HOPE Credit Union review 2025: Showstopping checking account APY, but only in these 5 states

HOPE won’t be a fit for everyone though. There are some restrictions that mean you may not be eligible—and a lack of transparency in some areas that some potential customers could find off-putting. Here’s what you need to know to decide if HOPE Credit Union is a good match for your banking needs. 

Rates and fees are current as of Oct. 1, 2025 and are subject to change. 

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HOPE Credit Union

Who is HOPE Credit Union good for? 

HOPE Credit Union is likely a good option for those who live in the region the institution refers to as the Deep South and who are looking for a full-service financial institution with the potential for a generous checking account APY. The credit union has locations in Alabama, Arkansas, Louisiana, Mississippi, and Tennessee—and some of its accounts are available only to members living in this area. 

This credit union offers several checking accounts and savings options, including CDs and a money market account. And while anyone can join HOPE with a $10 donation, only the HOPE Savings Account is available to those who don’t live in these states, according to a customer service representative. 

In short, if you’ve got a HOPE Credit Union branch nearby, it could be a great option. 

Who shouldn’t use HOPE Credit Union? 

HOPE Credit Union may not be ideal if you’re after the highest interest rate possible on your savings. The APYs on its savings accounts aren’t competitive with any of our picks for the best high-yield savings accounts, for instance.

HOPE Credit Union rates and products 

HOPE Credit Union offers several checking accounts, including a rewards checking and a student checking account. It also provides a couple savings accounts, a money market account, and CDs with terms between six and 60 months. 

Credit union details checked Oct. 1, 2025.  

Checking accounts 

HOPE Credit Union offers four checking accounts and one debit card account. 

Two checking accounts, the Easy Checking and Easy Checking Plus, charge annual fees which can be skirted by maintaining a reasonable minimum balance. The debit card option, called HOPE Choice Card, charges a $4 monthly fee which cannot be waived. 

The other two account options, HOPE Rewards Checking and Student Checking, are free checking accounts with no monthly maintenance fee. 

Most tantalizing is the HOPE Rewards Checking, which comes with top-tier APY. Customers can earn: 

• 5.12% APY for balances of up to $10,000 
• 0.50% APY for balances over $10,000 

To achieve these returns, you’ll need to make 12 debit card transactions, log in to your HOPE digital banking account at least once, opt for e-statements, and receive at least one direct deposit or ACH into your account each month. Any month you don’t complete these requirements, you’ll earn a much less impressive 0.10% APY. 

You’ve also got the option to add a savings account onto your Rewards Checking account, called a HOPE Rewards Checking Plus account. This unlocks higher APY potential for your savings (we’ll discuss that in a minute). 

Credit union details checked Oct. 1, 2025.

Easy Checking account features

• Account opening bonus: N/A 
• Minimum opening deposit: $25  
• Minimum balance: $25
• Monthly fees: $9.95 (waived with $200+ balance) 
• APY: N/A 
• Transaction limitations: Unlimited 
• Paper checks: Yes 
• Overdraft fees: $25  

Easy Checking Plus account features

• Account opening bonus: None 
• Minimum opening deposit: $0
• Minimum balance: $0
• Monthly fees: $7.95 (waived with $250+ balance) 
• APY: None 
• Transaction limitations: Unlimited 
• Paper checks: Yes 
• Overdraft fees: $25

HOPE Rewards checking account features

• Account opening bonus: None 
• Minimum opening deposit: $0
• Monthly fees: $7.95
• APY: Up to 5.12% for balances of up to $10,000 (0.50% for balances over $10,000) with qualifying activity
• Non-HCU ATM fee waiver: Up to $20 per month 
• Transaction limitations: Unlimited 
• Paper checks: Yes 
• Overdraft fees: $25  

HOPE Student checking account features (only for ages 18-25)

• Account opening bonus: None 
• Minimum opening deposit: $0  
• Monthly fees: $0  
• Top APY: None 
• Transaction limitations: Unlimited 
• Non-HCU ATM fee waiver: Up to $5 per month for the first 12 months 
• Paper checks: Yes 
• Overdraft fees: $25  

HOPE Choice Card account features

• Account opening bonus: None 
• Minimum opening deposit: $0  
• Monthly fees: $4  
• Top APY: None 
• Transaction limitations: Unlimited 
• Paper checks: Yes 
• Overdraft fees: $25  

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Savings accounts 

HOPE Credit Union offers two types of “share accounts” (the traditional credit union lingo for a savings account): A standard savings account and a “Holiday Club” account. 

HOPE share accounts offer an APY of 0.25% as long as you’ve got a balance of at least $100. But again, by opening both a HOPE Rewards Checking and a savings account, you can qualify for what’s called a HOPE Rewards Saving Plus account—which earns up to 1.51% APY. 

Still, no matter which savings account you open, it’s not competitive when pitted against many of the best high-yield savings accounts. If you want to maximize the interest you earn on your savings, you’ll want to keep those funds elsewhere. 

HOPE also offers a special nonprofit bonus rate savings account which is exclusively for nonprofit organizations.

Savings account features

• Minimum opening deposit: $15  
• Minimum balance: $15 
• Monthly fees: $0 
• Top APY: 0.25% 
• Minimum balance to earn interest: $100 
• Transaction limitations: 3 teller and 3 ATM transactions per month 

Holiday Club account features

• Minimum opening deposit: $10  
• Minimum balance: $0
• Monthly fees: $0  
• Top APY: N/A 
• Transaction limitations: Funds are dispersed on October 31 each year ($10 fee for early withdrawals) 

Money market accounts 

A money market account is essentially like a savings account with checking account features. It allows you to spend money directly from your account instead of first transferring it to a checking account. HOPE Credit Union’s MMA allows you to spend with both paper checks and electronic transactions. You won’t get an ATM card, however. 

Its MMA earns an unimpressive rate on balances under $100,000. And while it earns an exponentially higher rate for accounts with $100,000 or more, it’s still not as high as you can find with many of the best money market accounts.

Share certificates 

Like most credit unions, HOPE Credit Union calls its CDs “share certificates.” It offers standard, jumbo and IRA CDs. 

For the most part, its standard and IRA CDs don’t offer competitive rates. But if you can swing a jumbo CD (which requires a whopping $95,000 deposit), rates become very competitive. 

You can also select a “Transformational CD,” which comes with a meager 0.25%-0.35% APY. It’s meant to help struggling communities access the funds they need. In other words, you’re accepting a lower return for a good deed. 

As you’d expect, there are early withdrawal penalties if you access your funds before the end of your CD term. However, HOPE does not reveal the penalty you’ll pay until you cancel. This is an extremely customer-unfriendly policy that may make the financial institution a nonstarter despite a collection of competitive return rates.

Standard CDs

Credit union details checked Oct. 1, 2025.  

Jumbo CDs 

Credit union details checked Oct. 1, 2025.  

IRA CDs 

Credit union details checked Oct. 1, 2025.  

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Other services HOPE Credit Union offers  

• Individual retirement accounts (IRAs): You can open either a traditional or Roth IRA with a $25 minimum deposit.  
• Small business banking: If you have a small business, HOPE Credit Union offers business checking and lending accounts.  
• Personal loans: HOPE Credit Union offers several personal loans, including short-term loans, credit builder loans, and loans secured by a share certificate.  
• Auto loans: You can apply to finance your next car at HOPE Credit Union at a competitive rate.  
• Mortgages: In addition to traditional mortgages, HOPE Credit Union also has loans specifically meant for low- or moderate-income families.  
• Home equity loans: HOPE Credit Union offers the option to borrow against the equity of your home. 
• Credit cards: Three credit cards are available, including a rewards card and a secured card.  
• Insurance: HOPE Credit Union offers insurance for your life, vehicle, and home. 

Online banking 

HOPE Credit Union comes with most of the features you’d expect from an online banking platform. From remote deposit to transferring funds to paying your bills, the standard bases are covered. HOPE also offers a mobile app for both Apple and Android. 

The HOPE Credit Union platform and customer support  

You can reach HOPE Credit Union via phone at 866-321-4673 or by sending an email via the website’s Contact page. HOPE’s automated phone system is available 24/7 and you can reach live representatives Monday through Friday from 8 a.m. to 5 p.m. Central Time. 

HOPE has branches across Alabama, Arkansas, Louisiana, Mississippi, and Tennessee. 

Is HOPE Credit Union secure? 

HOPE Credit Union is as secure as you can expect from a financial institution. Your funds are protected by National Credit Union Administration (NCUA) insurance up to $250,000 per account type, per depositor. In other words, if the credit union fails, your funds will be returned to you up to the limit. 

HOPE offers fraud alerts and implements multi-factor authentication to keep your account safe, making it more difficult for hackers to access your information. 

HOPE Credit Union user reviews 

The customer most likely to write an online review is the one with a negative experience. For this reason, online reviews of financial institutions tend to be poor. 

With that in mind, HOPE Credit Union tends to get mixed reviews from the online community. For example, Reddit users comment positively on the high APYs available for certain deposit accounts, while others disparage the institution for what they think is overall incompetence and a poor response to fraudulent activity. 

It’s also worth mentioning that, while HOPE Credit Union isn’t accredited with the Better Business Bureau, it receives an F grade due to 11 complaints being filed—all of which the credit union failed to respond to. 

Compare HOPE Credit Union to alternatives 

Those seeking high-yield deposit accounts that are available with less geographic restriction may wish to consider Alliant Credit Union or Discover Bank. 

HOPE Credit Union	Alliant Credit Union	Discover Bank
Top savings APY	Top savings APY	Top savings APY
1.51%	3.10%	3.50%
Top checking APY	Top checking APY	Top checking APY
5.12%	0.25%	N/A (but up to 1% cash back when using your debit card)
Top CD APY	Top CD APY	Top CD APY
3.74%	4.10%	3.50%
View offer at MoneyLion	View offer at MoneyLion	View offer at Discover

Bank/credit union details checked Oct. 1, 2025.

Is HOPE Credit Union right for you? 

HOPE Credit Union may be right for you if you live in Alabama, Arkansas, Louisiana, Mississippi, or Tennessee. Its Reward Checking account APY is virtually unbeatable, giving you an excellent return for the account balance you use to do all of your spending. 

Just remember, if you don’t live in an eligible state, you’re relegated to the basic HOPE Savings Account—which has no real benefits to write your mother about. 

Frequently asked questions

Can anyone join HOPE Credit Union nationwide?

Yes, anyone can join HOPE Credit Union nationwide with a membership fee consisting of a $10 donation. But remember, this only entitles you to open a basic savings account unless you live in a qualifying area, namely: Alabama, Arkansas, Louisiana, Mississippi, or Tennessee.

Does HOPE Credit Union have a mobile app?

Yes, HOPE Credit Union has an app in both the Google Play Store and the Apple App Store.

Is HOPE Credit Union FDIC insured?

No, credit unions are instead insured by the National Credit Union Administration (NCUA) up to $250,000 per account holder per ownership category. 

What is HOPE Credit Union’s Overdraft Guardian service?

HOPE Credit Union’s Overdraft Guardian service will cover you up to $300 (depending on the type of deposit account you’ve got) when you try to spend more than you’ve got. As long as you bring your account current the same day, you can use this once per month to avoid fees. 

How do I contact HOPE Credit Union customer service?

HOPE Credit Union customer service can be reached at 866-321-4673 from Monday to Friday between 8 a.m. and 5 p.m. Central Time. You can also send a message on the Contact page to request a follow-up email or call.