Last Updated: 04/18/2025
Lafayette FCU Preferred Savings Account
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Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
4.27% - 4.58%(Verified 06/21/2024)
Minimum Opening Deposit
$50
Minimum Balance to Earn APY
$50
Lafayette FCU Preferred Savings Account Review
Lafayette FCU Preferred Savings Account is offered by Lafayette Federal Credit Union, a credit union founded in 1935 and based in Rockville, MD. Lafayette FCU Preferred Savings Account are available in 50 states, 5 US territories, and Washington, DC.
Key Takeaways
- High yield savings. This account offers an annual percentage yield of up to 4.58%, which is much higher than the average interest rate for a savings account. However, you must meet minimum balance requirements for higher APYs.
- No monthly maintenance fees. This account does not charge any monthly account fees.
Lafayette FCU Preferred Savings Account Pros & Cons
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Lafayette FCU Preferred Savings Account FAQ
Are savings accounts from Lafayette 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 Lafayette Federal Credit Union offer a signup bonus?
Lafayette FCU Preferred Savings Account doesn't offer a signup bonus.
What is the minimum initial deposit for Lafayette FCU Preferred Savings Account?
The minimum deposit to open a Lafayette FCU Preferred Savings Account is $50.00.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $50.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $50.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Lafayette FCU Preferred Savings Account offer?
Lafayette FCU Preferred Savings Account offers a variable APY starting at 4.27% and ranging up to 4.58% (APY stands for annual percentage yield, rates may change). This is much higher than the national average rate for savings accounts.
What fees does Lafayette FCU Preferred Savings Account charge?
Lafayette FCU Preferred 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 $25.00 fee.
- Outgoing international bank transfers come with a $40.00 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
- Lafayette FCU Preferred Savings Account charges a $25.00 fee for an early account closure. Contact Lafayette FCU Preferred Savings Account for more details on what is considered an early closure.
- An overdraft on your account will trigger a $30.00 fee per item.
- Lafayette FCU Preferred Savings Account charges $3.00 every time you request a paper statement.
Does Lafayette FCU Preferred Savings Account charge overdraft fees?
Yes, Lafayette FCU Preferred Savings Account charges a $30.00 overdraft fee.What features and perks does Lafayette FCU Preferred Savings Account offer?
This savings account includes the following features:
- Mobile Banking Services - Lafayette FCU Preferred 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 Lafayette FCU Preferred 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 Lafayette FCU Preferred Savings Account?
The customer support email for Lafayette FCU Preferred Savings Account is memberservice@lfcu.org.
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Hours of Operation
SundayClosedMonday8:30AM - 4:00PMTuesday8:30AM - 4:00PMWednesday8:30AM - 4:00PMThursday8:30AM - 4:00PMFriday8:30AM - 4:00PMSaturdayClosed
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Rating not yet determined
APY (Annual Percentage Yield)
0.10%
Disclaimer popup with additional information
Minimum Opening Deposit
$100
Minimum Balance to Earn APY
N/A
Rating not yet determined
APY (Annual Percentage Yield)
3.96%
Disclaimer popup with additional information
Minimum Opening Deposit
$50
Minimum Balance to Earn APY
N/A
Rating not yet determined
APY (Annual Percentage Yield)
4.58% - 4.99%
Disclaimer popup with additional information
Minimum Opening Deposit
$50
Minimum Balance to Earn APY
$50
Rating not yet determined
APY (Annual Percentage Yield)
0.10%
Disclaimer popup with additional information
Minimum Opening Deposit
$50
Minimum Balance to Earn APY
$50
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