Kinecta Federal Credit Union Review

Find out if Kinecta Federal Credit Union is right for you.

Kinecta Federal Credit Union has been serving Southern California for over 80 years. It prides itself on donating and investing time in more than 100 nonprofit causes — some suggested by employees — to make the community a better place. This credit union offers many products and financial services, including checking and savings accounts, personal loans and real estate and auto buying centers.

This ultimate guide to Kinecta Federal Credit Union will cover:

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Who Is Kinecta Federal Credit Union Best For?

Kinecta Federal Credit Union is specifically geared toward customers who live in Southern California. As a member, Kinecta partners can get deals with local companies, as well as discounts at theme parks and LA Galaxy games. Kinecta membership is specifically open to:

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  • Any immediate family or household member of a Kinecta member
  • Any Select Employer Group (SEG) employee and their immediate family or household members
  • Any member of the Innovision Society, which requires a $10 nonrefundable membership fee to Innovision Society (a standard $5 will be charged as well for the application)
  • Any resident, employee or student in ZIP codes of Anaheim, Lancaster, Rialto, Santa Ana and the Greater Los Angeles area (not all ZIP codes apply)

If you wish to fill out an online application to become a member, you are required to be 18 years or older with a valid Social Security number. You will need to bring a valid U.S. government ID, such as a driver’s license, U.S. passport or military ID. You must be able to provide contact information, proof of residence and job information and bring a check or money order to fund your new account.

Kinecta Federal Credit Union Pros and Cons
Pros Cons
  • Deals and discounts with local businesses and attractions
  • 24/7 free online banking access
  • Free mobile banking
  • First box of checks free
  • Exclusive to Southern California residents
  • High average monthly balance for checking accounts
  • Low checking and savings interest rates

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Who May Want To Skip Kinecta Federal Credit Union?

In spite of its unique set of local benefits, Kinecta Federal Credit Union won’t suit every type of customer. Customers who prefer a predominantly online or mobile banking experience should look at larger online banks that provide service nationwide. Though it offers a decent online and mobile banking experience, Kinecta Federal Credit Union focuses its efforts on the brick-and-mortar locations in Southern California. If you do not reside within this region, this credit union might not be a great fit.

Kinecta Federal Credit Union: Who’s It For?
Best for customers: Worst for customers:
Seeking in-person customer service Seeking an online banking experience
High-yield money market account available Those looking for more competitive interest rates
Looking for a local bank feel Who do not reside in Southern California
Who like straightforward and easy account options Who want more than basic account types

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Types of Accounts Available

Although it doesn’t offer a comprehensive lineup of accounts, Kinecta Federal Credit Union does provide basic types of accounts that many customers seek. Here’s a look at the bank’s current product lineup.

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Kinecta Federal Credit Union Accounts 
Product APY Minimum Balance
Classic Checking N/A N/A
Checking Plus Up to 0.35% Varies
Savings Account 0.05% $5
Regular CDs Rates vary depending on balance or term $1,000
Jumbo CDs Rates vary depending on balance or term $100,000
Liquid CDs 1.45% $1,000
College Saver CDs 2.00% $1,000
High-Yield Money Market Account Rates vary depending on balance or term $10,000
Traditional IRA Rates vary depending on balance or term Varies
Roth IRA Rates vary depending on balance or term Varies

Here’s a closer look at each individual product area offered by the credit union.

See: The Best Banks of 2020

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Kinecta Federal Credit Union offers a Classic Checking and a Checking Plus account. Both accounts come with mobile banking and check deposits, free bill pay with payment guarantee, nationwide co-op ATM access and nationwide co-op branch access. A Classic Checking account will also get you the following:

  • No monthly fee with qualified accounts
  • First box of checks free
  • Access to 30,000 surcharge-free co-op ATMs
  • Free account alerts
  • Free online banking
  • Free bill pay
  • Free mobile banking
  • Free remote deposit

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There are quite a few stipulations attached to these benefits, though. For example, the owner or operator of the ATM is more than welcome to charge a fee. The Classic Checking account will accrue no monthly service fee if the direct deposit amount is $250 per month, $1,500 average monthly balance, 10 or more debit purchases per month, active Kinecta credit card in good standing, among others. Make sure to familiarize yourself with the fine print before opening an account. Checking Plus has even higher direct deposit and monthly balance requirements — $500 and $2,500, respectively — though it is interest-earning on qualifying balances.


  • No monthly fees
  • Free bill pay
  • Free online and mobile capability


  • ATM fees in the fine print
  • Considerable stipulations attached to checking account offer

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There is only one regular savings account offered by this credit union. The minimum balance for this account is only $5; however, the 0.05% APY is low compared to other savings accounts offered by more competitive financial institutions. Dividends for this account accrue daily but are paid quarterly. You can deposit or withdraw money at any time with 24/7 access to phone and online banking. Consumers can also borrow against their account balance at up to 100% of their funds.

In addition, Kinecta Federal Credit Union offers a holiday share account with no minimum balance requirements and the same APY.


  • Low or no minimum balance requirements
  • Borrow against up to 100% of your account balance
  • 24/7 online and phone banking access


  • Very low interest rates
  • No service fees listed on the website

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Money Market

This credit union boasts a high-yield money market account that challenges consumers to “make a move.” With a fairly competitive rate and no monthly fees, this money market account seems like a great account option. However, the $10,000 minimum deposit is a bit steep for the average consumer. And there is a $10 penalty for each withdrawal over six within a month. The balance tiers are as follows:

Kinecta Federal Credit Union Money Market Account
Balance APY
$10,000-$49,999 0.50%
$50,000-$99,999 0.90%
$100,000-$249,999 1.70%
$250,000-plus 1.70%
Rates are current as of March 18, 2020, and subject to change.


  • Competitive interest rates
  • No monthly balance fees


  • $10,000 minimum deposit
  • $10 penalty for each withdrawal after six within a month

Check Out: Best Money Market Accounts

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There are quite a few certificates of deposit options at Kinecta Federal Credit Union. These CD accounts often earn higher yields. For the most up-to-date CD rates and balance tiers, visit Kinecta’s website.

Here are the features for each certificate of deposit offered at this credit union:

Kinecta Federal Credit Union CD Accounts
Account Type Features
Regular CD Account
  • Flexible term lengths from 90 days to five years
  • Withdraw dividends without penalty
  • Borrow against your funds with a certificate loan
Jumbo CD Account
  • $100,000 minimum deposit
  • Flexible term lengths from 90 days to five years
  • Withdraw dividends without penalty
  • Borrow against your funds with a certificate loan
Liquid CD Account
  • Penalty-free withdrawals
  • Unlimited deposits
  • 12-month term with guaranteed rate
College Saver CD Account
  • Members up to 18 years old
  • Open an account with as little as $200
Youth Saver CD Account
  • Available at regular certificate yields
  • Minimum balance of $200
  • Not applicable with 18 month and five-year share certificate products


  • Flexible term lengths
  • Competitive interest rates
  • Withdrawals without penalties on certain CDs


  • Steep minimum balance requirements for some accounts

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Individual Retirement Accounts

Kinecta Federal Credit Union offers both a traditional and Roth IRA with various contributory, transfer and rollover plans available. A low minimum balance of $1,000 is required, and you can be eligible for tax advantages under certain plans.

IRA Money Market accounts offer the same 0.05% APY whether the minimum balance is above or below $2,500. Dividends are accrued daily and paid monthly.

IRA Contributory and Roth IRA accounts have the same APY as the money market account, with a minimum balance between $1 to $100 and dividends are paid quarterly.

Kinecta’s IRA accounts have flexible term lengths. For the most up-to-date rates and terms, visit Kinecta’s website.


  • Interest is paid monthly or quarterly
  • Variety of term lengths
  • Minimum balance of $1,000 for some accounts
  • Competitive interest rates


  • Considerable minimum balance requirements for some accounts

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Investment (Nonbank) Options

At this time, Kinecta Federal Credit Union does not offer any investment options.

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Kinecta Federal Credit Union offers a wide range of lending services, including auto, personal, business, home and student loans. Here are some of the features of these loans:

Kinecta Federal Credit Union Loans
Loan Type  Key Features
Auto Loans
  • Up to 100% financing on new and used cars
  • Flexible finance terms available
  • Financing available for cars, RVs, boats, motorcycles and travel trailers
Signature Loans
  • Loan amounts available $1,000 to $25,000
  • Loan amounts greater than your existing debt are given directly to you as loan proceeds
  • Rates as low at 9.24% APR for up to 60 months
Small Business Loans
  • Long-term/short-term working capital
  • Financing for furniture, fixtures, machinery, equipment, real estate and renovations
Home Loans
  • Wide range of fixed- and adjustable-rate loans up to $4 million
  • Local underwriting and processing
  • Closing costs discounts
Student Loans
  • Free Kinecta membership
  • Competitive rates for students and co-signers with good credit
  • Flexible payment terms
  • Rate reduction for choosing automatic payments

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How To Bank With Kinecta Federal Credit Union

You can open an account online with this credit union by following these steps:

  1. Click “Enroll” in the top right-hand corner of the homepage under “Kinecta Direct Login.”
  2. Read through and accept the services agreement.
  3. Click “Enroll” at the bottom of the page.
  4. Fill out the form with the required personal information (Social Security number, PIN number, date of birth, etc).
  5. Enter and confirm your email address.
  6. Click “Submit” at the bottom of the page once you’ve completed the form.

Learn: Best Regional Banks of 2020

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There are considerable fees at Kinecta Federal Credit Union, with some accounts pushing more monthly fees than others. The Classic Checking account will accrue a monthly fee of $4.95 based on various regulations outlined in the checking account section above. The Checking Plus account has a $9 monthly fee with similar regulations, including needing a $2,500 average monthly balance or direct deposit more than $500 during the first three months of a new account. Retrieving a copy of a paid check will result in a $3.50 charge.

If you keep $250 in your regular share accounts, you will not have to pay the $5 monthly service fee. The only fees associated with any IRA account are related to transfers and closeouts, which are $25 each. The money market accounts have a $10 excessive transaction fee, which was outlined in the money market section of this guide.

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Availability of Funds

Kinecta Federal Credit Union makes funds available on the next business day after it receives your deposit. Electronic deposits should be available on the day the funds are received by the credit union. Please be aware that every day is considered a business day, except Saturdays, Sundays and federal holidays. If a deposit is made before 6 p.m. at a local branch or before noon at a Kinecta-owned ATM, the credit union will consider that particular day the day of your deposit. However, it is important to note these cutoff hours since funds will be available the following business day when Kinecta Federal Credit Union is back open.

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Should You Bank With Kinecta Federal Credit Union?

Kinecta Federal Credit Union offers a wide range of financial services and products to local residents of Southern California. Its member benefits are unique, with local deals and discounts to a variety of events and attractions. Both the money market and CD accounts have fairly competitive interest rates; however, rates for the checking and savings accounts leave a lot to be desired.


  • Better local branch and in-person service
  • Competitive interest rates for money market and CD accounts
  • Fantastic local deals and discounts for members


  • Exclusive to Southern California residents
  • Maintenance and activity fees and high minimum balance on certain accounts
  • Low interest rates on checking and savings accounts

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Rates and fees are accurate as of March 11, 2020, and are subject to change. This content is not provided by Kinecta Federal Credit Union. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone and have not been reviewed, approved or otherwise endorsed by Kinecta Federal Credit Union.

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