University Settlement Federal Credit Union invites its members to take advantage of their high interest savings account under their regular share savings account. The credit union lets you earn an interest rate of 1.50% APY on their best savings account. You need to deposit a minimum of $12 with a one time fee of $3 to open an account. You also need to maintain an average daily balance of $25 in order to earn this best interest rate.

The dividend of this money in the bank deal is compounded and paid semi-annually. You can also make transfers or withdrawals to another account or to a third party for up to 6 times per statement cycle. You can process your transfers or withdrawals through pre-authorized, check, phone, or mail.

Another savings account with University Settlement Federal Credit Union that has an attractive interest rate is their Holiday Club Savings account. This high yield savings account has an interest rate of 1.50% APY the same with their regular share savings. The minimum opening balance for this account is $25. You need to maintain this balance or have a higher deposit in order to earn this best savings account rate.

University Settlement Federal Credit Union membership is open to:

• employees and immediate family members of The Door or University Settlement
• program clients of The Door or University Settlement
• independent contractors of The Door and University Settlement
• individuals residing in the Lower East Side

You need to visit the one of the credit union’s office in order to apply for membership and open an account. You are required to bring valid picture identification which will be used to verify you and your current address. The ID’s that you can bring are your driver’s license, social security cars, or passport. If in case your current address is not listed on those identifications you can also bring your credit card statements or utility bill statements with your current address on it.

If you still have questions or concerns with regard to their savings account, current interest rates, or membership eligibility you may call their member service line at 212-453-4573 or 212-254-5334. University Settlement Federal Credit Union has branches located in the cities of New York and Brooklyn in the state of New York.

University Settlement Federal Credit Union has been assisting their members since 1940. It is a very small credit union which has 197 members with over $706 thousand in assets. All accounts with University Settlement Federal Credit Union is insured by the National Credit Union Association of up to $100,000 and they have an NCUA charter number 3714.