Friday, March 17, 2023

Best Credit Union In Houston

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How Did We Choose The Best Banks In Texas

Smart Financial is one of the Best Places to Work

We looked at the top 10 biggest banks and credit unions in the state, plus state financial institutions featured in our Black-owned banks and credit unions guide and Hispanic American-owned banks and credit unions guide.

When searching for the best accounts, we honed in on those that paid high-interest rates and offered unique features.

For the best credit union and the best local bank, we chose institutions that provided the strongest overall banking experience: great customer service availability, easy membership requirements, and accounts with low minimum opening deposits and zero monthly fees.

Savings Rates At The Largest Banks In Texas

Below, you’ll see the savings rates from the biggest banks in Texas. To give you an idea of comparison, the national average APY for savings accounts as of August 2022 is 0.10%, according to the FDIC.

While some of these institutions aren’t featured, you might still want to consider banking with one of these institutions if you’re familiar with them.


*BBVA was acquired by PNC Bank in 2021. All BBVA customers will get new PNC accounts and become PNC clients.

Best Bank For Opening A Checking Account: Bank Of America

  • Access to over 4,200 branches and 16,000 ATMs
  • New Bank of America customers may receive a $100 bonus until 12/31/2022 when you open a Bank of America Advantage Banking account with a Bank of America associate who enrolls you in offer, and set up direct deposit for $1,000 or more within the first 90 days of opening the account
  • Waive $12 monthly service fee by doing one of the following: receive $250/month in direct deposits, keep $1,500 minimum daily balance, enroll in Preferred Rewards, or be a student under age 24
  • If you use Balance Connect and link your checking account to a backup account, there’s a $0 overdraft protection transfer fee
  • FDIC insured

Why it stands out: Bank of America nabbed a spot on our best national banks guide as the best national bank in the Southwest. It’s matched with Chase for having the largest ATM network by a brick-and-mortar bank and has one of the largest branch networks among US banks.

Bank of America has a variety of checking account options. With the Bank of America Advantage Plus Checking Account, there are several ways to waive the monthly service fee.

What to look for: Be careful of overdrawing from your account. Bank of America charges a $35 overdraft fee. While it offers overdraft protection, you’ll still pay a fee if you transfer money from a savings account.

Another fee to watch out for is out-of-network ATM fees. You’ll have to pay a $2.50 fee each time you use an ATM that’s not from Bank of America.

Also Check: Commonwealth Credit Union Lexington Ky

What Should Someone Look For In A Brick

Tania Brown, CFP:

“How can that bank grow with you? If you are 25, single or newly married, and all you need is a checking account, that’s going to look very different 15 years from now when you may have had a couple of jobs, you may have an IRA roll over, or you may want a financial advisor.”

Mykail James, CFEI:

“How accessible it is. So where are the branches? And if I am to go out of town or something, how accessible is my money to me?”

Is The Money In Credit Union Accounts Safe

Houston Federal Credit Union

Yes. Like the Federal Deposit Insurance Corp., which handles banks, the National Credit Union Administration insures customers deposits in case a credit union fails. All federally chartered credit unions must carry NCUA insurance. It covers credit union members deposit accounts: checking, savings, and money market accounts, as well as share certificates. The NCUA insures up to $250,000 per depositor, per institution, per ownership category. Ownership category refers to account types such as single or joint .

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Experts’ Advice On Choosing The Best Financial Institution

To learn more about what makes a good bank or credit union and how to choose the best fit, four experts weighed in:

Here’s what they had to say about finding a bank.

Do Credit Unions Check Your Credit

When it comes to getting a loan, a lender will typically pull a credit report on you, whether its a bank, a credit union, an online lender or another type of company. But for checking and savings accounts, policies vary. Its more common for financial institutions to pull up your report through a service known as ChexSystems, which records information such as past bounced checks and overdrafts.

The only sure way to find out which reports your credit union pulls when deciding to approve you for membership or products is to ask.

» Learn more about how to clear your ChexSystems report

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Best For Military Members: Navy Federal Credit Union

  • DoD reservists, civilian employees, civilian retirees and annuitants
  • U.S. Government employees and DoD contractors assigned to DoD installations
  • Family and household members of the groups above

Locations: NFCU has 341 branches in 31 states and is based in Vienna, Virginia.

Mobile and online features: Members can access common mobile and online features, including mobile check deposits, bill pay and transfers. Plus you can send and receive money with Zelle.

Noteworthy financial products: NFCU credit cards received the highest overall satisfaction score in J.D. Power’s 2019 Credit Card Satisfaction Study, excelling in terms, benefits, services and rewards.

The Visa Signature® Flagship Rewards Credit Card is a standout offering. Cardholders enjoy a complimentary year of Amazon Prime, a reasonable 9.99% to 18.00% variable APR and up to $100 credit for Global Entry or TSA PreCheck applications every four years.

NFCU also offers a range of other credit cards, checking and savings accounts, personal, auto and student loans, mortgages and more.

Signia Return For Credit Form

Credit Union Reviews 2022: 5 Best Credit Unions To Join With Bad Credit Reviews

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Also Check: Coast Central Credit Union Crescent City

First Choice Credit Union Ottawa Il

Category: Credit 1. First Choice Credit Union Our free checking account includes: a free VISA debit card, home banking, mobile banking and mobile deposit capabilities. And if you are looking for an account First Choice CU Main Office hours, phone, reviews, map at 311 E Joliet Street, Ottawa, IL. First

How Can Someone Determine Whether A Bank Is The Right Fit For Them

Mykail James, CFEI:

“The No. 1 thing about a checking account is you should know what provider the debit card is coming from. And a lot of people don’t think about that, because there are places that don’t accept MasterCard or don’t accept an Amex.”

Laura Grace Tarpley, Personal Finance Insider:

“I would look for the bank that charges you the least in fees. This means either no monthly fees or you qualify to waive the monthly fees. If you never overdraw from your account, then a bank’s overdraft fees won’t matter much to you. But if you occasionally overdraw, then I’d look at the fees or overdraft protection options.”

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Best Credit Unions In Harris County Texas

There are 92 credit unions that have a branch in Harris County, Texas. 92 of these credit unions offer Auto Loans, 78 offer Checking Accounts, 9 offer Credit Cards, 78 offer Debit Cards, 54 offer a Mobile App, 21 offer Mobile Check Deposit, 44 offer Mortgage Loans, 78 offer Online Banking.

Below is a directory of the best credit unions with at least one branch location in Harris County, Texas. Click on a credit union’s name for details including a membership application, eligibility, services offered, contact info, map of branches and ATMs..


First Tech: Best Credit Union For Member Experience

JSC Federal Credit Union

Checking and savings options: First Tech Federal Credit Unions Rewards Checking earns 0.50% APY on balances of $15,000 or less, as long as you meet three requirements, including receiving e-statements and making 20 monthly debit or credit card purchases totaling at least $500. Meet the qualifications, and First Tech will also refund up to $15 per month for non-network ATM transactions within the country. Savings yields are less impressive, and the highest rate account has a $5,000 minimum to open.

Eligibility, branches and ATM access: One way to qualify for membership is becoming a member of the nonprofit Financial Fitness Association, which costs $8.

First Tech operates its own branches in eight states , and it participates in the Co-op Shared Branch network, which gives members access to nearly 6,000 branches and 30,000 ATMs at other credit unions. It also offers 24/7 customer service by phone, social media support and well-rated mobile apps.

» Looking for great yields on long-term savings? Check out NerdWallet’s best CD rates this month.

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Chase Personal Line Of Credit

1. Small Business Loans & Lines of Credit Chase Bank Chase has various lines of credit thatll have working capital and cash available to you when you need it. Apply for lines, starting at $10,000. Learn more Chase Bank Personal Loan Alternatives Chase doesnt offer personal loans. Financing may

Houston Texas Credit Union Savings Rates 2022

Certain rates on this table are from advertisers. Compensation may impact the order in which rates appear.

This is to inform our readers that BestCashCow has received compensation for the placement of this bank offer.

Houston, TX – August 23, 2022

Savings Account National Average Rate: 0.10%?

BestCashCow strives to maintain the most accurate rates.If you believe a rate is not accurate, please .

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Best Bank For Opening A Savings Account: Ally

  • Savings buckets help you save for different goals
  • Surprise savings transfers help you save extra money from your checking account
  • Create separate savings buckets in a savings account
  • Link to your Ally checking account and enroll in surprise savings transfers to have extra money transferred to savings three times per week
  • Interest compounded daily, paid monthly
  • FDIC insured

Why it stands out: Ally is a solid contender if you’re looking for a savings account. It pays 1.75% APY, requires no minimum opening deposit, and doesn’t charge monthly fees. The Ally High Yield Savings Account has online tools that help you separate your money into savings buckets.

If you previously struggled to reach customer service in the past, you may like Ally’s approach it offers 24/7 customer support over the phone and through live chat.

What to look out for: As an online-only bank, Ally doesn’t have a direct way to deposit cash. You’ll have to transfer your money from another account to deposit cash.

Why Trust Our Recommendations

Create Your Dream Home

At Personal Finance Insider, our goal is to create helpful content to help you make good decisions about your money. Every person is different, so we provide ample options so you can find the most suitable financial product or account for you.

We research extensively to make sure that you know the standout features and limitations of a financial institution.

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Best For Apy: Consumers Credit Union

How to join: Applying for a Consumers Credit Union membership is a two-step process: First, pay a one-time, non-refundable $5 fee to CCUs sponsor, the Consumers Cooperative Association. Second, deposit and maintain a minimum $5 balance in your Membership Share/Savings Account.

Locations: Consumers Credit Union is based in Gurnee, Illinois, and has 11 branches across the state. CCU is also part of the CU Service Centers® Network, which provides access to over 5,000 and 30,000 co-op ATMs, primarily located in the U.S.

Mobile and online features: Many member reviews of CCU say the mobile app is outdated, but you do have the ability to pay bills, transfer funds and deposit checks. You can also perform these actions online .

Noteworthy financial products: The Consumers Credit Union Rewards Checking Account offers up to 4.09% APY on balances up to $10,000, which is more than 100X the national average of 0.04%. This account also has no monthly maintenance fees, no minimum balance requirement and provides unlimited reimbursement for all ATM fees.

CCU also offers members a range of checking and savings accounts, mortgages, personal and auto loans, credit cards and more.

What’s The Safest Bank To Put Money In

Financial institutions are safe if they are federally insured or National Credit Union Administration .

When a bank account is federally insured by one of these institutions, up to $250,000 is protected in individual bank accounts and up to $500,000 is secure in joint bank accounts. If a bank shuts down, you’ll still have your money.

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Are Online Credit Union Accounts Different From In

Using your credit union online is similar to using a bank online: You can typically deposit checks, pay bills, review your transactions and transfer money to your other accounts or friends and family. If you live close to one of your credit unions branches, you can get help there, too but being able to transact online is especially handy if youre not near one.

Do The Best Credit Unions Pay More Interest Than Banks

Memberâs Choice Credit Union

But it’s not hard to find an online bank that pays higher rates on savings and checking than the average credit union.

If youre comparing your credit union to big, brick-and-mortar banks, the credit unions rates will probably come out on top. But if youre comparing it to an online bank, the competition might be tougher.

Read Also: First Community Credit Union Texas

Best Bank For Opening A Checking And Savings Account: Pnc Bank

  • Access to 8,500 PNC ATMs
  • Minimum account balance of $1 to earn APY
  • To waive the $5 monthly service fee, you must keep at least $300 in your account monthly, connect your savings account to a PNC checking account, set up a $25 Auto Savings transfer each month from a PNC checking account, OR be under 18 years of age
  • Interest compounded daily, deposited monthly
  • FDIC Insured

Why it stands out: PNC Bank is the fourth-largest financial institution in Texas. Its PNC Bank Standard Savings Accounthas a low minimum opening deposit. There’s a $5 monthly service that can be waived in several ways. One way is if you connect your savings account to a PNC checking account.

The PNC Bank Virtual Wallet® is the bank’s online checking account. It has a budgeting tool that keeps tabs on when you get money deposited into your account and when you have to pay bills. It will also notify you if you’re likely to overdraw from your account.

What to look out for: Customer support is limited. Other online banks offer 24/7 customer support, but PNC representatives are only available during select hours during the week.

Why it stands out: Navy Army Community Credit Union is a Hispanic American-led institution that doesn’t charge monthly service fees.

Navy Army Community has 19 branches, and it is part of the CO-OP Share Network, which provides access to over 30,000 free ATMs and 5,600 shared branch locations.

Best Local Bank: Gecu

  • 12 branches in El Paso, Texas, and part of the CO-OP Shared network
  • To become a member, you or a family member need to work or live in El Paso County, Dona Ana County, or Hudspeth County
  • To earn APY, you need to maintain $100 in your account daily
  • Interest compounded and deposited quarterly
  • Federally insured by the NCUA

Why it stands out: GECU is an excellent choice if you’re exploring local banking options.

GECU is a certified community development financial institution and . It’s been certified to ensure that it provides products and services that serve everyone in the community, regardless of immigration status or income.

The credit union lets you use a permanent resident card, foreign passport, or Matricula Consular as a photo ID. Instead of a social security number, you may share your ITIN number.

GECU offers free checking and savings accounts with low minimum opening deposits. Its CDs also pay high interest rates.

What to look out for: To be eligible for membership at GECU, you or a family member must live in an eligible county or work for a specific employer. If you’re searching for a high savings rate, other institutions may offer a better rate.

Also Check: Credit Union For Business Accounts

Does The Small Amount Of Interest Gained On A Time Deposit Make Sense Given The Fact That I Am Losing Access To My Capital

This is a decision that depends on your own specific circumstances, your needs for cash, and other investments that you may wish to pursue over the next 12 months . The premium in a one-year CD is very small, however, a small difference in compounding interest can make a large difference over long period of time. You may wish to familiarize yourself with our Savings Booster Calculator in order to understand the importance of compounding interest at higher rates on your money over time.

Best For Low Interest Credit Cards: First Tech Federal Credit Union

Fortune’s Best Workplaces for Millennials (TM) | Navy Federal Credit Union

How to join: The simplest path to First Tech membership is to join the Community History Museum or Financial Fitness Association . The first year’s membership fee for the CHM or FFA is paid by First Tech, and you can cancel the membership after opening an account with no impact on your First Tech membership.

Other ways to become a member include:

  • Employee or retiree of partner company or the State of Oregon
  • Work or live in Lane County, Oregon
  • Student at Cogswell Poly Technical College
  • Family or household relationship with a current member
  • Member of a partner club or association

Locations: First Tech has 39 branches in eight states and Puerto Rico and is based in San Jose, California. Like CCU, First Tech is also part of the CU Service Centers® Network, which provides access to over 5,000 and 30,000 co-op ATMs, primarily located in the U.S.

Mobile and online features: FTFCU offers online and mobile bill pay, the ability to transfer money, integration with Zelle and mobile check deposit.

Noteworthy financial products: First Tech has some of the best low interest credit cards around. The Platinum Mastercard® from First Tech Federal Credit Union offers a low 7.74% to 18.00% variable APR while the Choice Rewards World Mastercard® from First Tech Federal Credit Union similarly offers a 9.75% – 18.00% variable APR.

First Tech also offers a variety of checking and savings accounts, IRAs, mortgages, personal, auto and student refinance loans and more.

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