VyStar Credit Union Review
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VyStar Credit Union offers banking products with little to no fees. But, what's the catch? Read for all the details.
Overall Score | 3.3 | ||
Savings | 3.0 | ||
CD | 3.0 | ||
Checking | 4.0 | ||
Money Market | 2.0 | ||
Mobile App | 4.5 | ||
Customer Service | 3.5 | ||
Pros and Cons
- Free checking account
- No monthly fees
- Access to 20,000+ surcharge-free ATMs
- Low rates
- Membership is not open to all
Bottom Line
Florida-based credit union offering financial products with low fees
VyStar Credit Union offers a range of banking products and services to its members. And, they come with minimal charges.
However, their rates may not be the most competitive. Are they worth considering? Continue reading to find out.
What is VyStar Credit Union?
VyStar, founded in 1952, is a well-known credit union based in Jacksonville, Florida. They offer personalized financial products with low fees and a few decent rates.[1]
However, only members can access their products and enjoy their services.
Who is Eligible?
To open an account, you must be a member. Membership is available to most residents of Florida, southeast Georgia, military personnel, and their families.[2]
You must also be either a U.S. citizen or a Resident Alien who is at least 18 years old and can provide the following:
- $5 initial deposit
- U.S. Driver's License, Passport, Military ID, or State ID
- Social Security number
- Valid email address
If you qualify for membership, you can join and open your preferred account online (simultaneously).
Pros & Cons
 |
Pros
- Free checking account
- Access to 20,000+ surcharge-free ATMs
- No monthly fees for checking and savings
- Little to no balance requirements
- 24/7 online and mobile banking
Cons
- Low APY on savings options
- Limited physical branches
- Membership is not open to all
Checking Account
VyStar Credit Union offers a Free Checking account with no fees for money transfers or bill payments. It has no monthly minimums and you can earn some interest on your daily balance.
This account also comes with a customizable VyStar Visa debit card with fee-free access to over 20,000 ATMs nationwide. You can conveniently manage your account anywhere through their 24/7 online and mobile banking platforms.[3]
VyStar Credit Union: Free Checking
- No monthly fee
- No monthly minimum requirements
- 24/7 online and mobile banking
Savings Account
VyStar Credit Union has a Regular Savings account with a low APY. You need to deposit at least $5 to open it and keep a minimum balance of $50 to earn that rate.[4]
VyStar Credit Union: High Interest Savings Account
- 0.10% APY
- $5 minimum opening deposit
- Minimum balance of $50 to earn dividends
Money Market Account
VyStar Credit Union also provides a Money Market account with low rates that can increase as your balance grows. It comes with check-writing privileges, making your funds easily accessible.
VyStar Credit Union: Money Market Account
- Up to 1.50% APY
- No minimum balance required
| Balance | APY |
|---|---|
| $9,999.99 & below | 1.00% |
| $10,000 - $99,999.99 | 1.10% |
| $100,000 - $249,999.99 | 1.30% |
| $250,000 or more | 1.50% |
Certificates of Deposit
VyStar Credit Union provides a variety of CD terms ranging from 3 months to 60 months. The fixed rate you earn depends on the term and balance of the CD you choose.
To open an account, a minimum balance of $500 is required.
VyStar Credit Union: 9-Month CD - 4.75% APY
VyStar Credit Union: 24-Month CD - 4.65% APY
VyStar Credit Union: 6-Month CD - 4.20% APY
VyStar Credit Union: 12-Month CD - 3.70% APY
VyStar Credit Union: 3-Month CD - 3.70% APY
Fees to Look Out For
VyStar Credit Union doesn't charge monthly fees for their personal checking and savings accounts, and many other features are free too such as:
- Online & mobile banking
- Funds transfers
- Incoming wire transfers
- ACH transfers
- Card transactions at VyStar and in-network ATMs
While all that sounds good, there are other charges you might face like a $32 fee for insufficient funds and a $15 fee for outgoing wire transfers.[5]
Depositing and Withdrawing Funds
For depositing funds into your account, you have several options: visit a VyStar Credit Union branch or a VyStar Deposit ATM, receive wire transfers from another bank account, or do a mobile check deposit.
For withdrawals, you can use your complimentary card at any VyStar, Accel, or Visa® Plus ATM nationwide. You can also make outgoing wire transfers from your VyStar account to an external bank account.
How VyStar Credit Union Compares
High-Yield Savings Premier - 5.31% APY
- No account activity or maintenance fees
- $500 minimum opening deposit
- FDIC insured
Discover® Online Savings - $200 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY624 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/12/2024, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.
CIT Bank Platinum Savings - 5.00% APY
- 5.00% APY with a balance of $5,000 or more
- 0.25% APY with a balance of less than $5,000
- $100 minimum opening deposit
- No monthly maintenance fee
- Member FDIC
High Yield Savings Account - 5.22% APY
- $1 minimum deposit
- No fees
- 24/7 online access to funds
- Deposits are FDIC insured through Third Coast Bank
High-Yield Savings Account - 5.23% APY
- $1 minimum deposit
- No fees
- 24/7 online access to funds
- FDIC insured
Is My Money Safe in VyStar Credit Union?
Yes, your money is safe with VyStar Credit Union. They are federally insured by the NCUA (Cert #68490) which means deposits are insured up to $250,000. Thus, you are guaranteed to get your money back should the credit union fail.
Who Is It Best For?
VyStar Credit Union is a good choice for those who want straightforward bank accounts without any fees. More so if you live in Florida because their main branch is located in Jacksonville, FL.
You get exclusive perks and discounts as a member. But, if you're looking for more convenience or better rates, you might find better options from online banks.
How to Open an Account
You can open a VyStar Credit Union account online. Simply do the following:
- Go to the VyStar Credit Union website and click Open an Account.
- Determine your membership eligibility and provide your information.
- Select an account and wait for confirmation.
Remember that you must be a member to successfully open an account. You can also visit a VyStar Branch or send an application via mail to open an account.
Bottom Line
VyStar is a great option for those residing in Florida and Georgia. They offer many fee-free financial products with some decent rates, along with easy-to-use online and mobile banking.
Overall, if you qualify to join VyStar Credit Union, take a look at what they offer.
References
- ^ VyStar Credit Union. Who We Are, Retrieved 02/13/2024
- ^ VyStar Credit Union. How to Join VyStar, Retrieved 02/13/2024
- ^ VyStar Credit Union. Free Checking Accounts, Retrieved 02/13/2024
- ^ VyStar Credit Union. Savings, CDs, IRAs & Money Markets, Retrieved 02/13/2024
- ^ VyStar Credit Union. VyStar Credit Union - Schedule of Services & Fees, Retrieved 03/23/2024
Bank of America Advantage Banking - $200 Bonus Offer
- The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
- The offer is for new checking customers only.
- Offer expires 9/30/2024.
- To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive qualifying direct deposits totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
- Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
- Additional terms and conditions apply. See offer page for more details.
- Bank of America, N.A. Member FDIC.
Chase Total Checking® - $300 Bonus
- New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
- With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
- Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
- JPMorgan Chase Bank, N.A. Member FDIC
- Open your account online now
- Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
- Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
Discover® Online Savings - $200 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY624 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/12/2024, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.
CIT Bank Platinum Savings - 5.00% APY
- 5.00% APY with a balance of $5,000 or more
- 0.25% APY with a balance of less than $5,000
- $100 minimum opening deposit
- No monthly maintenance fee
- Member FDIC
Free Business Checking - Up to 2.0% APY
- 2.0% APY on your balance up to $250,000 for customers that meet monthly eligibility requirements
- $0 minimum opening deposit
- $0 monthly service fee
Darlene Santos is a research analyst at CreditDonkey, a bank comparison and reviews website. Write to Darlene Santos at darlene.santos@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.
Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.
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