic checking account

You must establish membership when you open a classic checking account. To do so, head to their online application form, indicate how you qualify and agree to open a primary savings account to establish membership. Then you’ll be asked to provide details such as your name, address, date of birth, Social Security number and a way to fund your accounts.

SEE DETAILS Secured

on San Diego County Credit Union’s secure website

NCUA Insured

Free Checking with eStatements

You can waive monthly fees by choosing to receive e-statements.
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: $0 with e-statements, $2 with paper statements
  • ATM fee: $2 for out-of-network ATMs
  • ATM fee refund: None
  • Overdraft fee: $30 each; $5 each with overdraft protection

Unfortunately, you don’t earn any interest with this checking account but there are no minimum balance requirements or monthly maintenance fees if you choose to receive e-statements. Account holders also get online and mobile access to their account, and a Visa debit card that currently earns 1% cash back on qualifying purchases. There are also over 30,000 surcharge-free ATMs from the CO-OP network you can access.

You can link this account to a savings or money market account for overdraft protection, which will cost you $5 each time a transfer is made.

How to get the Free Checking with eStatements account

To open this account, you’ll need to establish membership by indicating how you qualify and open a primary savings account when filling out the online application form. San Diego County Credit Union will also ask you to fill in your personal details such as your name, address and Social Security number. Afterward, fund your account.

SEE DETAILS Secured

on San Diego County Credit Union’s secure website

High-yield checking

This account may not be worth it to earn these rates.
APYMinimum Balance to Earn APY
0.03%
$100
0.03%
$5,000
0.03%
$10,000
0.03%
$25,000
0.03%
$50,000
0.03%
$100,000
0.05%
$225,000
0.05%
$500,000
  • Minimum opening deposit: $5,000
  • Monthly account maintenance fee: $15 (this can be waived)
  • ATM fee: $2 for out-of-network ATMs
  • ATM fee refund: None
  • Overdraft fee: $30 each; $5 each with overdraft protection

Yes, you can earn a higher APY, but the minimum deposit requirements seems a bit steep. The account opening balance also seems high so it’s best for those who have a chunk of cash lying around.

To waive the monthly maintenance fee, you’ll need to maintain a $25,000 minimum average daily balance. You’ll also get online and mobile banking access, and a Visa debit card that currently gives you 1% cash back on qualifying purchases.

How to get the high-yield checking account

You need to open a primary savings account at the same time you open the high-yield checking account to establish membership when you fill out the online application form. First, indicate how you qualify for membership then fill in your personal details such as your name, address and Social Security number and a way to fund the account.

SEE DETAILS Secured

on San Diego County Credit Union’s secure website

NCUA Insured

Teen checking

A decent starter checking account.
  • Minimum opening deposit: None
  • Monthly account maintenance fee: None
  • ATM fee: $2 for out-of-network ATMs
  • ATM fee refund: None
  • Overdraft fee: $30 each (exceptions apply, read below)

Anyone between the ages of 13 to 17 can open this account as long as a parent or guardian is the joint owner. It’ll automatically be converted into the Free Checking with eStatements account once the primary account holder turns 18.

Account holders get online and mobile banking access, and an ATM card upon adult approval. This account doesn’t have courtesy clearing or debit card overdraft services unlike the other checking account options mentioned above.

How to get the teen checking checking account

You can only open this account in person.

SEE DETAILS Secured

on San Diego County Credit Union’s secure website

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How San Diego County Credit Union’s checking accounts compare

As much as we want to say the rates for these checking accounts are great, sadly they’re not. The high-yield checking account does feature APYs that’s almost on par with some of the best checking account offerings out there but it requires a high minimum balance.

Do yourself a favor and see if you can get better rates elsewhere.

San Diego County Credit Union savings account options

Primary savings

Be careful, the excess transaction fee is quite high.
APYMinimum Balance to Earn APY
0.03%
$100
  • Minimum opening deposit: $1
  • Minimum balance to earn APY: $100
  • Monthly account maintenance fee: None
  • ATM fee: $2 for out-of-network ATMs
  • ATM fee refund: None
  • Overdraft fee: N/A

All members need to open this account so even though the rate is miniscule, you really don’t have a choice. However, there are no monthly maintenance fees and you only need $1 to open the account, so it looks like you don’t need to keep a lot of money in the account if you choose not to.

Other features of the account include ATM access to more than 30,000 surcharge-free ATMs through the CO-OP shared network, online banking and text alerts. Keep mind you’re allowed up to six certain withdrawals/transfers a month because of Regulation D and you’ll need to pay a whopping $27 as an excess transaction fee if you go over that amount.

How to get the primary savings account

You can open a primary savings account by filling out an online application form. You’ll be asked to specify how you qualify as a member then fill in details such as your name, address and Social Security number. Afterward, fund your account.

SEE DETAILS Secured

on San Diego County Credit Union’s secure website

NCUA Insured

Special savings

You’re probably better off with another type of savings account.
APYMinimum Balance to Earn APY
0.03%$100
  • Minimum opening deposit: $1
  • Minimum balance to earn APY: $100
  • Monthly account maintenance fee: $0
  • ATM fee: $2 for out-of-network ATMs
  • ATM fee refund: None
  • Overdraft fee: N/A

According to San Diego County Credit Union, the special savings account is meant to be a dedicated place to help you set aside funds for long-term goals. However, if you don’t intend on touching this account, there are options which offer higher rates.

Like the primary savings account, you get online banking, an ATM card and text alerts. You’re allowed up to six certain withdrawals/transfers a month because of Regulation D and you’ll need to pay a $27 excess transaction fee if you go over.

How to get the special savings account

You’ll need to open a primary savings account to establish membership when you open an special savings account. To do so, head over to the online application form and choose how you qualify for membership. Then, fill in details such as your name, address and Social Security number and a way you can fund the account.

SEE DETAILS Secured

on San Diego County Credit Union’s secure website

Great Rate Savings

Sadly, the best rates still fall flat.
APYMinimum Balance to Earn APY
0.03%
$25,000
0.03%
$50,000
0.05%
$100,000
0.05%
$225,000
0.10%
$500,000
  • Minimum opening deposit: $5,000
  • Minimum balance to earn APY: $25,000
  • Monthly account maintenance fee: None
  • ATM fee: $2 for out -of-network ATMs
  • ATM fee refund: None
  • Overdraft fee: N/A

This account offers much higher APYs compared with the San Diego County Credit Union’s savings accounts. Unfortunately, there are high minimum balance requirements, meaning you’ll probably need to have a large sum of cash to spare to earn the advertised APY.

With this account, you get a free ATM card, online banking and text alerts. Keep in mind like all other savings accounts, you’re allowed up to six certain withdrawals/transfers a month as per Regulation D. Otherwise, you’re looking at a $27 excess transaction fee.

How to get the Great Rate Savings account

In order to get the Great Rate Savings account, you need to establish membership by opening a primary savings account. Go to the credit union’s online application form and specify how you qualify for membership, then provide details such as your name and Social Security number. Afterward, fund both accounts.

SEE DETAILS Secured

on San Diego County Credit Union’s secure website

NCUA Insured

Teen first savings

A decent starter account.
  • Minimum opening deposit: $1
  • Minimum balance to earn APY: $100
  • Monthly account maintenance fee: $0
  • ATM fee: $2 for out-of-network ATMs
  • ATM fee refund: None
  • Overdraft fee: N/A

The Teen First savings account is a great low-cost account option for those between the ages of 13 to 17. To open the account, a parent or a guardian needs to be the joint owner. An ATM card will be given only with the adult’s permission. Once the account holder turns 18, the account will be converted into a primary savings account.

Like other savings accounts, you’re allowed up to six certain withdrawals/transfers each month as mandated by Regulation D. More than that and your teen will need to pay a $27 excess transaction fee. The rates aren’t advertised on the website, so you’ll need to call the bank for the most up-to-date rates.

How to get the Teen first savings account

You can only open this account in person.

SEE DETAILS Secured

on San Diego County Credit Union’s secure website

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How San Diego County Credit Union’s savings accounts compare

We think it’s great that most of the savings accounts have low minimum deposit requirements, but the rates are extremely low. Even their highest APY doesn’t compare to the rates on our list of the best online savings accounts. In fact, you’re probably better off checking our list for more competitive rates.

San Diego County Credit Union CD rates

Certificate account

The promo rate isn’t too shabby.
TermAPYMinimum balance to earn APY
3 months0.10%
$2,000
3 months0.15%
$10,000
3 months0.20%
$90,000
6 months0.25%
$2,000
6 months0.30%
$10,000
6 months0.35%
$90,000
12 months0.35%
$2,000
12 months0.40%
$10,000
12 months0.45%
$90,000
15 months (promo)2.00%
$2,000
15 months (promo)2.00%
$10,000
15 months (promo)2.00%
$90,000
18 months0.45%
$2,000
18 months0.50%
$10,000
18 months0.55%
$90,000
24 months0.55%
$2,000
24 months0.60%
$10,000
24 months0.65%
$90,000
36 months0.70%
$2,000
36 months0.75%
$10,000
36 months0.80%
$90,000
48 months0.80%
$2,000
48 months0.85%
$10,000
48 months0.90%
$90,000
60 months1.05%
$2,000
60 months1.10%
$10,000
60 months1.15%
$90,000
  • Minimum opening deposit: $2,000
  • Minimum balance amount to earn APY: $2,000
  • Early withdrawal penalty: Depends on length of term:
    • Up to and including one year – 90 days’ interest
    • More than a year – 180 days’ interest

The certificates of deposit are great for those who have a fair amount to put on deposit and want to set aside funds for their savings goals. You do get a guaranteed rate of return and the APYs you see above assume you’ll keep all interest earned will remain in the account until it matures. Interest you earn will be compounded and deposited into your account each month.

Upon maturity, CDs with promotional rates will automatically renew to one that has a regular rate. Regular-rate CDs will automatically be rolled over into one with the same term unless you make changes within the seven-day grace period. You can also make withdrawals or additional deposits during that time.

How to get San Diego County Credit Union’s CDs

You can open an account by filling out an online application form. First you’ll need to indicate how you qualify for membership, agree to open a primary savings account and enter in personal details like your name and Social Security number. Then you can fund your accounts.

SEE DETAILS Secured

on San Diego County Credit Union’s secure website

NCUA Insured

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How San Diego County Credit Union’s CD rates compare

To be frank, only the 15 month and 60 month terms are worth looking into. Still, those rates are not as high as some of the best advertised CD rates from other competitors. You might even be able to find one with a lower opening deposit if that’s important to you.

San Diego County Credit Union money market account options

Money market

This account seems to have more limitations than the savings.
APYMinimum Balance to Earn APY
0.03%
$100
0.03%
$5,000
0.03%
$10,000
0.03%
$25,000
0.05%
$50,000
0.05%
$100,000
  • Minimum opening deposit: $5,000
  • Minimum balance to earn APY: $100
  • Monthly account maintenance fee: $0
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

Yes, there are tiered rates for the money market account, but it doesn’t seem nearly as high as San Diego Credit Union’s savings accounts and there are less ways to access your account. For one, there is no ATM access, though you get bill pay and mobile and online banking. Remember that Regulation D allows you up to six specific withdrawals/transfers a month, or else you’re paying a $27 excessive transaction fee for each additional one.

How to get San Diego County Credit Union’s money market account

You can open an account by filling out an online application form. First, you’ll need to indicate how you qualify for membership, agree to open a primary savings account and enter in personal details like your name and Social Security number. Then you can fund your accounts.

SEE DETAILS Secured

on San Diego County Credit Union’s secure website

NCUA Insured

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How San Diego County Credit Union’s money market accounts compare

We’re not terribly impressed as there are high minimum balance requirements and the rates are nowhere close to the ones on our list of the best money market accounts. To maximize your savings, we think you may be better off looking elsewhere.

San Diego County Credit Union IRA account options

IRA CD rates

IRA certificates

These rates aren’t the greatest.
TermAPYMinimum balance to earn APY
3 months0.10%
$2,000
3 months0.15%
$10,000
3 months0.20%
$90,000
6 months0.25%
$2,000
6 months0.30%
$10,000
6 months0.35%
$90,000
12 months0.35%
$2,000
12 months0.40%
$10,000
12 months0.45%
$90,000
15 months (promo)2.00%
$2,000
15 months (promo)2.00%
$10,000
15 months (promo)2.00%
$90,000
18 months0.45%
$2,000
18 months0.50%
$10,000
18 months0.55%
$90,000
24 months0.55%
$2,000
24 months0.60%
$10,000
24 months0.65%
$90,000
36 months0.70%
$2,000
36 months0.75%
$10,000
36 months0.80%
$90,000
48 months0.80%
$2,000
48 months0.85%
$10,000
48 months0.90%
$90,000
60 months1.05%
$2,000
60 months1.10%
$10,000
60 months1.15%
$90,000
  • Minimum opening deposit: $2,000
  • Minimum balance amount to earn APY: $2,000
  • Early withdrawal penalty: Depends on length of term:
    • Up to (and including) one year — 90 days’ interest
    • More than one year — 180 days’ interest

You’ll notice that the rates are the same as the regular IRA CDs with the exception that these are tax-advantaged accounts. Interest is compounded and deposited monthly into your account. Since this is a retirement account, you could be penalized by the IRS if make withdrawals before the age of 59 1/2 plus any fees imposed by San Diego County Credit Union.

When your IRA CD matures, you have a seven-day grace period to make changes such as renewing for another term, depositing or withdrawing. Otherwise, it’ll automatically be renewed. If you opened an IRA CD with promotional rates, it’ll be automatically be renewed to one that has a regular rate.

How to get San Diego County Credit Union ’s IRA CDs

You can open an account online by first establishing membership through the credit union’s online application form. You’ll need to specify how you qualify for membership and agree to open a primary savings account. Afterward, fill in personal details like your name and Social Security number, then fund both accounts.

SEE DETAILS Secured

on San Diego County Credit Union’s secure website

NCUA Insured

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How San Diego County Credit Union’s IRA CD rates compare

These IRA CD rates fall slightly flat when compared with some of the best advertised IRA CD rates out there. Even with the higher deposit amounts you’ll probably want to do some comparison shopping to maximize your savings.

IRA savings account

Just an average IRA savings account.
APYMinimum Balance to Earn APY
0.03%
$100
  • Minimum opening deposit: $1
  • Minimum balance to earn APY: $100
  • Monthly account maintenance fee: None
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

This is your run-of-the-mill IRA savings account that is best for those who need a place to stash and withdraw IRA funds without any early withdrawal penalties, though you could face tax consequences from the IRS.

Since this is a savings account, Regulation D allows you up to six certain withdrawals/transfers a month. Otherwise, you’ll be paying a $27 excess withdrawal fee for each one you go over.

How to get San Diego County Credit Union’s IRA savings account

You can open an account online by first establishing membership through the online application form. You’ll need to specify how you qualify for membership and agree to open a primary savings account. Afterward, fill in personal details like your name and Social Security number then fund both accounts.

SEE DETAILS Secured

on San Diego County Credit Union’s secure website

NCUA Insured

IRA money market account

You can earn a better rate compared with the IRA savings account.
APYMinimum Balance to Earn APY
0.03%
$100
0.03%
$5,000
0.03%
$10,000
0.03%
$25,000
0.05%
$50,000
0.05%
$100,000
  • Minimum opening deposit: $5,000
  • Minimum balance to earn APY: $100
  • Monthly account maintenance fee: $0
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

The IRA money market account does offer a higher rate than the savings one but you need to have a higher minimum and opening deposit amount. It could be best for those who are rolling over IRA funds from another account or have a decent chunk of cash to open an account. You are allowed up to six  certain withdrawals/transfers a month because of Regulation D and you could be paying a $27 excess transaction fee for each transaction you go over.

How to get San Diego County Credit Union’s IRA money market account

You can open an account online by first establishing membership through the online application form. You’ll need to specify how you qualify for membership and agree to open a primary savings account. Afterward, fill in personal details like your name and Social Security number then fund both accounts.

SEE DETAILS Secured

on San Diego County Credit Union’s secure website

NCUA Insured

Overall review of San Diego County Credit Union’s banking products

We like the fact that membership is not as restrictive compared with other credit unions, but their rates aren’t exactly the best out there. Some of the CD rates are fairly on par with the best offering out there, but that’s about it.

You’re better off doing some shopping around to find better deals.