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

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Updated on Tuesday, September 1, 2020

Tinker Federal Credit Union checking account options

Tinker Federal Credit Union Click Checking Account

This pays a decent interest rate if you meet the requirements — and it’s high enough that it might be worth the effort.
APYMinimum Balance Amount to Earn APY
1.25%
$0.01 (monthlytransactions met)
0.10%
Balances over $30,000 (monthly transactions met)
  • Minimum opening deposit: $25 or with a set up direct deposit.
  • Monthly account maintenance fee: None
  • ATM fees: None for withdrawals. There is a 50 cent fee for making balance inquiries at out-of-network ATMs.
  • ATM fee refunds: None
  • Overdraft fees: $22.50

When you open a Click Checking account, you have two options to launch the account. You can either make a deposit of at least $25, or you can set up a direct deposit for the future.

The Click Checking account pays a high interest rate but to qualify, each month you must meet all the following:

  1. Log into your online banking account through TFCU Home Branch.
  2. Pay at least one bill through online banking.
  3. Make at least 10 purchases using your debit card
  4. Use electronic, not paper statements.
  5. Receive at least one direct deposit or automatic transfer.

If you meet all these requirements, you’ll receive an excellent interest rate on up to $30,000 in your account; any amount over $30,000 receives a very low rate. Any month where you don’t meet the Click requirements, you’ll receive a much lower rate on your entire balance.

With the Click Checking account, you can make free withdrawals from Tinker Federal Credit Union, CO-OP, ATMZone and Transfund NC ATMs. You can also make free withdrawals from OnCue and QuikTrip ATMs in Oklahoma and 7-Eleven ATMs in the Oklahoma City metro area. If you use another ATM, the credit union charges a 50 cent fee on balance inquiries but nothing on withdrawals. However, they will not refund any costs from the ATM owner.

You must be a member of the Tinker Federal Credit Union to open a Click Checking account. You can open this account while setting up your membership though using the same application.

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Tinker Federal Credit Union Heritage Checking Account

A special checking account with above-average interest for customers who 55 and older.
APYMinimum Balance Amount to Earn APY
0.20%
$0.01
  • Minimum opening deposit: None
  • Monthly account maintenance fee: None
  • ATM fees: None for withdrawals. There is a 50 cent fee for making balance inquiries at out-of-network ATMs.
  • ATM fee refunds: None
  • Overdraft fees: $22.50

If you are 55 or older, you can apply for a Heritage Checking account. This account does not have a minimum balance requirement. You can also open for any amount and there is no monthly fee, no matter how low your balance gets.

The Heritage Checking account earns interest on all balances and the rate is above average. It’s quite a bit lower than the excellent rate for Click Checking; however, you also won’t need to meet any requirements each month to qualify.

When you have this account, you qualify for several other benefits with Tinker Federal Credit Union. This account comes with two free boxes of checks per year and a discount on a safety deposit box, and it also waives the fees for wiring funds, stop payments, official checks and money orders.

With the debit card, you can make free withdrawals from Tinker Federal Credit Union, CO-OP, ATMZone and Transfund NC ATMs. Withdrawals from OnCue and QuikTrip ATMs in Oklahoma and 7-Eleven ATMs in Oklahoma City are also free. If you use an out-of-network ATM, withdrawals are free but the credit union charges 50 cents for balance inquiries. They also will not refund charges from the ATM owner.

You can open a Heritage Checking account online, at a Tinker Federal Credit Union branch or over the phone. If you aren’t already part of the credit union, you can open this account while setting up your membership.

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Tinker Federal Credit Union Classic Checking Account

With no interest paid, this account is not as generous as the other options at Tinker Federal Credit Union.
  • Minimum opening deposit: $25 or set up a direct deposit.
  • Monthly account maintenance fee: None
  • ATM fees: None for withdrawals. There is a 50 cent fee for making balance inquiries at out-of-network ATMs.
  • ATM fee refunds: None
  • Overdraft fees: $22.50

To open a Classic Checking account, you can either make a deposit of $25 or you can set up a monthly direct deposit for the future. This account does not have a minimum balance requirement and does not charge a monthly fee.

The Classic Checking account does not earn interest. It comes with a debit card, online banking and ATM access. To help you manage your money, the credit union also gives you access to credit/budget coaching and the option to join their financial planning program.

If you want to make a withdrawal, you can make free transactions at Tinker Federal Credit Union, CO-OP, ATMZone and Transfund NC ATMs, as well as OnCue and QuikTrip ATMs in Oklahoma and 7-Eleven ATMs in Oklahoma City. If you use any other ATM, Tinker Federal Credit Union charges 50 cents for balance inquiries, but not on withdrawals. They will not refund any costs from the ATM owner.

You can apply for a Classic Checking account at a Tinker Federal Credit Union branch or online, through the online banking portal. It’s not listed on the initial membership application, so you need to join first and then you can sign up for this account.

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How Tinker Federal Credit Union’s checking accounts compare

Out of the Tinker Federal Credit Union checking accounts, we think Click Checking is the best option thanks to its generous interest rate — it’s up there with the very best rates in the country. If you’re 55 and older, Heritage Checking could also be worth a look. While it earns less than Click Checking, it comes with some extra bank benefits, like free checks and a safety deposit box discount. It’s also less work because you don’t need to meet transactions each month to earn interest.

Overall, we liked that Tinker Federal Credit Union doesn’t charge monthly fees on their checking accounts. However, we were disappointed that they do not refund out-of-network ATM fees, something that could be an issue if you ever stray away from their Oklahoma service area.

If you’re worried about out-of-network ATM charges, these top checking accounts could be a better choice. They come with generous ATM refunds and some pay even more than the Click Checking account.

Tinker Federal Credit Union savings account options

Tinker Federal Credit Union Share Savings Account

This mandatory account for credit union membership earns a respectable interest rate.
APYMinimum Balance Amount to Earn APY
0.25%
$5
  • Minimum opening deposit: $5
  • Monthly account maintenance fee: None
  • ATM fees: None at Tinker Federal Credit Union, CO-OP and ATMZone ATMs. 75 cents at out-of-network ATMs.
  • ATM fee refunds: None
  • Overdraft fees: $22.50

Tinker Federal Credit Union requires that all new members open a Share Savings account for at least $5. This is how you buy your ownership share into the organization.

After you open, you need to keep a minimum balance of at least $5 to earn interest. The rate is above average for a savings account and it always stays the same, so you will not earn more by depositing more.

With the Share Savings account, you can make free withdrawals from any ATM in Tinker Federal Credit Union’s network. This also includes CO-OP and ATMZone ATMs. If you use another ATM, Tinker Federal Credit Union charges a 75 cents withdrawal free on their savings account. They also will not refund any charges from the ATM owner.

When you sign up to join the Tinker Federal Credit Union, you will be required to open this account, so there’s no way to skip opening this account through the online application. However, you can also sign up for other deposit accounts at this time.

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on Tinker Federal Credit Union’s secure website

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How Tinker Federal Credit Union’s savings accounts compare

If you want to join the Tinker Federal Credit Union, you’ll need to open their savings account for at least $5. Fortunately, it’s a pretty decent account. There’s no monthly fee and the interest rate is well above average for a savings account. It’s high enough that we can see customers adding much more than the required $5. At other credit unions, we’ve seen them skimp on the rate for their mandatory account, so we appreciate that Tinker Federal Credit Union has put together a respectable option for their members.

There aren’t too many downsides, though one issue we did notice is that it charges an extra 75 cent fee when you use out-of-network ATMs, something that’s not charged on the checking accounts. It’s also too bad that the rate will not go up for larger deposits.

These are small flaws, but they still keep the Share Savings account from being a top-tier option, the kind that would make our list of the best savings accounts in the country. If you’re interested in the highest yield check out our online savings accounts which pay much, much more than Tinker Federal Credit Union.

Tinker Federal Credit Union’s CD rates

Tinker Federal Credit Union Regular Term Share Certificates

Tinker Federal Credit Union pays respectable certificate rates across the board, including some very generous specials.
Regular Certificates
TermAPY ($1,000)APY ($10,000)APY ($25,000)APY ($50,000)APY ($99,000)
3 months 0.60%
0.75%
0.80%
0.85%
0.90%
6 months 0.65%
0.80%
0.85%
0.90%
0.95%
12 months 0.75%
0.90%
0.95%
1.00%
1.06%
24 months 0.85%
1.00%
1.06%
1.11%
1.16%
36 months 0.90%
1.06%
1.11%
1.16%
1.21%
48 months 1.00%
1.16%
1.21%
1.26%
1.31%
Certificate Specials
TermAPY
24 months ($2,400 deposit)2.68%
33 months ($1,000 deposit)3.35%
  • Minimum opening deposit: $1,000 ($2,400 for 24-month special)
  • Minimum balance amount to earn APY: $1,000 ($2,400 for 24-month special)
  • Early withdrawal penalty: 60 days’ dividends for 3-month term; 90 days’ dividends for 6-month term; 120 days’ dividends for 12-month term; 180 days’ dividends for 24-month term; 240 days’ dividends for 36-month term; 300 days’ dividends for 48-month term or 180 days’ dividends for the Certificate Specials.

Tinker Federal Credit Union’s regular Share Certificates range from 3 months up to 48 months. You must deposit at least $1,000 to open a regular Certificate and keep this much in the account to earn the APY. The regular Share Certificate rates are quite good, well above average.

In addition, you can earn more by depositing more. Tinker Federal Credit Union has five different tiers of rates: starting with balances of $1,000, $10,000, $25,000, $50,000 and $99,000.

As of November 2018, Tinker Federal Credit Union was offering two promotional certificates with even better rates, a 24-month and a 33-month special. You need to deposit at least $2,400 to open the 24-month special while the 33-month takes the usual $1,000. At the end of the Special Certificate term, Tinker Federal Credit Union renews you into their regular 24 month Certificate unless you tell them not to.

Before you can open any of the Share Certificates, you need to become a member of the Tinker Federal Credit Union. These accounts are not on the new membership form, so you’d need to join first before applying. Once you’re a member, you can sign up for the Certificates at a bank branch or over the phone. These accounts are not available online.

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Tinker Federal Credit Union Starting Line Share Certificates

A starter certificate for small deposits that pays a lower rate.
TermAPY
12 months0.60%
  • Minimum opening deposit: $25
  • Minimum balance amount to earn APY: $25
  • Early withdrawal penalty: 90 days’ dividends.

If you can’t make the $1,000 minimum for the regular Share Certificates, Tinker Federal Credit Union offers their Starting Line Share Certificates for smaller deposits. You can open these accounts for just $25, and that’s all you need to earn the APY. The interest rate is lower than the regular Share Certificates but is OK considering the lower balance requirements.

The Starting Line Share Certificate lasts 12 months and you can add more money while your account is open. If you take money out before the maturity date, Tinker Federal Credit Union charges a penalty worth 90 days of dividends. If you’ve grown your money to at least $1,000 by the maturity date, Tinker Federal Credit Union will automatically renew you into their regular 12-month Certificate, which pays more. Otherwise, you can sign up again for the Starting Line Certificate.

You can open the Starting Line Certificate at a Tinker Federal Credit Union branch or over the phone. If you aren’t a member yet, sign up first and then you can apply for this deposit account.

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How Tinker Federal Credit Union’s CD rates compare

Tinker Federal Credit Union does an excellent job with their Share Certificates. First, their rates are all competitive. Their Special Certificates are particularly generous, as good as anything in the entire country. Tinker Federal Credit Union also has decent variety, especially for short-term certificates. They have three options for 12 months or less, as well as a starter certificate that requires only a $25 deposit.

Finally, we like that Tinker Federal Credit Union gradually increases their rates as you deposit more. It’s common for banks to have just one set of CD rates for all balances, but Tinker Federal Credit Union offers five different tiers, depending on how much you deposit. The only drawback we noticed is that they don’t offer anything longer than 48 months, so if you have a long-term savings goal, this might not be enough.

But if their Share Certificates match your timeline, Tinker Federal Credit Union could be an excellent choice. That being said, it never hurts to rate shop, so be sure to compare against this list of the best CD rates in the country. That way you can see whether you’ll get the highest return at Tinker Federal Credit Union or somewhere else.

Tinker Federal Credit Union money market account options

Tinker Federal Credit Union Command Fund Money Market Account

For smaller balances, Tinker Federal Credit Union’s regular money market account gets the job done.
APYMinimum Balance Amount to Earn APY
0.30%
$0.01
0.10%
$2,000
  • Minimum opening deposit: $2,000
  • Monthly account maintenance fee: None
  • ATM fees: None at Tinker Federal Credit Union, CO-OP and ATMZone ATMs. 75 cents at out-of-network ATMs.
  • ATM fee refunds: None
  • Overdraft fees: $22.50

You need to deposit at least $2,000 to open a Command Fund Money Market account. There’s no fee if your balance falls below $2,000 after you open, but you will earn a much lower interest rate.

At the top rate, you get an above average return, especially for a free money market account. However, this rate will not increase for larger deposits. If you plan on depositing at least $10,000, check out Tinker Federal Credit Union’s premium account, covered below.

The Command Fund Money Market account will not charge an early withdrawal penalty when you take funds out — it’s not like a CD, where you’re committing to keep your money with Tinker Federal Credit Union for a set amount of time.

You can open a Command Fund Money Market account while applying for Tinker Federal Credit Union membership; it’s an option on the new membership form. You just need to select this account and make your initial deposit of at least $2,000.

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Tinker Federal Credit Union Premium Plus Money Market Account

If you can meet the $10,000 balance requirement, this is the better option.
APYMinimum Balance Amount to Earn APY
0.10%
$0.01
0.35%
$10,000
0.40%
$25,000
0.45%
$50,000
0.50%
$75,000
0.55%
$100,000
0.60%
$150,000
0.70%
$200,000
0.80%
$250,000
  • Minimum opening deposit: $10,000
  • Monthly account maintenance fee: None
  • ATM fees: None at Tinker Federal Credit Union, CO-OP and ATMZone ATMs. 75 cents at out-of-network ATMs.
  • ATM fee refunds: None
  • Overdraft fees: $22.50

The Premium Plus Money Market account has higher balance requirements than the Command Fund. You need to deposit at least $10,000 to open this account and if your balance ever falls below $10,000, you earn an extremely low interest rate. However, there’s no monthly fee.

In exchange for the higher balance requirements, the Premium Plus Money Market account pays much better interest rates. At the base money market rate, $10,000, this account pays pays more than 40 percent over 12 months than what Command Fund pays. In addition, this account pays more for larger balances before maxing out when you have $250,000.

Like all the other deposit accounts, you can open a Premium Plus Money Market account as a member of the Tinker Federal Credit Union; you can apply online or at a branch. The Premium Plus Money Market account is on the new member application form, so you can set this up at the same time.

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How Tinker Federal Credit Union’s money market accounts compare

These money market accounts are a nice one-two combo. Command Fund is a quality starter account because you can open and earn the top rate for just $2,000. That’s a relatively low balance requirement for a money market account and the rate is still above average.

Once you have at least $10,000, you can upgrade to the Premium Plus Money Market account. It pays excellent rates and the more you deposit, the more you earn. For six-figure balances, they are competitive with nearly every lender in the country. As an added benefit, neither of the Tinker Federal Credit Union money market accounts charge a monthly fee. If you fall below the balance requirement, all that happens is you earn a reduced interest rate.

If you use the Tinker Federal Credit Union money market accounts, you should be pleased with the results. Still, if you put in the research, we believe you could earn an ever better return. These money market accounts pay more even compared to the Premium Plus account and you don’t need a six-figure balance to qualify.

Tinker Federal Credit Union’s IRA CD rates

Tinker Federal Credit Union IRA Share Certificates

All Tinker Federal Credit Union’s Share Certificates can be used through an IRA, including their top-notch specials.
Regular Certificates
TermAPY ($500)APY ($1,000)APY ($10,000)APY ($25,000)APY ($50,000)APY ($99,000)
3 months0.60%
0.60%
0.75%
0.80%
0.85%
0.90%
6 months0.65%
0.65%
0.80%
0.85%
0.90%
0.95%
12 months0.75%
0.75%
0.90%
0.95%
1.00%
1.06%
24 monthsN/A0.85%
1.00%
1.06%
1.11%
1.16%
36 monthsN/A0.90%
1.06%
1.11%
1.16%
1.21%
48 monthsN/A1.00%
1.16%
1.21%
1.26%
1.31%
Certificate Specials
TermAPY
24 months ($2,400 deposit)2.68%
33 months ($1,000 deposit)3.35%
  • Minimum opening deposit: $500 for 12 months or less, $1,000 for over 12 months, $2,400 for 24-month special.
  • Minimum balance amount to earn APY: $500 for 12 months or less, $1,000 for over 12 months, $2,400 for 24-month special.
  • Early withdrawal penalty: 60 days’ dividends for 3-month term; 90 days’ dividends for 6-month term; 120 days’ dividends for 12-month term; 180 days’ dividends for 24-month term; 240 days’ dividends for 36-month term; 300 days’ dividends for 48-month term; 180 days’ dividends for the Certificate Specials.

You can open any of the Share Certificates as part of an IRA, including their Special Certificates. The rates are identical and quite good, especially for the promotions.

Tinker Federal Credit Union offers several IRA Certificates with a lower deposit limit. You can open IRA Certificates with terms of 12 months or less for just $500 and that’s all you need to earn the APY. The regular IRA Certificates for longer than 12 months and the 33-month promotion require $1,000. Finally, the 24-month Special IRA Certificate requires a deposit of at least $2,400.

On the regular IRA Certificates, the rates increase as you deposit more before maxing out when you have at least $99,000.

You can only open an IRA Certificate in-person at a Tinker Federal Credit Union full-service branch; these accounts are not available online or over the phone. You must be a member of the Tinker Federal Credit Union before applying, though you can also take care of that while visiting a branch.

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Tinker Federal Credit Union IRA Share Account

This account lets you take money out without an early withdrawal penalty but still pays a respectable rate.
APYMinimum Balance Amount to Earn APY
0.30%
$0.01
  • Minimum opening deposit: You must set up a payroll deduction or automatic transfer for at least $5 per month.
  • Monthly account maintenance fee: None

Besides their IRA Certificates, Tinker Federal Credit Union also offers an IRA Share account. You won’t need to make an initial deposit to open this account, but you will have to set up a payroll deduction or automatic transfer for at least $5 per month.

The IRA Share account does not charge a monthly maintenance fee, regardless of your balance. It also pays interest on all balances and the rate is decent for this type of flexible-access account. Tinker Federal Credit Union does not charge a penalty when you take money out of an IRA Share account. It’s not like a Share Certificate where you commit to a set amount of time.

The IRA Share account is only available at Tinker Federal Credit Union’s full-service branches. There, you can meet with one of Tinker Federal Credit Union’s investment specialists to set up your retirement plan.

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How Tinker Federal Credit Union’s IRA CD rates compare

There’s a lot to like about the Tinker Federal Credit Union retirement plan accounts. They offer a wide range of IRA Certificates which all pay above average rates. We also appreciate that Tinker Federal Credit Union’s generous promotional Certificates can also be used for an IRA. Not every lender includes CD promotions for their retirement plans. Finally, they increase how much you earn when you deposit more; it’s not just one rate for all balances.

However, the fact that you can only open Tinker Federal Credit Union IRA Certificates at a branch could be a drawback. While that could a chance to discuss your options with a retirement specialist, it could also be a headache if you’re ready to go and just want to sign up.

For other high-quality IRA CDs that you can open online, check out this review. These accounts pay rates that are just as good as Tinker Federal Credit Union’s, but you can open them from the comfort of your own home.

Overall review of Tinker Federal Credit Union’s banking products

We’re very impressed with the selection at Tinker Federal Credit union — it’s hard to find a weak point in their banking products. Their Certificates and IRA Certificates all pay top-notch rates that increase as you deposit more.

Tinker Federal Credit Union also pays excellent rates for their checking, savings and money market accounts, and none of these accounts charge a monthly maintenance fee.

If there is a flaw with Tinker Federal Credit, it’s that you’ll need to live in Oklahoma for them to be a really good fit; this makes sense since they are a regional credit union. First, none of their accounts refund ATM fees, so if you ever stray away from a region with Tinker Federal Credit Union branches, it could get expensive. In addition, you’ll need to qualify for membership and most of the ways to do so require living, working or studying in Oklahoma.

If you happen to be near a Tinker Federal Credit Union branch, they could be an excellent choice. Otherwise, they will probably not be an option — that is, unless you feel like moving to Oklahoma.

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