Last Updated: 04/18/2025
Monterra Credit Union Youth Savings Account
Unaffiliated
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.05%(Verified 06/21/2024)
Minimum Opening Deposit
Starting at $1
Minimum Balance to Earn APY
N/A
Monterra Credit Union Youth Savings Account Review
Monterra Credit Union Youth Savings Account is offered by Monterra Credit Union, a credit union founded in 1952 and based in Redwood City, CA. Monterra Credit Union Youth Savings Account are available in 50 states, 5 US territories, and Washington, DC.
Key Takeaways
- Low interest rate. The maximum annual percentage yield for this account is only 0.05%.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- Small minimum initial deposit. You only need $1 to open an account.
- No ATM fees. Monterra Credit Union Youth Savings Account does not charge fees on ATM transactions .
Monterra Credit Union Youth Savings Account Pros & Cons
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Monterra Credit Union Youth Savings Account FAQ
Are savings accounts from san mateo 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 Monterra Credit Union offer a signup bonus?
Monterra Credit Union Youth Savings Account doesn't offer a signup bonus.
What is the minimum initial deposit for Monterra Credit Union Youth Savings Account?
The minimum deposit to open a Monterra Credit Union Youth Savings Account is $1.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | Starting at $1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Monterra Credit Union Youth Savings Account offer?
Monterra Credit Union Youth Savings Account 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 Monterra Credit Union Youth Savings Account charge?
Monterra Credit Union Youth Savings Account does not charge a monthly service fee. See the fee breakdown section below to view all fees.
What features and perks does Monterra Credit Union Youth Savings Account offer?
This savings account includes the following features:
- Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
- Mobile Banking Services - Monterra Credit Union Youth Savings Account allows you to manage your money online or with a mobile app.
- Nationwide ATM network - Conveniently transact at a nearby ATM.
Can you set up a direct deposit to Monterra Credit Union Youth Savings Account?
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 Monterra Credit Union Youth Savings Account?
The customer support email for Monterra Credit Union Youth Savings Account is communityrelations@smcu.org.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
9:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 5:00PM
Saturday
9:00AM - 2:00PM