Last Updated: 04/18/2025
Schools First Federal Credit Union Share Savings Account
Unaffiliated
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.10%(Verified 06/21/2024)
Disclaimer popup with additional information
Minimum Opening Deposit
Starting at $5
Minimum Balance to Earn APY
N/A
Schools First Federal Credit Union Share Savings Account Review
Schools First Federal Credit Union Share Savings Account is offered by Schools First Federal Credit Union, a credit union founded in 1934 and based in Santa Ana, CA. Schools First savings account are available in 1 state.
Key Takeaways
- Low interest rate. The maximum annual percentage yield for this account is only 0.10%.
- No monthly maintenance fees. This account does not charge any monthly account fees as long as you keep a minimum balance of $5 .
- Small minimum initial deposit. You only need $5 to open an account.
- No ATM fees. Schools First Federal Credit Union Share Savings Account does not charge fees on ATM transactions .
Schools First savings account Pros & Cons
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Schools First savings account FAQ
Are savings accounts from Schools First 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 Schools First Federal Credit Union offer a signup bonus?
Schools First savings account doesn't offer a signup bonus.
What is the minimum initial deposit for Schools First savings account?
The minimum deposit to open a Schools First savings account is $5.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | Starting at $5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | Starting at $5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Required Balance | $5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Schools First Federal Credit Union Share Savings Account offer?
Schools First savings account offers an APY of 0.10% (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 Schools First savings account charge?
Schools First savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.
However, you can waive the monthly fees if you have a minimum daily balance of $5.
- Outgoing domestic bank transfers come with a $20 fee.
What features and perks does Schools First savings account offer?
This savings account includes the following features:
- Check images with monthly statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks for each statement period.
- Fraud monitoring - Schools First savings account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
- Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
- Mobile Banking Services - Schools First savings account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
- Nationwide ATM network - Conveniently transact at a nearby ATM.
Can you set up a direct deposit to Schools First 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 Schools First savings account?
The customer support email for Schools First savings account is info@schoolsfirstfcu.org.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
9:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 6:00PM
Saturday
9:00AM - 2:00PM