CO-OP Credit Union
Quick Summary
- HSA savings account
The Verdict
CO-OP Credit Union provides essential HSA features with a monthly fee of $1.67 and basic savings functionality, earning a 0/5.0 rating from HSA Orbit.
The Co-op Credit Union was organized in 1940 when the co-operative movement was going strong in the rural areas. Nine people who believed in the co-op movement and the impact it had on the financial well-being of people met at the Co-op Grocery Store and the idea of a credit union was born.
The Co-op Credit Union of Montevideo was chartered by the Minnesota Commerce Department in April of 1940. The original field of membership was patrons of several co-ops. The original office was in the upstairs of the Co-op Grocery Store where the ceilings were so low that members could not stand up straight.
As you can see below, there has been many wonderful changes and additions throughout the years. Our hope is to continue growing and providing members with financial services for many years to come.
Key Features
Banking & Access
Includes debit card.
Investment Options
This provider focuses on cash savings without investment options.
Security & Insurance
Deposits are FDIC/NCUA insured for your protection.
Account Details
No minimum balance to open. no account opening fees.
Fee Analysis
| Fee Type | This Provider | Industry Average | Verdict |
|---|---|---|---|
| Monthly Maintenance* | $1.67 | $0.69 | ABOVE AVG |
| Account Opening | $0.00 | $1.88 | EXCELLENT |
| Account Closing | $0.00 | $1.95 | EXCELLENT |
* Account Opening Fee
Industry averages calculated from 853 providers in the HSA Orbit database.
Investment Options
Savings-Only Account
CO-OP Credit Union currently offers a savings-focused HSA without investment options. Your funds earn interest in a cash account.
Interest Rates
Standard Rates
| Balance Range | APY |
|---|---|
| $10 - $2,500 | 1.30% |
| $2,500 - $10,000 | 1.70% |
| $10,000+ | 2.00% |
Last updated: 10-01-2024
Contact Information
Address
2407 E Highway 7 Montevideo, MN 56265-0447 Customer Service Mailing Address PO Box 447 Montevideo, MN 56265-0447
Customer Service
320-269-2117
2407 E Highway 7 Montevideo, MN 56265-0447 Customer Service Mailing Address PO Box 447 Montevideo, MN 56265-0447
At a Glance
Pros & Cons
The Good
- •No account opening or closing fees
- •FDIC/NCUA insured deposits
The Bad
- •Monthly fee of $1.67
- •No investment options available
- •No online banking
User Sentiment
Based on community feedback
Sentiment data coming soon
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