Travis Credit Union

How to make your savings work for you

Travis Credit Union

It’s always a good idea to have options, and Travis Credit Union gives you these options. A few years ago, nobody 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.

Travis Credit Union is located in Vacaville, Northern California, and they offer their clients many products and services which can help them in their everyday lives.

They currently have 22 branches and span over 12 counties. They are part of the credit union movement of the 1930s, which spawned from the Great Depression. The Union is also federally insured up to $250,000, by the National Credit Union Administration – NCUA, which is the main body that governs credit unions.

Travis Credit Union is part of the CO-OP ATM network, and have an agreement with TCU which gives their customer’s access to more than 30,000 ATM’s within the U.S. and Canada. You do not have to pay a fee when using these ATM’s.

Their website also allows you to search using specific parameters so that you can find an ATM that is closest to you.

Products and services offered at Travis Credit Union

Travis Credit Union has made a name for themselves in the market by providing more than you could expect from a credit union. Not only do they have a whole list of checking and savings accounts for their clients, but they also have insurance products and other investment options such as money market accounts and insurance products.

The TCU checking account

Travis Credit Union has many checking accounts that offer you all the features you are looking for in a checking account. With all of their checking account options, you will have great access to online banking, free bill paying, access to their 30,000 CO-OP ATM network, a free debit card, a free visa card, and a free I.D. theft assistance.

All the funds in your checking and saving accounts are insured through NCUA up to an amount of $250,000.

TCU Checking accounts at a glance

Account
Features
Free
Checking
Access
Account
Silver Wings
Checking

(Age 60+)
Dividend
Checking
Investor
Checking
No Minimum Balance N/A N/A
I.D. Theft Assistance
Online Banking
Online Bill Pay
Mobile Banking
Access to the 30,000 CO-OP Network ATMs
Charges for use of Non
CO-OP Network ATMs
$1.50 $1.50 $1.50 $1.50 4 free per month, $1.50 each after.1
Access to a Visa Debit Card
Access to the 24-hour Phone Banking
Dividends
Overdraft Transfer Fee $5.00 Free $5.00 Free
Checks Cost varies
by design selected.
N/A Cost varies
by design selected.

Free checking account

This is a checking account that is absolutely free, which means that you do not pay anything for using the Account. I mean, it doesn’t get better than that!

There are no monthly fees, you don’t need to have a minimum balance, meaning you can withdraw every single cent from your Account, and you get to have access to a visa debit card with your photo I.D. on it.

Access Account

This is a simple debit card account that connects to your mobile phone and the company website. This means that you can efficiently operate your Account from whichever location.

Here are some of its main features;

  • A Visa debit card.
  • Automatic enrollment to the Travis Credit Union electronic statements.
  • Free mobile banking and bill paying services.
  • No overdraft fees. The transaction will automatically be disconnected when there are insufficient funds in your Account.

An access account is just a traditional checking account, without the checks feature. You can still withdraw cash, buy groceries, pay for gas, pay for dinner, and perform all other debit card purchases using the visa card.

The best part is that you can never over withdraw your Account and end up with a negative balance.

Teen checking account

As the name suggests, this is a checking account for young people who are ready to take up their financial responsibilities by opening an account. If you are a young person wishing to access this Account, all you need to do is open an account from any TCU branches.

Silver Wings Checking Account

This is also a free checking account with the added benefit for people over the age of 60 years. The Account does not have a minimum operating balance or a monthly ledger fee. You get to one free box of classic checks and dividends can be paid through the Account.

Share Certificates and Smart Start Certificates

A share certificate from Travis 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. TCU 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 basically 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 a 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. Travis 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

Why choose Travis Credit Union?

Benefits:

It is nonprofit, and therefore, it is solely owned by the customers, which means that their services are mostly customer-oriented. This is the reason why you will always experience the best customer care in their offices.

Better interest rates. This is one of the main reasons why most people opt to use a credit union rather than a bank. Their loan interest rates cannot be compared to what you shall find in a bank, and they enable you to earn more from your deposits compared to a bank.

As a nonprofit, they pass most of their surplus income to their members, by making the interest to be earned on deposits higher.

Low fees – TCU will pass savings to their members by charging less for operating your Account, such as withdrawals.

Working as a community – Since it is owned and operated by the members, there is a strong sense of community and the fact that most of the services are geared towards helping everyone in the neighboring community.

Limitations of Travis Credit Union:

Well, as much as we claim that credit unions offer the same services as a bank, they are not banks, and as such, they tend to fall short in one or two areas. Here are some limitations of TCU that you need to be aware of;

Membership: Unlike banks, where you can walk in, open an account, and begin operations, Travis credit union requires you to become a member first. You must also qualify for membership since they have rules and regulations that must be followed to achieve this.

There may also be a membership fee of about $5-$25 and a minimum operating deposit in some of their accounts, as shown in the table below. When you need to take a loan, in most cases, they will give you a specific amount based on your savings, which is not always a great thing.

Conclusion

As far as Credit Unions go, Travis Credit Union is one of the best, and as you can see, they have your best interest at heart. They have some of the most diverse products and services, and they go a step further to offer you investment advice so you can be successful in everything.

The loan products are just as diverse, and with the low-interest rates, this is a company that can help you grow financially.

If you are a student, make sure to check out their private student loans, which can go a long way in ensuring that your college fees are well taken care of. In addition, they will help you save money while still in school, and pay you interest on your savings.

What I love most about this company are their checking accounts which have zero operational fees and balances.

This is definitely a company worth checking out.

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