Friday, 20 September 2019

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

JSC Federal Credit Union’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

0.25%

Savings

JSC Federal Credit Union Savings Accounts

2.10%

American Express National Bank High Yield Savings Account

on American Express National Bank’s secure website

Member FDIC

1.82%

CD Rates

JSC Federal Credit Union 12 Month Share Certificate

2.65%

Goldman Sachs Bank USA High-yield 12 Month CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

2.38%

CD Rates

JSC Federal Credit Union 36 Month Share Certificate

2.90%

Synchrony Bank 36 Month CD

on Synchrony Bank’s secure website

Member FDIC

2.53%

CD Rates

JSC Federal Credit Union 48 Month Share Certificate

3.10%

Goldman Sachs Bank USA High-yield 5 Year CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

JSC Federal Credit Union’s checking account options

magnifying glass

How JSC Federal Credit Union’s checking accounts compare

Compared to most banks and credit unions, JSC Federal Credit Union’s checking accounts aren’t that bad. The credit union charges very small out-of-network ATM fees, and even waives these fees for the first few out-of-network ATM withdrawals per month. Most of these checking accounts also offer interest payments for no monthly fee, which is nice.

Still, the interest rates that the credit union offers are pretty low — it’s possible to find much higher interest rates with low (or no) fees at other banks and credit unions. We’ve put together a list of the best online checking accounts, which you can use to find these accounts.

JSC Federal Credit Union’s savings account options

magnifying glass

How JSC Federal Credit Union’s savings accounts compare

JSC Federal Credit Union doesn’t offer the worst rates on its savings accounts. But if you’re looking to earn the highest rate, you can do a lot better than this credit union. If you’re willing to head online for your banking needs, you can actually find savings account interest rates that are almost 10 times higher than what JSC Federal Credit Union offers.

We do like that the credit union offers a wide range of savings account types, even if the rates they offer aren’t that great. This will help people find just the right account for them.

JSC Federal Credit Union’s CD rates

magnifying glass

How JSC Federal Credit Union’s CD rates compare

You can take comfort that you won’t be earning the lowest interest rates on CDs out there if you choose to open one of JSC Federal Credit Union’s accounts. They’re not bad rates, but we also have to state that they’re not super great either.

You can earn much higher interest rates on your CDs by choosing one of these top CDs instead. It’s a good idea to try and find the highest CD rates right from the get-go, since once you put the money in, you won’t be able to move it around later if you do find higher interest rates (at least until the CD matures, that is).

JSC Federal Credit Union’s money market account option

magnifying glass

How JSC Federal Credit Union’s money market account compares

Again, JSC Federal Credit Union doesn’t offer the top rates in its class, but they’re also not the worst rates either. The rates are a bit in-between.

There are a few things to like with this account, however. There’s no monthly fee, ever, with this account, which is an unusual and welcome feature. You can still earn a small amount of interest if your balance dips below $1,000, which is nice if you need to withdraw the money to pay for a large purchase.

But, we still recommend these money market accounts instead because they do offer better interest rates on their accounts. In the banking game, finding the best interest rates will always ensure that your wallet is the winner.

JSC Federal Credit Union’s IRA account options

magnifying glass

How JSC Federal Credit Union’s IRA CD rates compare

When it comes to playing the retirement savings game, it’s always a balance of risk vs. reward. You may be able to earn more with stocks and bonds, but you may also lose a lot as well. But when it comes to IRA CDs, these are all equally guaranteed by the FDIC (up to $250,000 per person per bank), so there’s no reason to settle for less-than-optimal interest rates.

That’s why we don’t necessarily recommend JSC Federal Credit Union’s IRA CDs. Again, they’re not bad rates, but you can do much better with one of these top IRA CDs instead. By choosing anything other than the top-yielding IRA CDs, you’re essentially giving up that interest money as an opportunity cost, which can be especially detrimental for long-term savings like for retirement.

So, do yourself a favor: go out and find the best rates possible. Your future self will thank you.

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.

Lindsay VanSomeren

TAGS:

Recommended by

This Cash Back Number May Surprise You

This Cash Back Number May Surprise You

Best Travel Credit Cards With No Annual Fee

Best Travel Credit Cards With No Annual Fee

Getting Approved For 1 Of These Credit Cards Means You Have Excellent Credit

Getting Approved For 1 Of These Credit Cards Means You Have Excellent Credit

2 Credit Cards Charging 0% Interest until 2019

2 Credit Cards Charging 0% Interest until 2019

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

« »

Szemere

Related Articles