The Gulf Coast Federal Credit Union Savings Account is a robust account that does not charge monthly service fees and allows you to earn interest on account balances of $25 or more.
Also, Gulf Coast has a KasasaSaver account that pays an even higher rate. To qualify for the high rates, you must open a Kasasa checking account and make 12 debit card transactions each month.
The Gulf Coast Federal Credit Union basic checking account does not charge a monthly service fee, but keep an eye out for other fees. You'll pay $3.50 each time you use overdraft protection and $1 at an out-of-network ATM.
Kasasa checking accounts, with cash back option, and high-yield option, are among the offerings offered by the credit union. They're available if you use your debit card at least 12 times a month.
Gulf Coast Federal Credit Union pays significant interest rates on share certificates, and you only need $500 to open an account. However, Gulf Coast's terms can be extended to three years, while many institutions offer terms as long as five years.
If you have a $10,000 balance, you may choose to utilize the Gulf Coast Federal Credit Union Money Market account as your main saving account - then you'll earn a higher interest rate than with the regular share savings account.
A Hispanic American-led institution in Texas, Gulf Coast Federal Credit Union is known as a Hispanic institution. It has four branches in Portland, Corpus Christi, and Alice. There are free ATMs at each branch. You can also use ATMs in Rally Credit Union, CC City Employees Credit Union, Star Credit Union, and Members First Credit Union networks for free, and Stripes Stores.
Here are the lobby and phone hours at all four of the branches:
The Gulf Coast mobile app has a score of 4.7 out of 5 stars in the Apple store and 4.1 out of 5 stars in Google Play.
Your deposits are subject to federal protection for up to $250,000, or up to $500,000 for joint accounts.
To open a bank account in a credit union, a member must qualify for membership first. You can join Gulf Coast Federal Credit Union if you live, work, worship, or go to school in Nueces, San Patricio, or Jim Well counties in Texas. If you have a significant family member who is a member, you may be eligible for membership.
For the first time, you'll pay $2.50 for membership, which includes one-time $2.50 membership fees. You'll also need to open a savings account with $5 from the Gulf Coast Federal Credit Union.
The Better Business Bureau gave Gulf Coast an NR grade because the BBB doesn't have enough information to provide a rating yet.
However, BBB grades don't guarantee you'll have a strong relationship with a company. You may also ask friends and family about their experiences with Gulf Coast or read online customer reviews.
The majority of Hispanic American banks and credit unions offer services in both Spanish and English. The banking and lending industry has had a history of racial prejudice in banking and lending, particularly among Hispanic Americans, so working with a Hispanic American institution can help eliminate unfair bias.
Kasasa bank accounts are available through Gulf Coast Federal Credit Union. Kasasa is a financial company that works with small banks and credit unions to provide customers with competitive advantages. You may be able to earn rewards with Kasasa accounts through Gulf Coast if you use your debit card frequently. You can earn a good interest rate that's higher than the average savings account or cash-back perks.
What are Gulf Coast Federal Credit Union's CD rates?
The share certificates of Gulf Coast Federal Credit Union will be worth 4.00% to 5.30% APY. The credit union's 18-month and 2-year terms stand out for their competitive interest rates.
We measured bank products and services using our bank account methodology for our review of the Gulf Coast Federal Credit Union.
In Personal Finance Insider, we examine various features for different bank accounts. We'll also look at early withdrawal penalties and interest rates specifically for CDs. Meanwhile, for checking accounts, we'll factor in the ATM network size and fees, as well as its overdraft protection options.
We'll also typically examine minimum opening deposits, ethics, customer support available, and mobile app ratings for all types of bank accounts.
CoastLife Credit Union has seven branches in Corpus Christie, Texas, and one branch in Portland, Texas. You can join CoastLife if you live or work in an eligible Texas county and have an immediate family member who is a current member or work for a select employee group.
Credit unions offer high-yield checking accounts, so your best option may depend on which account you can qualify for.
To earn an APY of more than $1000 on balances in the Gulf Coast Credit Union Kasasa Cash Checking account, each month you must make a direct deposit, ACH payment transaction, or ACH credit, receive online bank statements, and purchase 12 debit card purchases. The CoastLife Credit Union Bonus Checking account offers a high APY on balances up to $10,000 a month if you make 10 debit card purchases of at least $5, use internet banking, and receive online bank statements.
If you're looking for CDs, you'll likely choose Gulf Coast over CoastLife. Gulf Coast Credit Union offers higher CD rates on most terms, and allows you to open a CD with a minimum of $500.
Another financial institution in Texas is Rally Credit Union.
If you want an institution with a larger branch, you may choose Rally over Gulf Coast. Rally has 21 locations in the state, while Gulf Coast only has four locations.
To determine which institution is right for you, consider which bank accounts you want to open and how much money you want to keep in your account.
However, Rally offers slightly higher rates on its money market accounts - however, you'll need a minimum of $2,000 to open an account. If you don't have enough money to deposit, Gulf Coast will be a better option. Its Money Market account requires $10,000 to open, which is the minimum opening deposit required.