Security Service Federal Credit Union Review: Great Rates Plus ID Theft Protection
-
Rates
4.8
-
Breadth of Products
5.0
-
Accessibility
4.3
-
Fees
5.0
Pros
- Power Protected Checking account includes optional 24/7 identity theft protection for just $6 a month.
- Interest-bearing checking account with low or no maintenance fee.
- Access to 5,000 shared branches and 30,000 free ATMs nationwide.
Cons
- Membership is limited to those who live or have a connection to just three states.
About Security Service Federal Credit Union
Security Service Federal Credit Union has 66 branch locations in Texas, Colorado and Utah.
You may qualify to become a member of Security Service Federal Credit Union if:
- You live, work, worship, attend school, volunteer or own a business in Texas, Colorado, or Utah.
- You are a member of a military branch or a Department of Defense employee at specific bases in the SSFCU service area.
- You are a family household member of an existing member.
Security Service Federal Credit Union Products
Security Service Federal Credit Union offers a full menu of products, including checking and savings accounts, money market accounts, certificates, home and vehicle loans, investments and insurance. As a credit union, interest rates are very competitive, since credit unions are owned by their members and therefore have no shareholders.
| Product | Features |
|---|---|
| Checking Accounts |
|
| Savings Accounts |
|
| Money Market Accounts |
|
| CD Accounts |
|
| Loans |
|
| Investments |
|
| Insurance |
|
Security Service Federal Credit Union Checking Accounts
Security Service Federal Credit Union offers three checking accounts. Power Protected Checking includes optional identity theft protection, as well as dark web and social media monitoring for a $6 fee per month. Power Checking is basic checking with no minimum balance or monthly maintenance fees. Youth Power Checking for teens 13 to 17 helps to build good financial habits.
Features
- Free online statements
- No monthly maintenance fees for Power Checking and Youth Power Checking.
- Power Protected Checking pays interest based on account balance, ranging from 0.05% APY to 0.65% APY.
Pros
- Earns up to 0.65% APY for highest account balances.
- ID monitoring Power Protected Checking includes social media and dark web monitoring, and more.
Cons
- Monthly charge for paper statements for Power Checking account
Security Service Federal Credit Union Savings Account
Security Service Federal Credit Union offers three savings accounts, each paying 0.05% APY. Basic Savings has no monthly fee if you maintain a $100 balance across all accounts or have a Power Checking account. Youth Savings account has just a $5 minimum balance and is available to children under 18. Club Savings helps you save for annual expenses such as holiday shopping and can be opened with as little as $5.
Features
- Open an account with just $5
- No minimum to earn interest
Pros
- Youth and Club Savings have no monthly fees; Basic Savings’ monthly fee is waived with a $100 balance across all accounts, or if you have a credit union checking account.
- Interest paid on any size balance
Cons
- Basic Savings has a fee if you don’t keep $100 in your accounts or have an SSFCU checking account.
Security Service Federal Credit Union Money Market Account
Security Service Federal Credit Union offers a money market account for those who want to earn a higher interest rate, yet have the ability to write checks and have automatic withdrawals — up to six times per month. Interest rates on money market accounts range from 0.05% APY to 0.25% APY.
Features
- Minimum opening balance is $1,000.
- Maintain $1,000 daily balance to avoid a $10 monthly maintenance fee.
- Tiered interest rates based on your balance.
Pros
- Up to six transactions per month
- Higher balances earn higher interest rates
- Check-writing and ACH privileges
Cons
- $10 per month service fee if balance falls below $1,000
Security Service Federal Credit Union CD Accounts
Certificates, the credit union equivalent of a CD, provide a guaranteed interest rate for a specified period of time. Typically, the higher the balance, or the longer the term, the higher the interest rate. Security Service Federal Credit Union offers the Traditional Certificate and Future Builder Certificate with terms of three months to seven years.
Features
- $500 minimum opening deposit for Traditional Certificate
- Interest rates depend on the balance and length of the term, and range from 0.05% APY to 1.00% APY
- One year Future Builder CD has a $250 minimum opening deposit and allows additional deposits and withdrawals during the term of the certificate.
Pros
- Higher interest rates for longer terms
- Higher interest rates for larger opening deposits
- Interest rate guaranteed
Cons
- Early withdrawal penalty might apply with Traditional Certificate
Banking Experience
Customer service is available through the Member Contact Center at 888-415-7878. Hours are Monday-Friday, 7 a.m. to 10 p.m. CST, and Saturdays from 9 a.m. to 6 p.m. CST. While SSFCU has branches only in Texas, Colorado and Utah, members can use 5,000 shared branches nationwide.
Mobile and Digital Experience
Security Service Mobile is SSFCU’s mobile app. It is available on the App Store, where it has a rating of 2.7 out of five stars, and on Google Play, where it has a rating of only 1.9 stars.
How To Open an Account
You can open an account at Security Service Federal Credit Union online, by phone or by making a virtual appointment.
Key Information
Customer Service: 888-415-7878
Customer Service Hours:
- Monday-Friday, 7 a.m. to 10 p.m. CST
- Saturdays from 9 a.m. to 6 p.m. CST
Routing Number: 314088637
Security Service Federal Credit Union Fees
While most Security Service Federal Credit Union accounts have no monthly service fees or have fees that can be waived, there are other fees you could incur. Here are some examples:
| Type | Amount |
|---|---|
| Overdraft | $32.50 |
| Official check | $5 |
| Money order | $2 |
| Domestic wire transfer | $15 |
| International wire transfer | $61 |
| Stop payment | $25 |
Customers who have a Power Protected Checking Account get one free official check or one free money order per month.
Security Service Federal Credit Union vs. Competitors
It’s important to shop around if you’re thinking of changing banks or opening an account with a new bank. Here’s how Security Service Federal Credit Union stacks up to the competition.
| Bank | Best For |
|---|---|
| Security Service Federal Credit Union | Good rates and account security tools |
| Navy Federal Credit Union | Interest-bearing checking |
| Ally Bank | Internet only |
| Wells Fargo Bank | Nationwide branches and ATMs |
Security Service Federal Credit Union vs. Navy Federal Credit Union
Navy Federal Credit Union has five checking account offerings to choose from, all of which earn interest. Security Service Federal Credit Union stands out, however, for its security offering that protects against identity theft and monitors social media activity.
Security Service Federal Credit Union vs. Ally Bank
Ally Bank is an internet-only bank, and lower costs allow the bank to offer higher rates on savings accounts. Security Service Federal Credit Union, however, has local branches as well as online and mobile banking, and customers have access to shared branches across the U.S.
Security Service Federal Credit Union vs. Wells Fargo Bank
With 7,200 branches and 13,000 ATMs, you’re never far from a Wells Fargo location. Security Service Federal Credit Union is owned by its members, however, and therefore can offer higher interest rates.
Final Take
If you are fortunate enough to qualify for membership, Security Service Federal Credit Union is well worth a look. With a full suite of financial services products, competitive interest rates, and a compelling identify theft prevention offering, SSFCU is a great choice.
More Banks With Competitive Rates
Bank Branches
- Ally Bank
- Amboy Direct Bank
- BankDirect
- Barclays Bank
- Comenity Direct
- CIT Bank
- EmigrantDirect
- Marcus by Goldman Sachs
- iGObanking
- Investors Bank
Credit Unions
- Bellco Credit Union
- Eastman Credit Union
- Lake Michigan Credit Union
- State Employees’ Credit Union
- Wright-Patt Credit Union
Editor’s Favorite
Security Service Federal Credit Union’s ID monitoring service provides 24/7 identity theft protection, dark web and social media monitoring, and even mobile phone coverage – all for just $6 a month with your Power Protected Checking Account.
Security Service Federal Credit Union FAQ
Here are the answers to some commonly asked questions about Security Service Federal Credit Union.- Does Security Service Federal Credit Union have Zelle?
- No. Security Service Federal Credit Union does not offer Zelle or other P2P options for money transfer.
- What is Security Service Federal Credit Union Routing Number?
- 314088637.
- Can anyone open an account at Security Service Federal Credit Union?
- No. You must be eligible to be a member, which means you need to live, work, worship, attend school, volunteer or own a business in Texas, Colorado, or Utah; be a member of a military branch or a Department of Defense employee at specific bases in the SSFCU service area; or be a family household member of an existing member.
- Is Security Service Federal Credit Union FDIC insured?
- No. Like most credit unions, deposits at Security Service Federal Credit Union are insured by the National Credit Union Administration, up to $250,000 per depositor.
- Does Security Service Federal Credit Union offer free money for signing up for an account?
- There currently are no account opening bonuses being offered by Security Service Federal Credit Union. The financial institution, however, offers cash back and rewards on many of its credit cards.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Feb. 5, 2021.
This content is not provided by Security Service Federal Credit Union. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Security Service Federal Credit Union.
