Last Updated: 04/18/2025
Raiz FCU IRAs
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Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
Up to 3.00%(Verified 07/04/2024)
Minimum Opening Deposit
$1
Minimum Balance to Earn APY
$1
Raiz FCU IRAs Review
Raiz FCU IRAs is offered by Raiz Federal Credit Union, a credit union founded in 1936 and based in El Paso, TX. Raiz FCU IRAs are available in 50 states, 5 US territories, and Washington, DC.
Key Takeaways
- High yield savings. This account offers an annual percentage yield of up to 3.00%, which is much higher than the average interest rate for a savings account.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- Small minimum initial deposit. You only need $1.00 to open an account.
Raiz FCU IRAs Pros & Cons
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Raiz FCU IRAs FAQ
Are savings accounts from Raiz Federal 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 Raiz Federal Credit Union offer a signup bonus?
Raiz FCU IRAs doesn't offer a signup bonus.
What is the minimum initial deposit for Raiz FCU IRAs?
The minimum deposit to open a Raiz FCU IRAs is $1.00.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $1.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $1.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Raiz FCU IRAs offer?
Raiz FCU IRAs offers an APY up to 3.00% (APY stands for annual percentage yield, rates may change). This is higher than the national average rate for savings accounts.
What fees does Raiz FCU IRAs charge?
Raiz FCU IRAs does not charge a monthly service fee. See the fee breakdown section below to view all fees.
- Outgoing domestic bank transfers come with a $30.00 fee.
- An overdraft on your account will trigger a $39.95 fee per item.
- Raiz FCU IRAs charges $5.00 every time you request a paper statement.
Does Raiz FCU IRAs charge overdraft fees?
Yes, Raiz FCU IRAs charges a $39.95 overdraft fee. Raiz FCU IRAs offers overdraft protection at a cost of $10.00 per transaction. This overdraft protection fee is charged every time the bank arranges a transfer from another one of your accounts, typically a savings account, to cover the overdraft.
What features and perks does Raiz FCU IRAs offer?
This savings account includes the following features:
- Mobile Banking Services - Raiz FCU IRAs 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 Raiz FCU IRAs?
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.
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Hours of Operation
Sunday
Closed
Monday
9:30AM - 5:30PM
Tuesday
9:30AM - 5:30PM
Wednesday
9:30AM - 5:30PM
Thursday
9:30AM - 5:30PM
Friday
9:30AM - 5:30PM
Saturday
9:30AM - 12:30PM