Partners Federal Credit Union Review: Local Financial Institution With a Free Checking Account and Solid CDs

Our experts answer readers' banking questions and write unbiased product reviews (here's how we assess banking products). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.

Partners Federal Credit Union: Overall Credit Union Rating

In our Partners Federal Credit Union review, we rate checking accounts, savings accounts, CDs, and money market accounts by looking at features like minimum opening requirements, monthly service fees, and customer support available. Learn more about our methodology for rating bank accounts.

Partners Federal Credit Union: Pros and Cons

Partners Federal Credit Union Primary Savings - Product Name Only

All members must open Partners Federal Credit Union Primary Savings - Product Name Only with at least Partners Federal Credit Union Primary Savings - Minimum Deposit.

If you're looking for a competitive interest rate, you'll want to open the credit union's money market account or find a high-yield savings account at another financial institution. 

Partners Federal Credit Union Basic Checking - Product Name Only

Partners Federal Credit Union Basic Checking - Product Name Only could be a good choice if you do not want to deal with monthly service fees or minimum balance requirements. 

Depending on your account balance, you'll also be eligible for Relationship Rewards, like monthly ATM fee reimbursements and free check orders. 

Partners Federal Credit Union Share Certificates - Product Name Only

Partners Federal Credit Union might be an appealing option for CDs. The credit union pays competitive interest rates on 1-year and 5-year terms. 

Partners Federal Credit Union Share Certificates - Product Name Only also have standard-to-low early withdrawal penalties. 

Partners Federal Credit Union Money Market Savings - Product Name Only

Partners Federal Credit Union Money Market Savings - Product Name Only might be worth considering if you have a minimum of Partners Federal Credit Union Money Market Savings - Minimum Deposit. However, also bear in mind that this is a tiered money market account, which means you'll earn a higher interest rate with a higher account balance.

If you don't meet the minimum opening requirements, our best money market accounts guide includes some financial institutions that let you open a money market account with $0.

How Partners Federal Credit Union Works

Partners Federal Credit Union has 13 branches in Southern California and Florida (7 on Disney properties).

The credit union is part of the CO-OP Shared Branch and ATMs network, which means you'll have access to over 5,500 shared branches and 30,000 free ATMs throughout the US. If you visit another credit union in a shared branch network, you may take out money from your account, make loan payments, or deposit money. You won't be able to open new bank accounts specific to your credit union, though.

Customer support is available from 8 a.m. to 7:50 p.m. ET through live chat or 24/7 by phone.

The credit union's mobile app is rated 3.8 out of 5 stars on the Google Play store and 4.7 out of 5 stars on the Apple store.

Partners Federal Credit Union is federally insured by the NCUA. Up to $250,000 is secure in individual bank accounts, and $500,000 is safe in joint bank accounts.

How to Join Partners Federal Credit Union

Credit unions require membership to open accounts. To become a member of Partners Federal Credit Union, you or a family member must meet one of the following requirements: 

• You are an employee of the Walt Disney Company or a subsidiary
• You are an employee of Partners Federal Credit Union or a Select Employee Group

All members are required to open Partners Federal Credit Union Primary Savings - Product Name Only with Partners Federal Credit Union Primary Savings - Minimum Deposit, and may have to pay an additional one-time $5 membership fee. 

The Role of Community Development Financial Institutions

CDFIs serve low-income and disadvantaged communities. Banks and credit unions have to undergo certification by the US Department of Treasury's Community Development Financial Institutions Fund and meet specific requirements to address banking barriers.

Partners Federal Credit Union has given over $300,000 in college scholarships to over 35 students since 2000. The credit union also hosts monthly webinars for members on a variety of personal finance topics like credit and homebuying.

Partners Federal Credit Union Trustworthiness and BBB Rating

Partners Federal Credit Union hasn't been involved in any recent public controversies. 

Our Partners Federal Credit Union review also includes ratings from the Better Business Bureau so you can see how an institution addresses customer issues. 

Partners Federal Credit Union received an NR "No Rating" grade because the BBB doesn't have enough information about the business to provide a rating yet.

A great BBB rating doesn't necessarily guarantee a smooth relationship with a financial institution, though. Read online customer reviews and talk to current customers to see if Partners Federal Credit Union could be a good match.

Partners Federal Credit Union Review vs. Orange County's Credit Union Review

Orange County's Credit Union is another CDFI with branches in Southern California. To become a member of Orange County's Credit Union, you or an immediate family member must live or work in an eligible Southern California county on this list.

If you're looking for a free checking account, you'll likely favor Partners Federal Credit Union over Orange County's Credit Union. Partners Federal Credit Union Basic Checking - Product Name Only doesn't have monthly service fees or minimum balance requirements. At Orange County's Credit Union, the checking accounts have monthly service fees unless you meet certain requirements each month.

For money market accounts, both credit unions have solid options that stand out for different reasons.

Orange County's Credit Union has a money market account with paper checks and an ATM card, so it could be worth considering if you'd like to have easy access to your savings. Meanwhile, Partners Federal Credit Union might be more suitable if your priority is earning a competitive interest rate. Both credit unions have tiered money market accounts, but the rates for Partners Federal Credit Union Money Market Savings - Product Name Only are higher regardless of how much money you keep in your account.

Partners Federal Credit Union Review vs. First General Bank Review

First General Bank is an Asian American-owned bank with five branches in Southern California. The credit union is also designated as a CDFI. If you do not qualify for membership at Partners Federal Credit Union, First General Bank doesn't have membership requirements.

Both financial institutions have solid checking account options if your goal is to avoid monthly service fees.

First General Bank has a free interest-earning checking account. However, it doesn't have an ATM network. First General Bank won't charge you a fee at out-of-network ATMs. If the ATM provider charges a fee, though, you'll have to pay it.

If you frequently visit ATMs to make transactions, you might lean more toward Partners Federal Credit Union. Partners Federal Credit Union Basic Checking - Product Name Only has zero monthly service fees and access to over 30,000 free ATMs through the CO-OP ATM network.

Partners Federal Credit Union: Frequently Asked Questions

Is Partners Federal Credit Union federally insured by the NCUA?

Yes, Partners Federal Credit Union is federally insured by the NCUA. Checking, savings, CD, and money market accounts are secure for up to $250,000 per depositor.

Where is Partners Federal Credit Union located?

Partners Federal Credit Union branches are located in the following cities: Anaheim, California; Burbank, California; Glendale, California; Bay Lake, Florida; Orlando, Florida or Lake Buena Vista, Florida.