- Overall Rating
- Pros and Cons
- About Union Yes FCU
- Union Yes FCU Bank Account Reviews
- Union Yes FCU Compares
- Why You Should Trust Us
Redeem now Our experts answer readers' banking questions and write unbiased product reviews (here's how we assess banking products). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.
Compare Union Yes Federal Credit Union productsUYFCU Apprentice Checking Account
The bottom line: Union Yes Federal Credit Union might be worth considering if you're a Southern California resident who prefers local credit unions over banks. Its savings account, money market account, and CDs have low minimum opening deposits. The credit union doesn't have a mobile app, though. Our best mobile banking apps guide has strong contenders if a good app is your priority.
Union Yes Federal Credit Union Review: Overall Rating
| Feature | Personal Finance Insider rating (out of 5) |
| Checking | 2.75 |
| Savings | 2.75 |
| CD | 3 |
| Money market account | 2.5 |
| Trustworthiness | 5 |
| Total | 3.25 |
Union Yes Federal Credit Union Pros and Cons
| Pros | Cons |
|
|
About Union Yes Federal Credit Union
Union Yes Federal Credit Union is a local financial institution in Southern California that's part of the National Credit Union Administration's list of minority depository institutions (MDIs). It's considered to be an MDI because a majority of its current members, board of directors, and community are Hispanic American.
To become a member of Union Yes Federal Credit Union, you or a family member must be part of a union or work in a union shop in Southern California. To join Union Yes Federal Credit Union, you'll have to visit the branch, pay a one-time $15 membership fee, and open an account with at least $25.
The credit union has one branch and three UYFCU ATMs. Union Yes Federal Credit Union is also part of the Co-op Shared Branch and ATM networks, so you'll have access to over 5,000 shared locations and 50,000 surcharge-free ATMs.
Customer service is available by phone Monday through Thursday from 9:30 a.m. to 5 p.m. PT, Friday from 9:30 a.m. to 6 p.m. PT, and Saturday from 9 a.m. to 1 p.m. PT.
Union Yes Federal Credit Union is federally insured by the NCUA. Your deposits are insured for up to $250,000 in individual bank accounts and $500,000 in joint bank accounts.
Compare today's checking accounts
The Role of Hispanic American-led Institutions
Hispanic American-led financial institutions often address the banking gaps in underserved communities. These institutions are vital for Hispanic American communities that have historically been affected by discriminatory banking practices like redlining.
According to the US Census, over 38% of the people living in the city of Orange are of Hispanic or Latino origin, which is one of the largest race and ethnic groups in the area.
Is Union Yes Federal Credit Union Trustworthy?
Union Yes Federal Credit Union has no recent public controversies, and the bank has an A+ rating from the Better Business Bureau.
A high BBB rating indicates that a company efficiently responds to customer issues and has transparent business practices. However, a BBB rating won't guarantee a smooth relationship with a bank. To see if a financial institution is right for you, talk to current members or read online customer reviews.
Union Yes Federal Credit Union Bank Account Reviews
UYFCU Apprentice Checking Account
UYFCU Apprentice Checking Account Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Fees$10 monthly service fee
Annual Percentage Yield (APY)None
Minimum Deposit Amount$250
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Possible to waive monthly service fee
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Overdraft protection available
- con icon Two crossed lines that form an 'X'. High minimum opening deposit
- con icon Two crossed lines that form an 'X'. $10 monthly service fee
- con icon Two crossed lines that form an 'X'. $35 overdraft fee
- con icon Two crossed lines that form an 'X'. $7.50 overdraft protection transfer fee
- con icon Two crossed lines that form an 'X'. $3.50 out-of-network ATM fee
Union Yes Federal Credit Union might be worth considering if you're a Southern California resident who prefers local credit unions over banks. Its savings account, money market account, and CDs have low minimum opening deposits. The credit union doesn't have a mobile app, though.
Product Details- To become a member Union Yes Federal Credit Union, you or a family member must be part of a union or work in a union shop in Southern California; You may join by opening a savings account with $25 and paying a $15 one-time membership fee
- Hispanic American-led credit union that serves its local community
- 1 credit union in Orange, California and 3 ATMs
- Access to 5,000 branches and 50,000 surcharge-free ATMs through the Co-Op Share ATM network
- To waive the $10 monthly service fee, you must keep at minimum of $250 in your account daily
- Overdraft protection that lets you link your checking account to a savings account
- If you utilize overdraft protection, there's a $7.50 overdraft transfer fee
- NCUA insured
The UYFCU Apprentice Checking Account has a high minimum opening deposit. It also requires you to maintain at least $250 in your account daily, or you'll be charged a $10 monthly service fee.
If you're searching for a free checking account that doesn't have minimum balance requirements, you might want to look through our best checking accounts guide.
UYFCU Regular Savings Account
UYFCU Regular Share Account Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Fees$15 monthly service fee
Annual Percentage Yield (APY)0.00% to 0.01%
Minimum Deposit Amount$25
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. $25 minimum opening deposit
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Possible to waive monthly service fee
- con icon Two crossed lines that form an 'X'. Low interest rate
- con icon Two crossed lines that form an 'X'. $25 minimum balance requirement, or there's a $15 monthly service fee
Union Yes Federal Credit Union might be worth considering if you're a Southern California resident who prefers local credit unions over banks. Its savings account, money market account, and CDs have low minimum opening deposits. The credit union doesn't have a mobile app, though.
Product Details- To become a member Union Yes Federal Credit Union, you or a family member must be part of a union or work in a union shop in Southern California; You may join by opening a savings account with $25 and paying a $15 one-time membership fee
- Hispanic American-led credit union that serves its local community
- 1 credit union in Orange, California
- Earn 0.01% APY if you have over $10,000 in your account
- No interest earned on account balances under $10,000
- Must keep at least $25 in your account daily, or you'll be charged a $15 monthly service fee
- Interest compounded and deposited quarterly
- NCUA insured
To become a Union Yes Federal Credit Union member, you must open the UYFCU Regular Share Account with $25 upfront.
This account might be a decent option if you regularly maintain at least $25 in your account. Otherwise, you'll have to pay a $15 monthly service fee for not meeting the minimum balance requirement.
UYFCU CD
UYFCU CD Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Annual Percentage Yield (APY)0.05% to 0.35%
Minimum Deposit Amount$500
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. $500 minimum opening deposit
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Variety of CD terms
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Standard early withdrawal penalties
- con icon Two crossed lines that form an 'X'. Low interest rates
- con icon Two crossed lines that form an 'X'. Interest compounded quarterly, not daily
Union Yes Federal Credit Union might be worth considering if you're a Southern California resident who prefers local credit unions over banks. Its savings account, money market account, and CDs have low minimum opening deposits. The credit union doesn't have a mobile app, though.
Product Details- To become a member Union Yes Federal Credit Union, you or a family member must be part of a union or work in a union shop in Southern California; You may join by opening a savings account with $25 and paying a $15 one-time membership fee
- Hispanic American-led credit union that serves its local community
- 1 credit union in Orange, California
- Terms range from 30 days to 5 years
- CD early withdrawal penalties vary depending on the term chosen and the amount deposited; Contact credit union for specific details
- Interest compounded and deposited quarterly
- NCUA insured
The credit union offers a range of CD terms. You'll also only need $500 for an initial deposit, which is less than what many other financial institutions require.
If you're looking for a high CD rate, you'll want to consider other options because Union Yes Federal Credit Union rates are pretty low overall. The best CD rates are primarily available at online financial institutions.
UYFCU Money Market Account
UYFCU Money Market Account Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Fees$10 monthly service fee
Annual Percentage Yield (APY)0.01% to 0.02%
Minimum Deposit Amount$500
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. $500 minimum opening deposit
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Possible to waive monthly service fee
- con icon Two crossed lines that form an 'X'. Low interest rate
- con icon Two crossed lines that form an 'X'. $10 monthly service fee
- con icon Two crossed lines that form an 'X'. No checks included
- con icon Two crossed lines that form an 'X'. No debit card
Union Yes Federal Credit Union might be worth considering if you're a Southern California resident who prefers local credit unions over banks. Its savings account, money market account, and CDs have low minimum opening deposits. The credit union doesn't have a mobile app, though.
Product Details- To become a member Union Yes Federal Credit Union, you or a family member must be part of a union or work in a union shop in Southern California; You may join by opening a savings account with $25 and paying a $15 one-time membership fee
- Hispanic American-led credit union that serves its local community
- 1 credit union in Orange, California
- To waive the $10 monthly service fee, you must keep a minimum of $500 in your account
- Earn 0.01% APY if you have an account balance between $500 and $10,000
- Earn 0.02% APY on account balances over $10,000
- No interest earned on account balances under $500
- Interest compounded daily and deposited monthly
- NCUA insured
The UYFCU Money Market Account pays a low interest rate. To avoid paying a $10 monthly service fee, you must keep a minimum of $500 in your account.
If you're searching for a money market account that pays a higher interest rate or doesn't charge monthly service fees, you might find more suitable options in our best money market accounts guide.
How Union Yes Federal Credit Union Compares
Union Yes Federal Credit Union vs. Orange County's Credit Union
To open an account at a credit union, you'll have to be eligible for membership first.
Union Yes Federal Credit Union lets you join if you or a family member are part of a union or work in a union shop in Southern California.
Orange County's Credit Union has more lenient membership requirements. Anyone who lives or works in Orange, Los Angeles, Riverside, or San Bernardino Counties may be eligible for membership.
If you meet the requirements to join both credit unions, you'll also want to consider which accounts stand out the most to you.
For example, Orange County Credit Union pays higher interest rates on savings account, CDs, and money market accounts. Union Yes Federal Credit Union has lower minimum opening deposits for CDs and money market accounts, though.
Union Yes Federal Credit Union vs. Chase
Union Yes Federal Credit Union and Chase pay similar interest rates on traditional savings accounts. But if you're looking for a money market account, Union Yes Federal Credit Union will also be your go-to option, because Chase doesn't offer one.
Chase may be better if you're interested in opening a variety of bank accounts. Chase has bank accounts for kids, teens, and college students. Union Yes Federal Credit Union lets you open an account for a minor, but it doesn't have as many options.
Why You Should Trust Us: How We Reviewed Union Yes Federal Credit Union
At Personal Finance Insider, we rate savings, checking, CD, and money market accounts using our banking methodology and CD methodology.
Each account receives a rating between 0 and 5. We evaluate a bank's ethics, customer service, and mobile app for all accounts. We also consider different features for specific types of bank accounts. For example, we look at overdraft fees for checking accounts and early withdrawal penalties for CDs.
Sophia Acevedo, CEPF Banking Reporter Sophia Acevedo is a banking reporter at Business Insider. Sophia joined Business Insider in July 2021. She writes bank reviews, banking guides, and banking and savings articles for Personal Finance Insider. She is also a Certified Educator in Personal Finance (CEPF).Sophia is an alumna of California State University Fullerton where she studied journalism and minored in political science. She is based in Southern California.You can reach out to her on Twitter at @sophieacvdo or email sacevedo@businessinsider.com.Read more about how Personal Finance Insider chooses, rates, and covers financial products and services >>Below are links to some of her most popular stories:- Are banks open today? Here's a list of US bank holidays for 2023
- Best CD rates
- Best High-yield savings accounts
- Four reasons why your debit card might be denied even when you have money
Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
**Enrollment required.
ncG1vNJzZmivp6x7o8HSoqWeq6Oeu7S1w56pZ5ufonyxsdGspqeZnGKzqrrAp5qeZ6WjtrC6jLKcrGWWmrGmvsClZJyqlZm2tXnUp6Copl2nsre1xLA%3D