VyStar Credit Union Review 2021

Published December 2020 by Lance Davis

AT A GLANCE
4.3

Bankrate Score

bank-logo

Free Checking

Low Fees

No monthly fees

VyStar could be a great option for Floridians and Georgians in select counties looking for a low-cost banking experience with accounts for the whole family.

  • CDs
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    4.5
  • Savings
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    3.3
  • Checking
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    5.0
  • MMAs
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    3.9
  • MORE HIGH-YIELD OPTIONS
    MORE HIGH-YIELD OPTIONS
    Goldman Sachs Bank USA

    Member FDIC

    Savings account

    0.50 % APY

    $ 0

    Min. balance for APY

    American Express National Bank

    Member FDIC

    Savings account

    0.50 % APY

    $ 1

    Min. balance for APY

    Axos Bank

    Member FDIC

    Checking account

    1.25 % APY

    $ 50

    To open

    $ 0

    To avoid fees

    Overall

    4.3

    Bankrate Score

    VyStar Credit Union is northeast Florida’s largest credit union offering various deposit accounts and services to hundreds of thousands of members.

    What we like

    • Minimum deposit and balance requirements overall are low.

    • The credit union charges no monthly service fees or ATM fees.

    • Account options are available for kids, teens and college students.

    • Checking account holders will earn some interest.

    What we don't

    • Membership is mainly limited to folks who live, work or are part of a group based in Florida and parts of Georgia.

    • Yields are low relative to what you can earn at other banks and credit unions.

    CD rates

    4.5

    Bankrate Score

    VyStar Credit Union offers traditional CDs across terms ranging from three months to five years. It also has additional terms like a 30-month CD. All traditional CDs require a minimum $500 deposit to open. Consumers who deposit more money benefit from a slightly higher APY. But account holders have to deposit at least $50,000 in order to qualify for the highest yield for each term.

    In addition to the standard share certificates, there’s also an 18-month step-up certificate, which allows the yield tied to the account to be raised one time before the end of the term. Account holders can also add additional deposits.

    What we like

    • The minimum balance required to open is low.

    • The credit union offers an 18-month step-up CD.

    What we don't

    • Larger deposits are needed to earn more interest.

    Savings accounts

    3.3

    Bankrate Score

    OTHER SAVINGS OFFERS YOU MAY LIKE
    Goldman Sachs Bank USA

    Member FDIC

    Savings account

    0.50 % APY

    $ 0

    Min. balance for APY

    Applicants can go online or visit a local branch to open a VyStar savings account. A primary savings account is required for membership. The minimum deposit needed to get started is just $5. To earn a yield, you’ll have to deposit $50. The account’s APY is slightly higher than the national average, but you can find yields much higher if you shop around. The savings account doesn’t charge a monthly service fee, though.

    In addition to a regular savings account, VyStar offers a Holiday Savings Account, a VyTeen Savings Account, a Bravo Account for college students and an Achieve Account geared toward young adults trying to reach certain goals.

    What we like

    • There’s a low minimum deposit to open and earn a yield.

    • The account doesn’t charge a monthly service fee.

    • Savings account options are available for youth, teens and college students.

    What we don't

    • The yield for the savings account is low compared with other institutions.

    Checking accounts

    5.0

    Bankrate Score

    OTHER CHECKING OFFERS YOU MAY LIKE
    Axos Bank

    Member FDIC

    Checking account

    1.25 % APY

    $ 50

    To open

    $ 0

    To avoid fees

    VyStar offers several checking account options, including a regular checking account, accounts for teens and college students and an account for seniors age 50 and older.

    It’s regular checking account offers members a free checking option and even a little bit of interest on money in the account. There are plenty of features that come with the account, according to VyStar’s website, including:


    • Free check-writing.

    • Free debit card or ATM card.

    • Free use of any VyStar ATM when you use your VyStar debit card.


    All of VyStar’s accounts are accessible through the credit union’s online and mobile banking channels. Like the other accounts, checking accounts can be opened online or at a local VyStar branch. The credit union offers a kit with instructions on how to switch out of your old checking account.

    What we like

    • VyStar offers a range of checking accounts to meet individual needs.

    • The account comes with lots of features such as free check-writing.

    • Account holders earn a little bit of yield on their checking balance.

    What we don't

    • Charge for same-day and next-day online bill payments.

    Money market accounts

    3.9

    Bankrate Score

    Vystar Credit Union also offers a money market account that can be opened online or at a branch. Within each balance tier, yields overall are higher than those for savings account holders.

    VyStar’s money market account pays an APY that’s more than twice the national average, though you can find higher yields elsewhere if you shop around. The account requires a minimum deposit of only $5 to earn interest, and it doesn’t charge a monthly fee. It does offer check-writing ability as well, and checks are free for customers ages 50 and above.

    What we like

    • Only $5 is required to earn interest, and it doesn’t charge a monthly fee.

    • Check-writing is available, and checks are free for customers ages 50 and above.

    What we don't

    • The top yield is low relative to what some other banks and credit unions offer.

    Bank experience

    VyStar Credit Union has more than 50 full-service branches. In addition to more than 200 ATMs located in the state of Florida, there’s access to more than 20,000 surcharge-free ATMs across the United States, Mexico and Canada. Some ATMs are available at retailers such as CVS Pharmacy, Target and Walgreens.

    Branch hours vary by location. Representatives are available through the contact center every day. Members can also contact the credit union through the live chat feature on their website.

    Members can use the credit union’s mobile app and take advantage of capabilities like Zelle and account alerts. Account holders can use touch ID or fingerprint recognition to get into the VyStar mobile app. There’s also a VyStar card control app that members can use to manage access to their debit cards.

    Other tools for members include financial calculators. There’s free financial counseling for members who need it and free financial courses for teens and college students. Digital wallet capabilities are available, too, through Apple Pay, Samsung Pay, Google Pay, Fitbit Pay and Garmin Pay.

    About VyStar Credit Union

    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.

    VyStar is headquartered in Jacksonville, Florida, and today has more than 700,000 members. It is northeast Florida’s largest mortgage lender.

    Membership is open to local residents who live or work in 49 Florida counties or in four counties in Southeast Georgia. You can also qualify for membership if you're part of a business, church or organization located in one of the counties within the field of membership.

    Lance Davis Twitter Created with Sketch. @LRD0015

    Lance Davis Twitter Created with Sketch. @LRD0015

    Lance Davis is the editorial director for Bankrate. Lance sets the vision and strategy for the editorial team to ensure Bankrate helps its readers make smarter personal finance decisions. Previously, he worked as the optimization editor, as well as the social media and newsletter editor. He joined Bankrate as a copy editor in November 2013. Lance is an Alabama native and graduated from Auburn University with a bachelor's degree in journalism.