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Which Credit Union(S) Should I Join/Do you Recommend?

uhwtm2
  |     |   21 posts since 2023

I realize many people might answer "Whichever one has the current hot deal."

But I'm curious to get responses from you about what credit unions you think it's good to be a member of, and why.

For instance, perhaps ones with a long history of good deals, or ones that allow rare things, like Add-Ons to IRAs (NavyFed), EWP-free IRA withdrawals after a certain age (NWFCU), generally low EWP, ones good for a hub account etc etc.... or just in general, ones that you have found to be worth it to have joined.

Of the ones I'm a member of, I've found I've continued to use only a few of them for real after the current "hot deal" expires. I was going to sign up for Nasa for their 15mo CD special, but then saw that they do a Hard Pull and don't know if it's worth it for a Hard Pull for Nasa (sometimes a hard pull is indeed worth it---but I've had enough Hard Pulls from places that were one-hit wonders).

So please, your suggestions on credit unions worth being a member of, maybe along with a short sentence on why. Many thanks!

(I don't do reward checkings, but mostly CDs & savings, IRAs and HSAs).

For my suggestions:

NAVYFED (if eligible): good deals on credit cards (1.75% cash back), some good rate specials, and usually allows you to add to an IRA CD Jan-Apr.

ALLIANT: Not top of anything but quite good on a lot of things, very easy to use, allows 25k ACH and generally good policies, rates and mild EWP.

GTE: If you're careful to avoid their many high fees (which you can if you're careful) they offer good CD rates and mild EWP.

INTERIOR FCU: EWP is so-so (180 for up to 3yrs, 365 for 4+) but they do have decent rates at times, and is one of the only places that let you have an HSA CD (at same rates, no fees, same EWP).

What are your recommendations?

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5


blazer9
  |     |   228 posts since 2019
Everyone has different needs.
You did pick out some but keep searching
the Blog or Forum. EVERY Bad or Good account has already
been reviewed Many times. My 100k in Andrews 7m 5% will
net around 2k at end of month.
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txFish1
  |     |   479 posts since 2023
I have been a member of United States Senate FCU for many years. I mainly have CD's with them as they usually have better than average rates and twice I have been able to get them to do a rate match on a jumbo CD. Their savings account rates are not that great but I do not use them for that. Also a positive they usually have really good auto loan rates and I have found their customer service is above par.
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SouthernGirl
  |     |   210 posts since 2022
txFish1,
Does USSFCU rate match for new CDs? Does USSFCU rate match for maturing CDs? Give an example of your rate match. Specifically, do you think USSFCU would match new jumbo CD rate of Xcel FCU, GTE, NASA, or Numerica CU for the longer terms of 48 to 59 months?
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txFish1
  |     |   479 posts since 2023
SouthernGirl USSFCU matched one jumbo CD that had matured and I was doing a wire transfer out to another CU and the CSR asked me why so after I told her she said she would have a Mgr call me which she did and was able to rate match it that day. The other instance was I had a jumbo CD that still had 1 year left of a 5 year CD. The USSFCU 5 year was paying almost 5% so I called in and asked if they would allow me to break the CD and put it in their new 5 year 5% CD with no EWP. They had to get back to me the next day and they did approve the new rate with no EWP
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3
txFish1
  |     |   479 posts since 2023
Also I think it matters who you get to speak with as with the 2nd scenario I mention above I had to try twice to get it done
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txFish1
  |     |   479 posts since 2023
SouthernGirl I do not know if they wil rate match new money CD's as both of mine were existing Jumbo CD's with them
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SouthernGirl
  |     |   210 posts since 2022
txFish1,
Wow! Thanks, for the awesome reply! As investors, this is what we have to share!!! In both scenarios, will you share the approximate month and year for the rate match and rate conversion?
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txFish1
  |     |   479 posts since 2023
SouthernGirl The rate conversion was early this year in Feb/Mar. I had taken out a CD with them in Mar 2019 and it had a little over a year left on it. They converted it to the new 5 year Jumbo rate which got me an extra 1.2% over what I was getting. The rate match happened just a couple of months ago in April 2023 with a joint Jumbo CD I that had matured and I was wiring out that I guess they wanted to keep the funds. Both CD's I currently have with them I now take the monthly income. They deposit in my savings acct there and then I just ACH it to my external checking acct. Have dealt with them since 2015 mostly CD's and a car loan and I have been lucky not to have had even one issue with them
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Rickny
  |     |   1,298 posts since 2017
Andrews .. High rates and they called me to ask if I wanted to change my current CDs to higher rate CDs with no EWP.
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planxy
  |     |   140 posts since 2013
To rule out bad actors, many of whom have great deals " open nationwide." Always ask if they do hard pull as noted (should not be endured for less than $200 benefit over deals from current providers not requiring.) If responded we look at credit, that's hard pull. Nope out. If asked for additional information after the long initial application seemingly has been accepted (utility bills, pay slips, second government issued photo ID, photo not scan of DL) to make deposits, nope out. Applying in a local branch is usually helpful in proving you are not a terrorist to unintelligent negativists.
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Rickny
  |     |   1,298 posts since 2017
A credit hit may ding your score 5 to 7 points. I also see that scores vary especially at the bank and CU sites. I just opened a Wells Fargo checking account for a $300 bonus. 4 weeks ago I opened a Wells Fargo 2 % Cash Back card for a $200 bonus (Did one for my spouse last year for $200). My score went from 820 to 813. The difference between these scores is meaningless. On another site .y score is 850. Experian site has me at 815.
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GregoryInBelize
  |     |   193 posts since 2022
I saw Wells Fargo has a $525 savings account bonus too for $25k for 90 days. They can be combined from what I read.
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Rickny
  |     |   1,298 posts since 2017
Greg Only 1 at a time and also 2 per year on checking. The $300 bonus can be done online. I believe a branch visit is required for the $525. I did a $700 bonus with Wells a couple years ago which required in brach visit. Had to spend an hour and get sales pitches from branch person and their financial advisor.
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Rickny
  |     |   1,298 posts since 2017
Sorry 1 per year checking
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GregoryInBelize
  |     |   193 posts since 2022
I just talked with my old neighbor. He said he was able to open both at the same time (in branch with no sales pitch). $300 for checking and $525 for savings
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Rickny
  |     |   1,298 posts since 2017
The $525 is in branch. "Open a new eligible consumer savings account at a Wells Fargo branch with a minimum opening deposit of $25 by June 27, 2023".
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