Security Service Federal Credit Union Review: Checking, Savings and Certificates
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- Certificates of deposit
Overall institution rating
3.5
Security Service Federal Credit Union was founded in 1956 to benefit members of the U.S. Air Force Security Service Command and operates branches in Colorado, Texas and Utah. The credit union participates in shared branching, so you can bank for free at thousands of other locations. Security Service offers a full range of accounts, loans, insurance and other financial products. Its basic checking account is solid with a monthly fee only for paper statements, while its interest checking account includes identity theft protection and other perks — but also a tough-to-avoid monthly fee. Keep in mind, though, that if you’re looking for a basic savings account, Security Service’s rate is even lower than the national average, which isn’t competitive.
» Want more options? See NerdWallet's analysis of the best credit unions.
Pros
- No monthly fee on some checking and savings accounts.
- Large, free, nationwide ATM network.
- Participates in shared branching with other credit unions.
Cons
- Low rates on some savings accounts.
- Limited branch access.
- Limited membership.
- Low-rated mobile apps.
Full review
Certificates of deposit
CD
Federally insured by NCUA
2.5
/5 NerdWallet ratingThe credit union’s standard certificates require a minimum opening deposit of $500. That’s less than what some banks require, but some online banks don’t have any minimum opening deposit requirement at all. Its rates are higher than at traditional banks, but lower than online banks’ offerings. The range of terms stretches from three months to seven years.
» COMPARE: Best CD rates
Methodology
NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.
