Zia Credit Union review: Hispanic American-led credit union in New Mexico (2022)

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Overall bank rating

FeatureInsider rating (out of 5)
Savings3.75
Checking4
Share certificate3.75
Trustworthiness5
Total4.13

Pros and cons

ProsCons
  • Hispanic American-led credit union
  • Partners with Kasasa to offer high-yield and cash-back accounts
  • Free savings account, easy to waive fee on checking account
  • Only 3 branches in New Mexico
  • Does not compound interest (except on Kasasa accounts)
  • No free overdraft protection

Savings

Zia Credit Union Share Savings Account

Annual Percentage Yield (APY)

0.05% to 0.15% APY

Minimum Deposit Amount

$25

Zia Credit Union Share Savings Account

Annual Percentage Yield (APY)

0.05% to 0.15% APY

Minimum Deposit Amount

$25

Pros

  • $25 minimum opening deposit
  • No monthly service fees

Cons

  • Low interest rates
  • Does not compound interest

More Information

  • Hispanic American-led credit union with 3 branches in New Mexico (Los Alamos, Espanola, Santa Fe)
  • To become a member, you must live, work, or worship in Los Alamos, Rio Arriba, Pojoaque, or Santa Fe Counties
  • Tiered interest rates: Earn a higher rate when your balance reaches $3,999.01 and $39,999.01
  • Does not compound interest
  • Federally insured by the NCUA

Zia Credit Union Share Savings Account is a good option if you want a no-fee savings option, but it pays a low interest rate. To earn a better rate with compound interest, you can open the Kasasa Saver account — but you must make 12 debit card transactions each month to earn the high rate.

Checking

Zia Credit Union Basic Checking Account

Zia Credit Union Basic Checking Account

Annual Percentage Yield (APY)

None

Minimum Deposit Amount

None

Pros

  • No minimum opening deposit
  • Waive $1.50 monthly service fee by enrolling in e-statements
  • Unlimited check writing
  • First box of checks is free for members age 65+
  • No out-of-network ATM fees
  • Take out a loan as overdraft protection

Cons

  • $1.50 monthly service fee
  • $35 overdraft fee
  • Doesn't reimburse fees charged by out-of-network ATM providers
  • No free overdraft protection

More Information

  • Hispanic American-led credit union with 3 branches in New Mexico (Los Alamos, Espanola, Santa Fe)
  • To become a member, you must live, work, or worship in Los Alamos, Rio Arriba, Pojoaque, or Santa Fe Counties
  • Free ATMs nationwide in the CO-OP and CU Anytime networks
  • Waive $1.50 monthly service fee by enrolling in e-statements
  • Federally insured by the NCUA

To waive the $1.50 monthly fee on the Zia Credit Union Basic Checking Account, you just need to enroll in e-statements. Zia has loan options as overdraft protection, but it doesn't have a free tool for sweeping money from savings as protection like some banks do.

If you want something more robust than a basic checking account, Zia also has Kasasa accounts. Choose from a high-yield or cash-back checking option, or one that refunds a certain amount in Apple, Google Play, and Amazon purchases.

Zia Credit Union Share Certificate

Annual Percentage Yield (APY)

0.10% to 0.70% APY

Minimum Deposit Amount

$1,000

Zia Credit Union Share Certificate

Annual Percentage Yield (APY)

0.10% to 0.70% APY

Minimum Deposit Amount

$1,000

Pros

  • Competitive interest rates

Cons

  • $1,000 minimum deposit
  • Does not compound interest
  • Must contact Zia for early withdrawal penalty information

More Information

  • Hispanic American-led credit union with 3 branches in New Mexico (Los Alamos, Espanola, Santa Fe)
  • To become a member, you must live, work, or worship in Los Alamos, Rio Arriba, Pojoaque, or Santa Fe Counties
  • Terms range from 3 months to 5 years
  • Contact Zia for early withdrawal penalty information
  • Does not compound interest
  • Federally insured by the NCUA

Zia Credit Union pays competitive rates on share certificates, but it doesn't compound interest. This limits how much you will earn compared to other banks that compound interest daily or monthly.

How Zia Credit Union works

Zia Credit Union is a Hispanic American-led institution in New Mexico. It has a branch in Los Alamos, Espanola, and Santa Fe. You can use ATMs in the CO-OP and CU Anytime networks around the US for free.

Lobbies are open Monday, Wednesday, and Thursday from 8:30 a.m. to 5:00 p.m.; Tuesday from 10:00 a.m. to 5:00 p.m. (except for the first Tuesday of the month, when they open at 8:30 a.m.); and Friday from 8:00 a.m. to 6:00 p.m. Branches are closed on the weekend.

To become a member, you must live, work, or worship in Los Alamos, Rio Arriba, Pojoaque, or Santa Fe Counties. You may also join if you're related to someone who is a member or if you used to be a member. You'll need to open a Zia Credit Union Share Savings Account when you join.

Zia works with Kasasa, a financial company that partners with small banks and credit unions to offer competitive products. Through Zia, you can open a Kasasa high-yield savings or checking account, cash-back checking account, or checking account that refunds up to $10 per month in Amazon, Apple, and Google Play purchases. You'll have to meet certain qualifications to earn Kasasa rewards, such as making 12 debit card transactions each month.

The Zia mobile app doesn't have many online reviews yet. So far, the app has 3.6 out of 5 stars in the Apple store, and 3.8 out of 5 stars in the Google Play store.

Your deposits are federally insured by the NCUA for up to $250,000, or up to $500,000 for joint accounts.

Is Zia Credit Union trustworthy?

Zia Credit Union does not have any public controversies.

The Better Business Bureau gives Zia an A+ in trustworthiness. A strong BBB grade indicates that a company responds effectively to customer complaints, advertises honestly, and is transparent about business practices.

A good BBB score doesn't guarantee that you'll have a smooth relationship with a company, though. You may still want to ask friends and family about their experiences with Zia, or read online customer reviews.

The role of Hispanic American-led institutions

ManyHispanic American banks and credit unionsprovide services in both English and Spanish.There is a history of racial prejudice in banking and lending,specifically among Hispanic Americans, so working with a Hispanic American institution can help eliminate unfair bias.

Some of these institutions make it possible to open accounts if you are an immigrant or non-US citizen. Zia Credit Union does require a Social Security number to open an account, but you can see a full list of banks that accept applications from immigrants and noncitizens without SSNs here.

Zia contributes to the local community by donating to and volunteering at organizations such as Crisis Center of Northern New Mexico, UNM Children's Hospital, and New Mexico Wildlife Center. The credit union also provides college scholarships to local high school students.

How Zia Credit Union compares

We've compared Zia Credit Union to two other Hispanic American institutions in New Mexico: Guadalupe Credit Union and Community 1st Bank Las Vegas.

Zia Credit Union review: Hispanic American-led credit union in New Mexico (1)

Zia Credit Union

Zia Credit Union review: Hispanic American-led credit union in New Mexico (2)

Guadalupe Credit Union

Zia Credit Union review: Hispanic American-led credit union in New Mexico (3)

Community First Bank Las Vegas

New Mexico branches

3 (Los Alamos, Espanola, Santa Fe)

New Mexico branches

6 (Mora, Taos, Espanola, Santa Fe)

New Mexico branches

3 (Las Vegas, Mora)

Standout feature

Rewards accounts through Kasasa

Standout feature

Free basic checking account

Standout feature

Low minimum deposit on certificates

Open accountOpen accountOpen account

If you can make at least 12 debit card transactions each month, you may prefer Zia Credit Union for checking and savings accounts. Zia partners with Kasasa to offer high-yield and cash-back accounts, but you need to make 12 purchases every month to earn rewards.

You might like Guadalupe Credit Union and Community 1st Bank Las Vegas if you don't qualify for Kasasa accounts through Zia, though. The other two banks compound interest on their regular accounts, while Zia only compounds interest on Kasasa accounts. Compounding interest helps you earn more over time.

Laura Grace Tarpley, CEPF

Personal Finance Reviews Editor

Laura Grace Tarpley (she/her) is a personal finance reviews editor at Insider. She edits articles about mortgage rates, refinance rates, lenders, bank accounts, and borrowing and savings tips for Personal Finance Insider. She is also a Certified Educator in Personal Finance (CEPF). She has written about personal finance for six years. Before joining the Insider team, she was a freelance finance writer for companies like SoFi and The Penny Hoarder, as well as an editor at FluentU. You can reach Laura Grace at ltarpley@insider.com. See below for some of her work. Today's 30-year mortgage rates Here are the best mortgage lenders right now The pros and cons of paying off your mortgage early The best online high-yield savings accounts Chase checking accounts: Compare all 5 options Learn more about how Personal Finance Insider chooses, rates, and covers financial products and services »

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