Tuesday, 2 June 2020

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

Founders Federal Credit Union Reviews: Checking, Savings, CD, Money Market and IRA Accounts
02 Apr
3:08

Founders Federal Credit Union’s checking account options

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How Founders Federal Credit Union’s checking accounts compare

Founders Federal Credit Union’s Checking Account isn’t atypical for brick-and-mortar financial institutions. But in the age of internet banking, you can find checking accounts that fall outside the norm in big ways. By shopping for the best checking accounts on the market, you can get rewarded with a notably higher APY.

Founders Federal Credit Union’s savings account options

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How Founders Federal Credit Union’s savings accounts compare

Founders Federal Credit Union’s APY offerings on savings products are not competitive. But you have to keep at least $5 in the Savings Account to maintain membership with the credit union, and your goal with a Christmas Club Account may be self-discipline rather than high dividends.

If a higher APY is what you’re after, shop for the best savings rates on the market. Your savings will earn a noticeable amount more that way.

Founders Federal Credit Union’s CD rates

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How Founders Federal Credit Union’s CD rates compare

Founders Federal Credit Union’s certificates are hit or miss. When they hit, they hit big. The rates on the 60-month Share Certificate and 12-month Loyalty Advantage Certificate are some of the highest on the market.

But the Youth Certificate and Share Certificates with terms less than 60 months don’t really compare. Make sure you shop around to make sure you find the right CD for your savings goals.

Founders Federal Credit Union’s money market account options

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How Founders Federal Credit Union’s money market accounts compare

Founders Federal Credit Union’s Money Market Plus doesn’t compare to the best offers on the market. Even among the lowest rates on our ranking of the best money market accounts, Founders Federal Credit Union’s highest rate is several tenths of a percentage point away, and requires a significantly higher balance. You may want to consider looking elsewhere for your money market needs.

Founders Federal Credit Union’s IRA account options

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How Founders Federal Credit Union’s IRA CD rates compare

Founders Federal Credit Union’s rates are competitive, but not the best on the market. It’s important to do some heavy comparison shopping with this account. Rates fluctuate for each financial institution, so there is a chance Founders Federal Credit Union will come out on top eventually. But for right now, you can find better IRA CD rates elsewhere.

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

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