Affinity Plus FCU Basic Certificate Of Deposit

Affinity Plus FCU Basic Certificate Of Deposit Review

Affinity Plus FCU Basic Certificate Of Deposit are offered by Affinity Plus Federal Credit Union, a credit union founded in 1930 and based in Saint Paul, MN. Affinity Plus FCU Basic Certificate Of Deposit are available in 2 states across the USA.

Key Takeaways

• Only one CD account type available. Affinity Plus Federal Credit Union CD only offers traditional CD accounts.
• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 1.50%, which is much higher than the national average for a certificate account.
• Small minimum initial deposit. You only need $100 to open an account.
• Wide selection of certificate terms. Affinity Plus Federal Credit Union CD allows you to create a certificate ladder by spreading your cash across certificates with different terms. This combines the benefits of frequent access to funds and higher rates of return on your savings.

Pros & Cons of Affinity Plus FCU Basic Certificate Of Deposit

Affinity Plus FCU Basic Certificate Of Deposit FAQ

Are CDs from Affinity Plus Federal Credit Union federally insured?

Yes, your Affinity Plus Federal Credit Union CD accounts are insured up to $250,000 per share owner for each account ownership category. The National Credit Union Administration (NCUA), a federal agency, administers the insurance fund and regulates federally insured credit unions. The fund is backed by the full faith and credit of the U.S. Government.

What types of CDs does Affinity Plus Federal Credit Union offer?

• Traditional CDs. These CDs pay a fixed interest rate if you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or automatically renewing the CD for another term.

What CD rates does Affinity Plus Federal Credit Union offer on its CDs?

Affinity Plus Federal Credit Union CD offers an APY starting at 0.4% and ranging up to 1.50%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.

What is the minimum deposit to open a CD account with Affinity Plus Federal Credit Union?

Affinity Plus Federal Credit Union CD requires a minimum deposit of $100 to open an account.

What is the grace period for Affinity Plus Federal Credit Union CD?

Affinity Plus Federal Credit Union CD does not specify what their grace period is. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the grace period. Note that the new CD rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does Affinity Plus Federal Credit Union CD charge?

Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the CD term ends.

Affinity Plus Federal Credit Union does not charge an early withdrawal fee.

Affinity Plus Federal Credit Union does charge any of the fees we track.