Last Updated: 04/18/2025
BMI Federal CU Share Savings Account
Unaffiliated
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.05%(Verified 06/21/2024)
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Minimum Opening Deposit
Starting at $5
Minimum Balance to Earn APY
$5
BMI Federal CU Share Savings Account Review
BMI Federal CU Share Savings Account is offered by BMI Federal Credit Union, a credit union founded in 1936 and based in Dublin, OH. BMI savings account are available in 50 states and Washington, DC.
Key Takeaways
- Low interest rate. The maximum annual percentage yield for this account is only 0.05%.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- Small minimum initial deposit. You only need $5 to open an account.
- No ATM fees. BMI Federal CU Share Savings Account does not charge fees on ATM transactions .
BMI savings account Pros & Cons
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BMI savings account FAQ
Are savings accounts from BMI Federal Credit Union federally insured?
Yes, your deposits are insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government. 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 BMI Federal Credit Union offer a signup bonus?
BMI savings account doesn't offer a signup bonus.
What is the minimum initial deposit for BMI savings account?
The minimum deposit to open a BMI savings account is $5.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | Starting at $5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does BMI Federal CU Share Savings Account offer?
BMI savings account offers an APY of 0.05% (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 BMI savings account charge?
BMI savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.
- Outgoing domestic bank transfers come with a $15 fee.
- Outgoing international bank transfers come with a $40 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
- BMI savings account charges $5 every time you request a paper statement.
What features and perks does BMI savings account offer?
This savings account includes the following features:
- Fraud monitoring - BMI savings 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 - BMI savings 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.
- Nationwide ATM network - Conveniently transact at a nearby ATM.
Can you set up a direct deposit to BMI 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 BMI savings account?
The customer support email for BMI savings account is info@bmifcu.org.
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Hours of Operation
SundayClosedMonday9:00AM - 5:00PMTuesday9:00AM - 5:00PMWednesday9:00AM - 5:00PMThursday9:00AM - 5:00PMFriday9:00AM - 6:00PMSaturday9:00AM - 1:00PM
Other Services by BMI Federal Credit Union
SuperMoney Net Recommendation Score
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BMI Federal CU Share Savings Account Community Reviews
Would you recommend BMI Federal CU Share Savings Account to your friends?
TM
Thomas M.
Sep 7, 2020
May or may not recommend
BMI Federal Credit Union is a banking institution that is a small bank which treats you like family. The services they offer are personalized, and all their agents are very friendly when you call or stop by one of their locations. They offer basic checking and savings account, as well as offer loans and mortgages. I have a savings account and couldn’t be happier with the ease of management and ...Show More
Showing 1 of 1 reviews
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