Wright-Patt Credit Union Reviews: Checking, Savings, CD, Money Market and IRA Accounts

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Updated on Sunday, November 1, 2020

Wright-Patt Credit Union checking account options

Totally Fair Checking

It’s unfortunate you don’t earn any interest, but you could earn rewards.
  • Minimum opening deposit: $0
  • MMonthly account maintenance fee: $0
  • ATM fee: 60 cents for out-of-network ATMs
  • ATM fee refund: Up to six per month (details below)
  • Overdraft fee: $25 per item (other options available)

The Totally Fair Checking account can be a great low-fee option for those who aren’t interested in maintaining account balance minimums. With this account, you get free bill pay, mobile deposit, online and mobile banking.

You also get a debit card that offers two extra benefits: a purchase rewards program and Wright-Patt Credit Union’s EasySaver program. The rewards program gives you cashback rewards when you activate select offers and make purchases with the card.

The EasySaver program rounds up your purchase totals to the nearest whole dollar and deposits it into your EasySaver savings account. If you sign up for e-statements, Wright-Patt Credit Union will match 50% of the amount it rounds up on your purchases for the first 30 days after your account opening. Afterward, the credit union will match 5%, up to $300 per year.

Other options for overdraft protection include linking it to a savings or money market account, a line of credit, debit or courtesy pay coverage. Each of these options has different fees, so you’ll want to check the disclosure to make the right choice for you.

Wright-Patt Credit Union has a tiered membership program that offers different benefits depending on how much you have on deposit, the lowest being an associate member and the highest being a premier member. Some of the perks you get include ATM refunds and free checks.

Students between ages 17 and 24 can also sign up for this account as part of the credit union’s Student Essentials Package, which comes with an Easy Saver account.

How to get the Totally Fair Checking account

You need to establish membership to open a Totally Fair Checking account with a $5 opening deposit into a TrueSaver account. Head over to Wright-Patt Credit Union’s online application form and choose how you qualify for membership, then fill in details such as your name, address and Social Security number. Then you can initiate deposits into both accounts.

If you’re younger than 18, you’ll need to open an account in person with a parent or guardian.

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Checking with Dividends

You get the same great benefits as the Totally Fair Checking, plus you earn some interest.
APYMinimum Balance to Earn APY
0.04%$0.01
0.04%$10,000
0.08%$25,000
  • Minimum opening deposit: $1,000
  • Monthly account maintenance fee: $5 (this can be waived)
  • ATM fee: 60 cents for out-of-network ATMs
  • ATM fee refund: Up to six per month (details below)
  • Overdraft fee: $25 per item (other options available)

This checking account is best for those looking to earn a bit of interest — although it’s not much — and want the same benefits as the Totally Fair Checking account. Just like with that account, you get free bill pay, online and mobile banking. You’re also looking at no overdrafts as the default option unless you choose otherwise. This includes courtesy pay coverage or linking it to a savings or line-of-credit account, though check with the credit union to see how it works and what fees are associated with each option.

Although this account has a monthly maintenance fee, you can avoid it if you maintain a $1,000 minimum daily balance. With the ATM fees, you’ll get more refunds the higher you are on the tiered membership program, which differs depending on how much you have on deposit.

The debit card that comes with the Checking with Dividends account comes with a rewards program where you can activate select offers and get cashback rewards when you make purchases with the card. You can also opt into the EasySaver program that rounds up your purchases to the nearest dollar and puts it into your EasySaver savings account. As a bonus, if you elect to receive e-statements, Wright-Patt will match 50% of what you save for the first 30 days, then 5% after that, up to $300 each year.

You also get a debit card that offers two extra benefits — the purchase rewards program and Wright-Patt Credit Union’s EasySaver program. The rewards program gives you cashback rewards when you activate select offers and make purchases with the card.

How to get the Checking with Dividends account

You can open an account via the credit union’s online application form. First, you’ll need to become a member by opening a Totally Fair Checking account. Indicate how you qualify to become a member on the form, then provide personal information such as your name, address and Social Security number. You can then fund your accounts.

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How Wright-Patt Credit Union’s checking accounts compare

We like the fact that credit union members get rewarded based on how much they have on deposit, and that there are perks you may use often, such as those ATM refunds. The EasySaver and rewards program connected with the debit card are pretty nice, too, helping you save money. But the dividend rates are quite low compared to APYs on offer out there. In fact, they’re not even close to what the best online checking accounts are offering.

Wright-Patt Credit Union savings account options

TrueSaver

All members are required to open this account to establish membership.
APYMinimum Balance to Earn APY
6.00%$0.01
0.15%$500.01
  • Minimum opening deposit: $5
  • Minimum balance to earn APY: 1 cent
  • Monthly account maintenance fee: $0
  • ATM fee: 60 cents for out-of-network ATMs
  • ATM fee refund: Up to six per month (details below)
  • Overdraft fee: N/A

Even if this account wasn’t required to establish membership, the high rate could be enough to entice you, even if it’s only for the first $500. To qualify for that rate, you’ll need to have an active Wright-Patt Credit Union checking account with e-statements (or monthly direct deposit) and a minimum of four qualifying transactions each month, including bank transfers, debit card purchases or bill pay. If you’re younger than 18 and opening an account, you automatically qualify to get the rate. Otherwise, the rate falls down to 0.15% APY.

You also get a debit or ATM card with the account, and ATM refunds will differ depending on your membership tier. Generally speaking, the more you have on deposit with Wright-Patt Credit Union across all accounts, the higher the tier. That means you’ll get extra benefits such as more ATM refunds, free checks and money orders.

You can also open a secondary savings account, which has the same features as this one but the APY is only 0.15%. Minors can also open this account and will earn the same rate. Youth accounts also get a quarterly newsletter, opportunities to win prizes and occasional financial workshops. Since this is a savings account, you’re allowed up to six certain withdrawals because of Regulation D. If you exceed that limit, your transaction will be declined and the credit union could close your account.

How to get the TrueSaver account

You can open a TrueSaver account by going to the credit union’s website and filling out an online application form. You’ll need to provide information such as your name, address and Social Security number.

If you’re younger than 18, you’ll need to open an account in person, with a parent or guardian.

SEE DETAILS Secured

on Wright-Patt Credit Union’s secure website

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EasySaver

Pair it with a checking account to help you save, but you’re not earning much in interest.
APYMinimum Balance to Earn APY
0.15%$0.01
0.15%$500.01
  • Minimum opening deposit: $0
  • Minimum balance to earn APY: 1 cent
  • Monthly account maintenance fee: $0
  • ATM fee: 60 cents for out-of-network ATMs
  • ATM fee refund: Up to six per month (details below)
  • Overdraft fee: N/A

This account is for members who want to take part in the EasySaver feature, linking a checking account to help automatically save money. Every time you use your debit card with funds from the checking account, Wright-Patt Credit Union will round up the total to the nearest dollar and transfer the difference into this account. You can withdraw the cash anytime you want, though you are limited to six times each month by federal regulation. If you attempt to make more, your transaction will be denied and your account could be closed down.

If you choose to receive e-statements, the credit union will match up to 50% of what gets transferred from the rounded-up purchases within the first 30 days of the account being opened. Afterward, you’ll get a 5% match up to $300 per year.

How to get the EasySaver account

This account is part of an option you choose when you open any of Wright-Patt Credit Union’s checking accounts. When you choose which checking account you want, you’ll be asked if you want to open an EasySaver account.

If you’re younger than 18, you’ll need to open an account in person, accompanied by a parent or guardian.

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How Wright-Patt Credit Union’s savings accounts compare

We’re loving the rate we’re seeing for the TrueSaver account. Most credit unions require you to open a savings account with a low APY, but not this one. It’s also one of the highest rates we’ve seen compared to what we have listed as the best online savings accounts.

Given all that, the great rate is only on the first $500 balance, so you may want to look elsewhere if you want to stash more money into a savings account.

Wright-Patt Credit Union CD rates

Share Certificates

Except for the jumbo CD, it’s a pretty low minimum opening deposit amount.
TermAPY on $500 opening depositAPY on $100,000 opening deposit
6-11 months0.55%0.65%
12-17 months0.75%0.85%
18-23 months0.80%0.90%
24-35 months0.90%1.00%
36-47 months0.95%1.06%
48-59 months1.00%1.11%
60-71 months1.06%1.16%
72 months1.11%1.21%
  • Minimum opening deposit: $500 or $100,000
  • Minimum balance amount to earn APY: $500 or $100,000
  • Early withdrawal penalty: Depends on original term:
    • 1-5 months: all interest you would have earned
    • 6-17 months: 3 months interest
    • 18-35 months: 6 months interest
    • 36-47 months: 9 months interest
    • 48-72 months: 12 months interest

If you’re looking for a CD that offers a low opening minimum deposit and aren’t terribly concerned about getting the highest rates, these Share Certificates may be a good choice. Assuming you keep the entirety of your deposit amount (including interest) until maturity, you’ll be able to earn the advertised APYs in the chart above.

Interest is compounded and credited monthly to your account. Upon maturity, you’ll have a 10-day grace period where you can make changes such as transferring additional funds, renew for another term or make withdrawals. Otherwise, your CD will be automatically renewed.

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Club Account

While you can make withdrawals before maturity, the advertised rate seems hardly worth it.
TermAPY
3-12 months0.08%
  • Minimum opening deposit: $0
  • Minimum balance amount to earn APY: 1 cent
  • Early withdrawal penalty: One free withdrawal, then $10 each afterward

The Club Account is a bit more lenient than the fixed-rate, fixed-term Share Certificate account in that you are allowed to make withdrawals before maturity. You can make one withdrawal during your agreed term for free, then you’ll need to fork over $10 for each one beyond that.

How the Club Account works is that you set a term in which you want to set aside the funds you save for a specific purpose. You can make as many deposits as you want up until the maturity date. Once your term is up, the money will be transferred to an account of your choosing.

How to get Wright-Patt Credit Union’s CDs

To open any one of Wright-Patt Credit Union’s CDs, you’ll need to open a TrueSaver account to establish membership. To do so, visit its online application form and first indicate how you can qualify for membership, then select which accounts you want. You’ll be asked to fill in personal details such as your name, address and Social Security number, as well as provide details on an external account to fund your accounts.

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How Wright-Patt Credit Union’s CD rates compare

These are all-around decent rates for CDs, though slightly lower than the ones on our list of the best CD rates. But the Club Account isn’t exactly the greatest and you’d be better off with the TrueSaver account if you’re interested in a more flexible savings option.

Wright-Patt Credit Union money market account options

Personal Capital Money Market

Get a pretty decent rate and limited check-writing capabilities.
APYMinimum Balance to Earn APY
0.15%$100
0.45%$2,500
0.55%$50,000
  • Minimum opening deposit: $100
  • Minimum balance to earn APY: $100
  • Monthly account maintenance fee: $0
  • ATM fee: 60 cents for out-of-network ATMs
  • ATM fee refund: Up to six per month (details below)
  • Overdraft fee: N/A

The Personal Capital Money Market account offers limited check-writing capabilities and ATM access, though it has a regulatory limit of six withdrawals a month. If you try to go over the allotted amount, your transaction will be denied and your account could be closed.

Those younger than 18 can open an account with an adult, but only those older than 16 will be able to receive an ATM card. You can access your account via online, mobile and telephone banking. Accounts that reach a $10,000 minimum balance qualify for free checks.

How to get the Personal Capital Money Market account

If you’re not already a member, you’ll need to indicate how you qualify for membership in the online application form and agree to open a TrueSaver savings account. You’ll be asked to provide personal information such as your name, address and Social Security number. Then you’ll provide a way to fund the accounts.

If you’re younger than 18, you’ll need to open an account in person.

SEE DETAILS Secured

on Wright-Patt Credit Union’s secure website

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How Wright-Patt Credit Union’s money market account compares

These rates are fairly competitive. In fact, they’re up there with our top money market rates. It’s also pretty great that you don’t need too high of a minimum deposit amount to earn that rate, unlike accounts elsewhere that require higher minimums.

Wright-Patt Credit Union IRA account options

IRA CD rates

Single-deposit IRA share certificate with some pretty competitive rates offered.
TermAPY on $500 opening depositAPY on $100,000 opening deposit
6-11 months0.55%0.65%
12-17 months0.75%0.85%
18-23 months0.80%0.90%
24-35 months0.90%1.00%
36-47 months0.95%1.06%
48-59 months1.00%1.11%
60-71 months1.06%1.16%
72 months1.11%1.21%
  • Minimum opening deposit: $500 or $100,000
  • Minimum balance amount to earn APY: $500 or $100,000
  • Early withdrawal penalty: Depends on length of term
    • Less than 6 months: Dividend rate in effect (on amount withdrawn)
    • 6 months or more: 6 months interest

These IRA CDs can be opened in either a Roth or traditional IRA account and offer some decent rates. If you have a large chunk of cash, you could consider the jumbo CD with the $100,000 minimum deposit, though the rates aren’t that much higher.

The interest you earn is compounded and deposited monthly into your account. Once the CD matures, you’ll get a 10-day grace period to make any changes, such as adding more money, rolling the balance into another term or making withdrawals. If you’re younger than 59½, you could be subject to IRS penalties. Otherwise, it’ll automatically renew.

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Add-On IRA share certificate

Get competitive rates and the ability to make additional deposits.
TermAPY for $100 opening depositAPY for $100,000 opening deposit
18 months (fixed rate)2.12%2.22%
18 months (variable rate)1.92%2.02%
  • Minimum opening deposit: $100 or $100,000
  • Minimum balance amount to earn APY: $100 or $100,000
  • Early withdrawal penalty: 6 months interest

You’re in the right place if you want a CD with decent rates and the ability to make additional deposits — up to the IRS limitations, of course. It could be great for those who are just starting on their savings journey since the IRA CD has a low minimum opening deposit and you can make additional deposits.

Like the single-deposit IRA share certificate, interest is compounded and credited each month to your account. Upon maturity, it’ll automatically renew unless you make changes during the 10-day grace period. During those 10 days, you can make withdrawals (you could be subject to IRS penalties if you’re younger than 59½) or renew for another term.

How to get Wright-Patt Credit Union’s IRA CDs

You’ll need to first become a member of the credit union by opening a TrueSaver account. Fill out the member application form by entering information such as your name, address and Social Security number. Once you fund the account, you can start the application process for an IRA CD by filling out the form or by heading to your nearest branch.

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on Wright-Patt Credit Union’s secure website

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How Wright-Patt Credit Union’s IRA CD rates compare

We like most of the rates for the IRA CDs, though some of the terms offered have APYs lower than those on our list of the best IRA CD rates. The Add-On IRA CD is pretty nice as it offers a competitive rate and you can add additional funds.

These IRA CDs aren’t a bad choice, depending on which term you choose.

Overall review of Wright-Patt Credit Union’s banking products

Most of Wright-Patt Credit Union’s products offer competitive rates and decent benefits, including free checks, cashback bonuses and ATM refunds. One account that really stands out is the TrueSaver savings account, offering one of the best rates we’ve seen.

The accounts that do fall flat are the checking accounts. For all other accounts, they are worth a look if you’re able to qualify for membership.