Tuesday, 2 June 2020

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

Kinecta Federal Credit Union Reviews: Checking, Savings, CD, Money Market, and IRA Accounts
22 Aug
2:19

Kinecta Federal Credit Union’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

0.05%

Savings

Kinecta Federal Credit Union Regular Share Account

1.85%

Goldman Sachs Bank USA High-yield Online Savings Account

on Goldman Sachs Bank USA’s secure website

1.70%

CD Rates

Kinecta Federal Credit Union 12 Month CD

2.45%

Synchrony Bank 12 Month CD

on Synchrony Bank’s secure website

2.05%

CD Rates

Kinecta Federal Credit Union 3 Year CD

2.55%

Ally Bank High Yield 3 Year CD

on Ally Bank’s secure website

2.25%

CD Rates

Kinecta Federal Credit Union 5 Year CD

3.00%

Barclays 60 Month Online CD

on Barclays’s secure website

Kinecta Federal Credit Union’s checking account options

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How Kinecta Federal Credit Union’s checking accounts compare

Unfortunately, Kinecta Federal Credit Union’s checking accounts fall short when compared to rates offered by their online competitors. Although its highest APY for its Checking Plus account is comparable to our list of the best checking account rates out there, it does require a high minimum deposit amount. Other competitors also offer ATM reimbursements and no monthly maintenance fees. If you’re after the best rates, you’re better off looking elsewhere.

Kinecta Federal Credit Union’s savings account

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How Kinecta Federal Credit Union’s savings account compares

Kinecta Federal Credit Union doesn’t even come close to other APYs offered by other online banks. Many offer no monthly minimum balance requirements and no monthly fees. Some have limited checking writing capabilities and/or ATM access. If you’re after the best rates possible, you’re better off doing some comparison shopping from our list of the current best savings accounts.

Kinecta Federal Credit Union’s CD rates

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How Kinecta Federal Credit Union’s CD rates compare

Kinecta Federal Credit Union’s CD rates are pretty competitive compared to our list of the best CD rates out there. Its CDs have a lower minimum opening deposit amount. However, not all of its CD terms offer the best rates, so you’ll want to do some comparison shopping to see which is the best deal.

Kinecta Federal Credit Union does offer a unique CD account: the liquid certificate. If you’re after a CD where you can make additional funds and withdraw as often as you need, this is a great choice.

Kinecta Federal Credit Union’s money market account options

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How Kinecta Federal Credit Union’s money market accounts compare

Unfortunately, Kinecta Federal Credit Union’s money market account rates fall way short compared to other places. While it does have a lower minimum balance than some of the ones we’ve listed as having the current best money market rates, the low rate doesn’t seem to be worth it. Others on our list also have limited check writing capabilities, so you’re probably better off looking elsewhere for a decent rate.

Kinecta Federal Credit Union’s IRA options

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How Kinecta Federal Credit Union’s IRA CD rates compare

Kinecta Federal Credit Union’s IRA CD rates fall short when looking at other competitors. Many have rates at least double what’s advertised with Kinecta Federal Credit Union and also offer Traditional and Roth IRA options. Truth be told, if you’re looking for the best possible rates, you’re better off checking out our list of the current best IRA CD rates.

Advertiser Disclosure: The card offers that appear on this site are 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 card companies or all card offers available in the marketplace.

Sarah Li Cain

Sarah Li Cain |

Sarah Li Cain is a writer at MagnifyMoney. You can email Sarah Li here

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

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