Alco Federal Credit Union Savings Accounts

Alco Federal Credit Union Savings Accounts Review

Alco Federal Credit Union Savings Accounts is offered by Alco Federal Credit Union, a credit union founded in 1953 and based in Wellsville, NY. Alco Federal Credit Union Savings Accounts are available in 50 states (and Washington, DC).

Key Takeaways

• Higher than average APY. Alco Federal Credit Union Savings Accounts has an annual percentage yield of up to 0.25%, which is higher than the average interest rate for savings accounts. Note that you must keep a minimum balance of $100 to earn that interest rate.
• $0 monthly fee. This account does not charge any monthly account fees.
• Small minimum initial deposit. You only need $5 to open an account.
• No ATM fees. Alco Federal Credit Union Savings Accounts does not charge fees on ATM transactions.

Alco Federal Credit Union Savings Accounts Pros & Cons

Pros	Cons
Available in all 50 states. Dividend-yielding account.	Does not offer mobile check deposits. Does not provide access to a nationwide ATM network. Does not come with a debit card No signup bonus.

Alco Federal Credit Union Savings Accounts FAQ

Are savings accounts from Alco Federal Credit Union federally insured?

Yes, your 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 Alco Federal Credit Union offer a signup bonus?

Alco Federal Credit Union Savings Accounts doesn't offer a signup bonus.

What is the minimum initial deposit for Alco Federal Credit Union Savings Accounts?

The minimum deposit to open a Alco Federal Credit Union Savings Accounts is $5.

Alco Federal Credit Union Savings Accounts Minimums

Description
Minimum Balance to Earn APY	$100
Minimum Opening Deposit	Starting at $5

What APY does Alco Federal Credit Union Savings Accounts offer?

Alco Federal Credit Union Savings Accounts offers an APY of 0.25% (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. 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 Alco Federal Credit Union Savings Accounts charge?

Alco Federal Credit Union Savings Accounts does not charge a monthly service fee. See the fee breakdown section below to view all fees.

What features and perks does Alco Federal Credit Union Savings Accounts offer?

This savings account includes the following features:

• Mobile Banking Services - Alco Federal Credit Union Savings Accounts allows you to manage your money online or with a mobile app.

Can you set up a direct deposit to Alco Federal Credit Union Savings Accounts?

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 Alco Federal Credit Union Savings Accounts?

The customer support email for Alco Federal Credit Union Savings Accounts is alcofcu@roadrunner.com.