Last Updated: 04/18/2025
Elevate Credit Union Traditional Savings Account
Unaffiliated
in Savings Accounts from Elevate Credit Union
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.10%(Verified 06/21/2024)
Minimum Opening Deposit
$25
Minimum Balance to Earn APY
$25
Elevate Credit Union Traditional Savings Account Review
Elevate Credit Union Traditional Savings Account is offered by Elevate Credit Union, a credit union founded in 1954 and based in Brigham City, UT. Elevate Credit Union Traditional 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 0.10%.
- No monthly maintenance fees. This account does not charge any monthly account fees.
Elevate Credit Union Traditional Savings Account Pros & Cons
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Elevate Credit Union Traditional Savings Account FAQ
Are savings accounts from Elevate 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 Elevate Credit Union offer a signup bonus?
Elevate Credit Union Traditional Savings Account doesn't offer a signup bonus.
What is the minimum initial deposit for Elevate Credit Union Traditional Savings Account?
The minimum deposit to open a Elevate Credit Union Traditional Savings Account is $25.00.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $25.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $25.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Elevate Credit Union Traditional Savings Account offer?
Elevate Credit Union Traditional Savings Account 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 Elevate Credit Union Traditional Savings Account charge?
Elevate Credit Union Traditional 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 $15.00 fee.
- Elevate Credit Union Traditional Savings Account charges a $10.00 fee for an early account closure. Contact Elevate Credit Union Traditional Savings Account for more details on what is considered an early closure.
- An overdraft on your account will trigger a $25.00 fee per item.
Does Elevate Credit Union Traditional Savings Account charge overdraft fees?
Yes, Elevate Credit Union Traditional Savings Account charges a $25.00 overdraft fee.What features and perks does Elevate Credit Union Traditional Savings Account offer?
This savings account includes the following features:
- Mobile Banking Services - Elevate Credit Union Traditional Savings Account allows you to manage your money online or with a mobile app.
- Nationwide ATM network - Conveniently transact at a nearby ATM.
Can you set up a direct deposit to Elevate Credit Union Traditional 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.
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