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

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Updated on Tuesday, September 1, 2020

Truliant Federal Credit Union’s checking account options

Truly FREE Checking

This free checking account offers a small amount of interest and few fees.
APYMinimum Balance to Earn APY
0.05%
$0.01
  • Minimum opening deposit: None
  • Monthly account maintenance fee: None
  • ATM fee: $1.00 for each out-of-network transaction, plus any ATM surcharge fees from the ATM’s owner.
  • ATM fee refund: None
  • Overdraft fee: $29 per item. If you link up a backup overdraft account, you’ll only pay $2 per transfer to cover the overdraft.

Truliant Federal Credit Union’s Truly FREE Checking account is its easiest to maintain and cheapest checking account. Even though it’s mostly free (so long as you don’t overdraw your account or use an out-of-network ATM), this account still comes with a full suite of checking account features and more.

For example, you can still use Truliant Federal Credit Union’s online banking and mobile app for free. The account comes with a debit card and you can write an unlimited number of checks. Unlike most free checking accounts, the credit union actually does offer interest payments (albeit a small amount), which is very nice.

Best of all, there’s no monthly maintenance fees or balance requirements.

How to get Truliant Federal Credit Union’s Truly FREE Checking account

If you’re not yet a member of the credit union, you’ll first need to apply for membership. You can do this at a local credit union branch, online or over the phone. You’ll also need to deposit at least $5 in a savings account to kick off your membership.

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Advantage Checking

A subpar interest-bearing account that isn’t worth the high minimum balance to earn dividends.
APYMinimum Balance to Earn APY
0.05%
$2,500
  • Minimum opening deposit: None
  • Monthly account maintenance fee: $7.50. If you keep at least $2,500 in this account or another savings or money market account, this fee will be waived.
  • ATM fee: $1.00 for each out-of-network transaction, plus any ATM surcharge fees from the ATM’s owner.
  • ATM fee refund: None
  • Overdraft fee: $29 per item. If you link up a backup overdraft account, you’ll only pay $2 per transfer to cover the overdraft.

This is Truliant Federal Credit Union’s premium-level checking account, but to be honest, it’s not really all that great. For starters, the account yields the same interest rate as all of its other checking accounts and yet has more hoops to jump through.

You need to maintain a minimum $2,500 balance in either this checking account, a savings account or a money market account in order to waive a monthly $7.50 fee. That’s a high price to pay for a checking account that doesn’t really offer much more.

About the only extra perk you can expect with this account is free basic checks. Normally, you’ll have to pay for ordering more checks, but with this account you get them for free. Is that worth the hassle of avoiding the fee each month? We’ll let you decide.

How to get Truliant Federal Credit Union’s Advantage Checking account

You’ll need to be at least 18 years old and meet the membership criteria in order to open this account at Truliant Federal Credit Union. You can apply for this account in three different ways: online, over the phone or by visiting a local branch. You’ll need to have your employment information, Social Security number, and a driver’s license number handy in order to apply.

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Senior Advantage Checking

This senior-only version of the Advantage Checking account removes the monthly fees.
APYMinimum Balance to Earn APY
0.05%
$0.01
  • Minimum opening deposit: None
  • Monthly account maintenance fee: None
  • ATM fee: $1.00 for each out-of-network transaction, plus any ATM surcharge fees from the ATM’s owner.
  • ATM fee refund: None
  • Overdraft fee: $29 per item. If you link up a backup overdraft account, you’ll only pay $2 per transfer to cover the overdraft.

If you’re a senior age 55 or older, this account might be well worth your time because it’s free, there are no balance requirements like with the normal Advantage Checking account and it comes with free basic checks.

We do have a bit of a problem with this account because it’s currently advertising “higher dividends than Truly Free Checking account.” Which would be great, if it were true. The two accounts are offering the same interest rate as of Nov. 20, 2018.

Still, for a free account, you can’t complain too much.

How to get Truliant Federal Credit Union’s Senior Advantage Checking account

You’ll first need to apply for membership with Truliant Federal Credit Union in order to open an account here. Part of that process entails opening a savings account as well, and funding it with at least $5 to establish your membership. Once complete, you can open this account, too. You can apply for membership and open this account in three different ways: online, at a local credit union branch or over the phone.

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Balance Checking

If you’ve had problems managing your checking account in the past or are still learning, this might be the best account for you to start fresh.
  • Minimum opening deposit: None
  • Monthly account maintenance fee: None
  • ATM fee: $1.00 for each out-of-network transaction, plus any ATM surcharge fees from the ATM’s owner.
  • ATM fee refund: None
  • Overdraft fee: $29 per item. If you link up a backup overdraft account, you’ll only pay $2 per transfer to cover the overdraft.

Many banks and credit unions offer a checking account with a reduced suite of features specifically for people who’ve had a hard time managing checking accounts in the past. What makes Truliant Federal Credit Union’s Balance Checking account unique, however, is that it doesn’t charge any fees. Typically, banks and credit unions will charge a high monthly fee (with no option to waive it) for these types of accounts. That makes this account even more friendly for people looking to get their finances back on track.

There are a few downsides to this account, however. It doesn’t come with a debit card, although you will get an ATM card. This means you can only access your money via check, cash or through online transfers. You also won’t earn interest with this account. If this account doesn’t have all of the features you want (like a debit card), you can apply to have your account upgraded after six months if you’ve managed it well.

How to get Truliant Federal Credit Union’s Balance Checking account

If you’re interested in opening this account, you’ll need to apply for it in person or over the phone. The credit union does not support online applications for this account type.

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How Truliant Federal Credit Union’s checking accounts compare

Truliant Federal Credit Union’s checking accounts are like white bread — a bit bland. Make no mistake, though, they’re generally not bad accounts.

These accounts do offer interest payments, but as we’ve seen, they’re all quite low and they’re all the same rates. It’s possible that the credit union will get its act together and start offering better rates on its Advantage Checking and Senior Advantage Checking accounts like it says it does.

But right now, these accounts are all offering a very low interest rate. You can find much better rates with one of these checking accounts instead.

Truliant Federal Credit Union’s savings account options

Membership/Regular Savings

Truliant Federal Credit Union allows you to open multiple savings accounts to separate each of your savings goals.
APYMinimum Balance to Earn APY
0.10%
$0.01-$999.99
0.10%
$1,000-$9,999.99
0.10%
$10,000-$24,999.99
0.10%
$25,000-$99,999.99
0.10%
$100,000+
  • Minimum opening deposit: $5 for Membership savings, none required for Regular Savings
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: None
  • ATM fee: $1.00 for each out-of-network transaction, plus any ATM surcharge fees from the ATM’s owner.
  • ATM fee refund: None
  • Overdraft fee: $29 per item. If you link up a backup overdraft account, you’ll only pay $2 per transfer to cover the overdraft.

Everyone needs to open a Membership Savings account with at least $5 in order to qualify for membership. If one savings account isn’t enough for you, Truliant Federal Credit Union allows you to open as many Regular Savings accounts as you want.

These Regular Savings accounts follow all of the same rules and offer the same interest rates as the Membership Savings account, but they don’t count toward your membership requirements. Still, these accounts are handy for separating your savings goals, such as a vacation, a new car or a trumpet for your kid’s band class.

Like all banks and credit unions, you’re limited to making up to six certain debits per month (not including ATM and in-person withdrawals at a branch). These rules are set in place by federal Regulation D, so there’s no getting around them. However, to make things a bit stickier, Truliant Federal Credit Union has its own set of withdrawal limitations: you can only make three withdrawals per month in person. If you make any more than that, you’ll have to pay a $10 per-withdrawal penalty.

How to get Truliant Federal Credit Union’s Membership/Regular Savings accounts

You’ll need to open a Membership Savings account in order to join the credit union. Once open, you can add as many savings accounts as you like. To get started, you can apply for these accounts online, in person or over the phone.

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Rainy Day Savings

This savings account has a neat automatic way to save, but you’ll need to supplement it if you want to save more than a pittance.
APYMinimum Balance to Earn APY
0.15%
$0.01
  • Minimum opening deposit: None
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: None
  • ATM fee: $1.00 for each out-of-network transaction, plus any ATM surcharge fees from the ATM’s owner.
  • ATM fee refund: None
  • Overdraft fee: $29 per item. If you link up a backup overdraft account, you’ll only pay $2 per transfer to cover the overdraft.

The idea behind the Rainy Day Savings account (which you can rename to whatever you want) is neat. At the end of each business day, the credit union will round down whatever amount you have in a linked checking account and transfer the change over to this account. For example, if you have $2,000.75 in your checking account, the credit union will transfer over $0.75 to your Rainy Day Savings account, leaving an even $2,000 in your checking account.

It sounds like a cool way to save (and it is). But realistically, this probably won’t get you very far on its own, and here’s why. Let’s say your average daily transfer is $0.50. If that happens each business day (about five per week, for 52 weeks), you’d only have $130 saved up at the end of the year. And that’s only if you buy something or make some kind of transaction every single business day to give your checking account an odd balance. Most people, by contrast, don’t make a purchase every single day.

Still, it’s not a bad way to supplement your savings — we just wouldn’t suggest relying on it as your sole savings mechanism. You can, in fact, make as many deposits into the account on your own as you want. However, you’ll only be allowed to make one withdrawal per quarter. Each withdrawal thereafter will cost you $10.

How to get Truliant Federal Credit Union’s Rainy Day Savings account

If you’re over age 18 and a U.S. citizen or permanent resident, you can apply for an account online. Alternatively, you can apply for an account at a local branch or over the phone. You’ll need a driver’s license number and a Social Security number, and be able to fund a Membership Savings account with at least $5 before you can open this account.

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Save Your Way

This account has you set up daily automatic transfers as means to force yourself to save.
APYMinimum Balance to Earn APY
0.15%
$0.01
  • Minimum opening deposit: None
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: None
  • ATM fee: $1.00 for each out-of-network transaction, plus any ATM surcharge fees from the ATM’s owner.
  • ATM fee refund: None
  • Overdraft fee: $29 per item. If you link up a backup overdraft account, you’ll only pay $2 per transfer to cover the overdraft.

If you’re ready to take the plunge and hold your feet to the fire a bit more, you can adopt a more heavy-handed savings approach with this account. You’ll need to set up daily automatic transfers — that’s right, daily — of at least $1.99. The maximum you can sign up to transfer over daily is $20 (that’s quite a lot). These transfers will only take place on business days, however. You can also transfer over extra deposits at any time.

Unlike with many of Truliant Federal Credit Union’s other savings accounts, you can only make one single withdrawal each quarter. This helps to keep your hand out of the cookie jar, so to speak. If you need to make more withdrawals you are allowed to do so, but it’ll cost you an extra $10 penalty.

How to get Truliant Federal Credit Union’s Save Your Way account

You’ll need to sign up to be a credit union member (assuming you are eligible to apply). You can apply for an account online, over the phone or in person at a local Truliant Federal Credit Union branch.

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Holiday and Vacation Club

These accounts let you save up for specific events but don’t offer much interest.
APYMinimum Balance to Earn APY
0.10%
$0.01
  • Minimum opening deposit: None
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: None
  • ATM fee: $1.00 for each out-of-network transaction, plus any ATM surcharge fees from the ATM’s owner.
  • ATM fee refund: None
  • Overdraft fee: $29 per item. If you link up a backup overdraft account, you’ll only pay $2 per transfer to cover the overdraft.

Holidays and vacations are some of the most common sources of consumer debt, but it doesn’t have to be that way. These accounts can help you save for these pricey events.

Unfortunately, these accounts don’t exactly offer you an incentive to save besides the nice feeling of a debt-free holiday or vacation. The interest rate offered on these accounts are lower than for some of the credit union’s other savings accounts. There’s also no requirement for you to make a regular automatic deposit like with some accounts. Rather, it’s entirely on you to make sure you actually are saving money regularly into the account.

The way you get money out of the account varies. If it’s a Holiday Club account, the money will be automatically transferred to your savings or checking account on Nov. 1 of each year, just in time for the holidays. You’re not allowed to make any withdrawals except for this one, and if you do, you’ll be slapped with a $10 per-withdrawal penalty. For the Vacation Club account, you’re also not allowed to make more than one withdrawal per quarter (each extra withdrawal will cost you $10). Ideally, these penalties limit you from withdrawing the money for other purposes like Amazon Prime Day (no, you don’t need all that extra stuff).

How to get Truliant Federal Credit Union’s Holiday and Vacation Club accounts

If you’re already a member, you can easily add this to your existing account. If not, you’ll first need to apply for membership at a local branch, online (you’ll need to be at least 18) or over the phone. You’ll need to deposit at least $5 in a Membership Savings account to establish your membership.

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Youth Savings

This account offers special educational materials for kids, but not much else.
  • Minimum opening deposit: $5
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: None
  • ATM fee: $1.00 for each out-of-network transaction, plus any ATM surcharge fees from the ATM’s owner.
  • ATM fee refund: None
  • Overdraft fee: $29 per item. If you link up a backup overdraft account, you’ll only pay $2 per transfer to cover the overdraft.

There’s no better time than now to help children and teens learn about saving, and that’s why these accounts are here. These accounts are basically the same as Truliant Federal Credit Union’s regular Membership Savings account that comes with everyone’s account. What makes the youth accounts unique is that they come with age-appropriate financial education. These are split up into three different programs, depending on your kid’s age:

  • The Dollar Dog Kids’ club offers special events at the credit union, as well as an educational website with games and learning activities designed for kids 12 and under
  • The Cha-Ching educational website is for young teens 13 and older
  • The Edge educational website is designed for “older teens”

You’ll need to open this account as a joint owner with your child. Once they turn 18, they’ll have full control of the account and they can choose to keep you as a joint owner or not.

Children and teens can make up to six certain debits per month from this account due to the rules set by federal Regulation D. ATM and in-person withdrawals don’t count toward this limit, however, Truliant Federal Credit Union has its own in-house withdrawal limit. You can’t make more than three withdrawals per month at a counter. If you make more than that, you’ll pay a $10 per-withdrawal penalty.

How to get Truliant Federal Credit Union’s Youth Savings accounts

Opening a Youth Savings account works a little bit differently from Truliant Federal Credit Union’s other accounts. You cannot open an account online. Instead, you can print out an application form (or just snag a copy from the credit union itself) and bring it and your child to a local branch. You can also open an account over the phone. Remember to bring your child’s Social Security card; it serves as their form of ID since they’re probably not yet old enough to get a driver’s license.

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How Truliant Federal Credit Union’s savings accounts compare

Truliant Federal Credit Union offers many different types of savings accounts with special features to help you save. That’s great, and we appreciate this fact. Anything that credit unions can do to help you save is a pro in our book.

Unfortunately, where the credit union doesn’t help you save is with its interest rates. The interest rates offered on each and every one of these savings accounts is very low. These rates aren’t rock bottom — see a megabank for that — but it’s not that far off.

Instead, you can find much, much better interest rates with one of these online savings accounts. These accounts are general-purpose savings accounts with no special features like Truliant Federal Credit Union offers, but with some legwork, we’re sure it’s possible to find fancier, higher-yielding savings accounts too.

Truliant Federal Credit Union CD rates

Regular Certificates

You can choose from a lot of different options, but none of them offer particularly stellar rates.
TermAPYMin. Balance to Earn APY
3 months0.05%
$250
3 months0.10%
$5,000
3 months0.15%
$25,000
3 months0.20%
$100,000
6 months0.20%
$250
6 months0.25%
$5,000
6 months0.30%
$25,000
6 months0.35%
$100,000
12 months0.45%
$250
12 months0.50%
$5,000
12 months0.55%
$25,000
12 months0.60%
$100,000
14 months0.40%
$250
14 months0.45%
$5,000
14 months0.50%
$25,000
14 months0.55%
$100,000
18 months0.50%
$250
18 months0.55%
$5,000
18 months0.60%
$25,000
18 months0.65%
$100,000
24 months0.55%
$250
24 months0.60%
$5,000
24 months0.65%
$25,000
24 months0.70%
$100,000
36 months0.60%
$250
36 months0.65%
$5,000
36 months0.70%
$25,000
36 months0.75%
$100,000
48 months0.70%
$250
48 months0.75%
$5,000
48 months0.80%
$25,000
48 months0.85%
$100,000
60 months0.75%
$250
60 months0.80%
$5,000
60 months0.85%
$25,000
60 months0.90%
$100,000
  • Minimum opening deposit: Varies; see the chart above.
  • Minimum balance amount to earn APY: You can’t drop the balance on your CD below the minimum opening deposit of whichever CD you chose. If you do so, the CD will be closed.
  • Early withdrawal penalty: This depends on your CD’s term length:
    • For CDs up to 12 months, you’ll pay 90 days’ worth of interest
    • For CDs between 12 months to 48 months, you’ll pay 180 days’ worth of interest
    • For CDs 48 months and greater, you’ll pay 365 days’ worth of interest

Depending on how much money you have to deposit, you can open any number of different CDs at Truliant Federal Credit Union. Most CDs at other banks and credit unions offer only one interest rate per term length, with the option of opening “jumbo CDs” if you have a larger deposit amount. Truliant Federal Credit Union took a bit of a different approach, however: they’re all just called Regular CDs, and there are four different tier levels for each term length.

Although each of these CDs are Regular CDs, Truliant Federal Credit Union offers a special perk with its 14 month CDs (oddly enough). With this CD term in particular, you can make one penalty-free withdrawal after the CD’s been open for at least 60 days. Before that, you’ll have to pay an early withdrawal fee like the rest of us plebes. An odd feature, we know.

When these CDs mature, they will automatically renew for another term length. If you want to access your money or deposit more, you’ll need to make these changes during a short seven-day grace period after the CD renews.

How to get Truliant Federal Credit Union’s Regular CDs

You’ll need to apply for membership with the credit union before you can open a Regular CD. To do this, you’ll need to log online and complete an application, or do it over the phone or at a local branch. You’ll need to open a Membership Savings account and fund it with at least $5 to get your membership started. You’ll also need to have a few things on file like your Social Security number and driver’s license number.

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Flex Certificates

These CDs let you add money at any time, and boost your rate once per term.
TermAPYMin. Balance to Earn APY
24 months0.45%
$250
24 months0.50%
$5,000
24 months0.55%
$25,000
24 months0.60%
$100,000
37 month limited-time offer3.05%
$1,000
  • Minimum opening deposit: Varies; see chart above
  • Minimum balance amount to earn APY: You can’t drop the balance on your CD below the minimum opening deposit of whichever CD you chose. If you do so, the CD will be closed.
  • Early withdrawal penalty: 180 days’ worth of interest

If locking your money away without any control at all over it sounds a bit too intimidating, then these might be better CDs for you. They’re similar to so-called “Bump Up CDs” available at other banks because if interest rates head upward after you open the CD, you can opt for a one-time rate increase. This increase is limited to an extra 1.00% APY.

Another nice feature of these CDs is that you can add money at any time to the CD. That’s super helpful if you just have the minimum amount to get started, but want to take advantage of the higher rates by adding more money later as you earn it.

The only downside is that you do pay a price for these handy features in the form of a lower interest rate to start, compared with the Regular CDs. It would be wise to compare the rates of the Regular CDs with these Flex CDs before you open an account to see if you’re willing to accept these lower rates from the start, or if you fear rising interest rates that you think you’ll use the rate-bump option.

When these CDs mature, they will automatically renew for another term length. You will get a short seven-day grace period to withdraw your money penalty-free after your CD matures, however.

How to get Truliant Federal Credit Union’s Flex CDs

You can get these CDs by establishing membership with Truliant Federal Credit Union and applying for an account. You’ll need to meet the membership criteria, and provide a Social Security number, driver’s license number and a way to fund your new CD. You can do this online, over the phone or at a local Truliant Federal Credit Union branch.

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Dollar Dog Certificate

These CDs are specially designed for kids, but adults can use them, too.
TermAPYMin. Balance to Earn APY
24 months1.65%
$100
24 months1.70%
$5,000
24 months1.76%
$25,000
24 months1.81%
$100,000
  • Minimum opening deposit: Varies; see chart above
  • Minimum balance amount to earn APY: You can’t drop the balance on your CD below the minimum opening deposit of whichever CD you chose. If you do so, the CD will be closed.
  • Early withdrawal penalty: 180 days’ worth of interest

It’s hard to teach kids about CDs due to the long nature of their investment periods and kids’ short attention spans. This CD doesn’t really do much to solve that because it still requires a two-year commitment period, but it could be worse: at least these aren’t 60 month CDs.

Instead, the way that Truliant Federal Credit Union makes these CDs more accessible to kids is by lowering the minimum deposit requirement to just $100. You can add deposits at any time, as long as they’re at least $5 or more.

Despite the childish-sounding name, these CDs are also available to adults. Which is a little confusing, because these 24 month Dollar Dog CDs are currently offering a better rate than the normal 24 month Flex CDs, and there’s essentially no difference between them. So, why choose the Flex CDs when you can earn a higher rate with these CDs, instead?

Like all of Truliant Federal Credit Union’s CDs, you’ll get a brief seven-day grace period to withdraw the money after the CDs mature and auto-renew.

How to get Truliant Federal Credit Union’s Dollar Dog CDs

You can apply for membership with the credit union and open these CDs through one of three different routes. You can do it online, over the phone or at a Truliant Federal Credit Union branch. You’ll need to open up a Membership Savings account with at least $5 to join.

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How Truliant Federal Credit Union’s CDs compare

The rates that Truliant Federal Credit Union offers on its CDs aren’t bad. Still, they’re a far cry from being the top CD rates offered.

We do like that the credit union offers a range of CD products so that essentially anyone can use CDs if they wish. In particular, the Dollar Dog CDs that allow you to start with just a $100 deposit, which is much smaller than most banks or credit unions require. In addition, you can also deposit more money into the account over time, making this a very useful CD indeed. Our only complaint is that it doesn’t offer a higher interest rate.

Truliant Federal Credit Union’s money market account options

Select Money Market

This account doesn’t offer much extra besides the ability to write checks.
APYMinimum Balance to Earn APY
0.05%
$0.01
0.20%
$1,000
0.25%
$25,000
0.30%
$100,000
  • Minimum opening deposit: $1,000
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $10, but only if your account balance drops below $1,000
  • ATM fee: $1.00 for each out-of-network transaction, plus any ATM surcharge fees from the ATM’s owner.
  • ATM fee refund: None
  • Overdraft fee: $29 per item. If you link up a backup overdraft account, you’ll only pay $2 per transfer to cover the overdraft.

Money Market accounts often offer higher interest rates than with a savings account. That’s one of the points of opening these accounts — to earn a higher interest rate. This account, however, is offering roughly the same interest rate as with the Regular Savings accounts, meaning there’s no real financial incentive to open this account instead.

You can, however, write checks from this account which is the main advantage. Still, since it’s a money market account, you can only make six debits per month. ATM withdrawals don’t count toward this limit. Truliant Federal Credit Union also limits you further to just three withdrawals by check per month with this account.

How to get Truliant Federal Credit Union’s Select Money Market account

You’ll need to meet the membership requirements, be at least 18 years old and a U.S. citizen or permanent resident in order to open this account online. You can also open this account at a local branch or over the phone. You’ll need to provide some details like your Social Security number, driver’s license number and employment information. Finally, you’ll also need to open a Membership Savings account with at least $5 in order to join the credit union.

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Select Plus Money Market

This account doesn’t offer a bad rate, but the catch is you’ll need to be Rich Uncle Pennybags in order to take advantage of it.
APYMinimum Balance to Earn APY
0.15%
$0.01
1.15%
$100,000
  • Minimum opening deposit: $100,000
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $15, but only if your account balance falls below $100,000
  • ATM fee: $1.00 for each out-of-network transaction, plus any ATM surcharge fees from the ATM’s owner.
  • ATM fee refund: None
  • Overdraft fee: $29 per item. If you link up a backup overdraft account, you’ll only pay $2 per transfer to cover the overdraft.

If you’ve got big pockets and you’re not sure what to do with the funds, Truliant Federal Credit Union is offering a special rate on balances $100,000 and over with this account. You’ll need at least that much to open the account, and we suggest leaving that initial deposit in there anyway because you’ll pay a $15 monthly fee if the balance drops below this level.

That’s very inconvenient because it essentially means you need to tie up $100,000 from your net worth, or face financial consequences. That’s not chump change, and you might need that money at some point in the future. It’s similar to how your money is locked away with a CD, except you’ll never be able to drop the balance down to zero and get away with it scot-free.

You can make a few more withdrawals per month with this account. You can write up to six checks, or make six other transfers per month. ATM withdrawals don’t count toward this limit.

How to get Truliant Federal Credit Union’s Select Money Market account

If you’ve got the deposit to prove you can open this account, you can apply for it online, over the phone or in person. First, however, you’ll need to check that you are eligible for credit union membership. If you are, you can establish membership by depositing at least $5 in a Membership Savings account (a mere pittance compared with the deposit requirements of this account).

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on Truliant Federal Credit Union’s secure website

NCUA Insured

Investors Money Market

You can only open this account if you work with Truliant Federal Credit Union’s financial advisory firm.
APYMinimum Balance to Earn APY
0.05%
$0.01
0.15%
$10,000
0.20%
$25,000
0.25%
$50,000
0.30%
$100,000
  • Minimum opening deposit: $10,000
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $20, but only if your account balance falls below $10,000
  • ATM fee: $1.00 for each out-of-network transaction, plus any ATM surcharge fees from the ATM’s owner.
  • ATM fee refund: None
  • Overdraft fee: $29 per item. If you link up a backup overdraft account, you’ll only pay $2 per transfer to cover the overdraft.

If you’re already working with the Truliant Federal Credit Union’s financial advisory firm, you can open this account. Since it’s restricted to certain members, you’d think that it offers better interest rates — but the rates are only marginally better. Besides, if you’ve got a very large ($100,000+) deposit, you can get better rates with the Select Plus Money Market account instead. Why bother with this account in the first place?

Another strike against this account is that it comes with the highest monthly fee of all of Truliant Federal Credit Union’s accounts. A $20 monthly fee is no joke, and committing to keeping $10,000 in the account won’t be easy if emergencies or other unexpected expenses come up.

But hey — you do get free checks with this account. Still, you can only make six debits per month (including by check). ATM and in-person withdrawals don’t count toward this limit.

How to get Truliant Federal Credit Union’s Investor’s Money Market account

If you’re working with Truliant Financial Advisors, you are eligible to open this account. You can open it online, at a local branch or over the phone.

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on Truliant Federal Credit Union’s secure website

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How Truliant Federal Credit Union’s money market accounts compare

We’ll save you some time: Go elsewhere for your money market account needs. The rates that Truliant Federal Credit Union offers are simply too low compared with its top money market account competitors.

The only rates worth a second peek are with the credit union’s Select Plus Money Market account, and even then, you’ll need to keep at least $100,000 in the account to take advantage of these rates. You can earn better rates than this with a fraction of the deposit size at other banks and credit unions, and that’s why we recommend you look elsewhere.

Truliant Federal Credit Union’s IRA account options

IRA CD rates

These IRA CDs offer the highest rates on any of Truliant Federal Credit Union’s IRA products — but they’re still not that great.
TermAPYMin. Balance to Earn APY
6 months0.20%
$250
6 months0.25%
$5,000
6 months0.30%
$25,000
6 months0.35%
$100,000
12 months0.45%
$250
12 months0.50%
$5,000
12 months0.55%
$25,000
12 months0.60%
$100,000
14 months0.40%
$250
14 months0.45%
$5,000
14 months0.50%
$25,000
14 months0.55%
$100,000
18 months0.50%
$250
18 months0.55%
$5,000
18 months0.60%
$25,000
18 months0.65%
$100,000
24 months0.55%
$250
24 months 0.60%
$5,000
24 months0.65%
$25,000
24 months0.70%
$100,000
36 months0.60%
$250
36 months0.65%
$5,000
36 months0.70%
$25,000
36 months0.75%
$100,000
48 months0.70%
$250
48 months0.75%
$5,000
48 months0.80%
$25,000
48 months0.85%
$100,000
60 months0.75%
$250
60 months0.80%
$5,000
60 months0.85%
$25,000
60 months0.90%
$100,000
  • Minimum opening deposit: Varies; see the chart above.
  • Minimum balance amount to earn APY: You can’t drop the balance on your IRA CD below the minimum opening deposit of whichever IRA CD you chose. If you do so, the IRA CD will be closed.
  • Early withdrawal penalty: This depends on your IRA CD’s term length:
    • For CDs up to 12 months, you’ll pay 90 days’ worth of interest
    • For CDs between 12 months to 48 months, you’ll pay 180 days’ worth of interest
    • For CDs 48 months and greater, you’ll pay 365 days’ worth of interest

IRA CDs can be a great way to earn the highest interest rates on your retirement savings within an NCUA-insured environment. The nice thing about these IRA CDs in particular is that there are three different options for IRAs: you can open these IRA CDs within a Roth, traditional or even a SEP IRA. Most banks and credit unions only offer the first two options.

Another nice thing with these IRA CDs is that there are multiple tiers for each term length, meaning that bigger deposit amounts are rewarded with higher interest rates. For many people, the biggest chunk of their wealth is held up in retirement savings (or hopefully is, at least), so you may be more likely to qualify for higher rates with your retirement savings than with your non-retirement savings.

When these CDs mature, they will automatically renew for another term length, making this a handy way to auto-save for your retirement. After each auto-renewal you will get a seven-day grace period to add more money, change the term length, roll over those funds to a different IRA product or withdraw.

How to get Truliant Federal Credit Union’s IRA CDs

You can open one of these IRA CDs by visiting a local credit union branch, calling them up or completing an account application online. You will first need to become a member of the credit union if you aren’t already.

SEE DETAILS Secured

on Truliant Federal Credit Union’s secure website

NCUA Insured

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How Truliant Federal Credit Union’s IRA CD rates compare

Truliant Federal Credit Union doesn’t offer horrible interest rates on its IRA CDs. Still, you can earn much better interest rates with one of these top-yielding IRA CDs instead.

One of the biggest factors leading to a happy retirement is saving enough money in the first place. If you’ve got that part down and are saving enough, the second-biggest thing you can do is to make sure your savings are earning the highest interest rates. This will take your retirement savings from good to great, and because Truliant Federal Credit Union doesn’t offer optimal IRA CD rates, we can’t wholeheartedly recommend them.

IRA Savings

This account is based off of the Regular Savings account, but just in an IRA form.
APYMinimum Balance to Earn APY
0.10%
$0.01
0.10%
$1,000
0.10%
$10,000
0.10%
$25,000
0.10%
$100,000
  • Minimum opening deposit: None
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: None
  • Overdraft fee: $29 per item. If you link up a backup overdraft account, you’ll only pay $2 per transfer to cover the overdraft.

If you think you might be moving your money sooner than later and don’t want to commit to an IRA CD, an IRA Savings account might be a good option for you.

This account allows you to make deposits and withdrawals at any time, although you may have to pay IRS penalties if you take the money out as cash too early. You can roll over the IRA funds to a new (and higher-earning?) account as you wish, however. This account does not come with ATM access.

Truliant Federal Credit Union offers three different IRAs: traditional, Roth and SEP IRAs. You’ll choose one of these formats when you open your account. Each one has different tax benefits, so it’s a good idea to do some research and/or talk with your tax advisor before choosing one.

How to get Truliant Federal Credit Union’s IRA Savings account

You can open one of these accounts by visiting a local Truliant Federal Credit Union branch. You can also apply for an account online or over the phone if you prefer. Before you can open an account you’ll need to apply for membership. Membership isn’t open to just anyone, so it’s a good idea to check if you meet the criteria before you apply (see more information in the intro section at the top of this article).

SEE DETAILS Secured

on Truliant Federal Credit Union’s secure website

NCUA Insured

IRA Select Money Market account

We’d recommend this account instead to hold your liquid retirement savings, since it offers a higher interest rate.
APYMinimum Balance to Earn APY
0.05%
$0.01
0.20%
$1,000
0.25%
$25,000
0.30%
$100,000
  • Minimum opening deposit: $5,000
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $25, but only if your account balance drops below $5,000
  • Overdraft fee: $29 per item. If you link up a backup overdraft account, you’ll only pay $2 per transfer to cover the overdraft.

This account has a steeper opening deposit requirement than the IRA Savings account: you’ll need at least $5,000. But if you can swing it, you can earn slightly better rates with this account instead.

Aside from the name, there’s not any real functional difference between the IRA Savings and the IRA Select Money Market account. Both accounts let you deposit money and withdraw it at will (remembering, of course, the IRS penalties if you withdraw it in cash too early). Truliant Federal Credit Union allows you to open both accounts as either a Roth, traditional or SEP IRA.

How to get Truliant Federal Credit Union’s IRA Select Money Market account

If you’re interested in opening this account, Truliant Federal Credit Union offers you three options. You can open an account online, over the phone or at a branch location. You will need to become a member of the credit union to open an account here. This means you’ll need to meet eligibility requirements as well as open a Membership Savings account with at least $5.

SEE DETAILS Secured

on Truliant Federal Credit Union’s secure website

NCUA Insured

Overall review of Truliant Federal Credit Union’s banking products

Despite Truliant Federal Credit Union’s trailblazing reputation as a champion for the little people in courts, we find that its deposit accounts tell a slightly different story.

Almost all of its accounts offer poor interest rates compared with the best accounts on the market today. Even where it tries to do good — such as offering educational materials with the kids’ savings account — it seems to fall a bit short. In the kids’ savings account case, it’s nice that they offer educational materials, but what kid is really that pumped up about learning about money? More likely, the account will sit dormant without any special incentives or perks to peak kids’ and teens’ interest.

Most of Truliant Federal Credit Union’s accounts follow a similar vein. Its heart is in the right place, but it just doesn’t offer enough. For another example, look at its Holiday Club savings accounts. It’s great that the credit union offers a special account just for this purpose, but without any extra incentive or requirement to save, many people’s accounts are likely to sit dormant.

If you’re looking to bank with a local credit union and Truliant just happens to be near you, it’s not a bad institution to work with. But why settle for less, especially when a whole world of better accounts awaits you, especially if you head online? That’s why we suggest skipping Truliant Federal Credit Union for an account that better fits your needs.

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