Last Updated: 04/18/2025
Raiz FCU Youth Savings Account
Unaffiliated
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
Up to 0.25%(Verified 07/04/2024)
Minimum Opening Deposit
$5
Minimum Balance to Earn APY
$100
Raiz FCU Youth Savings Account Review
Raiz FCU Youth Savings Account is offered by Raiz Federal Credit Union, a credit union founded in 1936 and based in El Paso, TX. Raiz FCU Youth Savings Account are available in 50 states, 5 US territories, and Washington, DC.
Key Takeaways
- Higher than average APY. Raiz FCU Youth Savings Account 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 $100.00 to earn that interest rate.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- Small minimum initial deposit. You only need $5.00 to open an account.
Raiz FCU Youth Savings Account Pros & Cons
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Raiz FCU Youth Savings Account 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 Youth Savings Account doesn't offer a signup bonus.
What is the minimum initial deposit for Raiz FCU Youth Savings Account?
The minimum deposit to open a Raiz FCU Youth Savings Account is $5.00.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | Starting at $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $100.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $5.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Raiz FCU Youth Savings Account offer?
Raiz FCU Youth Savings Account offers an APY up to 0.25% (APY stands for annual percentage yield, rates may change).
What fees does Raiz FCU Youth Savings Account charge?
Raiz FCU Youth Savings Account 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.
- Raiz FCU Youth Savings Account charges a $5.00 fee for an early account closure. Contact Raiz FCU Youth Savings Account for more details on what is considered an early closure.
- An overdraft on your account will trigger a $39.95 fee per item.
- Raiz FCU Youth Savings Account charges $5.00 every time you request a paper statement.
Does Raiz FCU Youth Savings Account charge overdraft fees?
Yes, Raiz FCU Youth Savings Account charges a $39.95 overdraft fee. Raiz FCU Youth Savings Account 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 Youth Savings Account offer?
This savings account includes the following features:
- Mobile Banking Services - Raiz FCU 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 Raiz FCU 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.
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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