Last Updated: 04/18/2025
SIU Credit Union Business Share Savings Account
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Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.30% - 0.50%(Verified 06/21/2024)
Minimum Opening Deposit
$5
Minimum Balance to Earn APY
$5
SIU Credit Union Business Share Savings Account Review
SIU Credit Union Business Share Savings Account is offered by SIU Credit Union, a credit union founded in 1938 and based in Carbondale, IL. SIU Credit Union Business Share Savings Account are available in 50 states, 5 US territories, and Washington, DC.
Key Takeaways
- Higher than average APY. SIU Credit Union Business Share Savings Account has an annual percentage yield of up to 0.50%, which is higher than the average interest rate for savings accounts. Note that you must keep a minimum balance of $5.00 to earn that interest rate.
- No monthly maintenance fee. Need to maintain a minimum balance of $5.00 to waive fee.
- Small minimum initial deposit. You only need $5.00 to open an account.
SIU Credit Union Business Share Savings Account Pros & Cons
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SIU Credit Union Business Share Savings Account FAQ
Are business savings accounts from SIU 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 SIU Credit Union offer a signup bonus?
SIU Credit Union Business Share Savings Account doesn't offer a signup bonus.
What is the minimum initial deposit for SIU Credit Union Business Share Savings Account?
The minimum deposit to open a SIU Credit Union Business Share Savings Account is $5.00.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | $5.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $5.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $5.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does SIU Credit Union Business Share Savings Account offer?
SIU Credit Union Business Share Savings Account offers a variable APY starting at 0.30% and ranging up to 0.50% (APY stands for annual percentage yield, rates may change).
What fees does SIU Credit Union Business Share Savings Account charge?
This account charges a monthly service fee of $5.00. However, you can waive the monthly fees if you have a minimum daily balance of $5.00.
- Outgoing domestic bank transfers come with a $15.00 fee.
- Incoming domestic bank transfers come with a $5.00 fee.
- Outgoing international bank transfers come with a $60.00 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
- Incoming international bank transfers come with a $60.00 fee.
- SIU Credit Union Business Share Savings Account charges a $20.00 fee for an early account closure. Contact SIU Credit Union Business Share Savings Account for more details on what is considered an early closure.
- An overdraft on your account will trigger a $25.00 fee per item.
- SIU Credit Union Business Share Savings Account charges $2.00 every time you request a paper statement.
Does SIU Credit Union Business Share Savings Account charge overdraft fees?
Yes, SIU Credit Union Business Share Savings Account charges a $25.00 overdraft fee. SIU Credit Union Business Share Savings Account offers overdraft protection at a cost of $1.00 per transaction. This overdraft protection fee is charged every time the bank arranges a transfer from another one of your accounts, typically a savings account, to cover the overdraft.
What features and perks does SIU Credit Union Business Share Savings Account 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 - SIU Credit Union Business Share Savings Account 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 SIU Credit Union Business Share Savings Account?
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 SIU Credit Union Business Share Savings Account?
The customer support email for SIU Credit Union Business Share Savings Account is feedback@siucu.org.
Is SIU Credit Union Business Share Savings Account legit?
SIU Credit Union was founded in 1938; it is a well-established company that has been in business for 88 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 - 6:00PM
Saturday
9:00AM - 1:00PM