Thursday, 3 December 2020

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

American Heritage Credit Union Review: Checking, Savings, CD, Money Market and IRA Accounts
08 Dec
6:09

American Heritage Federal Credit Union’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

0.16%

Savings

American Heritage Federal Credit Union Primary Share Savings

2.00%

American Express National Bank High Yield Savings Account

on American Express National Bank’s secure website

Member FDIC

2.26%

CD Rates

American Heritage Federal Credit Union 12 Month Share Certificate

2.55%

Goldman Sachs Bank USA High-yield 12 Month CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

2.76%

CD Rates

American Heritage Federal Credit Union 36 Month Share Certificate

2.85%

Synchrony Bank 36 Month CD

on Synchrony Bank’s secure website

Member FDIC

3.11%

CD Rates

American Heritage Federal Credit Union 60 Month Share Certificate

3.10%

Goldman Sachs Bank USA High-yield 5 Year CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

American Heritage Credit Union’s checking account options

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How American Heritage Credit Union’s checking accounts compare

American Heritage has five distinct checking accounts, all of which pay interest and have no monthly fees, with the exception of the feature-enhanced Identity Protection Checking account. All pay roughly the same rate, with the top rates found at the top tier of the Platinum Checking account. In all cases, rates paid are not that noteworthy, coming in close to the national average. Customers looking for no-fee checking accounts might be satisfied here, but those seeking the best available checking account rates should look elsewhere.

American Heritage Credit Union’s savings account options

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How American Heritage Credit Union’s savings accounts compare

American Heritage Credit Union offers a dizzying array of savings accounts, 10 in all, although five of those are dedicated youth accounts. With the exception of the Identity Protection Savings account, which offers additional services to guard against identity theft, all of the savings accounts are free of monthly fees, and all pay interest. For the most part, interest rates run slightly below the national average for savings accounts. The notable exception is the High Yield Savings account, which stands head and shoulders above the other offerings. Although a $10,000 minimum balance is required, customers can enjoy one of the best rates available on savings accounts nationwide.

American Heritage Credit Union’s CD account options

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How American Heritage Credit Union’s CD accounts compare

American Heritage Credit Union offers an outstanding line of CD products. Even with its numerous maturities, not a single CD falls below the national average rate, and in some cases, the credit union’s CD rates pay nearly double the average. The current 4 month CD special blows away even the best CD rates available around the country, although the maximum deposit of $2,000 limits its appeal. Overall, however, rates are not that far from the best yields you can find at other institutions.

American Heritage Credit Union’s money market account options

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How American Heritage Credit Union’s money market accounts compare

American Heritage Credit Union offers a respectable line of money market accounts, with three different versions available to serve different customers. Even the entry-level money market account provides a rate just under double the national average, while the other two money market accounts pay slightly higher yields in exchange for higher minimum balance requirements. There’s still some work to be done, however, before the credit union can compete with best money market rates in the nation.

American Heritage Credit Union’s IRA options

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How American Heritage Credit Union’s IRA products compare

American Heritage Credit Union offers some good options for money deposited into an IRA. Both the Regular IRA Share account and the Platinum IRA Share account pay rates above the national average savings account rate, without any monthly fees. The credit union’s line of IRA CDs stands out, with all rates higher than the national average IRA CD rates, sometimes considerably so. Rates still need to tick a bit higher to approach the best available IRA CD rates, however.

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John Csiszar

John Csiszar |

John Csiszar is a writer at MagnifyMoney. You can email John here

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Source: https://www.magnifymoney.com/blog/reviews/american-heritage-credit-union/

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