Electro Savings Credit Union Info + Reviews
Electro Savings Credit Union is our focus here. We’ll be taking a look at a handful of details about this non-profit financial institution. Those include things like products, rates, member eligibility and more.
At the end of this article, you can add in your own personal review of this credit union if you have experience with them.
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*Routing #: 281081495
*Phone #: 314.434.6470
*Locations:
1805 Craigshire Road, Maryland Heights, MO 63146
407 Lafayette Center Road Manchester, MO 63011
12400 Tesson Ferry Road St. Louis, MO 63128
3315 Mid Rivers Mall Drive St. Peters, MO 63376
A Little History on Electro Savings Credit Union
On their website, it looks like you can get some history, however, there really isn’t any on their “Our Story” page. Good thing we’ve got the reliable NCUA database to turn to in times like this. According to ESCU’s profile there, they were chartered in 1941.
Assets today are over $240 million and because of their involvement in the CO-OP ATM network, you can access your cash at over 30,000 surcharge-free ATMs nationwide.
Do They Give Back at All?
Electro Savings Credit Union does give back to the community, yes. They support various charitable efforts in a lot of ways through sponsorships, financial donations, and their employees volunteering. They also offer a scholarship program.
Recently, they have supported organizations like Boys Hope Girls Hope, Black Girl Bleu, and the Wellston Loop Revitalization/Beautification Project.
Membership Requirements at Electro Savings Credit Union
If you want to join ESCU, then you’ll need to meet some requirements. The good news is that they are pretty straightforward, so, let’s go over those. Membership is available to anyone who is living or working (or has relatives doing the same) in St. Louis City and County plus a few others. St. Charles, Franklin, and Jefferson counties also get you in.
If you live in Illinois, then Jersey, Madison, St. Clair, and Monroe counties qualify you. Family connections in Illinois also work.
Their Products
You’ll be able to find the typical products that you’d get at a bank here. That will include personal products and business, too. As a side note, Electro Savings Credit Union has an awesome website.
On top of having accessibility features for people with disabilities, the website overall is just smooth. Everything is laid out conveniently and easy to find, including info on their ATMs and charity involvement, two things that are sometimes hidden on other CU websites.
They have personal checking, savings, business checking/savings, home loans, home equity loans, Kasasa products, auto loans, RV loans, Personal loans, student loans, and student loan refinance options.
You can also get loans for your business and personal/business credit cards. Additionally, there are investment and insurance products.
What’s Kasasa at Electro Savings Credit Union?
One of the first things that I noticed when I looked at the checking accounts was that they have one called Free Kasasa Cash Checking. It’s not the first CU where I’ve seen that mentioned and it won’t be the last.
Kasasa is a third-party financial company that supplies products to credit unions and small banks that have customized benefits. Their free checking account looks pretty good. It has 3.25% APY* on balances up to $10,000.
It also has 3.25% to .43% APY on balances over $10,000 depending on balance in account. There’s no monthly maintenance fees or minimum balance to earn rewards.
Rates
(all Electro Savings Credit Union rates current at the time of publishing this article, however, they are subject to change without notice)
APY = Annual Percentage Yield. APR = Annual Percentage Rate. Unless otherwise noted, deposit rates effective as of April 1, 2021. Fees may reduce earnings.
Kasasa Cash* Learn More-free Kasasa cash checking
| Balance | Minimum Opening Deposit | Rate | APYAnnual Percentage Yield |
|---|---|---|---|
| 0 – $10,000 | $0 | 3.20% | 3.25% |
| $10,000+ | $0 | 0.15% | 3.25% to 0.43% |
| All balances if qualifications not met | $0 | 0.10% | 0.10% |
Qualifications
Enrollments must be in place and all of the following transactions and activities must post and settle to your Kasasa Cash account during each Monthly Qualification Cycle:
- At least 1 direct deposit or ACH credit
- At least 14 debit card purchases
That’s it. Even if you don’t meet your qualifications during the cycle, your Kasasa Cash account is still free. Plus, you’ll still earn our base dividend rate. And you can get right back to earning your full rewards the very next month!
Kasasa Cash* Learn More- free Kasasa cash checking
| Balance | Minimum Opening Deposit | Rate | APYAnnual Percentage Yield |
|---|---|---|---|
| 0 – $10,000 | $0 | 3.20% | 3.25% |
| $10,000+ | $0 | 0.15% | 3.25% to 0.43% |
| All balances if qualifications not met | $0 | 0.10% | 0.10% |
Qualifications
Enrollments must be in place and all of the following transactions and activities must post and settle to your Kasasa Cash account during each Monthly Qualification Cycle:
- At least 1 direct deposit or ACH credit
- At least 14 debit card purchases
That’s it. Even if you don’t meet your qualifications during the cycle, your Kasasa Cash account is still free. Plus, you’ll still earn our base dividend rate. And you can get right back to earning your full rewards the very next month!
Basic Savings (Regular Shares) Learn More- basic savings Electro Savings Credit Union
| Balance | Minimum Balance | Rate | APYAnnual Percentage Yield |
|---|---|---|---|
| $0.01 – $4,999.99 | $1 | 0.05% | 0.05% |
| $5,000+ | $1 | 0.05% | 0.05% |
Youth Accounts Learn More- youth accounts
| Account | Balance | Minimum Balance | Rate | APYAnnual Percentage Yield |
|---|---|---|---|---|
| Super Saver Savings1 | $0.01 – $7,500 | $1 | 0.499% | 0.50% |
| Super Saver Savings | $7,500.01+ | $1 | 0.25% | 0.25% |
| Super Powers Savings2 | $0.01 – $7,500 | $1 | 0.499% | 0.50% |
| Super Powers Savings | $7,500.01+ | $1 | 0.25% | 0.25% |
| Student Services Savings3 | $0.01 – $7,500 | $1 | 0.499% | 0.50% |
| Student Services Savings | $7,500.01+ | $1 | 0.25% | 0.25% |
1 Primary Member Age 0 to 12
2 Primary Member Age 13 to 17
3 Primary Member Age 18 to 22
Club Accounts Learn More- club accounts Electro Savings Credit Union
| Account | Balance | Minimum Balance | Rate | APYAnnual Percentage Yield |
|---|---|---|---|---|
| Holiday Club4 | All balances | $0 | 0.30% | 0.30% |
| Vacation Club5 | All balances | $0 | 0.10% | 0.10% |
| Home Buyer Club6 | $0.01 – $4,999.99 | $50 | 0.10% | 0.10% |
| Home Buyer Club | $5,000+ | $50 | 0.10% | 0.10% |
4 One annual withdrawal
5 One quarterly withdrawal
6 Home Buyer Club Early Withdrawal Penalty: An early withdrawal penalty will be charged for a withdrawal prior to making a Home Purchase. The penalty we may impose will equal up to 365 days interest the account has been credited. If the account has been open less than 365 days, the penalty we impose will equal all interest credited. In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires the waiver of the early withdrawal penalty.
Money Market Learn More- money market accounts at Electro Savings Credit Union
| Balance | Rate | APYAnnual Percentage Yield |
|---|---|---|
| $0.01 – $10,000 | 0.05% | 0.05% |
| $10,000.01 – $25,000 | 0.10% | 0.10% |
| $25,000.01 – $50,000 | 0.149% | 0.15% |
| $50,000.01+ | 0.199% | 0.20% |
Effective March 1, 2021
$3,000 minimum balance
Up to 6 withdrawals per month with no fee
Plus Money Market Learn More- money market accounts
| Balance | Rate | APYAnnual Percentage Yield |
|---|---|---|
| $25,000+ | 0.199% | 0.20% |
Effective March 1, 2021
$25,000 minimum balance
Up to 6 withdrawals per month with no fee
No interest paid when balance falls below $25,000
Superior Money Market Learn More- money market accounts
| Balance | Rate | APYAnnual Percentage Yield |
|---|---|---|
| $100,000 – $200,000 | 0.499% | 0.50% |
| $200,000.01+ | 0.199% | 0.20% |
Effective March 1, 2021
$100,000 minimum balance
Up to 6 withdrawals per month with no fee
No interest paid when balance falls below $100,000
IRA Savings Learn More- individual retirement accounts iras
| Account | Balance | Rate | APYAnnual Percentage Yield |
|---|---|---|---|
| IRA Savings | $0.01 – $10,000 | 0.25% | 0.25% |
| IRA Savings | $10,000.01+ | 0.49% | 0.50% |
| Market Rate IRA | All balances | 1.242% | 1.25% |
Share Certificates ($1,000 – $10,000) Learn More- certificates of deposit cds
| Term | Rate | APYAnnual Percentage Yield | Penalty |
|---|---|---|---|
| 3 months | 0.20% | 0.20% | 90 days |
| 6 months | 0.20% | 0.20% | 90 days |
| 12 months | 0.25% | 0.25% | 90 days |
| Save to Win®7 12 months | 0.25% | 0.25% | 1st $25 2nd closure |
| 24 months | 0.30% | 0.30% | 90 days |
| 28 months8 | 0.30% | 0.30% | 180 days |
| 36 months | 0.30% | 0.30% | 180 days |
| 38 months8 | 0.30% | 0.30% | 180 days |
| 60 months | 0.698% | 0.70% | 180 days |
Effective December 7, 2020. Penalty for early withdrawal.
7 Save to Win Official Rules open pdf
8 Bump Rate Certificate. During the term of the certificate, member may request an increase to the current advertised rate of the equivalent bump rate certificate.
Share Certificates ($10,000.01 – $99,999.99) Learn More- certificates of deposit CDs
| Term | Rate | APYAnnual Percentage Yield | Penalty |
|---|---|---|---|
| 3 months | 0.20% | 0.20% | 90 days |
| 6 months | 0.20% | 0.20% | 90 days |
| 12 months | 0.25% | 0.25% | 90 days |
| 24 months | 0.30% | 0.30% | 90 days |
| 28 months9 | 0.30% | 0.30% | 180 days |
| 36 months | 0.30% | 0.30% | 180 days |
| 38 months9 | 0.30% | 0.30% | 180 days |
| 60 months | 0.69% | 0.70% | 180 days |
Effective April 19, 2021. Penalty for early withdrawal.
9 Bump Rate Certificate. During the term of the certificate, member may request an increase to the current advertised rate of the equivalent bump rate certificate.
Jumbo Share Certificates Learn More- certificates of deposit CDs Electro Savings Credit Union
| Term | Rate | APYAnnual Percentage Yield | Penalty |
|---|---|---|---|
| 12 months | 0.25% | 0.25% | 90 days |
| 24 months | 0.30% | 0.30% | 90 days |
| 36 months | 0.30% | 0.30% | 180 days |
| 60 months | 0.69% | 0.70% | 180 days |
$100,000 minimum. Effective April 19, 2021. Penalty for early withdrawal.
Jumbo Monthly Share Certificates Learn More- certificates of deposit cds
| Term | Rate | APYAnnual Percentage Yield | Penalty |
|---|---|---|---|
| 12 months | 0.25% | 0.25% | 90 days |
| 24 months | 0.30% | 0.30% | 90 days |
| 36 months | 0.30% | 0.30% | 180 days |
| 60 months | 0.69% | 0.70% | 180 days |
$100,000 minimum. Effective April 19, 2021. Penalty for early withdrawal.
IRA Share Certificates ($1,000 – $10,000) Learn More- individual retirement accounts iras
| Term | Rate | APY Annual Percentage Yield | Penalty |
|---|---|---|---|
| 6 months | 0.399% | 0.40% | 90 days |
| 12 months | 0.499% | 0.50% | 90 days |
| 24 months | 0.599% | 0.60% | 90 days |
| 28 months | 0.599% | 0.60% | 180 days |
| 36 months | 0.599% | 0.60% | 180 days |
| 38 months | 0.599% | 0.60% | 180 days |
| 60 months | 0.996% | 1.00% | 180 days |
Effective April 19, 2021. Penalty for early withdrawal.
IRA Share Certificates ($10,000+) Learn More- individual retirement accounts iras
| Term | Rate | APYAnnual Percentage Yield | Penalty |
|---|---|---|---|
| 6 months | 0.399% | 0.40% | 90 days |
| 12 months | 0.499% | 0.50% | 90 days |
| 24 months | 0.599% | 0.60% | 90 days |
| 28 months | 0.599% | 0.60% | 180 days |
| 36 months | 0.599% | 0.60% | 180 days |
| 38 months | 0.599% | 0.60% | 180 days |
| 60 months | 0.996% | 1.00% | 180 days |
Effective April 1, 2021. Penalty for early withdrawal.
Business Savings Learn More- basic business savings
| Balance | Rate | APYAnnual Percentage Yield |
|---|---|---|
| $0.01 – $4,999.99 | 0.05% | 0.05% |
| $5,000+ | 0.10% | 0.10% |
Visa Credit Cards Learn More- personal credit cards
| Type | APR (subject to change) |
|---|---|
| Platinum Card | 9.99% |
| Gold Card | 11.99% |
| Classic Card | 16.99% |
| Student Credit Card | 14.49% |
| Credit Builder Credit Card | 18.00% |
Effective November 1, 2021. Rates and terms are subject to change with required notice. Credit qualifications apply.
Home Loans
| Type | APR (as low as) |
|---|---|
| Home Equity Line of Credit | 2.875% |
| Home Equity Closed-End Fixed Rate | 2.875% |
| Mortgage Loans | Mortgage Center |
Effective November 1, 2021. Credit qualifications apply.
Personal Loans Learn More- personal term loans
| Personal Loans | APR (as low as) |
|---|---|
| Shares Secured Loan | Rate + 3.50% |
| Certificate Secured Loan | Rate + 3.50% |
| Stock Secured Loan | 8.75% |
| 50/50 Loan | 9.25% |
| Line of Credit | 11.25% |
| Signature Loan | 11.25% |
| Short-Term Emergency Loan | Call to apply |
Effective November 1, 2021. Credit qualifications apply.
Auto & Motorcycle Loans Learn More- auto loans Electro Savings Credit Union
| Type | APR (as low as) |
|---|---|
| Model years 2020 – 2022 | 2.25% |
| Model years 2016 – 2019 | 2.50% |
| Model years 2013 – 2015 | 3.25% |
| Model years up to 2012 | 5.25% |
Effective November 1, 2021. As low as Annual Percentage Rate (APR) shown is for a term up to 36 months. Other terms and APRs are available up to 84 months. Credit qualifications apply.
Recreational Vehicle Loans Learn More- recreational vehicle rv loans
| Type | APR (as low as) |
|---|---|
| New & Used Boats and Personal Watercraft | 5.25% |
| New & Used RVs and ATVs | 5.25% |
Effective November 1, 2021. As low as Annual Percentage Rate (APR) shown is for a term up to 60 months. Other terms and APRs are available up to 180 months. Credit qualifications apply.
Electro Savings Credit Union – Final Thoughts
This credit union in Missouri and Illinois is on the cutting edge. They have a great variety of products and have an awesome website to navigate through everything. In addition to that, they do a ton to give back to the community, which you won’t always find with small to mid-size credit unions out there.
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*All information in this article was current at the time of this writing, however, it could change without notice. We do our best to keep these updated, however, there is no guarantee you will find the same information on the CU’s website or at the time of opening an account with them.
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