Tuesday, 24 November 2020

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

Police and Fire Federal Credit Union Review: Checking, Savings, CD, Money Market and IRA Accounts
10 Dec
5:19

Police and Fire Federal Credit Union’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

0.10%

Savings

Police and Fire Federal Credit Union Savings

2.00%

American Express National Bank High Yield Savings Account

on American Express National Bank’s secure website

Member FDIC

2.00%

CD Rates

Police and Fire Federal Credit Union 1 Year CD

2.55%

Goldman Sachs Bank USA High-yield 12 Month CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

2.40%

CD Rates

Police and Fire Federal Credit Union 3 Year CD

2.85%

Synchrony Bank 36 Month CD

on Synchrony Bank’s secure website

Member FDIC

2.60%

CD Rates

Police and Fire Federal Credit Union 5 Year CD

3.10%

Goldman Sachs Bank USA High-yield 5 Year CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

Police and Fire Federal Credit Union’s checking account options

magnifying glass

How Police and Fire Federal Credit Union’s checking account compares

Free PFFCU Checking ranks right up there with the best of the best checking accounts. High dividends and low fees make it one of the most competitive offers on the market.

That being said, if you plan on keeping more than $5,000 in checking, this may not be the account for you, as dividends drop after you hit that threshold. But if you’re living paycheck to paycheck like most Americans, this account is likely one of the best choices for you.

Police and Fire Federal Credit Union’s savings account options

magnifying glass

How Police and Fire Federal Credit Union’s savings accounts compare

While no or low fees make Police and Fire Federal Credit Union’s savings accounts appealing, that’s about where the benefits end. The interest is extremely low or nonexistent, and the fact that you can withdraw from a humdrum account at any time removes the main purpose of the account.

You will need the savings account to establish your membership. But after you’ve done that, look at this guide to high-interest savings accounts for your basic savings account needs.

Police and Fire Federal Credit Union’s CD rates

magnifying glass

Police and Fire Federal Credit Union’s money market account options

magnifying glass

How Police and Fire Federal Credit Union’s money market accounts compare

Each of Police and Fire Federal Credit Union’s money market accounts are separate beasts. On the one hand, Money Market Plus shouldn’t even be a candidate when you’re considering accounts to help you build your savings. Its interest rates are simply too low.

On the other, Premium Yield Savings pays a halfway decent APY, though its most competitive rates are only available to people who have $50,000 or more in savings.

Either way, you should shop around for other money market accounts before making any final decisions. You will find better offers with either higher APY offerings, lower minimum balance requirements or both.

Police and Fire Federal Credit Union’s IRA account options

magnifying glass

How Police and Fire Federal Credit Union’s IRA CD rates compare

Just as Police and Fire Federal Credit Union’s traditional certificates don’t carry the best rates, certificates inside of an IRA aren’t the most lucrative place to stash your money. You can find worse offers out there, but there are also plenty of financial institutions offering better. While it’s always important to check rates before making a commitment to a deposit account, the red tape and paperwork behind an IRA makes it even more important to shop around for other IRA CDs and get it right the first time.

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

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/police-and-fire-federal-credit-union/

« »

Szemere

Related Articles