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

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Updated on Wednesday, July 1, 2020

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
0.05%
$1,000
0.10%
$5,000
0.15%
$10,000
0.15%
$25,000
0.15%
$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
0.05%
$100
0.05%
$5,000.01
0.05%
$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
0.05%
$100
0.05%
$5,000.01
0.05%
$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
0.50%
$5006 months
1.00%
$50012 months
1.10%
$50024 months
1.15%
$500 36 months
1.25%
$50048 months
1.35%
$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
1.10%
$10,00012 months
1.20%
$10,00024 months
1.25%
$10,000 36 months
1.35%
$10,00048 months
1.45%
$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
1.60%
$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
0.10%
$0.01
0.15%
$7,500
0.15%
$25,000
0.15%
$50,000
0.20%
$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
0.20%
$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
0.25%
$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
0.30%
$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
0.35%
$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
1.00%
$50012 months
1.10%
$50024 months
1.15%
$500 36 months
1.25%
$50048 months
1.35%
$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
1.60%
$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.
APY Minimum Balance to Earn APYTerm
1.10%
$10,00012 months
1.20%
$10,00024 months
1.25%
$10,000 36 months
1.35%
$10,00048 months
1.45%
$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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