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Last Updated: 04/18/2025

Spectrum Credit Union MySavings Youth Account

in Savings Accounts from Spectrum Federal Credit Union

Last Updated: 04/18/2025

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APY (Annual Percentage Yield)

0.75% - 7%(Verified 06/21/2024)
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Minimum Opening Deposit

Up to $25

Minimum Balance to Earn APY

$25
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Spectrum Credit Union MySavings Youth Account Review

Spectrum Credit Union MySavings Youth Account is offered by Spectrum Federal Credit Union, a credit union founded in 1973 and based in Oakland, CA. Spectrum Credit Union savings Account are available in 50 states and Washington, DC.

Key Takeaways

  • High yield savings. This account offers an annual percentage yield of up to 7%*, which is much higher than the average interest rate for a savings account. However, you must meet minimum balance requirements for higher APYs.

Spectrum Credit Union savings Account Pros & Cons

Spectrum Credit Union savings Account FAQ

Are savings accounts from Spectrum Federal Credit Union federally insured?

No, your Spectrum Federal Credit Union savings accounts are not insured by a federal insurance agency. This means that if Spectrum Federal Credit Union were to fall into financial difficulties, your deposits are not covered by a government-backed insurance fund like the FDIC or NCUSIF.

Does Spectrum Federal Credit Union offer a signup bonus?

Spectrum Credit Union savings Account doesn't offer a signup bonus.

What is the minimum initial deposit for Spectrum Credit Union savings Account?

What APY* does Spectrum Credit Union MySavings Youth Account offer?

Spectrum Credit Union savings Account offers a variable APY* starting at 0.75% and ranging up to 7% (APY stands for annual percentage yield, rates may change).
Dividend rate applies to balances up to and including $1000.00. Balances of $1,000.01 and above will earn the same dividend rate as Primary Share Savings account.

What fees does Spectrum Credit Union savings Account charge?

Spectrum Credit Union savings Account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

    Can you set up a direct deposit to Spectrum Credit Union 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 Spectrum Credit Union savings Account?

    The customer support email for Spectrum Credit Union savings Account is spectrummail@spectrumcu.org.

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    Contact

    Headquarters

    500 12th Street, Suite 200
    Oakland, CA 94607
    (800) 782-8782
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    Email Support

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