Saturday, 23 January 2021

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

Columbia Credit Union Review: Checking, Savings, CD, Money Market and IRA Accounts
04 Jan
2:09

Columbia Credit Union’s checking account options

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How Columbia Credit Union’s checking accounts compare

If you’re opening a checking account based solely on the interest rate you can get, Columbia Credit Union isn’t for you. The only dividend-bearing account offers a paltry rate— and even its other checking accounts, which have perks such as no maintenance fees or no foreign transaction fees at ATMs, have competitors that offer these same benefits without sacrificing on dividends. Shop the competition on our list of the top checking accounts before deciding which account is best for you.

Columbia Credit Union’s savings account options

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How Columbia Credit Union’s savings accounts compare

Columbia Credit Union’s savings accounts do not pay very much in the way of interest. While free checks for people with a Achievers Club Savings account is a nice perk, they do not make up for low APY offerings. You can find much better rates by shopping our list of the best savings accounts on the market.

Columbia Credit Union’s CD rates

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How Columbia Credit Union’s CD rates compare

Columbia Credit Union’s certificates are more competitive than its checking and savings products. While the rates aren’t the highest on the market, they’re not the lowest either. But you don’t just want “not the lowest” — you want to get the best rate you possibly can, especially when you’re putting your money into an account where you won’t be able to touch it for a set period of time. Be sure to shop our list of the best CD rates on the market so you can get the best rates available.

Columbia Credit Union’s money market account options

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How Columbia Credit Union’s money market accounts compare

Columbia Credit Union’s dividend offerings on money market accounts are not competitive. They fall far below the rates offered by the competition, despite having reasonable minimum opening deposit requirements and potential rate boosts through the Bonus Dividend Plan. Shop our list of the best money market accounts on the market and be rewarded with a higher APY.

Columbia Credit Union’s IRA account options

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How Columbia Credit Union’s IRA CD rates compare

The rates offered on Columbia Credit Union’s IRA certificates aren’t the lowest around, but they’re not the highest, either. An IRA certificate is already an extremely conservative portfolio holding; you want to make sure you’re not further stunting your money’s growth by earning less of an APY than you have to. Shop around to ensure you’re getting the best IRA CD rates the market has to offer.

Advertiser Disclosure: The products that appear on this site may be 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 financial institutions or all products offered available in the marketplace.

Brynne Conroy

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

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