Family Savings Credit Union is an Alabama-based cooperative founded with 65,000 members and eight branches throughout Alabama and Georgia.
To join Family Savings Credit Union, you must meet at least one of the following criteria:
- Current Goodyear employee
- Live, work or worship in any of the following counties in Alabama: Blount, Calhoun, Cherokee, Cleburne, DeKalb, Etowah, Jackson, Madison, Marshall, Madison or St. Clair
- Live, work or worship in any of the following counties in Georgia: Bartow, Catoosa, Chattooga, Dade, Floyd, Gordon, Haralson, Paulding, Polk or Walker
Family Savings Credit Union offers various banking products to meet your needs:
- NGAGE Checking. Earn cashback and get nationwide ATM fees refunded while earning up to 2.50% APY.
- Members Choice Checking. This account includes free checks plus travel benefits, identity theft resolution and accidental death and dismemberment insurance.
- Freedom Checking. Account holders over age 50 can get free checks with this bare-bones account.
- Cha-Ching Teen Checking. This no-frills account for teens 15 to 18 years old requires a $25 initial deposit to open.
- Regular Share Savings. This basic savings account earns 0.2% to 0.3% APY, depending on your balance, has no monthly service fee and only requires $5 to open.
- NGAGE Reward Saving Accounts. Exclusively available to members with NGAGE Checking accounts, this account earns 1.25% APY on balances up to $15,000.
- Dollar Dog Kids Club. Teach kids the value of saving early with this free account that has no monthly fee and pays out dividends.
- Cha-Ching Teen Club. This teen-centric account is similar to the Dollar Dog Kids Club, but it includes educational resources for adolescents.
- Christmas Club Savings. Start savings for Christmas early with this account that earns dividends on balances greater than $2,000.
- Share certificates. You’ll need $500 to open a certificate and to earn up to 1.05% on a 60-month CD.
- Mortgages. Family Savings Credit Union offers various home loans for first-time and seasoned homebuyers. Compare other mortgage providers in Alabama or Georgia.
- Personal loans. If you need help paying for a car, boat or tuition, Family Savings Credit Union can provide you with a personal loan.
- Credit card. With the Family Savings Credit Union Visa card, your APR could be as low as 7.25% while you earn 1% back in cash rewards.
- Individual retirement accounts. You’ll need $100 to open the account and start earning up to 0.45% APY every quarter.
Family Savings Credit Union offers some compelling features other institutions don’t provide, but there are drawbacks as well.
- Easy waivable monthly fees. As long as you sign up for electronic statements, you won’t pay any fees to keep your savings account active.
- Opening deposit. You only need $1 to open the Christmas Club account and $5 to open the other savings accounts.
- Accounts for all ages. Family Savings Credit Union offers savings accounts for people of all ages.
- Low rates. The maximum APY you could earn 1.25% if you have a qualified Ngage Savings account, but other than that you’ll earn 0.05% to 0.2% APY.
- Not great for high balances. If you have a balance greater than $15,000, the maximum APY you could earn is 0.60%. Many high-yield savings accounts reward you with higher interest the more you save.
- Avoidable monthly fee. Avoid monthly service fees by opting for digital statements.
- Free checks for seniors. Members age 50 and older get free checks.
- Variety of accounts. Family Savings Credit Union has a broad range of checking accounts for adolescents, seniors and everyone in between.
- Initial deposit. All Family Savings Credit Union checking accounts require an initial deposit of at least $25, which is higher than what some other banks and credit unions require.
- Short terms. Family Savings Credit Union offers CDs with a six-month term, while the minimum term with many other institutions is 12 months.
- Competitive APYs. You could earn up to 1.05% on its 60-month term. Other terms offer APYs that are in line with most CD rates you’ll find at other banks.
- Lack of term options. Family Savings Credit Union doesn’t offer many CD term options. Its shortest term is 180 days and its longest is 60 months.
- Nationwide networks. Family Savings Credit Union participates in the Credit Union 24 (CU24) and CO-OP Credit Union networks, granting members access to more than 5,000 branches and 70,000 surcharge-free ATMs across the country.
- Limited support. You can’t chat online with a representative, and there’s no 24/7 live telephone support.
- Membership requirements. You must either work for Goodyear or spend time in a qualifying county to open an account.
Family Savings Credit Union has relatively few online reviews compared to many other financial institutions, but most of the reviews are favorable. Several of the credit union’s branches also have an A+ rating from the BBB with no customer complaints.
Contact Family Savings Credit Union’s customer service in four ways:
- Call 888-311-3728.
- Send a message via the mobile app.
- Contact the credit union on Facebook or Twitter.
- Visit a branch in person.
Family Savings Credit Union offers various accounts with many attractive features but only Goodyear employees and residents of specific counties are eligible. If you’re looking for the strongest yields possible, compare other bank accounts