Members 1st Credit Union Business Checking Reviews (Feb. 2021) | Business Checking Accounts

Highlights
Monthly Fee	$5
ATM Fee: Out-of-Network	$0
Minimum Balance to Avoid Monthly Fee	$2,500
APY (Annual Percentage Yield)	0%

Members 1st Credit Union Business Checking Review

Members 1st Credit Union Business Checking is offered by Members 1st Credit Union, a credit union founded in 1936 and based in Redding, CA. Members 1st Credit Union Business Checking is available in 1 state across the USA.

Key Takeaways

0% APY. As with most checking accounts, Members 1st Credit Union Business Checking does not pay interest.
Charges a monthly fee. This account charges a monthly maintenance fee of $5, but the fee is waived if you keep a minimum balance of $2,500.
$25 minimum deposit. This account requires a higher minimum initial deposit than most of the accounts we track.
No ATM fees. Members 1st Credit Union Business Checking does not charge fees on ATM transactions.
Free bill pay. Pay your bills to practically anyone in the United States through Members 1st Credit Union.
Hard credit pull. Members 1st Credit Union may require a hard pull on your credit report to open a checking account.

Members 1st Credit Union Business Checking Pros & Cons

Pros	Cons
Deposits are insured by the NCUA (up to $250K). Access to physical branches. Free debit card and the option to lock/unlock the card if lost or stolen	No signup bonus. Does not earn interest Not FDIC-insured. Only available in one state. Higher than average wire transfer fees. Monthly service charge.

Members 1st Credit Union Business Checking FAQ

Are business checking accounts from Members 1st Credit Union federally insured?

Yes, your Members 1st Credit Union business checking accounts are insured up to $250,000 per person by the National Credit Union Share Insurance Fund (NCUSIF). Individual Retirement Accounts (IRA) are insured separately up to $250,000. The National Credit Union Administration (NCUA), a federal agency, administers the insurance fund and regulates federally insured credit unions. The fund is backed by the full faith and credit of the U.S. Government.

What APY does Members 1st Credit Union Business Checking offer?

Members 1st Credit Union Business Checking is not an interest-bearing account.

What are the account minimums for Members 1st Credit Union Business Checking?

Members 1st Credit Union Business Checking requires a minimum initial deposit of $25 to open an account.

Members 1st Credit Union Business Checking Account Minimums
Description	Amount
Minimum Initial Deposit	$25
Minimum Balance to Avoid Monthly Fee	$2,500

What fees does Members 1st Credit Union Business Checking charge?

This account charges a monthly maintenance fee of $5.

Members 1st Credit Union Business Checking Fees
Description
ATM Fee: In-Network	$0
ATM Fee: Out-of-Network	$0
ATM Reimbursement Monthly Limit	N/A
Bank Teller Fee	N/A
Check Cashing Fee	$5
Check Copy	$5
Check Image Service	N/A
Debit Card Replacement Fee	$5
Early Account Closure	$10
Foreign Transaction Fee (Debit Card)	N/A
Monthly Fee	$5
NSF Fee	$29
Online Bill Pay Fee	$0
Overdraft Item Fee	N/A
Overdraft Protection Fee (per transfer)	N/A
Paper Statement Fee	$5
Returned Deposit Fee (Domestic)	$26
Returned Deposit Fee (International)	$26
Stop Payment Fee	$26
Wire Transfer Fee - Domestic (Incoming)	$10
Wire Transfer Fee - Domestic (Outgoing)	$35
Wire Transfer Fee - International (Incoming)	$35
Wire Transfer Fee - International (Outgoing)	$35

What features and perks does Members 1st Credit Union Business Checking offer?

This account includes the following features:

Fraud monitoring - Members 1st Credit Union Business Checking monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
Free Bill Pay - Bill Pay allows you to pay bills easily from your account.
Mobile Banking Services - Members 1st Credit Union Business Checking allows you to manage your money online. This includes depositing checks in your account with your smartphone.
Nationwide ATM network - Conveniently transact at a nearby ATM.

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