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You might like Fairwinds Credit Union if you prefer credit unions over banks. It's a good option if you want to open a free checking account. But if you prioritize a free savings account, the best credit unions may have more stand-out accounts.
Fairwinds Credit Union Review: Overall Ratings
| Feature | Insider rating (out of 5) |
| Savings | 3 |
| Checking | 4 |
| CD | 3.5 |
| Trustworthiness | 5 |
| Total | 4 |
Fairwinds Credit Union Pros and Cons
| Pros | Cons |
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Fairwinds Credit Union Bank Account Reviews
Fairwinds Credit Union Freedom Savings Account
$5 monthly service fee
0.10%
$10
- Low minimum opening deposit
- Possible to waive monthly service fee
- Low interest rate
- $5 monthly service fee
- 33 branches in Florida
- Part of the CO-OP Shared Branch network which has access to over 5,500 shared branches nationwide
- Anyone in the US can become a member
- To join Fairwinds Credit Union, you must open a membership share account with at least $5
- Monthly service fee waived for member under the age of 18
- You may also waive the $5 monthly if you meet one of the following requirements each month: 1) keep an average monthly balance of $300 or more; 2) Keep an average monthly balance of $10,000 or more across savings accounts (checking balance not included); 3) you have a Freedom Signature Checking Account or Freedom Preferred Checking Account or 4) You receive a Change It Up deposit from your checking account
- Must maintain at least $0.01 to earn interest
- Interest compounded daily and deposited monthly
- Federally insured by the NCUA
The Fairwinds Credit Union Freedom Savings Account may be a decent option if you meet one of the requirements for waiving the $5 monthly service fee. However, it only pays 0.10% APY, which is less than the average savings account interest rate.
Fairwinds Credit Union also offers a high-yield savings account with a higher interest rate, but it's exclusively for members with a Freedom Signature Checking Account. The Freedom Signature Checking Account has a $25 monthly service fee unless you meet one of the following requirements each month: 1) you maintain an average monthly combined balance of $25,000 across Fairwinds bank accounts or you maintain a $25,000 investment account balance through services offered by CUSO Financial Services, L.P.
Fairwinds Credit Union Freedom Spending Account
no monthly service fee
None
$25
- Low minimum opening deposit
- No monthly service fee
- Round up debit card purchases to nearest dollar and deposit change in a savings account
- $35 overdraft fee
- $2.50 out-of-network ATM fee
- $15 overdraft protection transfer fee
- 33 branches in Florida
- Access to over 33,000 ATMs nationwide
- Part of the CO-OP Shared Branch network which has access to over 5,500 shared branches nationwide
- Anyone in the US can become a member
- To join Fairwinds Credit Union, you must open a membership share account with at least $5
- Overdraft protection that lets you link your checking account to savings account or apply for a line of credit
- Change It Up feature lets you round up debit card purchases and deposit the change in a savings account
- Federally insured by the NCUA
The Fairwinds Credit Union Freedom Spending Account is one of the credit union's strongest products. This checking account has no monthly service fee; it also lets you round up debit card purchases to the nearest dollar and deposit the change in a savings account.
Fairwinds Credit Union CD
0.75% to 4.50%
$1,000
- Standard CD terms
- Competitive interest rate on a 13-month limited time CD
- $1,000 minimum opening deposit
- Other CD terms offer standard-to-low interest rates
- Standard-to-high early withdrawal penalties
- 33 branches in Florida
- Part of the CO-OP Shared Branch network which has access to over 5,500 shared branches nationwide
- Anyone in the US can become a member
- To join Fairwinds Credit Union, you must open a membership share account with at least $5
- Terms range from 3 months to 5 years
- Limited-time 13-month CD offering 4.00% APY
- Earn an additional 0.25% APY on your term if you have a Fairwinds Visa Signature Credit Card
- Interest compounded daily and deposited monthly
- Early withdrawal penalties: For CD terms 3 months or less, the penalty is 1 month of interest; For CD terms between 4 months and less than 1 year, the penalty is 3 months of interest; For CD terms between 1 year and 24 months the penalty is 6 months of interest; For terms over 2 years, the penalty is 9 months of interest
- Federally insured by the NCUA
Fairwinds Credit Union pays a competitive interest rate on a 7-month and 18-month CD special. If you're looking for another CD term, you'll likely find higher CD rates at other online financial institutions.
About Fairwinds Credit Union
Fairwinds Credit Union is a financial institution with over 30 branches in Florida.
Membership is open to anyone who lives in the US. To join Fairwinds Credit Union, you must open a membership share account with $5. The membership share account is a non-transaction account that doesn't pay interest or charge any monthly service fees.
Customers have access to over 33,000 ATMs nationwide. Fairwinds Credit Union is also part of the CO-OP Shared Branch Network, so customers have access to over 5,500 shared branches throughout the US.
The credit union's mobile app is rated 4.6 out 5 stars in the Google Play store and 4.8 out of 5 stars in the Apple store.
To contact a customer service representative, call or use the website's live chat feature from 8 a.m. to 6 p.m. ET on weekdays or 8 a.m. to 1 p.m. ET on Saturdays.
Fairwinds Credit Union accounts are federally insured by the NCUA. Up to $250,000 is secure in individual bank accounts, and $500,000 is safe in joint bank accounts.
The Role of Community Development Financial Institutions
CDFIs serve low-income and disadvantaged communities. Banks and credit unions have to undergo certification by the US Department of Treasury's Community Development Financial Institutions Fund and meet specific requirements to address banking barriers.
In 2022, Fairwinds Credit Union donated $50,000 to the Hurricane Recovery Fund and Florida Disaster Fund to help residents who were affected by Hurricane Ian. In 2017, Fairwinds Credit Union also launched the Fairwinds Foundation, a non-profit organization that's geared toward helping Central Florida residents achieve financial security.
Is Fairwinds Credit Union Trustworthy?
We include ratings from the Better Business Bureau so you can see how an institution addresses customer issues.
Fairwinds Credit Union received an A rating from the BBB because it has three unresolved customer complaints. Keep in mind great BBB ratings do not necessarily guarantee a smooth relationship with a business. You'll want to read online customer reviews or talk to current customers to see if Fairwinds Credit Union is a good match.
Fairwinds Credit Union hasn't been involved in any recent public controversies.
How Fairwinds Credit Union Compares
Fairwinds Credit Union vs. Suncoast Credit Union
Suncoast Credit Union is another Florida-based financial institution that is certified as a CDFI. To become a member at Suncoast Credit Union, you or a family member must live, work, go to school, or worship in one of over 35 eligible Florida counties.
If you're eligible for membership at both credit unions, you'll want to compare different bank accounts and see which options are the most appealing.
Suncoast Credit Union will be a better choice if you're specifically searching for a money market account. The Suncoast Credit Union Suncoast Credit Union Money Market Account also doesn't charge monthly service fees.
If you're searching for a checking account, it could be a toss-up between the two credit unions. The Fairwinds Credit Union Freedom Spending Account and Suncoast Credit Union Suncoast Credit Union Smartly Checking Account both have low minimum opening deposits, zero monthly service fees, and access to a nationwide ATM network.
Fairwinds Credit Union vs. VyStar Credit Union
Choosing between these two credit unions might depend on whether you meet the requirements for membership at either institution.
Anyone in the US can join Fairwinds Credit Union. At VyStar Credit Union, membership is open to anyone who lives or works in an eligible Florida or Georgia county on this list. Active military or veterans living anywhere in the world are also eligible for membership at VyStar.
If you're searching for a checking account, each financial institution has a worthwhile option.
The VyStar Credit Union Free Checking Account provides early direct deposit, so your paycheck can get processed up to two days early. Meanwhile, the Fairwinds Credit Union Freedom Spending Account doesn't charge monthly service fees and lets you round up debit card purchases and deposit the change in a savings account.
Why You Should Trust Us: How We Reviewed Fairwinds Credit Union
For our Fairwinds Credit Union review, we rated bank products and services using our editorial standards.
We rate products on a scale from one to five stars, and use a bank account methodology
For example, using our CD methodology we'll review interest rates, minimum opening deposit requirements, early withdrawal penalties, CD variety, customer support availability, mobile app ratings, miscellaneous features, security, and ethics of the overall company. Meanwhile, for checking accounts, we'll factor in the ATM network size and fees, overdraft protection options, customer support hours, mobile app ratings, ethics, security, miscellaneous features, minimum opening deposit requirements, and fees.
We use a weighted average to get our star rating, which means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience.
Fairwinds FAQs
Membership is open to anyone who lives in the US. To join Fairwinds, you must open a membership share account with $5.
Where are Fairwinds Credit Union branches located?
Fairwinds branches are located in the following cities in Florida: Altamonte Springs, Apoka, Clermont, DeLand, Deltona, Edgewater, Kissimmee, Lake Mary, Leesburg, Longwood, Mount Dora, New Smyrna Beach, Orange City, Orlando, Ormond Beach, Oviedo, Sanford, Winter Garden, Winter Park, and Winter Springs.
Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
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