Sunday, 20 October 2019

Robins Financial Credit Union Review: Checking, Savings, CD, Money Market and IRA Accounts

Robins Financial Credit Union Review: Checking, Savings, CD, Money Market and IRA Accounts
12 Dec
6:19

Robins Financial Credit Union’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

0.50%

Savings

Robins Financial Credit Union Savings Account

2.00%

American Express National Bank High Yield Savings Account

on American Express National Bank’s secure website

Member FDIC

0.75%

CD Rates

Robins Financial Credit Union 1 Year Share Certificate

2.65%

Goldman Sachs Bank USA High-yield 12 Month CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

2.30%

CD Rates

Robins Financial Credit Union 3 Year Share Certificate Special

2.85%

Synchrony Bank 36 Month CD

on Synchrony Bank’s secure website

Member FDIC

1.50%

CD Rates

Robins Financial Credit Union 5 Year Share Certificate

3.10%

Goldman Sachs Bank USA High-yield 5 Year CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

Robins Financial Credit Union’s checking account options

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How Robins Financial Credit Union’s checking accounts compare

Most of the checking account options at Robins Financial Credit Union don’t charge a monthly service fee, which we like. They also have low opening deposit requirements and no minimum balance requirements. The added benefit of unlimited withdrawals and deposits on most accounts, free in-network ATMs, and a generous monthly ATM fee refund policy makes these accounts competitive.

However, when you compare them to the best online checking accounts, they fall short in terms of APY. Only one checking account at Robins Financial Credit Union earns interest, and it requires a hefty minimum balance in order to earn. Several online checking accounts earn higher rates with no minimum balance amount, no monthly service fee, and ATM fee refunds. In fact, several online checking accounts offer unlimited ATM fee refunds, which can save you a lot of money.

Robins Financial Credit Union’s savings account options

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How Robins Financial Credit Union’s savings accounts compare

The savings account options offered by Robins Financial Credit Union are simple and pair well with their checking accounts. We typically prefer savings accounts with no monthly service fees, and these savings options do charge a monthly fee. However, it is easy to waive, and the credit union offers several different routes for doing so.

Still, the best online savings accounts don’t charge any monthly service fees at all, and they offer interest rates that are often three or four times higher than what Robins Financial Credit Union provides.

Robins Financial Credit Union’s CD rates

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How Robins Financial Credit Union CD rates compare

When compared to the best CD rates, many of Robins Financial Credit Union’s certificate rates fall short. The rates on their 12 Month, 18 Month, 2 Year, and 5 Year certificates are particularly easy to beat.

However, their 11 Month, 15 Month, 3 Year, and 4 Year certificates do offer competitive rates. On top of that, their 15 Month certificate offers the added flexibility of a lower minimum deposit requirement and a one-time penalty-free withdrawal, which can be hard to find. Most of the competition has a higher minimum deposit amount than what’s required on Robins Financial Credit Union’s 12 Month and 15 Month CDs, which require lower deposits than the rest of their CDs. There are a few competing institutions offering CDs with no minimum deposit and higher rates than Robins Financial Credit Union.

Robins Financial Credit Union’s money market account options

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How Robins Financial Credit Union’s money market accounts compare

The rates on Robins Financial Credit Union’s money market accounts aren’t the most competitive. When compared to the best money market rates, they fall short at every tier. Folks with deposits large enough to land them in one of the higher tiers will find significantly better rates elsewhere, but there are even a couple online banks offering money market accounts with no minimum deposit requirement, no monthly service fee, and noticeably higher rates.

Robins Financial Credit Union’s IRA account options

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How Robins Financial Credit Union’s IRA CD rates compare

The most competitive IRA CD offered by Robins Financial Credit Union is their 11 Month IRA Certificate, which gives customers rates that come close to many of the best 12 month certificates offered by other institutions. Their 3 Year and 4 Year certificates a good APY, although it can be beaten by a number of credit unions and online banks. The rest of the IRA certificates offer less-than-ideal rates.

Ultimately, the IRA CDs offered by this credit union just don’t stack up against the best IRA CD rates. They do offer a little extra flexibility and lower minimum deposit amounts, but even these factors can be matched elsewhere.

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Source: https://www.magnifymoney.com/blog/reviews/robins-financial-credit-union/

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