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  ESL Federal Credit Union Tiered Savings Account

ESL Federal Credit Union Tiered Savings Account

in Savings Accounts from ESL Federal Credit Union · ncua

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ESL Federal Credit Union Tiered Savings Account

Unaffiliated

in Savings Accounts from ESL Federal Credit Union · Insured by NCUA

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Highlights
Monthly Fee $0 - $20
APY (Annual Percentage Yield) 0.15% - 0.25%
APY Minimum Balance $1

ESL Federal Credit Union Tiered Savings Account Review

ESL Federal Credit Union Tiered Savings Account is offered by ESL Federal Credit Union, a credit union founded in 1920 and based in Rochester, NY. ESL Federal Credit Union Tiered Savings Account is available in 50 states (and Washington, DC).

Key Takeaways
  • Higher than average APY. ESL Federal Credit Union Tiered Savings Account has an annual percentage yield of up to 0.25%, which is higher than the national average interest rate on savings accounts. Note that you must keep a minimum balance of $1.
  • $0 monthly Service Charge available. This account charges a monthly service fee of up to $20, but the fee is waived if you keep a minimum balance of $50,000.
  • Large minimum initial deposit. You need a minimum deposit of $10,000 to open an account. This is a relatively large minimum initial deposit when compared to the other accounts that we track.
  • No ATM fees. ESL Federal Credit Union Tiered Savings Account does not charge fees on ATM transactions.
ESL savings account Pros & Cons
Pros Cons
  • Available in all 50 states.
  • Dividend-yielding account
  • Insured by NCUA.
  • Access to physical branches.
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not provide access to a nationwide ATM network.
  • Does not come with a debit card
  • Not FDIC-insured.
  • Higher than average wire transfer fees.
  • Monthly service charge.
ESL savings account FAQ

Are savings accounts from ESL Federal Credit Union federally insured?

Yes, your ESL Federal 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 ESL Federal Credit Union offer a signup bonus?

ESL savings account doesn't offer a signup bonus.

What is the minimum initial deposit for ESL savings account?

The minimum deposit to open a ESL savings account is $10,000.
ESL Federal Credit Union Tiered Savings Account Minimums
Description
APY Minimum Balance $1
Minimum Balance to Avoid Monthly Fee $50,000
Minimum Opening Deposit Starting at $10,000

What APY does ESL Federal Credit Union offer?

ESL savings account offers an APY starting at 0.15% and ranging up to 0.25% (APY stands for annual percentage yield, rates may change).

What fees does ESL savings account charge?

ESL 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 $50,000.

  • Outgoing domestic bank transfers come with a $20 fee.
  • Outgoing international bank transfers come with a $35 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.

What features and perks does ESL savings account offer?

This savings account includes the following features:

  • Fraud monitoring - ESL 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 - ESL 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.

Can you set up a direct deposit to ESL 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 ESL savings account?

The customer support email for ESL savings account is socialmedia@esl.org.

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Contact

Hours of Operation

  • Sunday Closed
  • Monday 7:00am - 7:00pm
  • Tuesday 7:00am - 7:00pm
  • Wednesday 7:00am - 7:00pm
  • Thursday 7:00am - 7:00pm
  • Friday 7:00am - 7:00pm
  • Saturday 8:30am - 2:00pm

Other Services by ESL Federal Credit Union

Icon for Savings Accounts
View all savings accounts offered by ESL Federal Credit Union

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

APY Minimum Balance $1
Minimum Balance to Avoid Monthly Fee $50,000
Minimum Opening Deposit Starting at $10,000
Monthly Fee $0 - $20
Returned Deposit Fee (Domestic) $10
Wire Transfer Fee - Domestic (Outgoing) $20
Wire Transfer Fee - International (Outgoing) $35
Account Features
  • No ATM Fees
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Mobile Banking
  • Fraud Monitoring
  • Automatic Transfers
  • Bauer Financial A+/A Rating
  • Insured by NCUA
  • Branch Access
APY (Annual Percentage Yield) 0.15% - 0.25%

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