Dover Federal Saving Accounts

Dover Federal Saving Accounts Review

Dover Federal Saving Accounts is offered by Dover Federal Credit Union, a credit union founded in 1958 and based in Dover, DE. Dover Federal Saving Accounts are available in 50 states (and Washington, DC).

Key Takeaways

• Low interest rate. The maximum annual percentage yield for this account is only 0.10%.
• $0 monthly fee. This account does not charge any monthly account fees.
• Small minimum initial deposit. You only need $5 to open an account.

Dover Federal Saving Accounts Pros & Cons

Pros	Cons
Available in all 50 states. Dividend-yielding account. Insured by NCUA.	Does not offer mobile check deposits. Does not provide access to a nationwide ATM network. Does not come with a debit card No signup bonus.

Dover Federal Saving Accounts FAQ

Are savings accounts from Dover 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 Dover Federal Credit Union offer a signup bonus?

Dover Federal Saving Accounts doesn't offer a signup bonus.

What is the minimum initial deposit for Dover Federal Saving Accounts?

The minimum deposit to open a Dover Federal Saving Accounts is $5.

Dover Federal Saving Accounts Minimums

Description
Minimum Opening Deposit	$5 - $500

What APY does Dover Federal Saving Accounts offer?

Dover Federal Saving Accounts offers an APY of 0.10% (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 Dover Federal Saving Accounts charge?

Dover Federal Saving Accounts does not charge a monthly service fee. See the fee breakdown section below to view all fees.

What features and perks does Dover Federal Saving Accounts offer?

This savings account includes the following features:

Can you set up a direct deposit to Dover Federal Saving 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 Dover Federal Saving Accounts?

The customer support email for Dover Federal Saving Accounts is mbrsvc@doverfcu.com.