Saturday, 28 November 2020

Army Aviation Center Federal Credit Union Review: Checking, Savings, CD, Money Market and IRA Accounts

Army Aviation Center Federal Credit Union Review: Checking, Savings, CD, Money Market and IRA Accounts
09 Dec
9:09

Army Aviation Center Federal Credit Union’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

0.20%

Savings

Army Aviation Center Federal Credit Union Share Account

2.00%

American Express National Bank High Yield Savings Account

on American Express National Bank’s secure website

Member FDIC

2.02%

CD Rates

Army Aviation Center Federal Credit Union 12 Month CD

2.55%

Goldman Sachs Bank USA High-yield 12 Month CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

2.52%

CD Rates

Army Aviation Center Federal Credit Union 36 Month CD

2.85%

Synchrony Bank 36 Month CD

on Synchrony Bank’s secure website

Member FDIC

3.03%

CD Rates

Army Aviation Center Federal Credit Union 60 Month CD Special – New Money

3.10%

Goldman Sachs Bank USA High-yield 5 Year CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

Army Aviation Center Federal Credit Union’s checking account options

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How Army Aviation Center Federal Credit Union’s checking accounts compare

We tend to prefer checking accounts with no monthly maintenance fees. There are several checking options at Army Aviation Center Federal Credit Union that don’t come with monthly fees. While these accounts are fairly basic, they offer most of what you’d need in a checking account.

The ATM fee and overdraft fee policy at Army Aviation Center Federal Credit Union is more generous than what you’d typically find at a larger national bank, especially given that you get three free transactions per month at out-of-network ATMs. However, none of the accounts offer interest or overdraft fee waivers.

When compared to the best online checking accounts, Army Aviation Center Federal Credit Union does pretty well but ultimate falls short of the competition. Most of these online checking accounts have no monthly service fee and no minimum balance requirement, but on top of that, they also offer interest. Several even offer free ATMs worldwide, including unlimited ATM fee reimbursements.

Army Aviation Center Federal Credit Union’s savings account options

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How Army Aviation Center Federal Credit Union’s savings accounts compare

Overall, Army Aviation Center Federal Credit Union offers decent savings account options for folks who are mainly concerned with avoiding monthly maintenance fees and high minimum balance requirements. You don’t need to have much to open any of this credit union’s savings accounts.

They also offer some variety. Where there’s only one option for adults, the add-on Christmas Club savings account is a unique product that could prove useful to people who need to save a little extra for the holidays. Army Aviation Center Federal Credit Union’s savings products for teens and children are also excellent choices for getting your kids started on the right path financially.

Although Army Aviation Center Federal Credit Union’s savings accounts are low-maintenance and low-fee, they’re also low interest. This credit union falls really short of the competition when it comes to their APY. It’s worth considering that some of the best online savings accounts offer rates that are 10x higher than what Army Aviation Center Federal Credit Union offers.

Army Aviation Center Federal Credit Union’s CD rates

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How Army Aviation Center Federal Credit Union CD rates compare

The share certificates at Army Aviation Center Federal Credit Union offer competitive rates and great flexibility. While some of the best CD rates are slightly higher, Army Aviation Center Federal Credit Union’s rates are comparable. In fact, the rates on their 3 month, 6 month, and 9 month certificates beat the competition by a sizeable margin.

In terms of minimum deposit amounts, Army Aviation Center Federal Credit Union’s requirements are lower than or equal to the deposits required by their competition. On top of that, the 12 month certificate has an even lower minimum deposit requirement. If you’re looking for added flexibility, the 9 month certificate offers the unique ability to do a one-time penalty-free withdrawal, a feature we don’t often see.

Army Aviation Center Federal Credit Union’s money market account options

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How Army Aviation Center Federal Credit Union’s money market accounts compare

It’s important to find a money market account with no monthly fees, and Army Aviation Center Federal Credit Union’s money market accounts are free. They also have lower minimum balance requirements than many other money market accounts out there, although it’s not too difficult to find others with similar or lower minimum balance amounts.

However, the most important feature of a money market account is its rates; unfortunately, when compared to the best money market rates, Army Aviation Center Federal Credit Union’s money market rates are quite low. You can find other fee-free money market accounts with rates five or six times higher than these rates, although they tend to have significantly higher opening deposit amounts. However, a few of these high interest money market accounts have low or no minimum balance requirements and don’t charge monthly maintenance fees.

Army Aviation Center Federal Credit Union’s IRA account options

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How Army Aviation Center Federal Credit Union’s IRA CD rates compare

When you look at the best IRA CD rates, Army Aviation Center Federal Credit Union’s IRA term certificates don’t quite make the list — but they come pretty close. All of their IRA term certificates offer rates that are at or near the competition, and with an early withdrawal penalty that’s less harsh than some.

If you’re looking for a short-term IRA term certificate, Army Aviation Center Federal Credit Union doesn’t offer anything under 12 months, whereas other institutions offer terms as short as three months. While their minimum opening deposit requirement is fairly low, you can find other institutions with even lower requirements.

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Source: https://www.magnifymoney.com/blog/reviews/army-aviation-center-federal-credit-union/

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