IUCU - A better choice
Written: Jan 09 '01 (Updated Jan 09 '01)
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Product Rating:
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Pros: Interest rates, customer service, online banking
Cons: none
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| MSDough's Full Review: Indiana University Employees Federal Credit Union |
My wife and I joined IUCU in December 2000. I know we haven't been with them long but my wife's parents, brother, and sister have all been with them for years. We joined for a few different reasons.
1)Since my in-laws have been with them for so long and have never had a problem with them I figured that they must be doing something right.
2)We were looking for an institution that had online banking.
3)We also wanted a bank/credit union that gave some catchy interest rates(see below). They had some of the highest in the area.
It became an obvious choice as to who we were going to bank with since IUCU does all this and then some. I personally have banked with some of the other local banks and had trouble with just about all of them.
They also provide online banking which we have found pretty easy to use. They also have a debit card like most others. They refer to theirs as a Flash Check Card(we do not have since we only opened savings for now).
According to the chart that we got from IUCU the rates are as follows:
Account Type / Interest / Minimum Balance
Regular, Special Christmas / 2.50% / .01
Money Market Savings (has different levels of interest)
$ .01- 999.99 / 2.50% / .01
1,000.00- 9,999.99 / 3.00% / 1,000.00
10,000.00- 24,999.99 / 6.25% / 10,000.00
and so on...
CD's
1 year paid monthly / 7.00% / $500.00
18 month pd monthly / 7.10% / 500.00
2 year pd monthly / 7.20% / 500.00
2 1/2 yr pd monthly / 7.25% / 500.00
3 yr pd monthly / 7.30% / 500.00
4 yr pd monthly / 7.30% / 500.00
5 yr pd monthly / 7.35% / 500.00
6 yr pd monthly / 7.35% / 500.00
30 day pd at maturity / 3.30% / 2,000.00
90 day pd at maturity / 4.25% / 2,000.00
6 month pd monthly / 5.45% / 2,000.00
They also have special "JUMBO" rates for cd's of $100,000.
Like any other credit union you have to be eligible to join. The website has the list of employers and organizations that are eligible. You do not need to be an employee or student of Indiana University to be eligible. The list is way to long to list here. Here is the website link: <A HREF= http://www.iucu.org >IU Credit Union</a>
Recommended:
Yes
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Epinions.com ID:
MSDough
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Member: Matt D
Location: USA
Reviews written: 5
Trusted by: 15 members
About Me:
I am married and we have two sons. I am also active duty Navy.
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