NEW YORK— For Americans looking to perhaps move their business to a credit union, a new analysis from MSNBC Select is offering some recommendations for CUs it said stand out across a number of product offerings.
Among its recommendations:
Checking Accounts: Alliant Credit Union
MSNBC said Alliant CU offers a high-rate checking account with:
- No monthly fees
- Up to $20 in monthly reimbursement for out-of-network ATM fees
- Access to more than 80,000 in-network ATMs nationwide
- Mobile tools for deposits, payments and budgeting
MSNBC Select reported the account is designed for consumers seeking low-cost, accessible banking.
Savings Accounts: Quorum Federal Credit Union
MSNBC pointed to Quorum’s HighQ Savings account with:
- Competitive APY regardless of balance
- No minimum balance requirement
- No monthly fee with electronic statements
Membership is broadly accessible through partner organizations, with some fees covered by the credit union, according to MSNBC Select.
Mortgages
MSNBC Select identified two credit unions for homebuyers:
The report said FourLeaf FCU offers:
- Conventional, FHA, VA, jumbo and refinance loans
- Loan terms that include fixed (10–30 years) and adjustable-rate options
- Minimum credit scores: 620 (conventional), 580 (FHA)
- Down payments as low as 3% (conventional) and 3.5% (FHA)
- Membership available with a $5 deposit
- Lending nationwide except Texas
MSNBC Select said AFCU:
- Provides up to $12,500 in down payment or closing cost assistance for first-time buyers
- Offers an additional $1,500 in closing cost support for members with deposit accounts
- Includes a range of loan types: Conventional, FHA, USDA, VA, jumbo, refinance, HELOC and home equity loans
Moreover, it said down payment options include:
- 3% (conventional)
- 3.5% (FHA)
- 0% (VA and USDA)
Credit Cards
PenFed Credit Union’s Platinum Rewards Visa Signature Card
MSNBC Select said the advantages of the PenFed plastic include:
- 5X points on gas
- 3X on groceries
- 1X on other purchases
- No annual or foreign transaction fees
First Tech Federal Credit Union’s Choice Rewards World Mastercard
According to MSNBC, advantages of the card include:
- 2X points across multiple everyday categories
- 1X on all other spending
- $0 balance transfer fee
- 20,000-point welcome bonus after qualifying spend
Personal Loans: First Tech Federal Credit Union
MSNBC Select recommended First Tech for its:
- Loan amounts from $500 to $50,000
- Terms ranging from two to seven years
- Ability to check rates without impacting credit scores
- Option to defer the first payment for up to 45 days
- Interest continues to accrue during deferred periods, which could increase total repayment costs, MSNBC Select noted.
