Last Updated: 04/18/2025
First Watch Credit Union IRAs
Unaffiliated
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.65%(Verified 06/21/2024)
Minimum Opening Deposit
$0
Minimum Balance to Earn APY
$100
First Watch Credit Union IRAs Review
First Watch Credit Union IRAs is offered by First Watch Credit Union, a credit union founded in 1959 and based in Abilene, TX. First Watch Credit Union IRAs are available in 50 states and Washington, DC.
Key Takeaways
- Higher than average APY. First Watch Credit Union IRAs has an annual percentage yield of up to 0.65%, which is higher than the average interest rate for savings accounts. Note that you must keep a minimum balance of $100.00 to earn that interest rate.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- No minimum initial deposit. There is no minimum balance required to open an account online.
First Watch Credit Union IRAs Pros & Cons
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First Watch Credit Union IRAs FAQ
Are savings accounts from First Watch 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 First Watch Credit Union offer a signup bonus?
First Watch Credit Union IRAs doesn't offer a signup bonus.
What is the minimum initial deposit for First Watch Credit Union IRAs?
There is no minimum deposit to open a First Watch Credit Union IRAs.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $100.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does First Watch Credit Union IRAs offer?
First Watch Credit Union IRAs offers an APY of 0.65% (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 First Watch Credit Union IRAs charge?
First Watch Credit Union IRAs 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.
- First Watch Credit Union IRAs charges a $25.00 fee for an early account closure. Contact First Watch Credit Union IRAs for more details on what is considered an early closure.
- An overdraft on your account will trigger a $25.00 fee per item.
- First Watch Credit Union IRAs charges $5.00 every time you request a paper statement.
Does First Watch Credit Union IRAs charge overdraft fees?
Yes, First Watch Credit Union IRAs charges a $25.00 overdraft fee. First Watch Credit Union IRAs offers overdraft protection at a cost of $1.00 per transaction. This overdraft protection fee is charged every time the bank arranges a transfer from another one of your accounts, typically a savings account, to cover the overdraft.
What features and perks does First Watch Credit Union IRAs offer?
This savings account includes the following features:
- Mobile Banking Services - First Watch Credit Union IRAs allows you to manage your money online or with a mobile app.
Can you set up a direct deposit to First Watch Credit Union IRAs?
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 First Watch Credit Union IRAs?
The customer support email for First Watch Credit Union IRAs is memberservices@myfwcu.org.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 4:00PM
Tuesday
9:00AM - 4:00PM
Wednesday
9:00AM - 4:00PM
Thursday
9:00AM - 4:00PM
Friday
9:00AM - 5:00PM
Saturday
Closed