Bridgeway Credit Union Review: Southern Institution, Free Checking

Insider’s specialists select the most effective services and products to assist make good selections along with your cash (right here’s how). In some instances, we obtain a fee from our our companions, nevertheless, our opinions are our personal. Phrases apply to affords listed on this web page.

General credit score union ranking

How Bridgeway Credit score Union financial institution accounts evaluate

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Professionals and cons

Bridgeway Credit Union Bridgeway Credit Union Bridgeway Savings Account

Bridgeway Credit score Union Bridgeway Financial savings Account


Annual Proportion Yield (APY)

As much as 0.10% APY


Minimal Deposit Quantity

$5

Bridgeway Credit Union Bridgeway Credit Union Bridgeway Savings Account

Bridgeway Credit score Union Bridgeway Financial savings Account


Annual Proportion Yield (APY)

As much as 0.10% APY


Minimal Deposit Quantity

$5

On Bridgeway Credit score Union’s web site


Annual Proportion Yield (APY)

As much as 0.10% APY


Minimal Deposit Quantity

$5

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To grow to be a member of Bridgeway Credit score Union, you should open the Bridgeway Credit score Union Bridgeway Financial savings Account with no less than $5. The financial savings account has a low rate of interest, although, so that you may wish to contemplate different establishments in case you prioritize incomes a excessive price.

Bridgeway Credit Union Bridgeway Credit Union Bridgeway Checking Account

Bridgeway Credit score Union Bridgeway Checking Account


Annual Proportion Yield (APY)

As much as 0.25% APY


Minimal Deposit Quantity

$0

Bridgeway Credit Union Bridgeway Credit Union Bridgeway Checking Account

Bridgeway Credit score Union Bridgeway Checking Account


Annual Proportion Yield (APY)

As much as 0.25% APY


Minimal Deposit Quantity

$0

On Bridgeway Credit score Union’s web site


Annual Proportion Yield (APY)

As much as 0.25% APY


Minimal Deposit Quantity

$0

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The Bridgeway Credit score Union Bridgeway Checking Account is among the financial institution’s strongest merchandise. It has free overdraft safety and prices zero month-to-month service charges.

This account additionally stands out as a result of you can earn 0.25% APY so long as you could have no less than $100 in your account each day.

Bridgeway Credit Union Bridgeway Credit Union Bridgeway Money Market Account

Bridgeway Credit score Union Bridgeway Cash Market Account


Annual Proportion Yield (APY)

0.30% to 0.50% APY


Minimal Deposit Quantity

$2,500

Bridgeway Credit Union Bridgeway Credit Union Bridgeway Money Market Account

Bridgeway Credit score Union Bridgeway Cash Market Account


Annual Proportion Yield (APY)

0.30% to 0.50% APY


Minimal Deposit Quantity

$2,500

On Bridgeway Credit score Union’s web site


Annual Proportion Yield (APY)

0.30% to 0.50% APY


Minimal Deposit Quantity

$2,500

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The Bridgeway Credit score Union Bridgeway Cash Market Account has a tiered rate of interest, which implies the speed you may earn will rely on how a lot cash you could have in your account. You may want no less than $2,500 to open a cash market account at Bridgeway Credit score Union, which is a bit steep in comparison with different brick-and-mortar monetary establishments. 

You also needs to be aware of the account’s $25 month-to-month service payment. A minimal of $2,500 must be stored in your account to keep away from this payment.

Bridgeway Credit Union Bridgeway Credit Union Bridgeway Savings Certificates

Bridgeway Credit score Union Bridgeway Financial savings Certificates


Annual Proportion Yield (APY)

0.40% to 0.65% APY


Minimal Deposit Quantity

$500

Bridgeway Credit Union Bridgeway Credit Union Bridgeway Savings Certificates

Bridgeway Credit score Union Bridgeway Financial savings Certificates


Annual Proportion Yield (APY)

0.40% to 0.65% APY


Minimal Deposit Quantity

$500

On Bridgeway Credit score Union’s web site


Annual Proportion Yield (APY)

0.40% to 0.65% APY


Minimal Deposit Quantity

$500

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You may like Bridgeway Credit score Union financial savings certificates in case you’re particularly looking for a 6-month, 12-month, or 24-month time period. Bridgeway Credit score Union permits you to open a CD with an preliminary deposit of $500 — most brick-and-mortar monetary establishments typically require no less than $1,000 to open a CD.

How Bridgeway Credit score Union works

Bridgeway Credit score Union is acknowledged as a minority depository establishment (MDI) by the NCUA. The establishment is led by Black Individuals and serves a Black American group.

It has one department in Alabama and three in Georgia. Clients have entry to over 30,000 in-network ATMs.

You might be part of Bridgeway Credit score Union in case you or a member of the family work with a Choose Worker Group on this listing, or in case you reside in Russell County, Alabama; Dougherty County, Georgia; or Muscogee County, Georgia. To grow to be a member, you may have to open a financial savings account with no less than $5. You may additionally should pay a $5 preliminary membership payment.

To contact buyer help, name your nearest department. Banking hours differ, however typically, all branches are open Monday by Thursday from 9 a.m. to five p.m. ET, and Friday from 9 a.m. to five:30 p.m. ET.

The credit score union’s cell app is rated 4.5 out of 5 stars within the Apple retailer and three.7 out of 5 stars within the Google Play retailer.

Bridgeway Credit score Union is federally insured by the NCUA.  This implies the cash in your checking account will probably be protected even within the uncommon circumstance {that a} financial institution shuts down.

The function of Black-owned monetary establishments 

Monetary establishments owned or led by Black Individuals typically tackle banking gaps in underserved communities. These establishments are very important for Black communities which were traditionally affected by discriminatory banking practices like redlining.

In the event you’ve struggled to open a checking account as a result of a unfavorable banking historical past, Bridgeway Credit score Union has a second probability checking account referred to as One other Likelihood Checking. 

Bridgeway Credit score Union trustworthiness and BBB ranking

We often embrace rankings from the Higher Enterprise Bureau, which charges companies on clear enterprise practices and customer support points. Nevertheless, Bridgeway Credit score Union hasn’t been rated but by the BBB. 

A excessive BBB ranking will not essentially assure a easy relationship with a selected firm. In the event you prefer to see if Bridgeway Credit score Union is an effective match, speak to present prospects or learn on-line buyer critiques. 

On the intense aspect, Bridgeway Credit score Union hasn’t been concerned in any current public controversies.

Bridgeway Credit score Union vs. Credit score Union of Atlanta

Bridgeway Credit score Union and the Credit score Union of Atlanta are each acknowledged as MDIs by the NCUA.

Deciding between these two establishments could in the end rely on the place you reside. Bridgeway Credit score Union has one department in Phenix Metropolis, Alabama, and three branches in choose counties in Georgia. The Credit score Union of Atlanta has two branches in Atlanta, Georgia, and it is a part of the CO-OP Shared Community, which gives entry to over 5,000 shared branches all through the US. 

You may additionally wish to contemplate which financial institution accounts you’d prefer to open.

Credit score Union of Atlanta will possible be a greater choice for CDs. It affords aggressive rates of interest on long-term CDs and has extra time period choices to select from.

In the meantime, Bridgeway Credit score Union makes it simpler to keep away from typical financial institution charges on a checking account.

Bridgeway Credit score Union vs. Synovus Financial institution

In the event you’re trying to open a financial savings account or cash market account, you may lean extra towards Bridgeway Credit score Union. Bridgeway Credit score Union affords extra aggressive rates of interest on these accounts than Synovus Financial institution. 

Synovus Financial institution is a regional financial institution with areas in Alabama, Georgia, Florida, South Carolina, and Tennessee. In the event you do not qualify for membership with Bridgeway Credit score Union, Synovus Financial institution may very well be a sensible choice.

Synovus Financial institution’s strongest financial institution product is its Synovus Free Checking Account. With the account, you would get Synovus Plus options — like larger rates of interest on financial savings accounts or an computerized out-of-network payment refund every month. To be eligible for Synovus Plus, you may have to have a minimal month-to-month deposit of $5,000 in your checking account or a steadiness of no less than $25,000 throughout all of your Synovus accounts.

Often requested questions

Bridgeway Credit score Union has branches within the following cities: 

  • Phenix Metropolis, Alabama
  • Albany, Georgia
  • Leesburg, Georgia
  • Columbus, Georgia

Sure. Bridgeway Credit score Union is federally insured. As much as $250,000 is safe in particular person financial institution accounts, and $500,000 is safe in joint financial institution accounts.