Hispano-American institution, high rates

0

Overall rating of the bank

Advantages and disadvantages

Savings

Annual percentage return (APY)

0% to 0.25% APY

  • Advantages and disadvantages

  • Details


  • Advantages
    • Competitive interest rate
    • Minimum opening deposit of $ 5
    • No monthly service fees
    The inconvenients
    • Dividends compounded only quarterly
    • Hispanic-American led credit union with 7 branches in Corpus Christi and Portland, Texas
    • To become a member, live or work in Aransas, Duval, Jim Wells, Kleberg, Nueces, or San Patricio County (you can also enroll if you attend school or worship in Kleberg County); work for an eligible business; or be an immediate family member of an existing CoastLife member
    • No interest earned on months when your average daily balance is less than $ 50
    • Interest compounded quarterly, paid quarterly
    • Federal Insurance by NCUA

    CoastLife Community Credit Union Regular Savings Account is a good choice if you can maintain a balance of at least $ 50, as then you will be eligible for interest. CoastLife pays a competitive interest rate and does not charge a monthly fee.

    Verification

    Annual percentage return (APY)

    0.10% to 3.56% APY

  • Advantages and disadvantages

  • Details


  • Advantages
    • Minimum opening deposit of $ 50
    • No monthly service fees
    • Earn interest
    The inconvenients
    • Monthly and non-daily compound interest
    • Off-network ATM fee of $ 1.50
    • $ 25 overdraft fee
    • $ 3 overdraft protection fee when you save money
    • Hispanic-American led credit union with 7 branches in Corpus Christi and Portland, Texas
    • Free ATMs at branches and 7-Eleven locations
    • To become a member, live or work in Aransas, Duval, Jim Wells, Kleberg, Nueces, or San Patricio County (you can also enroll if you attend school or worship in Kleberg County); work for an eligible business; or be an immediate family member of an existing CoastLife member
    • Earn 3.56% APY on balances up to $ 10,000 every month you sign up for eStatements, sign up for and log into online banking, receive at least one automatic payment or direct deposit, and make at least 10 debit card transactions of $ 5 or more
    • Earn 0.50% APY on balances over $ 10,000 each month you qualify; earn 0.10% APY every month if you don’t qualify
    • Interest compounded monthly, paid monthly
    • Federal Insurance by NCUA

    CoastLife Community Credit Union Bonus Checking offers a high interest rate and does not charge any monthly fees. The credit union has other

    verify accounts
    , too, including a cash-back account and one for teens. There are no monthly fees on any of the accounts.

    Share certificate

    Annual percentage return (APY)

    1.02% to 1.26% APY

  • Advantages and disadvantages

  • Details


  • Advantages
    The inconvenients
    • Minimum deposit of $ 1,000
    • Limited time options
    • Must contact CoastLife to request early withdrawal penalties
    • Hispanic-American led credit union with 7 branches in Corpus Christi and Portland, Texas
    • To become a member, live or work in Aransas, Duval, Jim Wells, Kleberg, Nueces, or San Patricio County (you can also enroll if you attend school or worship in Kleberg County); work for an eligible business; or be an immediate family member of an existing CoastLife member
    • Term of office: 1, 2 and 3 years
    • Interest compounded daily, paid monthly
    • Federal Insurance by NCUA

    You might like the CoastLife Credit Union Stock Certificate if you have at least $ 1,000 to open an account because the credit union pays high interest rates. However, you can only choose 1-year, 2-year, and 3-year terms, so you’ll have to look elsewhere for other term lengths.

    How CoastLife Credit Union Works

    CoastLife Credit Union is a Hispanic-American led credit union with six branches in Corpus Christie, Texas, and one branch in Portland, Texas. There are free ATMs at branches and 7-Eleven locations.

    To contact customer service, you can call, email, fax, or visit a branch. Lobby hours vary by location.

    The CoastLife mobile app has 4.8 out of 5 stars in Apple and Google Play stores.

    Your deposits are federally insured by the NCUA up to $ 250,000, or up to $ 500,000 for joint accounts.

    How to join CoastLife Credit Union

    CoastLife Credit Union is a credit union, not a bank, so only certain people can become members. You can join CoastLife if you meet any of the following criteria:

    • Live or work in Aransas, Duval, Jim Wells, Kleberg, Nueces, or San Patricio County (you can also enroll if you attend school or worship in Kleberg County)
    • Are an immediate family member of an existing CoastLife member, or a member who died while a member
    • Work for an eligible school or business (see full list here)

    To join, you will need to open a CoastLife Community Credit Union regular savings account with $ 5.

    Is CoastLife Credit Union Trustworthy?

    CoastLife Credit Union has no public controversy.

    At Insider, we typically review Better Business Bureau ratings to gauge a company’s reliability. However, the BBB has yet to rate CoastLife. You might want to ask friends and family about their experiences with CoastLife or read customer reviews online.

    The role of Hispano-American institutions

    Many Spanish-American banks and credit unions offer services in English and Spanish. There is a history of racial prejudice in banking and lending, especially among Hispanics, so working with a Hispanic institution can help eliminate unfair bias.

    Some of these institutions allow you to open accounts if you are an immigrant or non-US citizen. CoastLife requires a Social Security number to open an account, but you can see a full list of banks that accept applications from immigrants and non-citizens without an SSN here.

    How CoastLife Credit Union Stacks Up

    We compared CoastLife Credit Union to two other Spanish-American institutions in Corpus Christi: Navy Army Community Credit Union and Members First Credit Union.

    CoastLife Credit Union and Navy Army Community Credit Union both pay high interest rates on checking accounts and stock certificates, but CoastLife pays a better rate on its savings account.

    The interest rates for Member First Credit Union certificates are not as high as the rates for the other two institutions, but they are still above average. Members First also offers longer durations for certificates. You might also like Members First if you’re worried about overdraft, as it offers free overdraft protection.

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