Arrowhead Credit Union

This is a credit union that is headquartered at Rancho Cucamonga. It is the 37th largest credit union in the state of California and the 215th largest in the nation. You may think that 215 is a bad position, but there are over 5,000 registered credit unions in the United States, and hence, this is an excellent position for the company.

It was founded in 1949, and as of 2019, had managed to grow to over 157,000 members with an asset base of $1.42 billion. This is a well-trusted credit union.

A few years back, no one understood much about credit unions or the products they offer, but now, they have become large financial institutions that can be compared to banks.

The beauty of this development is that it enables you as the consumer to decide which one to use. You are no longer limited when it comes to your financial options, and as such, the products and services are better and perfectly suited to your specific requirements.

Products and services offered at Arrowhead Credit Union

Checking account

This is one of their most popular accounts. It has excellent features, and you can open the account with as little as $25. There are no monthly charges with this account, and no minimum balance required, which means that you can practically operate it at zero.

When you open the account, you shall be issued with a free visa debit card, which is instantly issued at that bank, and this will give you access to their more than 30,000 ATMs across the country because they are part of the CO-OP group of companies.

This account gives you 24 hr. Access to their online banking platform, plus mobile banking apps. With these options, you can be able to use the free bill paying feature, the direct deposit feature, with free personalized and unlimited check writing.

Checking account charges
Monthly Service Fee No fee with eStatements or average daily balance of $50,000, otherwise $5
Courtesy Pay / Non-Sufficient Funds Fee $31
Returned Deposit Item $10
Stop Payment
Bill Pay Checks $26
CU Hear/ Online Banking $20
In Person, Mail, Phone $26
Wire Transfers
Incoming Wires Free
Domestic Outgoing $30
Levies $30 each
Money Order $3
Cashier’s Check (payable to third party) $5

Dividend checking account

As the name suggests, this is an account that will pay you dividends. The account is opened with as little as $100, and you shall be able to start earning dividends on any balances over $2,500. There are no monthly fees if your account is maintained at the above dividend balance, and you shall have a debit card that gives you access to the over 30,000 ATMs.

Summary of Account features

Avg. Daily Bal APY*
$0.00 – $2,499.99 0.00%
$2,500 – $24,999.99 0.03%
$25,000 and above 0.08%
Monthly Fee None with $2,500 avg. daily balance, otherwise $10
Courtesy Pay / Non-Sufficient Funds Fee $31
Returned Deposit Item $10
Stop Payment
Online Banking/Bill Pay $26
CU Hear / e-Branch $20
In person, Mail, Communication Center $26
Outgoing Wires
Incoming Wires Free
Domestic $30
Notary Fee $10/signature
Continuous Negative Balance Fee
(when negative balance exceeds $5.00
for 15 consecutive calendar days)
$20/occurrence
Levies $30 each
Money Order $3
Cashier’s Check (payable to third party) $5

Home town hero checking account

Well, this is an account that you will not find in most banks or credit unions. The hero checking account is designed for the heroes in the community such as the police, firefighters, paramedics, the military, and those who work with the department of corrections.

Account features

  • No monthly fees.
  • Free and exclusively designed hero checks.
  • A 1,000 dollar 12-month equipment loan and you do not require a direct deposit to qualify for the loan.
  • Samsung, Apple, and Google pay, which are convenient ways of paying for your purchases.
  • A free visa debit card that is issued immediately you open the account.
  • Access to the over 30,000 ATMs in the CO-OP network.
  • 24 hr. Access to online and mobile banking apps.
  • A direct deposit of funds.

A summary of the hero checking account

Monthly Service Fee No fee with eStatements or average daily balance of $50,000, otherwise $5
Courtesy Pay / Non-Sufficient Funds Fee $31
Returned Deposit Item $10
Stop Payment
Bill Pay Checks $26
CU Hear/ Online Banking $20
In Person, Mail, Phone $26
Wire Transfers
Incoming Wires Free
Domestic Outgoing $30
Levies $30 each
Money Order $3
Cashier’s Check (payable to third party) $5

Teen’s Checking account

As the name suggests, this is an account for teenagers, i.e., anyone between the ages of 13 and 17. It is an account that is specifically geared towards helping them save at an early age and giving them the financial freedom everyone deserves.

This account has the following features

  • It will require the teen to open with an adult guardian or parent.
  • The opening balance is $25.
  • When you open the account, you will immediately be issued with a free visa debit card, which you can use for withdrawals across all of the ATMs.
  • There are no monthly charges on the account.
  • The account doesn’t have a minimum balance.
  • There are daily limits to purchases and withdrawals, which helps teach the young ones about financial responsibilities and how to stick with budgets.
  • It gives teens the financial responsibilities of a checking account.
  • Parents can enjoy security when they know that their teenagers are carrying cards rather than cash.
  • There is free access to all the ATMs with this account.
  • Access to free mobile and online banking.
  • You can transfer money quickly from the parent/guardian’s account to help the teen with savings.

Savings Accounts

Arrowhead credit union gives you the freedom to save and earn interest on your savings. This saving account requires an initial investment of only $25. You shall start earning dividends on any balances above $100.

The savings account does not have any monthly charges, and neither shall you be charged for electronic transfers of $25 or more.

This account has overdraft facilities.

There is a free PIN and ATM.

Money market account

This is an exclusive savings account that offers very high-interest rates than the traditional saving accounts you are familiar with. It is also more flexible than the CD which we shall talk about next.

With a Money Market account, you can enjoy the convenience of having speedy access to your funds, and hence achieve your savings goals faster, since you shall be earning more interest compared to any other account.

You can also be able to deposit, withdraw, and transfer funds without being charged any penalties, just like a traditional saving account.

Share Certificates and Smart Start Certificates

A share certificate from Arrowhead Credit Union is similar to any other certificate of deposit or CD from other banks. It is a type of savings vehicle that will generate for you more interest in exchange for a set term.

You have the option to buy the share certificate for seven different terms that range from 6months to 5 years. The longer the term you choose, the higher the interest rate you shall earn from your share certificates.

Whenever you commit a share certificate, you shall be committing to a long-term and lengthy-term with the credit union, and because this is an established company, it is not a risky venture, and in the future, you shall be able to make some good amount of money from your CD.

The minimum amount they require for a share certificate is $500.

All share certificates, therefore, have a minimum of 500 dollars, and the maximum deposit amount will depend on the amount insured by NCUA. This figure is $250,000. Arrowhead Credit Union will allow you to choose the type of certificate you want.

This, therefore, means that you have an option to have it as part of your retirement account, or a Coverdell education saving account, or a health saving account. It is a tax advantage, and it means that you will not pay taxes on the interest it will earn for you.

A high interest saving account

This is a savings account available in most banks and credit unions and has a high-interest rate. It is an account that is secured by the National Credit Union Administration – NCUA, an independent agency that was created by the U.S. government and whose primary purpose is to protect consumers while maintaining stability and public confidence.

Most credit unions that offer this feature will mostly have a minimum deposit amount, and most of them set this limit at $10,000. The annual percentage yield on your money will depend on the bank in which you are banking. Here are some options for you.

Health savings account

This is one of those features that you are not likely to find with other credit unions. Their health savings account enables you to save some money, so you can be able to pay for the rising cost of health care. In addition, your deductible contributions to this Account are never taxed, but you must classify them as medical expenses.

Fraud protection

Protecting your private account information is a top priority with the company, and they ensure that no third parties have access to your most private information. As we have mentioned above, all of your checking and saving accounts come with a free Identity theft protection feature, and in case you suspect any fraudulent activities in your accounts, you are required to report them immediately.

They have highly trained caseworkers who will guide you through the process and help you restore your identity and credit records.

In addition, they have personalized fraud protection kits that include valuable information about fraud protection and resolutions.

Investment products and services

This is yet another distinguishing feature with this credit union. They provide investment opportunities for their clients. Arrowhead Credit Union has a wide range of investment products and services, plus they have well-trained staff who can assist you decide on the best options for you and how to build your investment portfolio.

They will give you good advice on the best investments and how to optimize your portfolio for high returns that minimize your risks.

Here are some of their best products.

  • Exchange-traded funds
  • Insurance
  • Asset allocation
  • Brokered C.D.s
  • Fixed and variable annuities
  • Mutual funds
  • Business planning
  • Retirement planning
  • College savings
  • Estate planning

Other credit unions I have reviewed include.

Conclusion

A good credit union should not only help you save your money, but also give you loans and other incentives at affordable rates. With Arrowhead credit union, there is so much more than what meets the eye, and you may need to visit their profile online or their offices to check out what else they have in store for you.

I can advise you to invest in your future through a credit union. One of the main benefits of being a member of one is the ability to share in the profits since they are usually member-owned. If the union makes money, then this money is shared with the members in accordance with their savings. Hence, the more the savings, the higher the share of the profit.

Visit their website – Arrowhead Credit Union, for more.

More Recipes
social fish
Why They Don’t Follow You On Instagram