Last Updated: 04/18/2025
Transit Employees FCU Business Savings Account
Unaffiliated
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.30%(Verified 06/21/2024)
Minimum Opening Deposit
$25
Minimum Balance to Earn APY
N/A
Transit Employees FCU Business Savings Account Review
Transit Employees FCU Business Savings Account is offered by Transit Employees Federal Credit Union, a credit union founded in and based in Washington, DC. Transit Employees FCU Business Savings Account are available in 50 states and Washington, DC.
Key Takeaways
- Higher than average APY. Transit Employees FCU Business Savings Account has an annual percentage yield of up to 0.30%, which is higher than the average interest rate for savings accounts.
- No ATM fees. Transit Employees FCU Business Savings Account does not charge fees on ATM transactions .
Transit Employees FCU Business Savings Account Pros & Cons
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Transit Employees FCU Business Savings Account FAQ
Are savings accounts from Transit Employees 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 Transit Employees Federal Credit Union offer a signup bonus?
Transit Employees FCU Business Savings Account doesn't offer a signup bonus.
What is the minimum initial deposit for Transit Employees FCU Business Savings Account?
The minimum deposit to open a Transit Employees FCU Business Savings Account is $25.00.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $25.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Transit Employees FCU Business Savings Account offer?
Transit Employees FCU Business Savings Account offers an APY of 0.30% (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 Transit Employees FCU Business Savings Account charge?
Transit Employees FCU Business Savings 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.
- Transit Employees FCU Business Savings Account charges a $25.00 fee for an early account closure. Contact Transit Employees FCU Business Savings Account for more details on what is considered an early closure.
- An overdraft on your account will trigger a $30.00 fee per item.
- Transit Employees FCU Business Savings Account charges $2.00 every time you request a paper statement.
Does Transit Employees FCU Business Savings Account charge overdraft fees?
Yes, Transit Employees FCU Business Savings Account charges a $30.00 overdraft fee.What features and perks does Transit Employees FCU Business Savings Account offer?
This savings account includes the following features:
- Mobile Banking Services - Transit Employees FCU Business 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 Transit Employees FCU Business 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.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 3:00PM
Tuesday
9:00AM - 3:00PM
Wednesday
9:00AM - 3:00PM
Thursday
9:00AM - 3:00PM
Friday
9:00AM - 3:00PM
Saturday
Closed