Members 1st Community CU Health Savings Accounts

Members 1st Community CU Health Savings Accounts Review

Members 1st Community CU Health Savings Accounts is offered by Members First Community Credit Union, a credit union founded in 1954 and based in Quincy, IL. Members 1st Community CU Health Savings Accounts are available in 1 state across the USA.

Key Takeaways

• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 3.562%, which is much higher than the average interest rate for a savings account. However, you must keep a minimum balance of $0.01 to earn that insterest rate.
• $0 monthly fee. This account does not charge any monthly account fees.

Members 1st Community CU Health Savings Accounts Pros & Cons

Pros	Cons
High variable APY. Insured by NCUA. Access to physical branches. Free debit card and the option to lock/unlock the card if lost or stolen	No signup bonus. Does not provide access to a nationwide ATM network. Only available in one state.

Members 1st Community CU Health Savings Accounts FAQ

Are savings accounts from Members First Community 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 First Community Credit Union offer a signup bonus?

Members 1st Community CU Health Savings Accounts doesn't offer a signup bonus.

What is the minimum initial deposit for Members 1st Community CU Health Savings Accounts?

Members 1st Community CU Health Savings Accounts Minimums

Description
Minimum Balance to Avoid Monthly Fee	Starting at $0
Minimum Balance to Earn APY	$0.01

What APY does Members 1st Community CU Health Savings Accounts offer?

Members 1st Community CU Health Savings Accounts offers an APY of 3.562% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only savings accounts, which is around 1% APY.

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 Community CU Health Savings Accounts charge?

Members 1st Community CU Health Savings Accounts does not charge a monthly service fee. See the fee breakdown section below to view all fees.

What features and perks does Members 1st Community CU Health Savings Accounts offer?

This savings account includes the following features:

• Fraud monitoring - Members 1st Community CU Health Savings Accounts monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
• Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
• Mobile Banking Services - Members 1st Community CU Health Savings Accounts allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.

Can you set up a direct deposit to Members 1st Community CU Health Savings Accounts?

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 1st Community CU Health Savings Accounts?

The customer support email for Members 1st Community CU Health Savings Accounts is mfccu@membersfirstccu.com .