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Last Updated: 04/18/2025

Electro Savings CU Basic Savings Account

in Savings Accounts from Electro Savings Credit Union

Last Updated: 04/18/2025

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Highlights

APY (Annual Percentage Yield)

0.05%(Verified 06/21/2024)

Minimum Opening Deposit

Starting at $1

Minimum Balance to Earn APY

Electro Savings CU Basic Savings Account Review

Electro Savings CU Basic Savings Account is offered by Electro Savings Credit Union, a credit union founded in 1941 and based in St. Louis, MO. Electro Savings CU Basic Savings Account are available in 50 states and Washington, DC.

Key Takeaways

Low interest rate. The maximum annual percentage yield for this account is only 0.05%.
No monthly maintenance fees. This account does not charge any monthly account fees.
Small minimum initial deposit. You only need $1 to open an account.
No ATM fees. Electro Savings CU Basic Savings Account does not charge fees on ATM transactions .

Electro Savings CU Basic Savings Account Pros & Cons

Pros

Cons

Available in 50 states and Washington, DC.
Dividend-yielding account.
Insured by NCUA.
Debit card

Does not offer mobile check deposits.
Does not provide access to a nationwide ATM network.
No signup bonus.

Electro Savings CU Basic Savings Account FAQ

Are savings accounts from Electro Savings 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 Electro Savings Credit Union offer a signup bonus?

Electro Savings CU Basic Savings Account doesn't offer a signup bonus.

What is the minimum initial deposit for Electro Savings CU Basic Savings Account?

The minimum deposit to open a Electro Savings CU Basic Savings Account is $1.

Electro Savings CU Basic Savings Account Minimums

Description

Minimum Balance to Earn APY

Minimum Opening Deposit

Starting at $1

What APY does Electro Savings CU Basic Savings Account offer?

Electro Savings CU Basic 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 Electro Savings CU Basic Savings Account charge?

Electro Savings CU Basic Savings Account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

What features and perks does Electro Savings CU Basic Savings Account offer?

This savings account includes the following features:

Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
Mobile Banking Services - Electro Savings CU Basic Savings Account allows you to manage your money online or with a mobile app.

Can you set up a direct deposit to Electro Savings CU Basic Savings Account?

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 Electro Savings CU Basic Savings Account?

The customer support email for Electro Savings CU Basic Savings Account is members@escu.org.

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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.

Contact

Headquarters

1805 Craigshire Road

St. Louis, MO 63146

(314) 434-6470

Visit Site

Email Support

Hours of Operation

Sunday

Closed

Monday

9:00AM - 5:00PM

Tuesday

9:00AM - 5:00PM

Wednesday

10:00AM - 5:00PM

Thursday

9:00AM - 5:00PM

Friday

9:00AM - 5:30PM

Saturday

9:00AM - 12:00PM

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APY (Annual Percentage Yield)

0.05% - 0.70%

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Minimum Opening Deposit

Starting at $0

Minimum Balance to Earn APY

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SuperMoney Net Recommendation Score

This product has no reviews yet. Help others by sharing your thoughts.

-1000+100

No one recommends

Everyone recommends

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