Last Updated: 04/18/2025
Carolinas Telco FCU Business Share Savings
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Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.20%(Verified 08/13/2024)
Minimum Opening Deposit
Starting at $5
Minimum Balance to Earn APY
$5
Carolinas Telco FCU Business Share Savings Review
Carolinas Telco FCU Business Share Savings is offered by Carolinas Telco Federal Credit Union, a credit union founded in 1934 and based in Charlotte, NC. Carolinas Telco FCU Business Share Savings are available in 50 states, 5 US territories, and Washington, DC.
Key Takeaways
- Low interest rate. The maximum annual percentage yield for this account is only 0.20%.
- $0 monthly account fees available. This account charges a monthly fee of up to $5, but the fee may be waived if you keep a minimum balance of$5.
- Small minimum initial deposit. You only need $5 to open an account.
- No ATM fees. Carolinas Telco FCU Business Share Savings does not charge fees on ATM transactions .
Carolinas Telco FCU Business Share Savings Pros & Cons
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Carolinas Telco FCU Business Share Savings FAQ
Are business savings accounts from Carolinas Telco Federal Credit Union federally insured?
Yes, your business savings accounts are insured up to $250,000 per share owner for each account ownership category. 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.
Does Carolinas Telco Federal Credit Union offer a signup bonus?
Carolinas Telco FCU Business Share Savings doesn't offer a signup bonus.
What is the minimum initial deposit for Carolinas Telco FCU Business Share Savings?
The minimum deposit to open a Carolinas Telco FCU Business Share Savings is $5.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | Starting at $5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | Starting at $5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Carolinas Telco FCU Business Share Savings offer?
Carolinas Telco FCU Business Share Savings offers an APY of 0.20% (APY stands for annual percentage yield, rates may change).
The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Business savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually. What fees does Carolinas Telco FCU Business Share Savings charge?
Carolinas Telco FCU Business Share Savings does not charge a monthly service fee. See the fee breakdown section below to view all fees.
However, you can waive the monthly fees if you have a minimum daily balance of $5.
What features and perks does Carolinas Telco FCU Business Share Savings offer?
This savings account includes the following features:
- Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
- Mobile Banking Services - Carolinas Telco FCU Business Share Savings allows you to manage your money online or with a mobile app.
- Nationwide ATM network - Conveniently transact at a nearby ATM.
Can you set up a direct deposit to Carolinas Telco FCU Business Share Savings?
Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.
What is the customer support email for Carolinas Telco FCU Business Share Savings?
The customer support email for Carolinas Telco FCU Business Share Savings is support@ctelco.org.
Is Carolinas Telco FCU Business Share Savings legit?
Carolinas Telco Federal Credit Union was founded in 1934; it is a well-established company that has been in business for 92 years.
Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
9:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 5:00PM
Saturday
Closed