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Arizona Federal Credit Union Cd Rates
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Webster Federal Credit Union
By Laura Grace Tarpley, CEPF and Sophia Acevedo, CEPF; edited by Sarah Silbert; Review by Evelyn He
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Bottom line: AEA Federal is a great choice if you live in Arizona and want to work with a local financial institution that closely serves its community. If you prefer to bank with a national credit union, check out our guide to the best credit unions to find institutions that allow you to open accounts anywhere in the United States.
AEA Federal Credit Union is an Arizona community development financial institution. There are four branches: two in Yuma, one in Somerton and one in San Luis. You’ll get free cash in-store and at Albertsons ATMs, as well as 30,000 ATMs in the CO-OP Shared Network across the United States.
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To join a credit union, you or a family member must live, work, study or worship in Yuma County or La Paz County. Then you’ll need to open an AEA Federal Credit Union Elementary School Sharing Account with a $25 and one-time opening fee of $5.
Exact lobby hours and customer service hours vary by location; All branches are open Monday to Friday, but not on weekends.
The AEA Federal Credit Union mobile app has a 4.8 out of 5 star rating in the Apple Store and 4.6 out of 5 stars in the Google Play Store.
Your bond is federally insured by the NCUA (National Credit Union Administration) up to $250,000 or up to $500,000 for joint accounts.
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The Better Business Bureau rates AEA and A+. A strong BBB rating indicates that a company responds effectively to customer complaints, advertises honestly, and is transparent in its business practices.
However, a good BBB score does not guarantee a good relationship with an institution. You may still want to ask friends and family members about their AEA experiences or read user reviews online.
CFIs serve poor and disadvantaged communities. Banks and credit unions must go through certification from the US Department of the Treasury’s Development Community Financial Funds and meet specific requirements to eliminate banking barriers.
Many of these banks and credit unions are involved in their communities. For example, every two months AEA selects a local charity for employees to volunteer for. Employees can also wear jeans to work if they donate $5 or $10 from their paycheck, and participating employees can choose a charity that will receive the proceeds at the end of each quarter.
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Is AEA Federal Credit Union Legal? Chevron Symbol Indicates an extendable section or table, or antique/renovation designs.
Yes, the AEA Federal Credit Union is legal and audited by the NCUA. Her bank accounts are federally insured up to $250,000 per deposit per account category.
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Tucson Federal Credit Union
AEA Federal is a great choice if you live in Arizona and want to work with a local financial institution that closely serves its community. If you prefer to bank with a national credit union, check out our top credit unions that allow you to open accounts anywhere in the United States.
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AEA’s basic savings account is a free option with a minimum deposit. However, it pays a small interest. If you value earning high interest, check out the best high-yield savings accounts.
You might like AEA Federal Credit Union’s basic checking account if you can waive the $5 monthly service fee. To avoid this fee, you must earn at least $400 per month in direct deposits and do one of the following:
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AEA Federal Credit Union offers higher interest rates on certificates than most private institutions, especially for shorter terms. However, you can still find the best CD rates at online banks.
You might like AEA Federal Credit Union’s Advanced Money Market account if you have $2,500 to start. You must also maintain a balance of $2,500 to earn interest.
This account has a variable rate of interest, meaning lower account balances usually pay higher interest. To earn 3.00% APY, you must maintain a daily balance between $2,500 and $9,999.
If using a local financial institution is important to you, you should choose AEA. However, Wells Fargo does not require a Social Security number to open an account, making it a valuable option if you are an immigrant or non-US citizen.
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However, it is worth noting that Wells Fargo has had many public controversies. For example, in December 2022, the Consumer Financial Protection Bureau ordered Wells Fargo to pay more than $3.7 billion in settlements. The CFPB accused the bank of charging improper fees that caused thousands of customers to lose their cars and homes, as well as charging improper fees before opening checking and savings accounts.
If you’re evaluating a large branch network, Chase looks more attractive than AEA Federal Credit Union. Chase has more than 4,700 branches across the United States, and AEA Federal Credit Union has just four locations in Arizona.
Chase also has several checking accounts with benefits ranging from sign-up bonuses to waived foreign transaction fees.
However, if you are looking for a savings account or money market account, AEA Federal Credit Union may be worth considering.
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There is no monthly service fee for AEA Federal Credit Union savings accounts. Chase Savings has a $5 monthly service fee. You must meet certain conditions to waive the monthly service fee.
AEA also has a new money market account that stands out because it allows you to earn higher interest on smaller balances. To get the highest APY, you must maintain a regular daily balance between $2,500 and $9,999.
Each account receives a rating between 0 and 5. We rate the bank’s ethics, customer service and mobile app for each account. We also discuss different features for specific types of bank accounts. For example, we look at surcharges on checking accounts and early withdrawal penalties on CDs.
Laura Grace Tarpley (i/i) is a senior editor at Personal Finance Insider. It oversees coverage of home values, refinancing rates, lenders, bank accounts, and lending and savings tips for Personal Finance Insiders. She was the author and editor of the Business Insider series “The Road Home,” which received a silver award from the National Association of Real Estate Editors. She is also a Certified Personal Finance Educator (CEPF) and has been writing about personal finance for over seven years. Before joining the Business Insider team, she was a freelance financial writer for companies such as SoFi and The Penny Hoarder and an editor at FluentU. You can reach Laura Grace at ltarpley@. Learn more about how he selects, rates and covers financial products and services
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Sophia Acevedo is the banking editor for Business Insider. Edits and writes bank reviews, bank guides,
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