Affinity Plus FCU Wahoo Certificate Of Deposit

Affinity Plus FCU Wahoo Certificate Of Deposit Review

Affinity Plus FCU Wahoo Certificate Of Deposit are offered by Affinity Federal Credit Union, a credit union founded in 1935 and based in Basking Ridge, NJ. Affinity Plus FCU Wahoo Certificate Of Deposit are available in 2 states across the USA.

Key Takeaways

• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 0.6%, which is much higher than the national average for a certificate account.
• No minimum initial deposit. There is no minimum balance required to open an account.
• Limited selection of CD terms. Affinity Plus Federal Credit Union Wahoo CD only offers one CD term. This limits your options when trying to set up a certificate ladder.

Pros & Cons of Affinity Plus FCU Wahoo Certificate Of Deposit

Affinity Plus FCU Wahoo Certificate Of Deposit FAQ

Are CDs from Affinity Federal Credit Union federally insured?

Yes, your Affinity 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 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.
• IRA CDs. An IRA CD is a type of IRA that consists entirely of CDs. In general, you can invest in CDs in any IRA, but Affinity Plus Federal Credit Union Wahoo CD offers a CD that is specifically for retirement.

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

The CD rates for this account have an APY of0.6% (APY stands for annual percentage yield, rates may change).

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

Affinity Plus Federal Credit Union Wahoo CD does not require a minimum deposit.

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

Affinity Plus Federal Credit Union Wahoo 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 Wahoo 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 Federal Credit Union charges an early withdrawal fee.

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