Coastal Federal Credit Union Savings Account Review

Coastal Federal Credit Union Savings Account is offered by Coastal Federal Credit Union, a credit union founded in 1967 and based in Raleigh, NC. Coastal Federal Credit Union Savings Account is available in 50 states (and Washington, DC).

• Higher than average APY. Coastal Federal Credit Union Savings Account has an annual percentage yield of up to 0.1%, which is higher than the national average interest rate on savings accounts.
• $0 monthly fee. This account does not charge a monthly Service Charge.
• $100 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.
• No ATM fees. Coastal Federal Credit Union Savings Account does not charge fees on ATM transactions.
• Bill pay. Pay your bills to practically anyone in the United States through Coastal Federal Credit Union.

Pros	Cons
Available in all 50 states. Dividend-yielding account Insured by NCUA. Access to physical branches. No charge on incoming domestic or international wire transfers.	No signup bonus. No ATM access to Coastal Federal Credit Union Savings Account. Does not come with a debit card Higher than average wire transfer fees.

Are savings accounts from Coastal Federal Credit Union federally insured?

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

Coastal Federal Credit Union savings account doesn't offer a signup bonus.

What is the minimum initial deposit for Coastal Federal Credit Union savings account?

The minimum deposit to open a Coastal Federal Credit Union savings account is $100.

Coastal Federal Credit Union Savings Account Minimums

Description
Minimum Opening Deposit	Starting at $100

What APY does Coastal Federal Credit Union offer?

Coastal Federal Credit Union savings account offers an APY of 0.1% (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 Coastal Federal Credit Union savings account charge?

Coastal Federal Credit Union 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 $45 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
• Coastal Federal Credit Union savings account charges $4 every time you request a paper statement.

What features and perks does Coastal Federal Credit Union savings account offer?

This savings account includes the following features:

• Fraud monitoring - Coastal Federal Credit Union 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 - Coastal Federal Credit Union 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 Coastal Federal Credit Union savings account?

In most cases, the answer is yes. 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.