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  Teachers Federal Credit Union Savings Account

Teachers Federal Credit Union Savings Account

in Savings Accounts from Teachers Federal Credit Union · ncua

Unaffiliated

Teachers Federal Credit Union Savings Account

Unaffiliated

in Savings Accounts from Teachers Federal Credit Union · Insured by NCUA

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Highlights
Monthly Fee $0
APY (Annual Percentage Yield) 0.1%
APY Minimum Balance $50

Teachers Federal Credit Union Savings Account Review

Teachers Federal Credit Union Savings Account is offered by Teachers Federal Credit Union, a credit union founded in 1974 and based in Hauppauge, NY. Teachers Federal Credit Union Savings Account is available in 1 state across the USA.

Key Takeaways
  • Higher than average APY. Teachers Federal Credit Union Savings Account has an annual percentage yield of up to 0.1%, which is higher than the national average interest rate on savings accounts. Note that you must keep a minimum balance of $50.
  • $0 monthly fee. This account does not charge a monthly Service Charge as long as you keep a minimum balance of $1.
  • No ATM fees. Teachers Federal Credit Union Savings Account does not charge fees on ATM transactions.
  • Bill pay. Pay your bills to practically anyone in the United States through Teachers Federal Credit Union.
Teachers Federal Credit Union savings account Pros & Cons
Pros Cons
  • Dividend-yielding account
  • Insured by NCUA.
  • Access to physical branches.
  • No signup bonus.
  • Does not come with a debit card
  • Only available in one state.
  • Higher than average wire transfer fees.
Teachers Federal Credit Union savings account FAQ

Are savings accounts from Teachers Federal Credit Union federally insured?

Yes, your Teachers Federal Credit Union 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 Teachers Federal Credit Union offer a signup bonus?

Teachers Federal Credit Union savings account doesn't offer a signup bonus.

What is the minimum initial deposit for Teachers Federal Credit Union savings account?

Teachers Federal Credit Union Savings Account Minimums
Description
APY Minimum Balance $50
Minimum Balance to Avoid Monthly Fee Starting at $1
Minimum Required Balance $1

What APY does Teachers Federal Credit Union offer?

Teachers Federal Credit Union savings account offers an APY of 0.1% (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 Teachers Federal Credit Union savings account charge?

Teachers Federal Credit Union 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 $1.

  • Outgoing domestic bank transfers come with a $20 fee.
  • Incoming domestic bank transfers come with a $10 fee.
  • Outgoing international bank transfers come with a $50 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
  • Incoming international bank transfers come with a $10 fee.
  • Teachers Federal Credit Union savings account charges $3 every time you request a paper statement.

What features and perks does Teachers Federal Credit Union savings account offer?

This savings account includes the following features:

  • Fraud monitoring - Teachers Federal Credit Union 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 - Teachers Federal Credit Union 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 Teachers Federal Credit Union savings account?

In most cases, the answer is yes. 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 Teachers Federal Credit Union savings account?

The customer support email for Teachers Federal Credit Union savings account is webmail@teachersfcu.org.

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Contact

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

Other Services by Teachers Federal Credit Union

Availability

  Available in 1 state
New York
Availabile in all of New York

Feature Breakdown

APY Minimum Balance $50
Minimum Balance to Avoid Monthly Fee Starting at $1
Minimum Required Balance $1
Monthly Fee $0
Paper Statement Fee $3
Returned Deposit Fee (Domestic) $15
Wire Transfer Fee - Domestic (Incoming) $10
Wire Transfer Fee - Domestic (Outgoing) $20
Wire Transfer Fee - International (Incoming) $10
Wire Transfer Fee - International (Outgoing) $50
Bauer Financial A+/A Rating
Account Features
  • Automatic Transfers
  • Bauer Financial A+/A Rating
  • Branch Access
  • Fraud Monitoring
  • Free Bill Pay
  • Interest Bearing Account
  • Mobile Banking
  • Mobile Check Deposit
  • Nationwide ATM Network
  • Insured by NCUA
  • No ATM Fees
  • No Monthly Maintenance Fee
APY (Annual Percentage Yield) 0.1%

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