Last Updated: 04/18/2025
Chessie FCU Individual Retirement Accounts
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Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
2.53%(Verified 06/21/2024)
Minimum Opening Deposit
$0
Minimum Balance to Earn APY
$0
Chessie FCU Individual Retirement Accounts Review
Chessie FCU Individual Retirement Accounts is offered by Chessie Federal Credit Union, a credit union founded in 1948 and based in Cumberland, MD. Chessie FCU Individual Retirement Accounts are available in 50 states, 5 US territories, and Washington, DC.
Key Takeaways
- High yield savings. This account offers an annual percentage yield of up to 2.53%, which is much higher than the average interest rate for a savings account.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- No minimum initial deposit. There is no minimum balance required to open an account online.
Chessie FCU Individual Retirement Accounts Pros & Cons
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Chessie FCU Individual Retirement Accounts FAQ
Are savings accounts from Chessie 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 Chessie Federal Credit Union offer a signup bonus?
Chessie FCU Individual Retirement Accounts doesn't offer a signup bonus.
What is the minimum initial deposit for Chessie FCU Individual Retirement Accounts?
There is no minimum deposit to open a Chessie FCU Individual Retirement Accounts.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Chessie FCU Individual Retirement Accounts offer?
Chessie FCU Individual Retirement Accounts offers an APY of 2.53% (APY stands for annual percentage yield, rates may change). This is much higher than the average savings account rate.
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 Chessie FCU Individual Retirement Accounts charge?
Chessie FCU Individual Retirement Accounts does not charge a monthly service fee. See the fee breakdown section below to view all fees.
- Outgoing domestic bank transfers come with a $40.00 fee.
- Incoming domestic bank transfers come with a $10.00 fee.
- Outgoing international bank transfers come with a $50.00 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 $10.00 fee.
- An overdraft on your account will trigger a $30.00 fee per item.
- Chessie FCU Individual Retirement Accounts charges $5.00 every time you request a paper statement.
Does Chessie FCU Individual Retirement Accounts charge overdraft fees?
Yes, Chessie FCU Individual Retirement Accounts charges a $30.00 overdraft fee. Chessie FCU Individual Retirement Accounts offers overdraft protection at a cost of $5.00 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 Chessie FCU Individual Retirement Accounts offer?
This savings account includes the following features:
- Mobile Banking Services - Chessie FCU Individual Retirement Accounts 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 Chessie FCU Individual Retirement 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 Chessie FCU Individual Retirement Accounts?
The customer support email for Chessie FCU Individual Retirement Accounts is generalinfo@chessiefcu.org.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 4:30PM
Tuesday
9:00AM - 4:30PM
Wednesday
9:00AM - 4:30PM
Thursday
9:00AM - 4:30PM
Friday
9:00AM - 4:30PM
Saturday
Closed