SuperMoney
  Consumers Credit Union Membership Share Savings Account

Consumers Credit Union Membership Share Savings Account

in Savings Accounts from Consumers Credit Union · ncua

Claimed

Consumers Credit Union Membership Share Savings Account

Claimed

in Savings Accounts from Consumers Credit Union · Insured by NCUA

Not enough votes for recommendation

Not enough votes for recommendation

Cast your vote

Would you recommend Consumers Credit Union Membership Share Savings Account to your friends?

Thanks for your vote!

You voted: May or may not recommend

Highlights
Monthly Fee $0 - $5
APY (Annual Percentage Yield) 0.05%
APY Minimum Balance N/A

Consumers Credit Union Membership Share Savings Account Review

Consumers Credit Union Membership Share Savings Account is offered by Consumers Credit Union, a credit union founded in 1930 and based in Waukegan, IL. Consumers Credit Union Membership Share Savings Account is available in 1 state across the USA.

Key Takeaways
  • Higher than average APY. Consumers Credit Union Membership Share Savings Account has an annual percentage yield of up to 0.05%, which is higher than the national average interest rate on savings accounts.
  • $0 monthly Service Charge available. This account charges a monthly service fee of up to $5, but the fee is waived if you keep a minimum balance of $100.
  • Small minimum initial deposit. You only need $5 to open an account.
  • No ATM fees. Consumers Credit Union Membership Share Savings Account does not charge fees on ATM transactions.
Consumers Credit Union savings account Pros & Cons
Pros Cons
  • Dividend-yielding account
  • Insured by NCUA.
  • Access to physical branches.
  • No signup bonus.
  • Does not come with a debit card
  • Not FDIC-insured.
  • Only available in one state.
  • Higher than average wire transfer fees.
  • Monthly service charge.
Consumers Credit Union savings account FAQ

Are savings accounts from Consumers Credit Union federally insured?

Yes, your Consumers 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 Consumers Credit Union offer a signup bonus?

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

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

The minimum deposit to open a Consumers Credit Union savings account is $5.
Consumers Credit Union Membership Share Savings Account Minimums
Description
Minimum Balance to Avoid Monthly Fee Starting at $100
Minimum Opening Deposit Starting at $5

What APY does Consumers Credit Union offer?

Consumers Credit Union 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 Consumers Credit Union savings account charge?

Consumers Credit Union savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

However, you can waive the monthly fees if you have a minimum daily balance of $100.

  • Outgoing domestic bank transfers come with a $25 fee.
  • Incoming domestic bank transfers come with a $10 fee.
  • Incoming international bank transfers come with a $10 fee.
  • Consumers Credit Union savings account charges $5 every time you request a paper statement.

What features and perks does Consumers Credit Union savings account offer?

This savings account includes the following features:

  • Fraud monitoring - Consumers 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.
  • Mobile Banking Services - Consumers 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 Consumers 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.

What is the customer support email for Consumers Credit Union savings account?

The customer support email for Consumers Credit Union savings account is ccuinfo@myconsumers.org.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
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.

Availability

  Available in 1 state
Illinois
Availabile in all of Illinois

Feature Breakdown

Minimum Balance to Avoid Monthly Fee Starting at $100
Minimum Opening Deposit Starting at $5
Monthly Fee $0 - $5
Paper Statement Fee $5
Returned Deposit Fee (Domestic) $15
Wire Transfer Fee - Domestic (Incoming) $10
Wire Transfer Fee - Domestic (Outgoing) $25
Wire Transfer Fee - International (Incoming) $10
Bauer Financial A+/A Rating
Account Features
  • Automatic Transfers
  • Bauer Financial A+/A Rating
  • Branch Access
  • Fraud Monitoring
  • Interest Bearing Account
  • Mobile Banking
  • Mobile Check Deposit
  • Nationwide ATM Network
  • Insured by NCUA
  • No ATM Fees
  • No Monthly Maintenance Fee
APY (Annual Percentage Yield) 0.05%

Be the first to rate

 

Would you recommend Consumers Credit Union Membership Share Savings Account to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
(will require moderator approval)

Other Savings Accounts