VyStar Credit Union Complete Review & Rates (2024)

VyStar Credit Union offers banking products with little to no fees. But, what's the catch? Read for all the details.

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]

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]

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.

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.

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

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:

1. Go to the VyStar Credit Union website and click Open an Account.
   
2. Determine your membership eligibility and provide your information.
   
3. 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