Last Updated: 04/18/2025
Members Cooperative CU Share Savings Account
Unaffiliated
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.10%(Verified 06/21/2024)
Minimum Opening Deposit
Starting at $5
Minimum Balance to Earn APY
$5
Members Cooperative CU Share Savings Account Review
Members Cooperative CU Share Savings Account is offered by Members Cooperative Credit Union, a credit union founded in 1936 and based in Duluth, MN. Members Cooperative CU Savings are available in 50 states and Washington, DC.
Key Takeaways
- Low interest rate. The maximum annual percentage yield for this account is only 0.10%.
- No monthly maintenance fee. No monthly service charge with a $50 average daily balance or for account holders under age 18.
- Small minimum initial deposit. You only need $5 to open an account.
- No ATM fees. Members Cooperative CU Share Savings Account does not charge fees on ATM transactions .
Members Cooperative CU Savings Pros & Cons
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Members Cooperative CU Savings FAQ
Are savings accounts from Members Cooperative 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 Members Cooperative Credit Union offer a signup bonus?
Members Cooperative CU Savings doesn't offer a signup bonus.
What is the minimum initial deposit for Members Cooperative CU Savings?
The minimum deposit to open a Members Cooperative CU Savings is $5.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | Starting at $5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Members Cooperative CU Share Savings Account offer?
Members Cooperative CU Savings offers an APY of 0.10% (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 Cooperative CU Savings charge?
Members Cooperative CU Savings does not charge a monthly service fee. See the fee breakdown section below to view all fees.
What features and perks does Members Cooperative CU Savings offer?
This savings account includes the following features:
- Nationwide ATM network - Conveniently transact at a nearby ATM.
Can you set up a direct deposit to Members Cooperative CU Savings?
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 Members Cooperative CU Savings?
The customer support email for Members Cooperative CU Savings is memberservices@membersccu.org.
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Hours of Operation
Sunday
Closed
Monday
8:00AM - 5:30PM
Tuesday
8:00AM - 5:30PM
Wednesday
8:00AM - 5:30PM
Thursday
8:00AM - 5:30PM
Friday
8:00AM - 5:30PM
Saturday
8:30AM - 5:30PM