Tuesday, 24 November 2020

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

Market USA Federal Credit Union Review: Checking, Savings, CD, Money Market and IRA Accounts
01 Dec
11:30

Market USA Federal Credit Union’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

0.05%

Savings

Market USA Federal Credit Union Savings Account

2.00%

American Express National Bank High Yield Savings Account

on American Express National Bank’s secure website

Member FDIC

2.41%

CD Rates

Market USA Federal Credit Union 12 Month Preferred CD

2.85%

Synchrony Bank 36 Month CD

on Synchrony Bank’s secure website

Member FDIC

2.65%

CD Rates

Market USA Federal Credit Union 36 Month Preferred CD

3.10%

Goldman Sachs Bank USA High-yield 5 Year CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

3.01%

CD Rates

Market USA Federal Credit Union 60 Month Preferred CD

2.80%

Synchrony Bank 14 Month CD

on Synchrony Bank’s secure website

Member FDIC

Market USA Federal Credit Union checking account options

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How Market USA Federal Credit Union’s checking accounts compare

When you take a look at rates (if the account even offers them), the only true standout at Market Federal Credit Union is its VIP Checking account, which offers an APY that’s even more generous than those on our list of the best online checking accounts. The catch, however, is that you have to qualify for its two tier programs to be able to earn it.

If you can’t meet the requirements outlined above, we say consider one of the accounts on our list instead. The only other Market USA product that offers the chance to earn interest, the Regular Checking account, offers a sub-par rate with a high balance requirement to even earn it. The Fresh Start Checking account is a nice touch: it allows people the chance to rebuild a bad checking history with minimal requirements, even if it doesn’t offer the chance to earn interest.

Market USA Federal Credit Union savings account options

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How Market USA Federal Credit Union’s savings accounts compare

While the Membership Savings account allows account holders to earn interest at four different tiers, even the highest rate doesn’t compare to the accounts on our roundup of the best online savings accounts.

Still, this account is a requirement for joining the credit union, and while it can’t hurt to have it if you’re interested in one of Market USA Federal Credit Union’s other products, we wouldn’t recommend seeking the credit union out for this account alone.

Market USA Federal Credit Union CD rates

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How Market USA Federal Credit Union’s CD rates compare

Even with the additional premium added to these CD rates, none of them really compare to those on our list of the best CD rates, save for the 20-month promotional special. Even though the deposit requirements are on the lower end, we would still recommend considering one of the CDs on our list instead.

Market USA Federal Credit Union money market account option

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How Market USA Federal Credit Union’s money market account compares

Even the highest tier’s rate on this account doesn’t compare to any on our list of the best money market account rates. Some of the accounts on our list offer rates more than twice as high, with minimum balance requirements that are much lower than what Market USA Federal Credit Union requires. We strongly urge you to consider one of those instead.

Market USA Federal Credit Union IRA options

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How Market USA Federal Credit Union’s IRA CD rates compare

Just like the regular certificates, these IRA certificates just don’t stack up to the ones on our list of the best IRA CDs available. If you’re saving for retirement, take the time to do your research to make sure you’re really getting the most out of the money you’re socking away. Consider one of the CDs on our list instead.

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.

Emilia Benton

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

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