FAIRWINDS Credit Union Review: Our Verdict
FAIRWINDS Credit Union offers a variety of financial services, low fees, and a mobile app. It’s a beneficial option if you want to open a free checking account.
If you prefer credit unions over banks, FAIRWINDS Credit Union might be for you. Although they have a limited number of locations and customer service hours, their interest rates are low.
Pros
- Convenience: FAIRWINDS Credit Union have a network of branches and a mobile app that offers convenience. The mobile app allows you to manage your accounts, pay bills, and deposit checks on the go.
- Financially strong: FAIRWINDS Credit Union’s savings rates are 10x the national average, indicating financial strength and good deposit accounts. It has a B+ health rating.
- Competitive rates: FAIRWINDS Credit Union offers competitive savings rates that are 10 times the national average for deposit accounts.
- Range of products: FAIRWINDS Credit Union offers a diverse range of products, including checking and savings accounts, credit cards, loans, and investments.
- Convenience: FAIRWINDS Credit Union have a network of branches and a mobile app that offers convenience. The mobile app allows you to manage your accounts, pay bills, and deposit checks on the go.
- Financially strong: FAIRWINDS Credit Union’s savings rates are 10x the national average, indicating financial strength and good deposit accounts. It has a B+ health rating.
- Competitive rates: FAIRWINDS Credit Union offers competitive savings rates that are 10 times the national average for deposit accounts.
- Range of products: FAIRWINDS Credit Union offers a diverse range of products, including checking and savings accounts, credit cards, loans, and investments.
Cons
- Location: FAIRWINDS Credit Union is exclusively located in Florida, and opening new FAIRWINDS accounts at shared branches is not possible. As a result, customers who live outside of the state may not be able to access physical locations.
- Monthly charges for fees on savings accounts.
- Lower interest rates: FAIRWINDS Credit Union offers some savings accounts with lower interest rates compared to other financial institutions that pay higher savings and CD rates.
FAIRWINDS Credit Union Review: Who FAIRWINDS Credit Union Is Best For
FAIRWINDS Credit Union is best for the following types of customers:
- Floridians: FAIRWINDS Credit Union, primarily located in Florida, offers a convenient option for Floridians looking for a local credit union.
- People who value member-owned cooperatives: Credit unions are member-owned and often have a strong focus on customer service. FAIRWINDS is a suitable option for those who value customer service and prefer the cooperative model.
- Budget-conscious customers: FAIRWINDS Credit Union is an excellent choice for budget-conscious customers due to its low fees and account minimums.
- Those seeking competitive rates: FAIRWINDS offers competitive savings rates 10 times the national average, making it an excellent option for those aiming to maximize their return on savings.
FAIRWINDS Credit Union Review: Who FAIRWINDS Credit Union Isn’t Right For
While FAIRWINDS Credit Union boasts competitive rates and a strong local presence in Florida, it might not be the best fit for the following types of customers:
- People who need nationwide banking: FAIRWINDS operates solely in Florida, limiting its reach to those requiring banking services outside the state.
- Customers who need 24/7 customer service: FAIRWINDS Credit Union’s customer service hours are limited, which may not be convenient for those who require assistance outside of those hours.
- Those who prefer traditional banks: Credit unions are member-owned and often have a different service structure than traditional banks. If you prefer traditional banks, FAIRWINDS might not be your best fit.
FAIRWINDS Credit Union Review: What FAIRWINDS Credit Union Offers
FAIRWINDS Credit Union, a top credit union in Florida’s financial landscape, offers potential members a range of products and services for its customers, including:
- Checking accounts: FAIRWINDS Credit Union offers checking accounts with low or no monthly fees, online banking, mobile banking, and bill pay to manage everyday finances.
- Savings accounts: FAIRWINDS Credit Union offers savings accounts with competitive interest rates, FDIC insurance, and online banking features. This allows you to grow your savings with competitive interest rates, potentially exceeding the national average.
- Certificates of Deposit (CDs) are financial instruments that allow individuals to secure their funds for a fixed term, potentially resulting in higher interest rates.
- Credit cards: FAIRWINDS Credit Union offers credit cards with competitive rates, rewards programs, and convenient online account management.
- Auto loans: FAIRWINDS auto loans offer the opportunity to finance your new or used car with potentially competitive rates and loan terms designed to let you take control of your payments.
- Mortgages: Whether you’re purchasing a new home or refinancing your current one, FAIRWINDS offers mortgage options to help you every step of the way.
- Investments: FAIRWINDS Credit Union offers a range of investment products and services, including retirement accounts, mutual funds, and managed accounts.
- Mobile app: FAIRWINDS mobile app allows users to conveniently manage their accounts for deposits, transfers, and bill payments.
FAIRWINDS Credit Union Review: FAIRWINDS Credit Union Details
Here are some additional details about FAIRWINDS Credit Union:
- Location: FAIRWINDS Credit Union is located in Florida with a network of branches concentrated within the state.
- Membership: FAIRWINDS credit union is open to US residents who pay a minimal membership fee to become members, and open an account, and enjoy their services.
- ATM network: FAIRWINDS Credit Union offers customers access to over 33,000 ATMs nationwide and 5,500 shared branches through the CO-OP shared branch network.
- Financial strength: FAIRWINDS maintains a good financial health rating, and has a good financial health rating of B+. This indicates a stable and secure financial institution.
- Competitive rates: FAIRWINDS offers competitive rates on savings accounts, offering interest rates 10 times the national average.
FAIRWINDS Credit Union Review: Where FAIRWINDS Credit Union Stand Out
FAIRWINDS credit union stands out in the Florida financial landscape in the following areas:
- Financial strength: FAIRWINDS stands out as a secure and stable institution with a B+ financial health rating, ensuring a secure and stable environment for your hard-earned money.
- Local focus: FAIRWINDS credit union focuses on serving the Central Florida community with its network of branches within the state by providing personalized service and products tailored to the region and potentially easier access to in-person support.
- Competitive rates: They offer competitive rates, particularly on savings accounts, with returns 10 times the national average and low or no monthly fees on many of its products, including checking accounts, making it a budget-friendly option for customers.
FAIRWINDS Credit Union Review: Where FAIRWINDS Credit Union Fall Short
FAIRWINDS Credit Union falls short in the following areas:
- Limited locations: FAIRWINDS credit union is limited to Florida, hence its limited physical presence. If you were out of the state, their banking services wouldn’t be a suitable option.
- Limited ATM network: FAIRWINDS’ ATM network might be limited compared to larger banks.
FAIRWINDS Credit Union Review: How to Qualify for FAIRWINDS Credit Union
To qualify for FAIRWINDS Credit Union membership, you must meet one of the following criteria:
- Geographic location: To be eligible for FAIRWINDS Credit Union, you must live, work, worship, or attend school in a qualifying area in Florida.
- Membership share: To join FAIRWINDS Credit Union, you must open a membership share account with $5 required to establish membership and unlock account access. This can be confirmed through their website or customer service department.
FAIRWINDS Credit Union Review: How to Apply for FAIRWINDS Credit Union
To apply for FAIRWINDS credit union membership, follow these steps:
Visit the FAIRWINDS credit union website.
- Check your eligibility: The eligibility check requires residency in a qualifying Florida area. Select the type of membership you qualify for (e.g., residency, family, organization, or employer).
- Gather information: Membership Share: Find out the current membership share deposit required to become a member of the FAIRWINDS credit union and prepare verification documents proving identity and residency in qualifying Florida areas.
- Fill out the application form for FAIRWINDS credit union with your personal information, including your name, address, and Social Security number, on the online platform.
- Agree to the terms and conditions and submit the application.
- Select account: After your membership is approved, you can select the account type that best suits your needs, such as checking, savings, etc. Either online or by consulting with a FAIRWINDS representative.
FAIRWINDS Credit Union Review: Alternatives to FAIRWINDS Credit Union
Suncoast Credit Union
Suncoast Credit Union is a member-owned financial institution in Tampa, Florida, that offers its members a variety of financial products and services. They offer competitive rates on checking accounts, savings accounts, money market accounts, certificates of deposit (CDs), loans, and investment products. They also offer a mobile app for account management, secure online banking, and investment products such as IRAs or brokerage accounts. Suncoast’s advantages include competitive rates, a member-owned approach, financial strength, and a community focus.
Navy Federal Credit Union
The Navy Federal Credit Union (NFCU) is a prominent credit union serving military members and their families, offering various products and services. Membership is open to active-duty and retired military personnel, Department of Defence civilians, veterans, and their families. Navy Federal offers checking accounts, savings accounts, certificates of deposit (CDs), loans, investment products, and a mobile app for account management. They also provide mortgages, personal loans, secured loans, and investment products. The credit union has a large network of branches and ATMs worldwide, providing convenient access to funds. Its advantages include competitive rates, military focus, financial strength, and a wide network of branches and ATMs.
VyStar Credit Union
VyStar Credit Union offers a range of products and services to its members. Members can join through various means, including living, working, worshipping, or attending school in a qualifying area of Jacksonville, Florida. VyStar provides checking accounts, savings accounts, money market accounts, certificates of deposit (CDs), loans, and investment products.
FAIRWINDS Credit Union Review: Customer Reviews
FAIRWINDS Credit Union has a rating of 2.5 out of 5 stars based on 7 reviews on Trustpilot.
Some customers complained about FAIRWINDS customer care and loan services.
Pro Tips
Here are some pro tips to help you enjoy FAIRWINDS Credit Union:
- Consider your location: For easier account management and fund access, look for credit unions with branches or ATMs in your area, especially if you’re outside Florida.
- Compare fees and rates: Research the fees and interest rates of different credit unions to find the one that offers the best value for your money.
- Consider customer service: Read customer reviews and compare credit union customer service ratings to determine which one is most responsive and helpful to its members.
Recap
FAIRWINDS Credit Union is a Florida-based credit union that offers competitive rates, local focus, and membership benefits. However, it has limited reach and mixed reviews on customer service and online banking features
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