Last Updated: 04/18/2025
Riverbank FCU Primary Savings/Membership Account
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Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.02%(Verified 06/24/2024)
Minimum Opening Deposit
$25
Minimum Balance to Earn APY
$500
Riverbank FCU Primary Savings/Membership Account Review
Riverbank FCU Primary Savings/Membership Account is offered by Riverbank Federal Credit Union, a credit union founded in 1940 and based in Windsor Locks, CT. Riverbank FCU Primary Savings/Membership 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 0.02%.
- No monthly maintenance fees. This account does not charge any monthly account fees.
Riverbank FCU Primary Savings/Membership Account Pros & Cons
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Riverbank FCU Primary Savings/Membership Account FAQ
Are savings accounts from Riverbank 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 Riverbank Federal Credit Union offer a signup bonus?
Riverbank FCU Primary Savings/Membership Account doesn't offer a signup bonus.
What is the minimum initial deposit for Riverbank FCU Primary Savings/Membership Account?
The minimum deposit to open a Riverbank FCU Primary Savings/Membership Account is $25.00.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $500.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $25.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Riverbank FCU Primary Savings/Membership Account offer?
Riverbank FCU Primary Savings/Membership Account offers an APY of 0.02% (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 Riverbank FCU Primary Savings/Membership Account charge?
Riverbank FCU Primary Savings/Membership 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.
- Outgoing international bank transfers come with a $60.00 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
- Riverbank FCU Primary Savings/Membership Account charges a $25.00 fee for an early account closure. Contact Riverbank FCU Primary Savings/Membership Account for more details on what is considered an early closure.
- An overdraft on your account will trigger a $25.00 fee per item.
- Riverbank FCU Primary Savings/Membership Account charges $2.00 every time you request a paper statement.
Does Riverbank FCU Primary Savings/Membership Account charge overdraft fees?
Yes, Riverbank FCU Primary Savings/Membership Account charges a $25.00 overdraft fee. Riverbank FCU Primary Savings/Membership Account offers overdraft protection at a cost of $2.00 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 Riverbank FCU Primary Savings/Membership Account offer?
This savings account includes the following features:
- Mobile Banking Services - Riverbank FCU Primary Savings/Membership 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 Riverbank FCU Primary Savings/Membership 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 Riverbank FCU Primary Savings/Membership Account?
The customer support email for Riverbank FCU Primary Savings/Membership Account is memberservices@riverbankfcu.com.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 4:00PM
Tuesday
9:00AM - 4:00PM
Wednesday
9:00AM - 4:00PM
Thursday
9:00AM - 6:00PM
Friday
9:00AM - 5:00PM
Saturday
9:00AM - 12:30PM