How Austin Telco Federal Credit Union’s checking account compares

There’s not much to say except that the rate earned on the Free Checking account is extremely low. You could also be paying a lot in ATM fees if you travel frequently and end up using a lot of out-of-network machines.

There are better alternatives among our list of checking accounts that offer higher rates, free checks and ATM refunds.

How Austin Telco Federal Credit Union’s savings account compares

We like the low minimum opening balance and that there are no monthly maintenance fees, but the APY is a pittance compared to online competitors. That, plus this account requires a higher minimum balance to earn the advertised APY, whereas ones on our list of the best savings accounts don’t.

If you’re after a high-yield savings account, you’re better off looking elsewhere.

How Austin Telco Federal Credit Union’s CD rates compare

Austin Telco Federal Credit Union makes up for their checking and savings accounts by offering decent CD rates. Depending on the term, they’re comparable to competitors, either on par or falling a few basis points lower.

The downside is that there are restrictive membership requirements, so if you don’t want to open a savings account or live near a branch then you have no choice but to pick an alternative like our top CD account picks.

How Austin Telco Federal Credit Union’s money market accounts compare

While it’s nice that you get a higher rate of return compared to the Share Savings or Free Checking account, we’re still not impressed. Other accounts we’ve reviewed offer much higher rates and some with lower minimum balance requirements. Many also offer ATM access and limited check writing capabilities.

Even if you’re using this account to stash away funds for a rainy day — meaning you don’t care about check writing and ATM access — you’re still better off finding another money market accounts, like these ones offering some of the best money market rates.

How Austin Telco Federal Credit Union’s IRA CD rates compare

Unfortunately, these IRA CD rates fall short compared to the best IRA CD rates we’ve seen. As well, the minimum opening deposit is higher than other accounts we’ve reviewed. If you’re already a member of Austin Telco Federal Credit Union and do regular banking with them, it may make sense to open an IRA CD. For the rest, the restrictive membership requirements may not be worth it.