Credit Union 1 Saving Account Fee: What You Need to Know

Credit Union 1's savings account has a low minimum balance requirement of $100 to avoid the $5 monthly maintenance fee.

The fee is waived for members under 18 or over 65, which is a great perk for students and seniors.

To avoid the fee, you can also maintain an average daily balance of $100 or more in your account.

This is a relatively low requirement, making it easy to keep your account fee-free.

Credit Union 1 offers a range of benefits that make it an attractive option for savers.

You can earn higher interest rates on your savings with Credit Union 1, allowing your money to grow faster. This is especially beneficial for long-term savings goals.

Their low fees and no monthly maintenance fees on most accounts make managing your finances more affordable.

One of the most significant benefits of banking with Credit Union 1 is the absence of monthly maintenance fees. This means you can save money on unnecessary fees.

With no monthly maintenance fees, you can enjoy a more affordable banking experience.

According to the credit union's financial policies, members are not charged for maintaining their accounts, regardless of the balance.

One of the many benefits of joining Credit Union 1 is that you can enjoy low or no overdraft fees. With their flexible overdraft options, you can avoid the hassle and expense of traditional overdraft fees. Credit Union 1 offers a range of overdraft options, including free overdrafts for eligible members.

You can also opt for a low-fee overdraft line of credit, which can help you avoid costly overdraft fees. This option is particularly useful for members who occasionally need to make purchases or pay bills when their account balance is low.

To join a credit union, you'll need to open a Regular Share Savings account with a minimum deposit of $10, which includes a one-time $5 LAFCU membership fee. This fee is waived if you're eligible to join through the LOS ANGELES CHARITABLE ASSOCIATION (LACA), in which case you'll need to pay a $10 LACA membership fee instead.

You'll also need to provide your California driver's license or ID, Social Security Number, and information about your income. Additionally, a "ChexSystems" and credit check will be run on you.

To qualify for membership, you or your immediate family member must be a resident of one of the following Southern California counties: Los Angeles, Imperial, Kern, Orange, Riverside, San Bernardino, San Diego, San Luis Obispo, Santa Barbara, or Ventura.

Joining LAFCU is easier than you think. To start, you'll need to open a Regular Share Savings account with a minimum deposit of $10.

This deposit includes a $5 savings account deposit and a one-time $5 LAFCU membership fee. If you're eligible to join through the LOS ANGELES CHARITABLE ASSOCIATION (LACA), you'll also need to pay a $10 LACA membership fee.

You'll need to provide some basic information to open the account, including your California driver's license or ID, Social Security Number, and income details. Your credit history will also be checked, and you may be subject to a "ChexSystems" and hard-hit on your credit.

To be eligible to join LAFCU, you or a family member must be a resident of one of the following Southern California counties: Los Angeles, Imperial, Kern, Orange, Riverside, San Bernardino, San Diego, San Luis Obispo, Santa Barbara, or Ventura.

You'll need to maintain a $50 balance in your account after six months to avoid a monthly fee. To make it easier, here are the account-opening requirements at a glance:

Joining a credit union can be a smart financial move. You can open a savings account with no monthly maintenance fees.

With a savings account, you won't be charged for not meeting a minimum balance requirement. This means you can keep your money safe without worrying about extra fees.

You can expect the same great features with your savings account as you would with a checking account, including no monthly maintenance fees and no minimum balance requirements.