Credit union · NCUA insured
IBEW Local 56 Federal Credit Union Savings Rates
IBEW Local 56 Federal Credit Union’s best savings rate is 0.30% APY on $10,000, with its Investment Shares. Rates checked October 16, 2026.
How IBEW Local 56 Federal Credit Union’s savings rates compare
Compared with banks and credit unions near Erie, PA, where IBEW Local 56 Federal Credit Union has the most branches. $10,000, best rate first.
This credit union’s best
IBEW Local 56 Federal Credit Union
0.30%APY
- Requires
- None
- Minimum
- —
- Earns on $10,000 a year
- $30
Regular Shares
Top rate
Northwest Bank
4.00%APY
- Requires
- None
- Minimum
- $1
- Earns on $10,000 a year
- $400
2nd-highest rate
Huntington Bank
3.25%APY
- Requires
- Another account
- Minimum
- $100
- Earns on $10,000 a year
- $325
IBEW Local 56 Federal Credit Union savings score
74
Savings score
Higher than 35% of U.S. banks and credit unions
- $1,000 balance$1,0000.30%
- $10,000 balance$10,0000.30%
- $100,000 balance$100,0000.30%
- QualifiedQualified0.30%
Each track runs from the lowest to the highest rate among U.S. banks and credit unions; the dot is this rate.Qualified: needs another account or monthly activity.
Where IBEW Local 56 Federal Credit Union ranks
By savings score, in each area where it has branches
Every rate
Current savings rates
Rates from the credit union’s website. Earnings assume the rate doesn’t change.
Investment Shares
0.30%APY
Can be used as a separate savings account. Deposits and withdrawals can be made at any time. Dividends are calculated daily and paid quarterly.
| BalanceRequirement | APY | Earns on $10,000 a yearEarns | Requirement |
|---|---|---|---|
| Any balanceDividends compounded quarterly.Any balance | 0.30% | $30 | Dividends compounded quarterly. |
Sources (2)
All captured Sep 17, 2026
Regular Shares
0.30%APY
Normal savings account representing share of ownership in the Credit Union. Deposits and withdrawals can be made at any time unless shares are pledged as collateral on a loan. Dividends are calculated daily and paid quarterly.
| BalanceRequirement | APY | Earns on $10,000 a yearEarns | Requirement |
|---|---|---|---|
| Any balanceDividends compounded quarterly.Any balance | 0.30% | $30 | Dividends compounded quarterly. |
Sources (2)
All captured Sep 17, 2026
Special-purpose accounts
Coverdell Education Savings Account
0.76%APY
Set up under the child's Social Security number to help pay higher education expenses. Maximum $2,000 aggregate contribution per year per child. Earnings and withdrawals are tax-free if used for qualified education expenses by age 30.
| Balance | APY | Earns on $10,000 a yearEarns | Requirement |
|---|---|---|---|
| Up to $10,000Compounded quarterly. | 0.76% | $76 | Compounded quarterly. |
| $10,000 – $50,000Compounded quarterly. | 0.78% | — | Compounded quarterly. |
| Over $50,000Compounded quarterly. | 0.81% | — | Compounded quarterly. |
Sources (2)
All captured Sep 17, 2026
Traditional & Roth IRA Shares
0.76%APY
Requires $25 minimum balance to open and earn dividends. $8.00 annual fee. Dividends calculated daily and paid quarterly. No credit union penalty for early withdrawal (10% Federal Penalty Tax applies). Maximum contribution $7,500/year (or $8,600 with catch-up for workers 50+) across Traditional and Roth IRAs.
| Balance | APY | Earns on $10,000 a yearEarns | Requirement |
|---|---|---|---|
| Up to $10,000Compounded quarterly. | 0.76% | $76 | Compounded quarterly. |
| $10,000 – $50,000Compounded quarterly. | 0.78% | — | Compounded quarterly. |
| Over $50,000Compounded quarterly. | 0.81% | — | Compounded quarterly. |
Sources (2)
All captured Sep 17, 2026
Christmas Shares
0.30%APY
Account can be started at any time during the year; deposits can be made for any amount at any time. Dividends are calculated daily and paid quarterly. Checks are sent out the first week of October unless a hold or transfer is requested. 1 emergency withdrawal permitted per year prior to October withdrawal; $2.00 fee charged for any other withdrawals.
| BalanceRequirement | APY | Earns on $10,000 a yearEarns | Requirement |
|---|---|---|---|
| Any balanceDividends compounded quarterly.Any balance | 0.30% | $30 | Dividends compounded quarterly. |
Sources (2)
All captured Sep 17, 2026
Holiday Shares
0.30%APY
Can be used as an extra savings account / escrow account to plan ahead for car insurance, property taxes, or tuition. Deposits and withdrawals can be made at any time. Dividends are calculated daily and paid quarterly.
| BalanceRequirement | APY | Earns on $10,000 a yearEarns | Requirement |
|---|---|---|---|
| Any balanceDividends compounded quarterly.Any balance | 0.30% | $30 | Dividends compounded quarterly. |
Sources (2)
All captured Sep 17, 2026
Vacation Shares
0.30%APY
Can be used as a separate savings account. Deposits and withdrawals can be made at any time. Dividends are calculated daily and paid quarterly.
| BalanceRequirement | APY | Earns on $10,000 a yearEarns | Requirement |
|---|---|---|---|
| Any balanceDividends compounded quarterly.Any balance | 0.30% | $30 | Dividends compounded quarterly. |
Sources (2)
All captured Sep 17, 2026
Who can join IBEW Local 56 Federal Credit Union
This may be incomplete or out of date, so check with the credit union before you apply.
Employers and groups
- Employees of I.B.E.W. Local #56, Stroehmann Bakery, Advanced Business Systems, Birkmire Transportation Services, Signal-Tech, Metro Health Center, Advanced Protection Services, A-1 Automotive, AAA West Penn/Erie County, Furman Enterprises, Inc., and West Erie County Democratic Committe are eligible for membership.
Family and household
- Family members (defined as spouse, children, parent, grandparent, grandchildren, sister, and brother) of a current member are eligible for membership.
Cost to join
- A $0.25 membership fee is required.
- A minimum balance of $25.00 is required within 6 months to maintain membership.
Membership information collected October 5, 2026.