Empower Federal Credit Union
Quick Summary
- HSA savings account
The Verdict
Empower Federal Credit Union provides essential HSA features with zero monthly maintenance fees and basic savings functionality, earning a 0/5.0 rating from HSA Orbit.
Empower Federal Credit Union is a full-service financial institution that provides savings, loans, and other financial products to members in Central New York, and in eight counties throughout New York State. As a credit union, Empower is a financial cooperative and is not-for-profit. In 2007, a merger of equals occurred between Power and Empire to create Empower Federal Credit Union. Power Federal Credit Union was founded in 1939 by nine employees of what was then CNY Power Corporation/Niagara Mohawk (currently National Grid). Empire Federal Credit Union was established in 1950 as Syracuse District Telephone Employees Federal Credit Union, by employees of the Syracuse office of the New York Telephone Company. Several other credit unions also merged with us throughout our history.
Key Features
Banking & Access
Includes debit card and check-writing.
Investment Options
This provider focuses on cash savings without investment options.
Security & Insurance
Deposits are FDIC/NCUA insured for your protection.
Account Details
Requires $1 minimum balance. no account opening fees.
Fee Analysis
| Fee Type | This Provider | Industry Average | Verdict |
|---|---|---|---|
| Monthly Maintenance | $0.00 | $0.69 | EXCELLENT |
| Account Opening | $0.00 | $1.88 | EXCELLENT |
| Account Closing | $0.00 | $1.95 | EXCELLENT |
Industry averages calculated from 853 providers in the HSA Orbit database.
Investment Options
Savings-Only Account
Empower Federal 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 |
|---|---|
| $0 - $2,499 | 1.00% |
| $2,500 - $4,999 | 1.05% |
| $5,000 - $9,999 | 1.10% |
| $10,000+ | 1.15% |
Last updated: 07-29-2024
Contact Information
Address
5933 South Salina Street Syracuse, NY 13205 Customer Service Mailing Address Empower Federal Credit Union 1 Member Way Syracuse, NY 13212
Customer Service
800-462-5000
5933 South Salina Street Syracuse, NY 13205 Customer Service Mailing Address Empower Federal Credit Union 1 Member Way Syracuse, NY 13212
At a Glance
Pros & Cons
The Good
- •No monthly maintenance fees
- •No account opening or closing fees
- •FDIC/NCUA insured deposits
The Bad
- •No investment options available
- •No online banking
User Sentiment
Based on community feedback
Sentiment data coming soon
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