Last Updated: 04/18/2025
MWRD Employees CU MyChoice Savings Account
Unaffiliated
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.05%(Verified 08/02/2024)
Minimum Opening Deposit
$0
Minimum Balance to Earn APY
$5
MWRD Employees CU MyChoice Savings Account Review
MWRD Employees CU MyChoice Savings Account is offered by MWRD Employees Credit Union, a credit union founded in 1953 and based in Chicago, IL. MWRD Employees CU MyChoice 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.
- No minimum initial deposit. There is no minimum balance required to open an account online.
MWRD Employees CU MyChoice Savings Account Pros & Cons
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MWRD Employees CU MyChoice Savings Account FAQ
Are savings accounts from MWRD Employees’ 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 MWRD Employees Credit Union offer a signup bonus?
MWRD Employees CU MyChoice Savings Account doesn't offer a signup bonus.
What is the minimum initial deposit for MWRD Employees CU MyChoice Savings Account?
There is no minimum deposit to open a MWRD Employees CU MyChoice Savings Account.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $5.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Required Balance | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does MWRD Employees CU MyChoice Savings Account offer?
MWRD Employees CU MyChoice 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 MWRD Employees CU MyChoice Savings Account charge?
MWRD Employees CU MyChoice Savings Account does not charge a monthly service fee. See the fee breakdown section below to view all fees.
- An overdraft on your account will trigger a $30.00 fee per item.
Does MWRD Employees CU MyChoice Savings Account charge overdraft fees?
Yes, MWRD Employees CU MyChoice Savings Account charges a $30.00 overdraft fee.What features and perks does MWRD Employees CU MyChoice Savings Account offer?
This savings account includes the following features:
- Mobile Banking Services - MWRD Employees CU MyChoice 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 MWRD Employees CU MyChoice 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 MWRD Employees CU MyChoice Savings Account?
The customer support email for MWRD Employees CU MyChoice Savings Account is memberservices@mwrdecu.com.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 3:00PM
Tuesday
9:00AM - 3:00PM
Wednesday
Closed
Thursday
9:00AM - 3:00PM
Friday
9:00AM - 3:00PM
Saturday
Closed