Vibe Credit Union Review: Checking, Savings, CD, Money Market and IRA Accounts

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Updated on Sunday, November 1, 2020

Vibe Credit Union checking account options

Sound Checking account

A checking account that lets you earn a small amount of interest at different tier levels.
APYMinimum Balance to Earn APY
0.01%$0
0.02%$5,000
  • Minimum opening deposit: None
  • Monthly account maintenance fee: $3; can be waived with combined Vibe Credit Union account balances of $500.
  • ATM fee: None on CO-OP network ATMs; 10 free out-of-network ATMs transactions per month; then $1. Outside banks may charge additional fees.
  • ATM fee refund: None
  • Overdraft fee: $30

This checking account allows account holders to earn interest on any amount, albeit at a very low rate. It offers various basic services you’d expect to find with most any checking account these days, including mobile and online banking services.

One nice perk is the fact that you get 10 free outside ATM transactions per month. It also offers personalized cash back rewards when you shop at certain retailers; these rewards are deposited into your checking account at the end of every month.

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on Vibe Credit Union’s secure website

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FU$E Checking

A youth checking account for members ages 16 to 23.
APYMinimum Balance to Earn APY
0.02%$0
0.02%$5,000
  • Minimum opening deposit: None
  • Monthly account maintenance fee: None
  • ATM fee: None on CO-OP network ATMs; 10 free out-of-network ATM transactions per month; then $1 plus any other fees imposed by other banks.
  • ATM fee refund: None
  • Overdraft fee: $30

This interest-bearing youth account helps teens and young adults establish good financial habits while building toward their future. With basic services like online and mobile banking, and no monthly fees or requirements, this is a good account for young members to have if they or one of their family members qualifies for membership.

When the account holder turns 24, this account will become a Sound Checking account, according to a credit union representative. A parent must be a joint owner on the account while their child is still a minor. Parents can remove themselves after their child turns 24 if they wish, though they can remain an owner of their new adult account as well.

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How Vibe Credit Union’s checking accounts compare

If you’re after a top-notch online banking account, you should make sure it has no monthly fees, a strong online banking platform, offers the ability to earn interest, has no ATM fees and possibly refunds outside fees.

While Vibe Credit Union’s checking account can check off most of those boxes, its rates simply don’t come close to those on our list of the best checking accounts out there. In fact, its rates are practically next to nothing. Consider one of the accounts on our list instead.

Vibe Credit Union savings account options

Membership Savings

This account is required to establish membership at Vibe Credit Union.
APYMinimum Balance to Earn APY
0.10%$0
  • Minimum opening deposit: $5
  • Minimum balance to earn APY: None
  • Monthly account maintenance fee: $3; can be waived (see below)
  • ATM fee: None on CO-OP network ATMs; $1 plus any other outside bank fees on out-of-network ATMs.
  • ATM fee refund: None
  • Overdraft fee: $30

This account is required to establish membership and open any other products at Vibe Credit Union. According to a credit union representative, if you open it in person, you only need to pay $5 fee. If you open it online, you will have to fund it with $25 and after seven business days, $20 will be available to you, with the remaining $5 serving as your opening fee.

Like the checking account, it offers a very low interest rate which can be earned on any balance. It also has a very low monthly fee, which can easily be waived if you: maintain a combined average daily balance of $500 in all deposit accounts and loan accounts; are an eServices user with a total direct deposit of at least $500 monthly; are a FU$E Checking or FU$E Money Management Account holder; are 18 or younger; or are 62 or older and have an electronic deposit (ACH) to your Vibe account.
This account also offers mobile and online banking services. You can open personalized sub-accounts within this account to save for special purchases like a vacation or new car, and earn the same rate on those funds.

Like all savings accounts, this one is subject to Federal Reserve Regulation D, which limits certain transfers and withdrawals to six per month.

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on Vibe Credit Union’s secure website

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Holiday Savings

This account allows you to set aside funds for the holiday season.
APYMinimum Balance to Earn APY
0.05%$0
  • Minimum opening deposit: None
  • Minimum balance to earn APY: None
  • Monthly account maintenance fee: None
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

This account allows holders to sock away funds for holiday expenses. Your savings from this account will be deposited into your checking or savings account in November. You can contribute money to this account via direct deposit, monthly automatic transfers or manual transfers on your own.
According to a credit union representative, members can open this account at any time of the year. If you withdraw funds from this account before Nov. 1, the account will close for the remainder of the year. However, it can be reopened after Nov. 11 to begin saving for the following year’s holiday season.

As with all savings accounts, this one is subject to Federal Reserve Regulation D, which limits certain withdrawals and transfers to six per month.

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on Vibe Credit Union’s secure website

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How Vibe Credit Union’s savings accounts compare

Not surprisingly, Vibe Credit Union’s savings account rates don’t compare to the best online savings accounts available. Since the opening and monthly maintenance requirements are pretty minimal on the Membership Savings account, it won’t hurt you to have it — that’s good news, since it’s required for membership to Vibe Credit Union. However, we wouldn’t recommend seeking out Vibe Credit Union for these accounts alone.

Vibe Credit Union CD rates

Certificates of Deposit

Certificates with a minimum opening deposit of $500.
TermAPY
12 months0.35%
18 months0.35%
24 months0.65%
30 months0.75%
36 months1.00%
48 months1.05%
60 months1.16%
  • Minimum opening deposit: $500
  • Minimum balance amount to earn APY: $500
  • Early withdrawal penalty: 90 days’ worth of interest on a 1 year term; 180 days’ worth of interest on all other terms

These are basic, run-of-the-mill CDs, which come in terms ranging from one to five years and offer fairly standard opening deposit requirements and early withdrawal penalties. The rates are pretty mediocre compared with the competition, however.

Interest on these accounts is calculated daily, and certificate holders have the option of having full interest paid at maturity, compounded quarterly (added to certificate) or monthly interest transfers made to their Vibe Credit Union checking or savings accounts.

Certificate renewal notices are sent seven days prior to maturity, with the CD being renewed automatically if no response is provided. There is a seven-day grace period for renewals, with a renewal acknowledgment sent upon request.

SEE DETAILS Secured

on Vibe Credit Union’s secure website

NCUA Insured

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How Vibe Credit Union’s CD rates compare

As mentioned above, Vibe Credit Union’s CD rates just don’t stack up against the competition, even if their requirements are fairly standard in comparison. We recommend considering one of the CDs on our list of the best CD rates to get the most bang for your buck on your funds.

Vibe Credit Union money market account options

Money Management account

Vibe Credit Union’s money market account allows you to earn slightly higher rates than on its savings accounts.
APYMinimum Balance to Earn APY
0.05%$0
0.25%$2,500
0.30%$20,000
  • Minimum opening deposit: $2,500
  • Minimum balance to earn APY: Varies; see table.
  • Monthly account maintenance fee: None
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

This account boasts the ability to earn higher interest rates than the Membership Savings account, and while that’s true, these rates really aren’t at all impressive.

Other services with this account include mobile and online banking services. Since it is a savings account, this account is subject to Federal Reserve Regulation D, which limits certain debits to six per month; exceed this limit and you’ll face a $5 fee per additional transaction from the credit union.

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on Vibe Credit Union’s secure website

NCUA Insured

Elite Money Management account

Virtually the same as the regular Money Management account, but with slightly higher rate tiers.
APYMinimum Balance to Earn APY
0.05%$0
0.35%$50,000
0.45%$100,000
  • Minimum opening deposit: $2,500
  • Minimum balance to earn APY: Varies; see table.
  • Monthly account maintenance fee: None
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

This account comes with the same requirements and other characteristics as the regular Money Management account; the only difference is that there are higher required minimum balances which earn slightly higher rates. As such, it’s also subject to Federal Reserve Regulation D, which limits certain debits to six per month. You’ll be faced with a $5 fee per excess transaction if you go over that rule from the credit union.

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on Vibe Credit Union’s secure website

NCUA Insured

FU$E Money Management account

The Money Money Management account version for youths from birth to age 23.
APYMinimum Balance to Earn APY
0.05% $0
0.10%$2,500
0.15%$20,000
  • Minimum opening deposit: $2,500
  • Minimum balance to earn APY: Varies; see table.
  • Monthly account maintenance fee: None
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

The youth version of Vibe Credit Union’s Money Management money market account allows children (or their parents) and young adults save up for things like a trip, new car or college tuition while earning a small amount of interest. When the account holder turns 24, this account will become a regular Money Management account. A parent must be a joint owner on the account while their child is still a minor. Parents can remove themselves after their child turns 24 if they wish, though they can remain an owner of their new adult account as well. As with all other savings accounts, it heeds to Federal Reserve Regulation D, which limits certain debits to six per month.

SEE DETAILS Secured

on Vibe Credit Union’s secure website

NCUA Insured

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How Vibe Credit Union’s money market accounts compare

Like a large majority of money market accounts out there, Vibe Credit Union’s offerings come with pretty dismal rates and high balance requirements to earn the highest ones. We recommend seeking out better rates from other institutions, such as one of the many on our list of the best money market rates and accounts.

Vibe Credit Union IRA options

IRA CDs

Vibe Credit Union’s CDs, opened within an IRA with a minimum deposit of $500.
TermAPY
12 months0.35%
18 months0.50%
24 months0.65%
30 months0.75%
36 months1.00%
48 months1.05%
60 months1.16%
  • Minimum opening deposit: $500
  • Minimum balance amount to earn APY: $500
  • Early withdrawal penalty: 90 days’ worth of interest on a 1 year term; 180 days’ worth of interest on all other terms

These are Vibe Credit Union’s same CD products, just opened within an IRA at the same fairly mediocre rates. The required opening deposit and early withdrawal penalty are fairly standard, as are the renewal options.

SEE DETAILS Secured

on Vibe Credit Union’s secure website

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How Vibe Credit Union’s IRA CD rates compare

Just like with the regular CDs, the rates on the credit union’s IRA CDs are not really anything to write home about.

When you’re saving for your retirement, you especially want to make sure you have the best opportunity to grow your funds. That’s why we urge you to do your research to find the best product out there, such as one of the many options on our list of the best IRA CD rates.

IRA savings account

A retirement account that can be opened as a traditional or Roth IRA.
APYMinimum Balance to Earn APY
0.05%$500
0.05%$2,500
0.10%$20,000
  • Minimum opening deposit: $500
  • Minimum balance to earn APY: Varies; see table
  • Monthly account maintenance fee: None
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

Vibe Credit Union offers an IRA savings account that can be opened as a traditional or Roth IRA. Like its other savings products, the rates really aren’t all that impressive. As with any other savings account, it is subject to Federal Reserve Regulation D, which limits certain withdrawals and transfers to six per month.

How to get Vibe Credit Union’s personal banking products

If you qualify for membership, you can open Vibe Credit Union’s checking, savings and certificates after opening a Membership Savings account with an opening deposit of $5. You’ll need to provide your Social Security number and a government-issued ID to become a member. For the IRA CDs and IRA savings accounts, members will need to visit the credit union in person. For the FU$E Checking and Money Management accounts, members under 18 will need to visit the credit union with a parent to open the accounts.

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on Vibe Credit Union’s secure website

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Overall review of Vibe Credit Union’s banking products

Overall, none of the rates offered on Vibe Credit Union’s banking products are anything to get excited about. Its minimal fees and monthly requirements are a definite plus, as is the fact that both of its Vibe Credit Union’s checking account products earn interest, but you can still do better elsewhere. Do your research to find the deposit account that will really allow you to reap the most benefits on your funds.