Last Updated: 04/18/2025
Magnolia FCU Maggie’s Youth Savers Club Account
Unaffiliated
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.20% - 3.50%(Verified 06/21/2024)
Minimum Opening Deposit
$5
Minimum Balance to Earn APY
$0
Magnolia FCU Maggie’s Youth Savers Club Account Review
Magnolia FCU Maggie’s Youth Savers Club Account is offered by Magnolia Federal Credit Union, a credit union founded in 1935 and based in Jackson, MS. Magnolia FCU Maggie’s Youth Savers Club Account are available in 50 states and Washington, DC.
Key Takeaways
- High yield savings. This account offers an annual percentage yield of up to 3.50%, which is much higher than the average interest rate for a savings account.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- Small minimum initial deposit. You only need $5.00 to open an account.
Magnolia FCU Maggie’s Youth Savers Club Account Pros & Cons
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Magnolia FCU Maggie’s Youth Savers Club Account FAQ
Are savings accounts from Magnolia 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 Magnolia Federal Credit Union offer a signup bonus?
Magnolia FCU Maggie’s Youth Savers Club Account doesn't offer a signup bonus.
What is the minimum initial deposit for Magnolia FCU Maggie’s Youth Savers Club Account?
The minimum deposit to open a Magnolia FCU Maggie’s Youth Savers Club Account is $5.00.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $5.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Magnolia FCU Maggie’s Youth Savers Club Account offer?
Magnolia FCU Maggie’s Youth Savers Club Account offers a variable APY starting at 0.20% and ranging up to 3.50% (APY stands for annual percentage yield, rates may change).
What fees does Magnolia FCU Maggie’s Youth Savers Club Account charge?
Magnolia FCU Maggie’s Youth Savers Club 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 $20.00 fee.
- Outgoing international bank transfers come with a $30.00 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
- An overdraft on your account will trigger a $30.00 fee per item.
- Magnolia FCU Maggie’s Youth Savers Club Account charges $2.50 every time you request a paper statement.
Does Magnolia FCU Maggie’s Youth Savers Club Account charge overdraft fees?
Yes, Magnolia FCU Maggie’s Youth Savers Club Account charges a $30.00 overdraft fee. Magnolia FCU Maggie’s Youth Savers Club Account 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 Magnolia FCU Maggie’s Youth Savers Club Account offer?
This savings account includes the following features:
- Mobile Banking Services - Magnolia FCU Maggie’s Youth Savers Club Account allows you to manage your money online or with a mobile app.
Can you set up a direct deposit to Magnolia FCU Maggie’s Youth Savers Club 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 Magnolia FCU Maggie’s Youth Savers Club Account?
The customer support email for Magnolia FCU Maggie’s Youth Savers Club Account is info@magfedcu.org.
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Hours of Operation
Sunday
Closed
Monday
8:00AM - 4:30PM
Tuesday
8:00AM - 4:30PM
Wednesday
8:00AM - 4:30PM
Thursday
8:00AM - 4:30PM
Friday
8:00AM - 5:30PM
Saturday
Closed