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  Members First CU of Florida Regular Savings
Members First CU of Florida Regular Savings Unaffiliated

Members First CU of Florida Regular Savings

Unaffiliated
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Highlights
Monthly Fee $5
APY (Annual Percentage Yield) 0.15%
Minimum Balance to Earn APY $100

Members First CU of Florida Regular Savings Review

Members First CU of Florida Regular Savings is offered by Members First Credit Union of Florida, a credit union founded in 1954 and based in Pensacola, FL. Members First CU of Florida Regular Savings are available in 1 state across the USA.

Key Takeaways

  • Low interest rate. The maximum annual percentage yield for this account is only 0.15%.
  • Charges a monthly fee. This account charges a monthly service fee of $5, but the fee is waived if you keep a minimum balance of $100.

Members First CU of Florida Regular Savings Pros & Cons

Pros Cons
  • Dividend-yielding account.
  • Insured by NCUA.
  • Access to physical branches.
  • No signup bonus.
  • Does not provide access to a nationwide ATM network.
  • Does not come with a debit card
  • Only available in one state.
  • Higher than average wire transfer fees.
  • Monthly service charge.

Members First CU of Florida Regular Savings FAQ

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

Members First CU of Florida Regular Savings doesn't offer a signup bonus.

What is the minimum initial deposit for Members First CU of Florida Regular Savings?

Members First CU of Florida Regular Savings Minimums
Description
Minimum Balance to Avoid Monthly Fee Starting at $100
Minimum Balance to Earn APY $100
Minimum Required Balance $100

What APY does Members First CU of Florida Regular Savings offer?

Members First CU of Florida Regular Savings offers an APY of 0.15% (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 First CU of Florida Regular Savings charge?

This account charges a monthly service fee of $5. However, you can waive the monthly fees if you have a minimum daily balance of $100.

  • Outgoing domestic bank transfers come with a $15 fee.
  • Incoming domestic bank transfers come with a $10 fee.
  • Outgoing international bank transfers come with a $57.50 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 $10 fee.
  • Members First CU of Florida Regular Savings charges a $25 fee for an early account closure. Contact Members First CU of Florida Regular Savings for more details on what is considered an early closure.
  • Members First CU of Florida Regular Savings charges $3 every time you request a paper statement.

What features and perks does Members First CU of Florida Regular Savings offer?

This savings account includes the following features:

  • Fraud monitoring - Members First CU of Florida Regular Savings 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 First CU of Florida Regular Savings 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 First CU of Florida Regular 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 First CU of Florida Regular Savings?

The customer support email for Members First CU of Florida Regular Savings is mfcufl@mfcufl.org.

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Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 4:30pm
  • Tuesday 9:00am - 4:30pm
  • Wednesday 9:00am - 4:30pm
  • Thursday 9:00am - 4:30pm
  • Friday 9:00am - 4:30pm
  • Saturday 8:30am - 12:00pm

Other Services by Members First Credit Union of Florida

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Availability

  Available in 1 state
Florida
Availabile in all of Florida

Feature Breakdown

Minimum Balance to Avoid Monthly Fee Starting at $100
Minimum Balance to Earn APY $100
Minimum Required Balance $100
Monthly Fee $5
Wire Transfer Fee - Domestic (Incoming) $10
Wire Transfer Fee - Domestic (Outgoing) $15
Wire Transfer Fee - International (Incoming) $10
Wire Transfer Fee - International (Outgoing) $57.50
Paper Statement Fee $3
Early Account Closure $25
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
  • Free Bill Pay
  • Mobile Check Deposit
  • Interest Bearing Account
  • Mobile Banking
  • Fraud Monitoring
  • Fraud Protection
  • Insured by NCUA
  • Branch Access
APY (Annual Percentage Yield) 0.15%

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