Members First Credit Union Texas Money Market

Members First Credit Union Texas Money Market Review

Members First Credit Union Texas Money Market is offered by Members First Credit Union - Texas, a credit union founded in 1938 and based in Corpus Christi, TX. Members First Credit Union Texas Money Market are available in 1 state across the USA.

Key Takeaways

• Higher than average APY. Members First Credit Union Texas Money Market has an annual percentage yield of up to 0.25%, which is higher than the average interest rate for savings accounts. Note that you must keep a minimum balance of $3000 to earn that interest rate.
• Large minimum initial deposit. You need a minimum deposit of $3,000 to open an account. This is a relatively large minimum initial deposit when compared to the other accounts that we track.

Members First Credit Union Texas Money Market 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.

Members First Credit Union Texas Money Market FAQ

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

Members First Credit Union Texas Money Market doesn't offer a signup bonus.

What is the minimum initial deposit for Members First Credit Union Texas Money Market?

The minimum deposit to open a Members First Credit Union Texas Money Market is $3,000.

Members First Credit Union Texas Money Market Minimums

Description
Minimum Balance to Earn APY	$3,000
Minimum Opening Deposit	Starting at $3,000

What APY does Members First Credit Union Texas Money Market offer?

Members First Credit Union Texas Money Market offers an APY of 0.25% (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 Credit Union Texas Money Market charge?

Members First Credit Union Texas Money Market does not charge a monthly service fee. See the fee breakdown section below to view all fees.

• Outgoing domestic bank transfers come with a $15 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.
• Members First Credit Union Texas Money Market charges a $15 fee for an early account closure. Contact Members First Credit Union Texas Money Market for more details on what is considered an early closure.
• Members First Credit Union Texas Money Market charges $2 every time you request a paper statement.

What features and perks does Members First Credit Union Texas Money Market offer?

This savings account includes the following features:

• Fraud monitoring - Members First Credit Union Texas Money Market 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.
• Mobile Banking Services - Members First Credit Union Texas Money Market 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 Credit Union Texas Money Market?

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 Credit Union Texas Money Market?

The customer support email for Members First Credit Union Texas Money Market is info@m1st.org.