UNIFY Financial Credit Union Reviews: Checking, Savings, CD, Money Market, and IRA Accounts

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Updated on Sunday, November 1, 2020

UNIFY Financial Credit Union’s checking account options

eChecking

A dividend-bearing checking account with ATM fee refunds.
APYMinimum Balance to Earn APY
0.03%
$1,000
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: $20 per month if you do not log into eBanking once per month, do not make at least eight transactions each month and are not enrolled in eStatements.
  • ATM fee: $1 if you use a non-CO-OP ATM
  • ATM fee refund: 100% of fees from other financial institutions or ATM owners refunded monthly
  • Overdraft fee: $30

UNIFY Financial Credit Union’s eChecking account offers dividend-earning potential, though the APY is quite low when compared to the competition, especially when you take into account minimum balance requirements. This is also the credit union’s only account that offers outside ATM fee refunds. It is important to note that the fees UNIFY Financial Credit Union charges you will not be refunded; it is only fees charged by other financial institutions and ATM owners that will make their way back into your account at the end of the month.

You do not have to pay a monthly fee if you meet all the account requirements. You’ll have to make sure you’re signed up for eStatements, ensure you log in to eBanking once per month, and you’ll need to make eight transactions each month. If you do not meet every single one of these conditions, you will be charged a fairly steep monthly maintenance fee.

How to get UNIFY Financial Credit Union’s eChecking account

You can sign up for your eChecking Account online.

SEE DETAILS Secured

on UNIFY Financial Credit Union’s secure website

NCUA Insured

Premier Checking

Free checks in exchange for double the minimum balance requirement.
APYMinimum Balance to Earn APY
0.03%
$2,000
  • Minimum opening deposit: $2,000
  • Monthly account maintenance fee: $5 if your balance falls below $2,000
  • ATM fee: $1 if you use a non-CO-OP ATM
  • ATM fee refund: None
  • Overdraft fee: $30

Premier Checking is quite similar to eChecking, save for three major differences. The first is that this is UNIFY Financial Credit Union’s only account that provides paper checks free of charge. In exchange for that service, you will earn the same APY but with double the minimum balance requirement. If you fall below that higher balance, you will be charged a monthly maintenance fee, which is admittedly lower than that of the eChecking Account. You also won’t have to face mandatory transaction requirements or electronic service requirements.

This account is only likely to be a benefit if you consistently keep a relatively high balance in your checking account. It’s not for you if you routinely live paycheck-to-paycheck.

How to get UNIFY Financial Credit Union’s Premier Checking account

You can open an account by visiting your local branch or completing the process online.

SEE DETAILS Secured

on UNIFY Financial Credit Union’s secure website

NCUA Insured

Free Checking

A no-frills checking account with no monthly maintenance fee, but also no interest.
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: None
  • ATM fee: $1 if you use a non-CO-OP ATM
  • ATM fee refund: None
  • Overdraft fee: $30

UNIFY Financial Credit Union’s Free Checking account comes with no monthly maintenance fees. However, the tradeoff is that it also earns zero dividends. This account is going to be best for those who don’t want to worry about meeting certain deposit or minimum balance requirements in order to avoid monthly maintenance fees, but they can also expect absolutely no rewards in the form of APY.

While you will be able to use an ATM card and checks with this account, you will have to pay extra for those paper checks. You won’t have to pay extra fees to use them; you’ll just have to pay to get them printed.

How to get UNIFY Financial Credit Union’s Free Checking account

If there is a branch near you, you can go in to open a Free Checking account. However, you can also easily do so online.

SEE DETAILS Secured

on UNIFY Financial Credit Union’s secure website

Right Start Checking

A checking account to help you rebuild your banking history.
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: None
  • ATM fee: $1 if you use a non-CO-OP ATM
  • ATM fee refund: None
  • Overdraft fee: $30

The Right Start Checking option is nearly identical to the Free Checking account. You won’t earn any interest, you won’t pay monthly maintenance fees and you will have to pay for paper checks to be printed.

However, Right Start Checking is geared specifically toward those who may have a troubled banking history. If you have a bad history of overdrafts or other negative actions with other financial institutions, you may have ended up in the CHEXSystem and tagged as a risk. When this happens, you essentially end up blacklisted with many financial institutions, which pushes you out of the traditional banking system.

UNIFY Financial Credit Union wants to give those who find themselves in this predicament a second chance. It does this through the Right Start Checking account. Bear in mind that this account does cap your overdraft capabilities at -$250, which is probably a good thing. You don’t want to owe anyone money — especially not your financial institution. By capping your overdraft, the credit union is really just protecting you.

How to get UNIFY Financial Credit Union’s Right Start Checking account

You can either open this account online or at a local branch.

SEE DETAILS Secured

on UNIFY Financial Credit Union’s secure website

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How UNIFY Financial Credit Union’s checking accounts compare

If you’re looking at APY and minimum balance requirements alone, UNIFY Financial Credit Union’s checking accounts don’t even begin to compare with the best checking accounts on the market. On the “Best” list, even the account with the lowest APY is still twice the yield offered by UNIFY Financial Credit Union, and it comes with zero minimum balance requirements, which is quite the contrast to this credit union’s requirements.

The one account UNIFY Financial Credit Union has that may be worth opening is Right Start Checking. Yes, it yields no dividends, and no, ATM fees won’t be refunded to you at the end of the month. But if you’re flagged in the CHEXSystem, Right Start Checking can help you get your foot back in the door so you will actually be able to consider signing up for one of the better accounts further down the road.

UNIFY Financial Credit Union’s savings account options

Regular Savings account

Lackluster APY and fees may leave you wanting the credit union’s other savings accounts.
APYMinimum Balance to Earn APY
0.03%
$200
  • Minimum opening deposit: $5
  • Minimum balance to earn APY: $200
  • Monthly account maintenance fee: $1 per month you do not meet the $200 minimum balance requirement
  • ATM fee: $1 if you use a non-CO-OP ATM
  • ATM fee refund: None
  • Overdraft fee: $30

UNIFY Financial Credit Union’s first savings account is not its best. The Regular Savings account offers the same APY as all the others from this financial institution, a rate that is well below that of its competitors. In addition, the minimum balance requirement to earn that APY, and the associated fee should you fall below that minimum, make this account doubly unattractive. Another fee to consider is a $1 monthly charge you’ll incur should you not elect to receive your statements electronically.

Savings accounts regulated by the federal government fall under Federal Reserve Regulation D which mandates that you make up to six certain withdrawals per month from any given savings account. If you go over the six-transaction limit, your account could be closed or converted into a checking account. This rule applies to all savings accounts at the credit union..

How to get UNIFY Financial Credit Union’s Regular Savings account

You can either open this account online or at a local branch.

SEE DETAILS Secured

on UNIFY Financial Credit Union’s secure website

NCUA Insured

eSavings

Same APY as Regular Savings, but with no minimum balance requirements or fees.
APYMinimum Balance to Earn APY
0.03%
None
  • Minimum opening deposit: $5
  • Minimum balance to earn APY: None
  • Monthly account maintenance fee: None
  • ATM fee: $1 if you use a non-CO-OP ATM
  • ATM fee refund: None
  • Overdraft fee: $30

If you’re considering a savings account at UNIFY Financial Credit Union, eSavings is a far better choice than Regular Savings. You won’t have to maintain a minimum balance to earn your APY and, as a result, you won’t be hit with fees for not meeting a minimum balance. It’s essentially the same account, just cheaper.

However, with this account you will be hit with a $1 monthly fee if you don’t enroll to receive eStatements exclusively — just like you would with Regular Savings.

How to get UNIFY Financial Credit Union’s eSavings account

Sign up for eSavings online.

SEE DETAILS Secured

on UNIFY Financial Credit Union’s secure website

NCUA Insured

Special Savings

A low-cost account to save for specific goals, though it pays you a low APY.
APYMinimum Balance to Earn APY
0.03%
None
  • Minimum opening deposit: $5
  • Minimum balance to earn APY: None
  • Monthly account maintenance fee: None
  • ATM fee: $1 if you use a non-CO-OP ATM
  • ATM fee refund: None
  • Overdraft fee: $30

If you’re saving for vacation, a down payment, a car or any other specific savings goal, UNIFY Financial Credit Union has built its Special Savings account for you. The lowest-fee savings account it provides, this account comes with no minimum balance requirements, no monthly fees and no additional fees should you not opt into eStatements.

While this account is low-fee and can give you a specific place to set aside money for singular savings goals, you can do the same thing with any savings account. There are better options on the market when you take this account’s low APY into consideration, so be sure to shop around at different financial institutions before making the definitive decision on where to stash your money.

How to get UNIFY Financial Credit Union’s Special Savings account

You can open this account online or at a local branch — whichever is more convenient for you.

SEE DETAILS Secured

on UNIFY Financial Credit Union’s secure website

NCUA Insured

Club account

A savings account with built-in early withdrawal fees meant to inspire self-discipline.
APYMinimum Balance to Earn APY
0.03%
None
  • Minimum opening deposit: $5
  • Minimum balance to earn APY: None
  • Monthly account maintenance fee: none
  • ATM fee: $1 if you use a non-CO-OP ATM
  • ATM fee refund: None
  • Overdraft fee: $30

Maybe you want to save money, but you know that you don’t have a lot of self-discipline. You might have tried this whole savings thing before, but find yourself withdrawing money from your account the next time your favorite musician comes to town. Whatever the temptation, you’re not alone. Keeping your savings in your savings account requires telling yourself “No,” and that’s not always an easy feat.

In recognition of this, many credit unions offer club accounts. With UNIFY Financial Credit Union’s version, you can pick a term of six, 12 or 18 months. If you make a withdrawal prior to the end of that term, you will be charged a $10 fee. The idea is that you’ll want to avoid that $10 fee, and therefore won’t make the withdrawal.

Club accounts are commonly used for holiday shopping, savings for summer vacations or savings to distribute seasonal pay more evenly throughout the year.

How to get UNIFY Financial Credit Union’s Club account

To open a Club account, you can log in online or visit a branch in person.

SEE DETAILS Secured

on UNIFY Financial Credit Union’s secure website

NCUA Insured

Youth Savings

Earns a little bit of interest to teach and encourage good savings habits.
APYMinimum Balance to Earn APY
0.03%
None
  • Minimum opening deposit: $5
  • Minimum balance to earn APY: None
  • Monthly account maintenance fee: none
  • ATM fee: $1 if you use a non-CO-OP ATM
  • ATM fee refund: None
  • Overdraft fee: $30

If you want to teach your child about savings while they’re young, you may consider opening up a Youth Savings account. The fees are the same as on the Special Savings Account, which is a positive, as there are very few. You could end up paying a small fee if you or your child uses an ATM not in the CO-OP-network, but other than that you’ll be banking for free.

To be sure, the APY on this account is extremely low. If teaching your child about savings and interest is what you’re after, you may be better off opening an account at another financial institution where rates are higher and your child will see more of a reward at a faster clip.

How to get UNIFY Financial Credit Union’s Youth Savings account

Sign up online or visit a branch.

SEE DETAILS Secured

on UNIFY Financial Credit Union’s secure website

NCUA Insured

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How UNIFY Financial Credit Union’s savings accounts compare

UNIFY Financial Credit Union’s savings rates simply aren’t in the same league as the competition. The best rates on the market are about 20 times higher than those you’ll find at this credit union. Be sure to comparison shop before you commit to a high yield savings account as missing out on the higher APY could be a major mistake — especially if you’re putting a lot of money into your savings account.

You’ll can find other credit unions among the financial institutions offering the best savings rates. If supporting a community and smaller businesses is important to you, you can still get great rates without going to one of the bigger banks.

UNIFY Financial Credit Union’s CD rates

Share Certificates

Decent certificate products with low early withdrawal fees.
Initial Deposit TermAPY
$1,000-$40,0003 Months0.15%
$40,000-$100,0003 Months0.15%
$100,000+3 Months0.15%
$1,000-$40,0006 Months0.25%
$40,000-$100,0006 Months0.25%
$100,000+6 Months0.25%
$1,000-$40,00012 Months0.50%
$40,000-$100,00012 Months0.50%
$100,000+12 Months0.50%
$1,000-$40,00024 Months0.65%
$40,000-$100,00024 Months0.65%
$100,000+24 Months0.65%
$1,000-$40,00036 Months0.75%
$40,000-$100,00036 Months0.75%
$100,000+36 Months0.75%
$1,000-$40,00048 Months0.85%
$40,000-$100,00048 Months0.85%
$100,000+48 Months0.85%
$1,000+60 Months1.00%
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: 3 months’ worth of interest

Share certificates are where UNIFY Financial Credit Union’s financial products start to get interesting. The rates on its share certificates — which you might recognize as the credit union equivalent of a certificate of deposit or CD — are far more competitive than the rates on its checking accounts or savings accounts. That doesn’t mean they’re the best on the market, but it does mean they’re competitive enough to be worth a second look.

Another attractive thing about UNIFY Financial Credit Union’s share certificates are the early withdrawal penalties. While most financial institutions up the early withdrawal penalty depending on the term, here it’s the same regardless of term length. This isn’t great news if you’re opening a 3 month certificate, but is encouraging if you’re getting something closer to the maximum term of 60 months.

That said, it’s better to not make an early withdrawal from a certificate, but if something happens and you need to access that money, at least you know the fees are going to be more than fair.

How to get UNIFY Financial Credit Union’s CDs

You can open your certificate online or at your local branch.

SEE DETAILS Secured

on UNIFY Financial Credit Union’s secure website

NCUA Insured

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How UNIFY Financial Credit Union’s CD rates compare

Simply put, there are better CD rates available if you’re willing to shop at other financial institutions. However, UNIFY Financial Credit Union’s rates on its certificates are far more competitive than they are on other products like its checking and savings accounts. If you’re nervous about opening a certificate, as your money will be inaccessible for the term of your CD, UNIFY Financial Credit Union’s lower early withdrawal rates may help put your mind at ease, despite the lower APY. Keep in mind, though, that this would likely pan out to be a win in your mind rather than in your wallet in the long run.

UNIFY Financial Credit Union’s money market account option

Money Market account

Poor rates, but no monthly maintenance fee.
APYMinimum Balance to Earn APY
0.10%
$2,500
0.10%
$10,000
0.10%
$50,000
0.10%
$100,000
  • Minimum opening deposit: $2,500
  • Minimum balance to earn APY: Varies; see table
  • Monthly account maintenance fee: None
  • ATM fee: $1 if you use a non-CO-OP ATM
  • ATM fee refund: None
  • Overdraft fee: $30

UNIFY Financial Credit Union’s Money Market account, much like its savings accounts, is simply not competitive when it comes to APY. While you will not have to pay any monthly maintenance fees — even if you fall below the minimum balance — you won’t be able to earn any dividends should you fall below that minimum balance, either. The balance requirements are a bit high, especially when considered in conjunction with the extremely low rates.

Remember that money market accounts fall under the same classification as savings accounts, which means they are also subject to Federal Reserve Regulation D. If you make more than six withdrawals per month, with the exception of ATM or in-person withdrawals at your local branch, your account could be shut down at the credit union’s discretion.

How to get UNIFY Financial Credit Union’s Money Market account

You can open your Money Market Account online or in person.

SEE DETAILS Secured

on UNIFY Financial Credit Union’s secure website

NCUA Insured

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How UNIFY Financial Credit Union’s money market account compares

The best money market offers on the market provide somewhere around double to quadruple the APY you’ll find at UNIFY Financial Credit Union. There is little incentive to open a money market account here with so many other good options around.

As you’re shopping, be sure to consider not just the APY, but also any minimum balance requirements and monthly maintenance fees. If you end up getting charged for falling below any given minimum balance requirement, that may start to eat away at the advantage you’ve built by choosing a financial institution that offers a higher APY.

UNIFY Financial Credit Union’s IRA options

IRA CD rates

IRA Share Certificates

Fairly standard IRA certificate product with low early withdrawal fees for longer terms.
Initial Deposit TermAPY
$1,000-$40,00012 Months0.50% Fixed
$40,000-$100,00012 Months0.50% Fixed
$100,000+12 Months0.50% Fixed
$1,000-$40,00018 Months0.28% Variable
$40,000-$100,00018 Months0.28% Variable
$100,000+18 Months0.28% Variable
$1,000-$40,00024 Months0.65% Fixed
$40,000-$100,00024 Months0.65% Fixed
$100,000+24 Months0.65% Fixed
$1,000-$40,00036 Months0.75% Fixed
$40,000-$100,00036 Months0.75% Fixed
$100,000+36 Months0.75% Fixed
$1,000-$40,00036 Months0.19% Variable
$40,000-$100,00036 Months0.19% Variable
$100,000+36 Months0.19% Variable
$1,000-$40,00048 Months0.85% Fixed
$40,000-$100,00048 Months0.85% Fixed
$100,000+48 Months0.85% FIxed
$1,000+60 Months1.00% Fixed
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: 3 months’ interest plus potential fees and penalties per the federal government

Just as with its regular certificate products, UNIFY Financial Credit Union’s IRA certificates offer far more competitive rates than its other checking and savings products. Yet, these rates are not the best on the market.

The minimum balance requirements are reasonable, and the early withdrawal penalty is attractive — especially to those opening longer-term certificates within their IRA. However, if it’s a bad idea to withdraw money early from a normal certificate product, it’s a doubly bad idea to do so when you’re keeping your certificate within your IRA. That’s because you won’t only have to worry about early withdrawal penalties from your financial institution, but you’ll also have to worry about early withdrawal penalty fees and taxes from the IRS.

How to get UNIFY Financial Credit Union’s IRA CDs

You will have to open this account in person.

SEE DETAILS Secured

on UNIFY Financial Credit Union’s secure website

NCUA Insured

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How UNIFY Financial Credit Union’s IRA CD rates compare

While UNIFY Financial Credit Union’s rates on certificate products are much closer to being competitive than its rates on other checking and savings products, they are still not the best around. Be sure to do some comparison shopping on IRA CDs, as it could reward you with a couple of extra percentage points in APY.

IRA Savings account

Fair rates on an extremely conservative retirement product.
APYMinimum Balance to Earn APY
0.10%
$5.00
  • Minimum opening deposit: $5
  • Minimum balance amount to earn APY: $5
  • Monthly account maintenance fee: None
  • Overdraft fee: $30

An IRA savings account is simply a savings account within your IRA. In most cases, it’s the most conservative investment you could have within your portfolio, and therefore isn’t going to offer a very high yield.

However, UNIFY Financial Credit Union actually offers a competitive rate on this product. Among those financial institutions that offer IRA savings accounts, rates are sometimes a little higher, or they can be dramatically less. It’s also nice that this account does not tack on monthly maintenance fees, though you should note that any withdrawals you make will be subject to IRS regulation. That means you’ll be paying fees and tax penalties for early withdrawals, even though they’re not charged by the credit union.

How to get UNIFY Financial Credit Union’s IRA Savings account

Open this account at your local branch.

SEE DETAILS Secured

on UNIFY Financial Credit Union’s secure website

NCUA Insured

Overall review of UNIFY Financial Credit Union’s banking products

Unless you’ve been flagged in the CHEXSystem and are looking at opening a Right Start Checking account, we cannot think of a good reason to open a checking, savings or money market account with UNIFY Financial Credit Union. You will have to maintain one in order to secure your membership with the credit union, but aside from that, there are simply too many other financial institutions offering significantly better rates to seriously consider any of this credit union’s products as a competitive option.

If, however, you are looking at share certificates or CDs, UNIFY Financial Credit Union is worth closer examination. Rates are somewhat competitive, and its low early withdrawal fees are attractive. This is especially true if you’re opening up a share certificate outside of an IRA, as you won’t have cause to worry about IRS-imposed fees and penalties for early withdrawal.

If you are opening a deposit account within an IRA, though, perhaps UNIFY Financial Credit Union’s best overall financial product is its IRA Savings account. Here rates are the most competitive, and minimum balance requirements are more than reasonable. If you’re looking for a conservative product for your portfolio, this account is not a bad place to start.