Thursday, 26 November 2020

State Employees’ Credit Union Review: Checking, Savings, CD, Money Market and IRA Accounts

State Employees’ Credit Union Review: Checking, Savings, CD, Money Market and IRA Accounts
28 Oct
3:19

State Employees' Credit Union (NC)’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

0.75%

Savings

State Employees' Credit Union (NC) Share Accounts

1.90%

American Express National Bank High Yield Savings Account

on American Express National Bank’s secure website

Member FDIC

1.80%

CD Rates

State Employees' Credit Union (NC) 12 Months Share Term Certificate

2.55%

Goldman Sachs Bank USA High-yield 12 Month CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

2.30%

CD Rates

State Employees' Credit Union (NC) 36 Months Share Term Certificate

2.85%

Synchrony Bank 36 Month CD

on Synchrony Bank’s secure website

Member FDIC

2.55%

CD Rates

State Employees' Credit Union (NC) 60 Months Share Term Certificate

3.10%

Barclays 60 Month Online CD

on Barclays’s secure website

Member FDIC

State Employees’ Credit Union’s checking account options

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How State Employees’ Credit Union’s checking accounts compare

We’re a bit so-so about these accounts. On one hand, State Employees’ Credit Union charges a monthly fee and there is no way to get out of it, although it is a very small monthly fee and it goes to a good cause (this only applies to the regular Checking account; the Z-Checking account fees are not donated). On the other hand, these accounts each offer a small amount of interest, and they come with a small overdraft fee, especially compared to some of the big banks.

However, if you’re looking to earn the most money possible and don’t care where your bank is based, try checking out these top-yielding online checking accounts instead.

State Employees’ Credit Union’s savings account options

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How State Employees’ Credit Union’s savings accounts compare

We like the savings accounts State Employees’ Credit Union offers for two reasons: it offers relatively high interest rates especially when compared to most credit unions, and it offers a diversity of unique accounts that help people save for tough situations.

For example, the Summer Cash account can help teachers who already have a hard enough time making ends meet these days. The very high savings account rate offered on this account combined with the forced savings plan and automatic distribution can help make it just a bit easier on North Carolina’s educators.

Still, there are online savings accounts that offer much better interest rates, and it’s worth checking out these options as well before settling on a parking space for your money.

State Employees’ Credit Union’s CD rates

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How State Employees’ Credit Union’s CD rates compare

The rates that State Employees’ Credit Union offers for its CD products are not bad  — however, they’re also not great. We do like its CD laddering program, although it’s not unique to State Employees’ Credit Union. You can ladder CDs in any which way you want at any bank, as long as you’ve got a plan. If you want to find the best CDs to make a CD ladder with or just to earn extra money with on their own, we recommend these current best CDs.

State Employees’ Credit Union’s money market account options

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How State Employees’ Credit Union’s Money Market Share account compares

State Employees’ Credit Union offers good rates on its Money Market Share account. It’s really strange that you can’t write checks, however, since that’s usually the functional defining factor between these two accounts. If you need the ability to write checks from your money market account, or want to earn a higher interest rate, these top money market accounts might be just the ticket for you.

State Employees’ Credit Union’s IRA account options

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Lindsay VanSomeren

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Source: https://www.magnifymoney.com/blog/reviews/state-employees-credit-union/

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