Last Updated: 04/18/2025
CoastLife Credit Union IRA Traditional
Unaffiliated
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
1.00%(Verified 06/21/2024)
Minimum Opening Deposit
$500
Minimum Balance to Earn APY
$50
CoastLife Credit Union IRA Traditional Review
CoastLife Credit Union IRA Traditional is offered by CoastLife Credit Union, a credit union founded in 1935 and based in Corpus Christi, TX. CoastLife Credit Union IRA Traditional are available in 50 states and Washington, DC.
Key Takeaways
- Higher than average APY. CoastLife Credit Union IRA Traditional has an annual percentage yield of up to 1.00%, which is higher than the average interest rate for savings accounts. Note that you must keep a minimum balance of $50.00 to earn that interest rate.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- $500.00 minimum opening deposit. This is a typical minimum initial deposit.
CoastLife Credit Union IRA Traditional Pros & Cons
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CoastLife Credit Union IRA Traditional FAQ
Are savings accounts from CoastLife 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 CoastLife Credit Union offer a signup bonus?
CoastLife Credit Union IRA Traditional doesn't offer a signup bonus.
What is the minimum initial deposit for CoastLife Credit Union IRA Traditional?
The minimum deposit to open a CoastLife Credit Union IRA Traditional is $500.00.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $50.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $500.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does CoastLife Credit Union IRA Traditional offer?
CoastLife Credit Union IRA Traditional offers an APY of 1.00% (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 CoastLife Credit Union IRA Traditional charge?
CoastLife Credit Union IRA Traditional does not charge a monthly service fee. See the fee breakdown section below to view all fees.
- Outgoing domestic bank transfers come with a $20.00 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.
- An overdraft on your account will trigger a $25.00 fee per item.
- CoastLife Credit Union IRA Traditional charges $2.00 every time you request a paper statement.
Does CoastLife Credit Union IRA Traditional charge overdraft fees?
Yes, CoastLife Credit Union IRA Traditional charges a $25.00 overdraft fee. CoastLife Credit Union IRA Traditional 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 CoastLife Credit Union IRA Traditional offer?
This savings account includes the following features:
Can you set up a direct deposit to CoastLife Credit Union IRA Traditional?
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 CoastLife Credit Union IRA Traditional?
The customer support email for CoastLife Credit Union IRA Traditional is Marketing@MyCoastLifeCU.com.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:30PM
Tuesday
9:00AM - 5:30PM
Wednesday
10:00AM - 5:30PM
Thursday
9:00AM - 5:30PM
Friday
9:00AM - 5:30PM
Saturday
Closed