Choosing a financial institution isn’t a decision to be taken lightly. Depending on your banking needs, you could end up getting nickeled and dimed at one bank, whereas another bank could save you those fees.
Read on to learn about Tinker Federal Credit Union and whether a credit union membership could save you money.
Click here to read about what a credit union is.
About Tinker Federal Credit Union
Tinker Federal Credit Union, located in Oklahoma City, serves the employees of over 700 area companies, along with Tinker Air Force Base and Vance Air Force Base. With over 363,000 members, 30 branch locations and $3.6 billion in assets, Tinker Federal Credit Union currently ranks as the largest credit union in Oklahoma.
Most branch locations have both lobby and drive-thru hours. Hours on Mondays through Fridays will vary, and some branches are open until noon on Saturdays.
Tinker Federal Credit Union Products and Services
Tinker Federal Credit Union offers a host of financial products and services, such as banking accounts, loans and credit cards. Find out if any of its offerings appeal to you.
TFCU Checking Accounts
Three checking account options are offered: Click, Classic and Heritage. The Heritage account, designed for people 55 and older, does not require a deposit to open, whereas both Classic and Click options require a $25 minimum opening deposit. None of the accounts have monthly service charges or transaction fees.
Here are the rates offered on the checking accounts:
- Classic: Non-dividend bearing account
- Click: 0.05% to 1.49% APY
- Heritage: 0.15% APY
Check Out: The Best Credit Unions to Join
TFCU Savings Accounts
A variety of savings options are available, such as the credit union’s savings accounts: Share Savings, Command Fund and Premium Plus.
TFCU’s Share Savings account establishes your TFCU membership. With only a $5 opening deposit and minimum balance, most people can open this account and begin earning dividends.
The Command Fund, an insured money market account, requires a $2,000 opening deposit and minimum balance. The Premium Plus is a tiered money market growth fund, which requires a $10,000 opening deposit and minimum balance.
IRAs, share certificates and special savings accounts to save for holidays or special events round out TFCU’s savings offerings. And for children up to age 18, the SaveAbles Kid’s Club account is available.
Here are the rates for TFCU’s savings options:
- Share Savings: 0.35% APY
- Command Fund: 0.10% to 0.40% APY
- Premium Plus: 0.10% to 1.00% APY
- IRA: 0.40% APY
- Share Certificate: 1.36% to 2.43% APY
TFCU offers a host of loan products as well. No matter if you’re looking for a personal, vehicle, mortgage loan or credit card, TFCU has options. Here are the rates:
- Loans secured by savings: 2.50% APR above the dividend rate paid
- Other secured loans: 6.45% to 13.45% APR
- Personal unsecured loans: 9.95% to 16.99% APR
- Auto loans: 3.24% to 11.99% APR
- Mortgage loans: 4.421% to 4.894% APR
- Credit cards: Intro rate is 0.00% to 3.99% APR; after that, the rate will be between 8.40% and 16% APR, depending on the type of credit card.
TFCU’s Additional Services
In addition to offering financial products, TFCU has a variety of financial services available to its members. Here are a few:
- Direct deposit
- Mobile app with check deposit
- E-statements and check images
- Financial coaching
- 24/7 phone access to your accounts
Additionally, TFCU has its own network of no-fee ATMs, plus members have access to TransFund surcharge-free ATMs.
Pros and Cons of Tinker Federal Credit Union
Taking a look at the drawbacks and benefits of a credit union can help you decide if you want to open an account. Some of the most notable pros that come with using Tinker Federal Credit Union are no-fee checking and savings accounts, low opening deposits on accounts and competitive rates. One drawback is that most people who want to become a member must qualify through their employer.
Is Tinker Federal Credit Union a Good Choice for Me?
Overall, Tinker Federal Credit Union is a solid option for those who are looking for fewer fees, lower rates and higher dividends. But becoming a member might be an issue, depending on your qualifications.
Rates are current as of 4/26/2018