VyStar Credit Union Review 2024

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At a glance

4.1

Rating: 4.1 stars out of 5

Bankrate Score

CDs

Rating: 4.4 stars out of 5

Checking

Rating: 4.8 stars out of 5

Savings

Rating: 3 stars out of 5

MMA

Rating: 3.2 stars out of 5

Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

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Overview

VyStar could be a great option for Floridians and Georgians in select counties looking for solid CD options and a free, interest-bearing checking account with a credit union.

Highlights

Free Checking
Low Fees
Low Min Deposit

Overall

VyStar Credit Union is one of the largest credit unions in Florida, offering various deposit accounts and services to hundreds of thousands of members. Its accounts don’t charge monthly service fees or have minimum balance requirements, although better yields can often be found at other financial institutions.

Pros

The free checking account pays interest.
Minimum deposit and balance requirements overall are low.
The credit union charges no monthly service fees.

Cons

Membership is mostly limited to Florida residents and residents in parts of Georgia.
Yields are low relative to what you can earn at other institutions.
The overdraft/NSF fees are very high.

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VyStar Credit Union banking products

3.0

Rating: 3 stars out of 5

Bankrate Score

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VyStar Credit Union savings overview

VyStar’s Regular Savings account requires a $5 minimum deposit, but interest is earned only on amounts of $50 or more. VyStar doesn’t charge a monthly service fee on the savings account.

The account’s APY is minimal, and you can find much higher yields — especially at online banks — if you shop around.

Pros

The minimum deposit to open the account and earn interest is low.
There’s no monthly service fee.

Cons

The yield is low compared to what many other institutions offer.

VyStar Credit Union

APY

APY last updated between 6/9 and 6/15.

APY

APY last updated between 6/9 and 6/15.

National average APY

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	VyStar Credit Union APY APY last updated between 6/9 and 6/15. APY APY last updated between 6/9 and 6/15	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
06/04/2024	0.10%	0.58%
05/07/2024	0.10%	0.59%
04/02/2024	0.10%	0.58%
03/05/2024	0.10%	0.57%
01/02/2024	0.10%	0.58%
12/05/2023	0.10%	0.57%
11/07/2023	0.10%	0.60%
10/03/2023	0.10%	0.58%
09/12/2023	0.10%	0.57%
07/11/2023	0.10%	0.54%
06/20/2023	0.10%	0.49%

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VyStar Credit Union CD overview

VyStar Credit Union offers traditional CDs across terms ranging from three months to five years. All traditional CDs require a minimum $500 deposit to open.

VyStar pays rates on its CDs that are above the national average, yet higher yields can be found elsewhere. Each CD term is split into two balance tiers; a slightly higher rate is earned on balances of $50,000 or more.

A one-year Youth CD is also offered, with a lower minimum deposit requirement of $100.

Pros

VyStar offers a wide range of CD term lengths.
All CDs pay interest rates that are above the national average.
There’s only a $500 minimum deposit requirement to open a CD.

Cons

Those looking for the higher yields can find them elsewhere.

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VyStar Credit Union money market overview

VyStar’s money market account pays interest rates that are above average, but much more competitive rates can be found elsewhere. The account has balance tiers, and larger balances are rewarded with a higher interest rate.

The account requires no minimum deposit, and it doesn’t charge a monthly fee. It does offer check writing and an ATM card.

Pros

There is no minimum balance requirement.
The account doesn’t charge a monthly fee.
Check writing is available.

Cons

The yield is above the national average, but it’s low compared to what top competitors are offering.
You need at least $250,000 to earn the top-tier yield, which is still not very competitive.

4.8

Rating: 4.8 stars out of 5

Bankrate Score

Compare top checking rates

VyStar Credit Union checking overview

VyStar offers a free checking account that earns interest at the same rate as the savings account. No minimum deposit is required to open the account, and there’s no minimum balance requirement. However, the NSF and overdraft fees are expensive at $32 and $29, respectively. Account holders also get a debit or ATM card and can get paid up to two days early with direct deposit.

The free checking account offers bill pay, and customers can send and receive money with Zelle. Customers also have fee-free access to more than 20,000 ATMs through the credit union’s owned-and-operated machines as well as ATMs in Accel and Plus networks.

The credit union also offers a youth checking account as well as a senior account geared toward those ages 50 and older.

Pros

VyStar’s free checking account pays a little interest on all balances.
There’s no minimum deposit requirement to open and maintain the account.
There’s no monthly service fee.

Cons

The overdraft and NSF fees are higher than average.

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Bank fees

Fee	Charged?
Overdraft fee	$29 (for transactions above $5)
Non-sufficient funds fee	$32
Account maintenance fees	None
Incoming wire transfer fee	None
Outgoing wire transfer fee	$15

Customer experience

Branch and ATM access. VyStar Credit Union offers branches in Florida and Georgia and access to more than 20,000 surcharge-free ATMs across the United states. Some ATMs are available at retailers such as CVS Pharmacy, Target and Walgreens.

Customer service. Branch hours vary by location. Representatives are available through the contact center every day from 7 a.m. to 7 p.m. ET. Members can also contact the credit union through the live chat feature on its website, during the same hours.

Highly rated mobile app. Members can use the credit union’s mobile app and take advantage of capabilities like Zelle and account alerts. The app has 4.2 stars on Google Play and 4.8 stars on the Apple app store. There’s also a VyStar card control app within the main mobile app that members can use to manage access to their debit cards.

About VyStar Credit Union

VyStar is headquartered in Jacksonville, Florida, and today has more than 925,000 members. Membership is open to local residents who live or work in 49 Florida counties or in 29 counties in Georgia. Past and present military members worldwide and their families are also eligible for membership.

VyStar Credit Union was chartered in 1952 and was originally known as the Jax Navy Federal Credit Union, which offered services to military and civil service members.

How does VyStar Credit Union compare to other banks?

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.

VyStar Credit Union Review 2024 | Bankrate (2024)

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VyStar Credit Union banking products

VyStar Credit Union savings overview

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VyStar Credit Union savings rates

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VyStar Credit Union CD overview

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VyStar Credit Union money market overview

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VyStar Credit Union checking overview

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How does VyStar Credit Union compare to other banks?

Review methodology