Last Updated: 04/18/2025
Royal Credit Union Kid's Savings
Unaffiliated
in Savings Accounts from Royal Credit Union
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.40%(Verified 06/21/2024)
Minimum Opening Deposit
Starting at $5
Minimum Balance to Earn APY
$5
Royal Credit Union Kid's Savings Review
Royal Credit Union Kid's Savings is offered by Royal Credit Union, a credit union founded in 1964 and based in Eau Claire, WI. Royal Credit Union Kid's Savings are available in 50 states and Washington, DC.
Key Takeaways
- Higher than average APY. Royal Credit Union Kid's Savings has an annual percentage yield of up to 0.40%, which is higher than the average interest rate for savings accounts. Note that you must keep a minimum balance of $5 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 to open an account.
Royal Credit Union Kid's Savings Pros & Cons
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Royal Credit Union Kid's Savings FAQ
Are savings accounts from Royal 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 Royal Credit Union offer a signup bonus?
Royal Credit Union Kid's Savings doesn't offer a signup bonus.
What is the minimum initial deposit for Royal Credit Union Kid's Savings?
The minimum deposit to open a Royal Credit Union Kid's Savings is $5.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | Starting at $5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Royal Credit Union Kid's Savings offer?
Royal Credit Union Kid's Savings offers an APY of 0.40% (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 Royal Credit Union Kid's Savings charge?
Royal Credit Union Kid's Savings does not charge a monthly service fee. See the fee breakdown section below to view all fees.
What features and perks does Royal Credit Union Kid's Savings 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 - Royal Credit Union Kid's Savings allows you to manage your money online or with a mobile app.
Can you set up a direct deposit to Royal Credit Union Kid's Savings?
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 Royal Credit Union Kid's Savings?
The customer support email for Royal Credit Union Kid's Savings is member_service@rcu.org.
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Hours of Operation
Sunday
Closed
Monday
8:30AM - 7:00PM
Tuesday
8:30AM - 7:00PM
Wednesday
8:30AM - 7:00PM
Thursday
8:30AM - 7:00PM
Friday
8:30AM - 7:00PM
Saturday
8:30AM - 2:00PM