Monday, 30 November 2020

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

Security Service Federal Credit Union Review: Checking, Savings, CD, Money Market and IRA Accounts
29 Oct
7:45

Security Service Federal Credit Union’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

0.10%

Savings

Security Service Federal Credit Union Basic Savings Account

1.90%

American Express National Bank High Yield Savings Account

on American Express National Bank’s secure website

Member FDIC

1.90%

CD Rates

Security Service 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

Security Service Federal Credit Union 3 Year CD

2.85%

Synchrony Bank 36 Month CD

on Synchrony Bank’s secure website

Member FDIC

2.90%

CD Rates

Security Service 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

Security Service Federal Credit Union checking account options

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How Security Service Federal Credit Union’s checking accounts compare

Although the Power Protected Checking account does offer some decent rates when compared with our list of the 10 best online checking accounts, it requires a high account balance minimum in order to get those rates. Also, you’re stuck with a maintenance fee unless you can maintain the balance amount required to waive it. Sure, it’s pretty cool that you can get a personalized debit card, but that perk isn’t worth it considering there are much higher rates out there, plus many of these online banks also offer free checks and no fees.

Security Service Federal Credit Union savings account options

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How Security Service Federal Credit Union’s savings accounts compare

The basic savings account for the credit union falls way short when compared with other options offered online. Most of these account have no minimum balances or fees. If you’re looking to maximize your savings with a higher APY, you’re better off looking at our list of the current best online saving accounts.

Security Service Federal Credit Union CD rates

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How Security Service Federal Credit Union’s CD rates compare

Security Service Federal Credit Union’s CD rates are pretty much on par with what’s being offered out there. The minimum deposit amount is lower than what’s currently being required by some of the banks on our list of the best CD rates.

In addition, the Future Builder Share Certificate is unique in that it gives account holders the opportunity to make additional deposits or withdrawals before maturity. The rate is slightly lower, but it could be worth it if you value the flexibility.

Security Service Federal Credit Union money market account option

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How Security Service Federal Credit Union’s money market account compares

The rates for the Security Service Federal Credit Union Money Market account isn’t anywhere near the rates we’re seeing on our list of the best money market rates. Many of its competitors don’t have minimum opening deposits and some even offer limited ATM and check-writing access. If you’re after a flexible money market account that offers better rates, you’re better off going elsewhere.

Security Service Federal Credit Union IRA options

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How Security Service Federal Credit Union’s IRA CD rates compare

The rates for the IRA CD are slightly lower than what’s being currently offered out there. While some of the banks and credit unions on our list of the best IRA CD rates require a higher minimum opening deposit, the rates could be worth it. If you’re looking to maximize your retirement savings, you may be better off shopping around.

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.

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/security-service-federal-credit-union/

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