Last Updated: 04/18/2025
TRUE Community CU Youth Savings Account
Unaffiliated
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.05%(Verified 06/21/2024)
Minimum Opening Deposit
$5
Minimum Balance to Earn APY
N/A
TRUE Community CU Youth Savings Account Review
TRUE Community CU Youth Savings Account is offered by TRUE Community Credit Union, a credit union founded in 1953 and based in Jackson, MI. TRUE Community CU Youth Savings Account are available in 50 states and Washington, DC.
Key Takeaways
- Low interest rate. The maximum annual percentage yield for this account is only 0.05%.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- Small minimum initial deposit. You only need $5.00 to open an account.
TRUE Community CU Youth Savings Account Pros & Cons
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TRUE Community CU Youth Savings Account FAQ
Are savings accounts from TRUE Community 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 TRUE Community Credit Union offer a signup bonus?
TRUE Community CU Youth Savings Account doesn't offer a signup bonus.
What is the minimum initial deposit for TRUE Community CU Youth Savings Account?
The minimum deposit to open a TRUE Community CU Youth Savings Account is $5.00.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $5.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Required Balance | $5.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does TRUE Community CU Youth Savings Account offer?
TRUE Community CU Youth Savings Account offers an APY of 0.05% (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 TRUE Community CU Youth Savings Account charge?
TRUE Community CU Youth 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.
- Outgoing international bank transfers come with a $50.00 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
- An overdraft on your account will trigger a $30.00 fee per item.
- TRUE Community CU Youth Savings Account charges $5.00 every time you request a paper statement.
Does TRUE Community CU Youth Savings Account charge overdraft fees?
Yes, TRUE Community CU Youth Savings Account charges a $30.00 overdraft fee. TRUE Community CU Youth Savings Account offers overdraft protection at a cost of $5.00 per transaction. This overdraft protection fee is charged every time the bank arranges a transfer from another one of your accounts, typically a savings account, to cover the overdraft.
What features and perks does TRUE Community CU Youth Savings Account offer?
This savings account includes the following features:
- Mobile Banking Services - TRUE Community CU Youth 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 TRUE Community CU Youth 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
9:30AM - 5:30PM
Tuesday
9:30AM - 5:30PM
Wednesday
9:30AM - 5:30PM
Thursday
9:30AM - 5:30PM
Friday
9:30AM - 5:30PM
Saturday
Closed