Last Updated: 04/18/2025
Transit Employees FCU IRA Savings Account
Unaffiliated
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.40% - 0.50%(Verified 06/21/2024)
Minimum Opening Deposit
$0
Minimum Balance to Earn APY
$0.01
Transit Employees FCU IRA Savings Account Review
Transit Employees FCU IRA Savings Account is offered by Transit Employees Federal Credit Union, a credit union founded in and based in Washington, DC. Transit Employees FCU IRA Savings Account are available in 50 states and Washington, DC.
Key Takeaways
- Higher than average APY. Transit Employees FCU IRA Savings Account has an annual percentage yield of up to 0.50%, which is higher than the average interest rate for savings accounts. Note that you must keep a minimum balance of $0.01 to earn that interest rate.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- No minimum initial deposit. There is no minimum balance required to open an account online.
Transit Employees FCU IRA Savings Account Pros & Cons
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Transit Employees FCU IRA 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 IRA Savings Account doesn't offer a signup bonus.
What is the minimum initial deposit for Transit Employees FCU IRA Savings Account?
There is no minimum deposit to open a Transit Employees FCU IRA Savings Account.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $0.01 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Transit Employees FCU IRA Savings Account offer?
Transit Employees FCU IRA Savings Account offers a variable APY starting at 0.40% and ranging up to 0.50% (APY stands for annual percentage yield, rates may change).
What fees does Transit Employees FCU IRA Savings Account charge?
Transit Employees FCU IRA 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.
- An overdraft on your account will trigger a $30.00 fee per item.
- Transit Employees FCU IRA Savings Account charges $2.00 every time you request a paper statement.
Does Transit Employees FCU IRA Savings Account charge overdraft fees?
Yes, Transit Employees FCU IRA Savings Account charges a $30.00 overdraft fee.What features and perks does Transit Employees FCU IRA Savings Account offer?
This savings account includes the following features:
- Mobile Banking Services - Transit Employees FCU IRA Savings Account allows you to manage your money online or with a mobile app.
- Nationwide ATM network - Conveniently transact at a nearby ATM.
Can you set up a direct deposit to Transit Employees FCU IRA 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