Thursday, 26 November 2020

UNIFY Financial Credit Union Reviews: Checking, Savings, CD, Money Market, and IRA Accounts

UNIFY Financial Credit Union Reviews: Checking, Savings, CD, Money Market, and IRA Accounts
01 Nov
3:28

UNIFY Financial Credit Union’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

0.10%

Savings

UNIFY Financial Credit Union e-Savings

1.90%

American Express National Bank High Yield Savings Account

on American Express National Bank’s secure website

Member FDIC

1.75%

CD Rates

UNIFY Financial Credit Union 12 Month Share Certificate

2.55%

Goldman Sachs Bank USA High-yield 12 Month CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

2.25%

CD Rates

UNIFY Financial Credit Union 36 Month Share Certificate

2.85%

Synchrony Bank 36 Month CD

on Synchrony Bank’s secure website

Member FDIC

2.55%

CD Rates

UNIFY Financial Credit Union 60 Month Share Certificate

3.10%

Goldman Sachs Bank USA High-yield 5 Year CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

UNIFY Financial Credit Union’s checking account options

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How UNIFY Financial Credit Union’s checking accounts compare

If you’re looking at APY and minimum balance requirements alone, UNIFY Financial Credit Union’s checking accounts don’t even begin to compare with the best checking accounts on the market. On the “Best” list, even the account with the lowest APY is still twice the yield offered by UNIFY Financial Credit Union, and it comes with zero minimum balance requirements, which is quite the contrast to this credit union’s requirements.

The one account UNIFY Financial Credit Union has that may be worth opening is Right Start Checking. Yes, it yields no dividends, and no, ATM fees won’t be refunded to you at the end of the month. But if you’re flagged in the CHEXSystem, Right Start Checking can help you get your foot back in the door so you will actually be able to consider signing up for one of the better accounts further down the road.

UNIFY Financial Credit Union’s savings account options

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How UNIFY Financial Credit Union’s savings accounts compare

UNIFY Financial Credit Union’s savings rates simply aren’t in the same league as the competition. The best rates on the market are about 20 times higher than those you’ll find at this credit union. Be sure to comparison shop before you commit to a savings account as missing out on the higher APY could be a major mistake — especially if you’re putting a lot of money into your savings account.

You’ll can find other credit unions among the financial institutions offering the best savings rates. If supporting a community and smaller businesses is important to you, you can still get great rates without going to one of the bigger banks.

UNIFY Financial Credit Union’s CD rates

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How UNIFY Financial Credit Union’s CD rates compare

Simply put, there are better CD rates available if you’re willing to shop at other financial institutions. However, UNIFY Financial Credit Union’s rates on its certificates are far more competitive than they are on other products like its checking and savings accounts. If you’re nervous about opening a certificate, as your money will be inaccessible for the term of your CD, UNIFY Financial Credit Union’s lower early withdrawal rates may help put your mind at ease, despite the lower APY. Keep in mind, though, that this would likely pan out to be a win in your mind rather than in your wallet in the long run.

UNIFY Financial Credit Union’s money market account option

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How UNIFY Financial Credit Union’s money market account compares

The best money market offers on the market provide somewhere around double to quadruple the APY you’ll find at UNIFY Financial Credit Union. There is little incentive to open a money market account here with so many other good options around.

As you’re shopping, be sure to consider not just the APY, but also any minimum balance requirements and monthly maintenance fees. If you end up getting charged for falling below any given minimum balance requirement, that may start to eat away at the advantage you’ve built by choosing a financial institution that offers a higher APY.

UNIFY Financial Credit Union’s IRA options

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How UNIFY Financial Credit Union’s IRA CD rates compare

While UNIFY Financial Credit Union’s rates on certificate products are much closer to being competitive than its rates on other checking and savings products, they are still not the best around. Be sure to do some comparison shopping on IRA CDs, as it could reward you with a couple of extra percentage points in APY.

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

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

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