Tinker Federal Credit Union has several good deposit deals on both CDs and a reward checking account. For CDs and IRA CDs, the best rates include a 2.32% APY 3-year CD and a 2.53% APY 4-year CD. Minimum deposit is $99K. Rates that are 15 basis points lower are available with a $10K minimum deposit. These rates are listed in the credit union's rates page as of 1/7/2011.
The credit union's reward checking account is called Click Checking and it has a rate of 3.25% APY on balances up to $30K, and a rate of 0.50% for balances over that (as of 1/7/2011). To qualify for these rates, the following monthly requirements must be met: 10 debit card purchases, 1 online bill payment, 1 direct deposit or ACH transfer, access online banking and receive e-statements. If these aren't met, the rate falls to 0.40%. There are no monthly service fees.
Both the reward checking rate and balance cap are above average. As a comparison, the best rate for balances up to $25K that's available nationwide is 3.03% APY at Coulee Bank. Oklahoma seems to have several institutions that offer above average rates and balance caps. Two of the best include FAA Credit Union which offers 4.10% APY on balances up to $30K and Communications FCU which offers 4.00% APY on balances up to $30K.
Membership into Tinker FCU is open to those who live in parts of the Oklahoma City metro area. And as you might expect, those who work at the Tinker Air Force Base are also eligible to join. Please refer to the credit union's membership page for the full details.
The credit union has an overall health score at DepositAccounts.com of 4 out of 5 with a Texas Ratio of 6.40% (excellent) based on September 2010 data. It's a sizable credit union with $2.35 billion in assets. Please refer to our financial overview of Tinker Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 24524).