Bridgeway Credit Union Review: Southern Institution, Free Checking

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General credit score union ranking

How Bridgeway Credit score Union financial institution accounts examine

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Execs 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 change into a member of Bridgeway Credit score Union, you have to 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 need to think about different establishments should you prioritize incomes a excessive charge.

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 likely one of the financial institution’s strongest merchandise. It has free overdraft safety and fees 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 have got no less than $100 in your account day by 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 suggests the speed you will earn will rely upon how a lot cash you have got in your account. You will 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 must also 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 should you’re particularly looking for a 6-month, 12-month, or 24-month time period. Bridgeway Credit score Union helps 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 People and serves a Black American neighborhood.

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

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

To contact buyer help, name your nearest department. Banking hours range, however typically, all branches are open Monday by way of 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 cellular 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 shall be secure 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 People typically deal with banking gaps in underserved communities. These establishments are very important for Black communities which were traditionally affected by discriminatory banking practices like redlining.

For those who’ve struggled to open a checking account attributable to a adverse banking historical past, Bridgeway Credit score Union has a second likelihood checking account referred to as One other Likelihood Checking. 

Bridgeway Credit score Union trustworthiness and BBB ranking

We normally embrace scores 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 clean relationship with a specific firm. For those who prefer to see if Bridgeway Credit score Union is an effective match, speak to present clients or learn on-line buyer critiques. 

On the intense facet, 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 upon 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 will additionally need to think about which financial institution accounts you’d prefer to open.

Credit score Union of Atlanta will seemingly be a greater possibility for CDs. It presents 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

For those who’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 presents 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. For those who do not qualify for membership with Bridgeway Credit score Union, Synovus Financial institution may very well be a good selection.

Synovus Financial institution’s strongest financial institution product is its Synovus Free Checking Account. With the account, you can get Synovus Plus options — like greater rates of interest on financial savings accounts or an computerized out-of-network payment refund every month. To be eligible for Synovus Plus, you will must 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.

Steadily 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.