Last Updated: 04/18/2025
Y-12 Federal Credit Union Secondary Business Share 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
$0
Minimum Balance to Earn APY
N/A
Y-12 Federal Credit Union Secondary Business Share Account Review
Y-12 Federal Credit Union Secondary Business Share Account is offered by Y-12 Federal Credit Union, a credit union founded in 1950 and based in Oak Ridge, TN. Y-12 Federal Credit Union Secondary Business Share 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 minimum initial deposit. There is no minimum balance required to open an account online.
Y-12 Federal Credit Union Secondary Business Share Account Pros & Cons
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Y-12 Federal Credit Union Secondary Business Share Account FAQ
Are savings accounts from Y-12 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 Y-12 Federal Credit Union offer a signup bonus?
Y-12 Federal Credit Union Secondary Business Share Account doesn't offer a signup bonus.
What is the minimum initial deposit for Y-12 Federal Credit Union Secondary Business Share Account?
There is no minimum deposit to open a Y-12 Federal Credit Union Secondary Business Share Account.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Y-12 Federal Credit Union Secondary Business Share Account offer?
Y-12 Federal Credit Union Secondary Business Share 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 Y-12 Federal Credit Union Secondary Business Share Account charge?
Y-12 Federal Credit Union Secondary Business Share 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 $15.00 fee.
- Incoming domestic bank transfers come with a $10.00 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.
- Incoming international bank transfers come with a $15.00 fee.
- Y-12 Federal Credit Union Secondary Business Share Account charges a $15.00 fee for an early account closure. Contact Y-12 Federal Credit Union Secondary Business Share Account for more details on what is considered an early closure.
- An overdraft on your account will trigger a $32.00 fee per item.
- Y-12 Federal Credit Union Secondary Business Share Account charges $2.00 every time you request a paper statement.
Does Y-12 Federal Credit Union Secondary Business Share Account charge overdraft fees?
Yes, Y-12 Federal Credit Union Secondary Business Share Account charges a $32.00 overdraft fee. Y-12 Federal Credit Union Secondary Business Share Account offers overdraft protection at a cost of $32.00 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.
Can you set up a direct deposit to Y-12 Federal Credit Union Secondary Business Share 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 Y-12 Federal Credit Union Secondary Business Share Account?
The customer support email for Y-12 Federal Credit Union Secondary Business Share Account is Y12info@y12fcu.org.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:30PM
Tuesday
9:00AM - 5:30PM
Wednesday
9:00AM - 5:30PM
Thursday
9:00AM - 5:30PM
Friday
9:00AM - 5:30PM
Saturday
9:00AM - 12:00PM