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  Spectrum Federal Credit Union Member Checking Account

Spectrum Federal Credit Union Member Checking Account

in Checking Accounts from Spectrum Federal Credit Union

Unaffiliated

Spectrum Federal Credit Union Member Checking Account

Unaffiliated

in Checking Accounts from Spectrum Federal Credit Union

Net Recommendation Score +100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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2 users recommend
0 users are unsure
0 users don't recommend
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Highlights
Community Rating

Rating not yet determined  

Monthly Fee $5
ATM Fee: Out-of-Network $1
Minimum Balance to Avoid Monthly Fee N/A
APY (Annual Percentage Yield) 0.10%

Spectrum Federal Credit Union Member Checking Account Review

Spectrum Federal Credit Union Member Checking Account is offered by Spectrum Federal Credit Union, a credit union founded in 1973 and based in Oakland, CA. Spectrum Federal Credit Union Member Checking Account is available in 7 states across the USA.

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only 0.10%.
  • Charges a monthly fee. This account charges a monthly service fee of $5, but there are ways to waive the fee.
  • Free bill pay. Pay your bills to practically anyone in the United States through Spectrum Federal Credit Union.
  • Hard credit pull. Spectrum Federal Credit Union may require a hard pull on your credit report to open a checking account.
Spectrum Federal Credit Union Member Checking Account Pros & Cons
Pros Cons
  • Interest-yielding account.
  • Deposits are insured by the NCUA (up to $250K).
  • Access to physical branches.
  • Free debit card
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not provide access to a nationwide ATM network.
  • Not FDIC-insured.
  • Only available in 7 states.
  • Higher than average wire transfer fees.
  • Monthly service charge.
  • Charges a fee on out-of-network ATM transactions.
Spectrum Federal Credit Union Member Checking Account FAQ

Are checking accounts from Spectrum Federal Credit Union federally insured?

No, your Spectrum Federal Credit Union checking accounts are not insured by a federal insurance agency. This means that if Spectrum Federal Credit Union were to fall into financial difficulties, your deposits are not covered by a government backed insurance fund like the FDIC or NCUSIF.

What APY does Spectrum Federal Credit Union Member Checking Account offer?

Spectrum Federal Credit Union Member Checking Account Rates & Terms
Description
APY (Annual Percentage Yield) 0.10%

Spectrum Federal Credit Union Member Checking Account offers an APY of 0.10% (APY stands for annual percentage yield, rates may change).

What are the account minimums for Spectrum Federal Credit Union Member Checking Account?

Spectrum Federal Credit Union Member Checking Account requires a minimum initial deposit of $25 to open an account.

Spectrum Federal Credit Union Member Checking Account Account Minimums
Description Amount
Minimum Opening Deposit $25

What fees does Spectrum Federal Credit Union Member Checking Account charge?

This account charges a monthly service fee of $5.

Spectrum Federal Credit Union Member Checking Account Fees
Description
ATM Fee: In-Network $0
Debit Card Replacement Fee $10
Early Account Closure $20
Foreign Transaction Fee (Debit Card) 1%
Monthly Fee $5
NSF Fee $25
Online Bill Pay Fee $0
Overdraft Item Fee $25
Overdraft Protection Fee (per transfer) $25
Paper Statement Fee $5
Returned Deposit Fee (Domestic) $20
Returned Deposit Fee (International) $20
Stop Payment Fee $15
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - Domestic (Outgoing) $20
Wire Transfer Fee - International (Incoming) $0
Wire Transfer Fee - International (Outgoing) $30
ATM Fee: Out-of-Network $1

Does Spectrum Federal Credit Union Member Checking Account charge overdraft fees?

Yes, Spectrum Federal Credit Union Member Checking Account charges a $25 fee for every overdraft fee.

Spectrum Federal Credit Union Member Checking Account offers overdraft protection at a cost of $25 per transaction.

What features and perks does Spectrum Federal Credit Union Member Checking Account offer?

This account includes the following features:

  • Fraud monitoring - Spectrum Federal Credit Union Member Checking Account 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 Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - Spectrum Federal Credit Union Member Checking Account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.

How do people rate the customer service and user experience of Spectrum Federal Credit Union Member Checking Account?

Overall, Spectrum Federal Credit Union Member Checking Account is strongly recommended based on community reviews that rate customer service and user experience.

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About Spectrum Federal Credit Union Member Checking Account

Availability

  Available in 7 states
  • California
  • Louisiana
  • Maryland
  • Mississippi
  • Texas
  • Utah
  • Virginia

Feature Breakdown

APY Minimum Balance $0
Minimum Opening Deposit Starting at $25
ATM Fee: In-Network $0
Online Bill Pay Fee $0
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - International (Incoming) $0
Debit Card Replacement Fee $10
Early Account Closure $20
Foreign Transaction Fee (Debit Card) 1%
Monthly Fee $5
NSF Fee $25
Overdraft Item Fee $25
Overdraft Protection Fee (per transfer) $25
Paper Statement Fee $5
Returned Deposit Fee (Domestic) $20
Returned Deposit Fee (International) $20
Stop Payment Fee $15
Wire Transfer Fee - Domestic (Outgoing) $20
Wire Transfer Fee - International (Outgoing) $30
ATM Fee: Out-of-Network $1
Bank Account Features
  • Free Bill Pay
  • Mobile Check Deposit
  • Interest Bearing Account
  • Mobile Banking
  • Fraud Monitoring
  • Fraud Protection
  • Debit Card
  • NCUA Member
  • Branch Access
APY (Annual Percentage Yield) 0.10%

Spectrum Federal Credit Union Member Checking Account Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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