FourLeaf Federal Credit Union Review: Savings, Checking, Money Market and Certificates

FourLeaf offers competitive share certificate (a credit union's version of certificates of deposit) rates, well above the national average. Terms from three months to five years are available, and the minimum deposit to open is $50. That’s a lot less than other institutions require.

The FourLeaf money market account, which is a kind of savings account, offers an annual percentage yield that’s much higher than the national average and higher than the credit union's regular savings account — as long as you have a balance of at least $500. But online banks offer much higher APYs. See our list of the best money market accounts, which offer more interest. (Read more about MMAs vs. savings accounts). This account did not factor into our overall rating for FourLeaf.

The FourLeaf Free Checking Account doesn’t have a minimum balance requirement or monthly fee. To earn interest on your balance, you’ll need to meet a few requirements: Opt in to online statements instead of paper ones, receive a direct deposit and make at least 10 point-of-sale transactions with your debit card. If you prefer to use your debit card when making purchases, it could be worth it to use this checking account and earn interest.

As part of the Co-op Solutions network, FourLeaf offers more than 30,000 fee-free ATMs. Even if you use an ATM outside the network, the credit union won’t charge you a fee (though the ATM owner might).

Unlike other credit unions that require you to live or work in a certain area to be eligible to join, FourLeaf only requires that you be a U.S. citizen or permanent resident and open a savings account with at least $5.

FourLeaf offers about a dozen of its own branches, all of which are in New York. Through the Co-op Solutions network, FourLeaf members also have access to a network of more than 5,300 shared branches across the country. (Read more about shared branch credit unions.)

Online banking is possible through the credit union’s website and mobile apps, which earn high ratings from iOS and Android users. Some information can be hard to find on the site, but you can find answers to common questions in the FAQ section or by typing in a search in the support section.

Customer support is available by phone from 7:30 a.m. to 7 p.m. Eastern time weekdays and from 8 a.m. to 2 p.m. ET on Saturdays.

Unlike other banks and credit unions that have reduced or eliminated overdraft fees, FourLeaf continues to charge a fee of $30 per overdraft. Because there’s no limit to the number of times the credit union can charge you the fee, it’s possible to rack up a high overdraft fee tab.

You can opt to link a savings or money market account or line of credit for overdraft protection; the fee is $5 per transfer. Opting in to courtesy pay — meaning the credit union will pay for transactions that overdraw your account so you can avoid declined transactions — is available but is subject to the $30-per-transaction fee.