Affinity Plus Federal Credit Union Review: Strong Money Market Account, Certificates – Business Insider

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The bottom line: You may like Affinity Plus Federal Credit Union if you want to earn high interest rates on a money market account or certificates. It’s also a good choice if you’re looking for a robust rewards program for perks like cash back and travel. But you’ll want to look elsewhere for a high interest rate on a savings account.
Free savings, checking, certificate, and money market account options
Low or no minimum opening deposits
Pays high interest rates on certificates and money market account
Rewards program
Affinity Plus Federal Credit Union has a few savings accounts, but you must open a Membership Savings Account when you join the credit union. There’s no monthly fee, and you can earn rewards to put toward cash back, travel, and other perks. It pays a low interest rate, though — you’d earn a much better rate with other online banks.
The Affinity Plus Federal Credit Union Better Than Free Checking Account doesn’t charge monthly service or ATM fees, and it waives one overdraft fee per year. Keep in mind that there’s no free overdraft protection, though. Your only option is an overdraft line of credit.
Affinity Plus Federal Credit Union is a good choice for opening a share certificate. It pays high interest rates, and you only need $500 to open an account.
The Affinity Plus Federal Credit Union Superior Money Market Account is on our list of the best money market accounts. It pays a high rate on balances under $25,000. To earn the competitive rate each month, you’ll need to be enrolled in e-statements and receive at least $500 in direct deposits.
Affinity Plus Federal Credit Union has 26 branches in Minnesota. If you don’t live in Minnesota, you can still open accounts online.
You may contact customer support Monday through Friday and Saturday mornings over live online chat, video chat, or the phone.
The credit union’s MyPlus Rewards program gives you points for spending money on your APFCU debit and credit cards, maintaining a certain amount of money in your accounts, and taking out loans. Redeem points in categories such as travel, cash back, donating to charities, and reducing your loan interest rates.
The Affinity Plus Federal Credit Union mobile app has 4.8 out of 5 stars in both the Apple and Google Play stores.
Your deposits are federally insured by the NCUA for up to $250,000, or up to $500,000 for joint accounts. This means your money is safe even if the credit union closes.
If you don’t live in Minnesota, the easiest way to become a member of Affinity Plus Federal Credit Union is to make a one-time $25 payment to the Affinity Plus Foundation. You can also join if you meet any of the following criteria:
To become a member, you’ll need to open an Affinity Plus Federal Credit Union Membership Savings Account.
Affinity Plus Federal Credit Union does not have any public controversies.
The credit union is a Better Business Bureau-accredited company. The BBB focuses on consumer trust, and it gives Affinity Plus FCU an A+ rating. A strong BBB score signifies that a company responds effectively to customer complaints, advertises honestly, and is transparent about business practices.
A good BBB grade doesn’t guarantee that you’ll have a smooth relationship with a company, though. You may want to ask friends and family about their experiences with Affinity Plus FCU, or read online customer reviews.
We’ve compared Affinity Plus Federal Credit Union to two other institutions in our best money market accounts guide: Premier Members Credit Union and Sallie Mae.
Money market account APY
0.35% to 1.00% APY
Money market account APY
0.10% to 2.00% APY
Money market account APY
0.50% APY
Savings APY
0.10% APY
Savings APY
0.05% APY
Savings APY
0.45% to 0.70% APY
All three institutions pay high interest rates on money market accounts. Sallie Mae pays the same rate on your entire balance, while Premier Members CU and Affinity Plus FCU both have tiered systems that pay you higher rates on lower balances.
For a money market account, you’ll probably prefer Premier Members CU if you only plan to keep a few thousands dollars in your account, because then you’ll earn the highest rate. But Affinity Plus FCU pays a competitive rate on balances up to $25,000.
Your choice could also come down to which other accounts you want to open. Sallie Mae pays a much higher interest rate on savings than the other two. But it doesn’t offer a traditional checking account, which makes accessing your money less convenient.

Disclosure: This post may highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team. Read our editorial standards.
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