SkyOne Federal Credit Union Savings Account Review

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  • National Savings Rate Average*: 0.47%
  • National Savings Rate Avg.*: 0.47%
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Read our review & open a new​ savings account with confidence.

SkyOne is NCUA insured up to $250,000 per depositor.

Fund your new account & take advantage of the power of compound interest today!

SkyOne Credit Union Logo Powered By Raisin

Rating:

APY

5.20%

SkyOne FCU Details

  • Money Market Account
  • Min. initial deposit: $1
  • 5.20% APY
  • SkyOne is Federally Insured by NCUA, the National Credit Union Administration
  • NCUA Insured up to $250,000
  • No Monthly Fees
  • 24 /7 Access to Funds
  • 18.3x National Avg. APY
  • Interest Compounded Daily
  • SkyOne Has Served Its Members for Over 70 Years

On SkyOne Federal Credit Union's Secure Site, NCUA Insured

Main Benefits You Get with SkyOne Federal Credit Union

Competitive APY:

SkyOne offers 5.20% APY through the SaveBetter Platform.

This APY is substantially higher than what you’ll find at most brick-and-mortar banks and even most online banks. The current APY is over 10x higher than the national average.

Low minimum balance requirement:

You can open a savings account with SkyOne Federal Credit Union for as little as $1. This makes it easy to open an account quickly and when you’re ready, to fully fund the account to start taking advantage of compound interest.

No monthly maintenance fee:

Everyone hates fees. They destroy your returns and are just a pain in the neck. Thankfully, SkyOne doesn’t charge any monthy maintence fees.

Customer service: 

SkyOne has partnered with Savebetter to bring it’s first-class savings account to more Americans. Savebetter has a supportive, accessible, responsive customer service team based in New York, NY.

FDIC insured:

SkyOne is federally insured by the National Credit Union Association. This covers you for as much as $250,000 per depositor, per institution, in the event of a bank failure. This means that if you have a joint account, you’ll enjoy up to $500,000 federally insured.

Unlimited Withdrawals: 

Unlike the big banks, SkyOne Federal Credit Union allows you to withdrawal money from your account as often as you need to. With any savings account, ideally you’ll be able to leave as much money as possible in the account to take advantage of the powerful effect of compound interest.

Not-For-Profit Institution:


SkyOne is a credit union. Credit unions are not-for-profit financial cooperatives, which means that they are owned and controlled by their members, rather than by outside shareholders. They are organized to serve the financial needs of their members, who typically have a common bond such as living or working in a specific geographic area or belonging to a certain group or organization. Credit unions operate on a not-for-profit basis, which means that they do not have shareholders who expect to receive a return on their investment. Instead, any excess earnings are returned to members in the form of lower loan rates, higher savings rates, and other benefits.

Open Your New Account with SkyOne FCU Now

 

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4.25%

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  • APY as of May 17, 2024
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To recap our recommendations.

Best Savings Accounts According To CompareAccounts™

SkyOne Federal Credit Union, Powered by SaveBetter

SkyOne Federal Credit Union uses the secure SaveBetter platform to offer savings products to savers nationwide. Customers open accounts at SaveBetter.com, and the platform manages all aspects of the products offered by SkyOne, including a customer’s deposits and withdrawals, statements and any customer service needs. In simple terms, SaveBetter provides you exclusive access to a special selection of Blue products. Best of all, SaveBetter is completely free!

 

Security: Funds deposited into any of the products accessible through SaveBetter are held by federally insured institutions. We use a host of cybersecurity measures to protect your funds and sensitive information.

Choice: Savings products from our network of financial institutions offer flexible terms and some of the most competitive interest rates. You can easily find the right product or mix of products for you.

Convenience: One account to hold all your deposit products. Simplified statements. Easy access to manage your funds – all through a streamlined digital platform.

Service: A supportive, accessible, responsive customer service team based in New York, NY, sets SaveBetter apart.

Access: Enjoy 24/7 online access to your account and funds.

Rich Heritage of SkyOne Federal Credit Union:

SkyOne Federal Credit Union has a rich heritage dating back to July 1949, when eight charter members established the CAA Region 6 Federal Credit Union to serve the financial needs of Civil Aeronautics Administration employees and their families in western states of the United States.

The credit union experienced rapid growth and by the end of the year, had 200 members and assets totaling $19,887.53. Starting with transactions conducted out of a cigar box during breaks and lunch hours, SkyOne Federal Credit Union has evolved into a dynamic financial institution, offering its members the best financial products and services available.

Throughout the years, the credit union has undergone several name changes as it expanded its membership to include new groups and increased its service territory.

When the CAA rebranded to the FAA, the credit union rebranded as well, becoming FAA Western Federal Credit Union, serving FAA employees in 13 western states. In 2000, it rebranded again to FAA First Federal Credit Union, reflecting an expansion to serve FAA employees in Alaska and eight Great Lakes states. Later, the credit union expanded its charter to serve all employees nationwide who work in the air transportation industry, including employees of FAA, TSA, airlines, air cargo companies, and more.

In 2010, it officially changed its name to SkyOne Federal Credit Union to better reflect its field of membership at the time, the nationwide air transportation industry. Recently, in April 2019, it expanded its membership territory to serve a much broader audience, most notably those who live, work, worship, go to school, or conduct business regularly near its Main Office in Hawthorne, CA.

Today, SkyOne Federal Credit Union serves over 40,000 members nationwide and has assets totaling $600 million+. It is proud to have served its members for over 70 years and remains dedicated to providing best-in-class financial solutions that improve the lives of its members.

SkyOne Products & Services for Its Members:

– Checking Accounts 
– Savings Accounts 
– Money Market Accounts
– Mobile Banking
– Online Banking
– Remote Check Deposits
– Share Certificates
– Account Transfers
– Individual Retirement Accounts (IRAs)
– Wire Transfers
– Credit Cards
– Insurance Services
– Investment Services
– Vehicle and Toy Loans 
– Personal Loans and Lines of Credit
– Financial Education and Counseling
-Mortgage Loans
– Emergency Financial Relief Program
– Home Equity Loans and HELOC And Much More

SkyOne Believes in Financial Education:

SkyOne offers the following programs to its members.

Free financial counseling through BALANCE. BALANCE financial counselors are experts when it comes to dealing with the fallout from a financial emergency. Whether you need to budget after a crisis, recover from losing a home, or contact creditors, they are here to help. It’s confidential and free.

In partnership with BALANCE, SkyOne offers Financial Webinars to help its members learn how to live your best financially fit life with FREE webinars to help you start saving smart. Webinars are usually hosted monthly

SkyOne has partnered with BizKid$ and Bite of Reality to offer several financially focused youth webinars and programs geared towards our younger members at NO cost to you. BizKid$ helps kids develop entrepreneurial mindsets while Bite of Reality gives teens a first taste of financial responsibilities.

SaveBetter Contact Information:

Phone Number: 844-994-EARN (3276)
(Monday to Friday from 9:00 a.m – 4:00 p.m)

Email Address: service@savebetter.com

Address:
85 Broad Street
New York, NY 10004

 

SkyOne Federal Credit Union:

Phone Number: 800.421.7111

Address:

14600 Aviation Blvd

Hawthorne, CA 90250-6656

Routing # 322077779

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*National Savings Rate Average as published by FDIC