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  Members 1st Credit Union Child Share
Members 1st Credit Union Child Share Unaffiliated

Members 1st Credit Union Child Share

Unaffiliated
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Highlights
Monthly Fee $0
APY (Annual Percentage Yield) 0.05%
Minimum Balance to Earn APY $5

Members 1st Credit Union Child Share Review

Members 1st Credit Union Child Share is offered by Members 1st Credit Union, founded in 1936 and based in Redding, CA. Members 1st Credit Union Child Share is available in 1 state across the USA.

Key Takeaways
  • Higher than average APY. Members 1st Credit Union Child Share has an annual percentage yield of up to 0.05%, which is higher than the national average interest rate on savings accounts. Note that you must keep a minimum balance of $5.
  • Small minimum initial deposit. You only need $1 to open an account.
Members 1st Credit Union Child Share Pros & Cons
Pros Cons
  • Interest-yielding account.
  • No signup bonus.
  • Does not offer mobile check deposits.
  • Does not provide access to a nationwide ATM network.
  • Does not come with a debit card
  • Not FDIC-insured.
  • Only available in one state.
  • Higher than average wire transfer fees.
Members 1st Credit Union Child Share FAQ

Are savings accounts from Members 1st Credit Union federally insured?

No, your Members 1st Credit Union savings accounts are not insured by a federal insurance agency. This means that if Members 1st Credit Union were to fall into financial difficulties, your deposits are not covered by a government backed insurance fund like the FDIC or NCUSIF.

Does Members 1st Credit Union offer a signup bonus?

Members 1st Credit Union Child Share doesn't offer a signup bonus.

What is the minimum initial deposit for Members 1st Credit Union Child Share?

The minimum deposit to open a Members 1st Credit Union Child Share is $1.
Members 1st Credit Union Child Share Minimums
Description
Minimum Balance to Avoid Monthly Fee Starting at $0
Minimum Balance to Earn APY $5
Minimum Opening Deposit Starting at $1
Minimum Required Balance $0

What APY does Members 1st Credit Union offer?

Members 1st Credit Union Child Share offers an APY of 0.05% (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 Members 1st Credit Union Child Share charge?

Members 1st Credit Union Child Share does not charge a monthly service fee. See the fee breakdown section below to view all fees.

  • Outgoing domestic bank transfers come with a $35 fee.
  • Incoming domestic bank transfers come with a $10 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.
  • Incoming international bank transfers come with a $35 fee.
  • Members 1st Credit Union Child Share charges a $10 fee for an early account closure. Contact Members 1st Credit Union Child Share for more details on what is considered an early closure.
  • Members 1st Credit Union Child Share charges $5 every time you request a paper statement.

What features and perks does Members 1st Credit Union Child Share offer?

This savings account includes the following features:

Can you set up a direct deposit to Members 1st Credit Union Child Share?

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 Members 1st Credit Union Child Share?

The customer support email for Members 1st Credit Union Child Share is updates@m1cu.org.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 1 state
California
Availabile in all of California

Feature Breakdown

Minimum Balance to Avoid Monthly Fee Starting at $0
Minimum Balance to Earn APY $5
Minimum Opening Deposit Starting at $1
Minimum Required Balance $0
International ATM Surcharge $0
Monthly Fee $0
Early Account Closure $10
Paper Statement Fee $5
Returned Deposit Fee (Domestic) $26
Wire Transfer Fee - Domestic (Incoming) $10
Wire Transfer Fee - Domestic (Outgoing) $35
Wire Transfer Fee - International (Incoming) $35
Wire Transfer Fee - International (Outgoing) $35
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of Identity
  • Government Issued Photo ID
  • Social Security Number
Account Features
  • No ATM Fees
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Nationwide ATM Network
  • Mobile Banking
  • Fraud Monitoring
  • Debit Card Lock/Unlock
  • Fraud Protection
  • Debit Card
  • Insured by NCUA
  • Branch Access
APY (Annual Percentage Yield) 0.05%

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