Sunday, 25 August 2019

Alaska USA Federal Credit Union Reviews: Checking, Savings, CD, Money Market, and IRA Accounts

Alaska USA Federal Credit Union Reviews: Checking, Savings, CD, Money Market, and IRA Accounts
10 Oct
12:50

Alaska USA Federal Credit Union’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

0.20%

Savings

Alaska USA Federal Credit Union Premium Savings

2.15%

CIT Bank Savings Builder

LEARN MORE Secured

on CIT Bank’s secure website

Member FDIC

1.76%

CD Rates

Alaska USA Federal Credit Union 12 – 17 Month CD

2.55%

Goldman Sachs Bank USA High-yield 12 Month CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

2.65%

CD Rates

Alaska USA Federal Credit Union 36 – 47 Month CD

2.65%

American Express National Bank 36 Month CD

on American Express National Bank’s secure website

Member FDIC

3.25%

CD Rates

Alaska USA Federal Credit Union 60 Month CD

3.00%

American Express National Bank 60 Month CD

on American Express National Bank’s secure website

Member FDIC

Alaska USA Credit Federal Credit Union’s checking account options

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How Alaska USA Federal Credit Union’s checking accounts compare

Unfortunately, Alaska USA Federal Credit Union offers pretty poor interest rates, especially when compared to the best online checking accounts out there. You’ll also have to work each month to make sure you meet the monthly requirements for whichever checking account you choose in order to avoid a monthly fee, which is inconvenient.

These accounts also don’t offer anything special beyond just the ability to write checks, which any checking account can fulfill. For example, some checking accounts come with a cash-back rewards program for using your debit card, or offer unique online tools for managing your money. Alaska USA Federal Credit Union offers nothing of the sort.

All of these factors together are why we recommend skipping Alaska USA Federal Credit Union for its checking accounts unless you want a convenient bank to work with in-person. Otherwise, if earning high rates or other perks is your priority, a checking account at another bank will serve you better.

Alaska USA Federal Credit Union’s savings account options

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How Alaska USA Federal Credit Union’s savings accounts compare

Alaska USA Federal Credit Union offers very low interest rates. We also don’t like that you may be charged a fee if you drop your account balance below a $50 threshold level (or, a $5 threshold for Share Savings account holders under age 26). That seems pretty unfair for a savings account, especially since there’s so many out there that don’t charge a fee.

If you’re looking to earn the best rates possible and not be threatened with a fee, consider one of these top online savings accounts instead. The interest rates offered on these accounts are miles better than at Alaska USA Federal Credit Union.

Alaska USA Federal Credit Union’s CD rates

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How Alaska USA Federal Credit Union’s CD rates compare

Alaska USA Federal Credit Union doesn’t offer very good rates on most of its CDs. The exceptions are if you open a CD with a minimum balance of $250,000 and a term length of 60 months — the biggest and longest-term that Alaska USA offers. In that case, it actually does compare quite well with the frontrunners in its class.

However, we caution you to think twice before you do this, since NCUA insurance is limited to just a $250,000 deposit. If Alaska USA Federal Credit Union were ever to go under and you had more than this in your account, you could lose that money.

Instead, if you want better rates for whatever term length and deposit amount you have (and easier-to-understand rules as well), consider one of these top-earning CDs.

Alaska USA Federal Credit Union’s money market account options

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How Alaska USA Federal Credit Union’s money market accounts compare

Again, Alaska USA Federal Credit Union misses the mark in terms of offering attractive interest rates. Compared with the highest-yielding money market accounts out there, Alaska USA Federal Credit Union doesn’t even come close. That’s why we recommend passing on these accounts. You won’t earn hardly anything here compared to money market accounts offered at some other banks.

Alaska USA Federal Credit Union’s IRA account options

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How Alaska USA Federal Credit Union’s IRA CD rates compare

Alaska USA Federal Credit Union offers a lot of different options for opening a CD. Sadly, none of these options offer outstanding interest rates, even for the largest deposit sizes and for the longest term lengths, which typically offer higher rates.

If you’d rather earn the most money possible on an IRA CD, we recommend checking out the current IRA CD frontrunners. These IRA CDs offer much better rates, and will help you save the most for retirement if IRA CDs are your investment vehicle of choice.

Advertiser Disclosure: The card offers that appear on this site are from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all card companies or all card offers available in the marketplace.

Lindsay VanSomeren

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Source: https://www.magnifymoney.com/blog/reviews/alaska-usa-federal-credit-union/

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