CD Accounts
2 more
Last Updated: 04/18/2025
No Reviews Yet
This product has no reviews yet. Help others by sharing your thoughts.
Be the first to rateExplore a similar product
Try this top product in CD Accounts
Barclays CD
Strongly recommended24 reviews
Compare All CD Accounts
Filter & compare all your options in one place.
Highlights
APY (Annual Percentage Yield)
1.00% - 5.10%(Verified 06/21/2024)
Minimum Opening Deposit
$500
Certificate Term
- 6 months
- 12 months
- 2 years
- 3 years
- 4 years
- 5 years
Allegan Credit Union CDs Review
Allegan Credit Union CDs are offered by Allegan Credit Union, a credit union founded in 1945 and based in Allegan, MI. Allegan Credit Union CDs are available in 50 states and Washington, DC.
Key Takeaways
- Only one share certificate type available. Allegan Credit Union CDs only offers traditional share certificate accounts.
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 5.10%, which is much higher than the national average for a certificate account.
- $500.00 minimum deposit. This is a typical minimum initial deposit for the certificates we track.
- Wide selection of certificate terms. Allegan Credit Union CDs 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 Allegan Credit Union CDs
| Pros | Cons |
|
|
Allegan Credit Union CDs FAQ
Are share certificates from Allegan Credit Union federally insured?
Yes, your share certificates 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 is the difference between CDs and Share Certificates?
Certificates of Deposit (CDs) and Share Certificates are both deposit accounts where your money can grow at a fixed rate for a predetermined period of time. Both are low-risk and federally insured products designed to give you a better rate on your deposits than typical savings accounts. The main difference between them is that CDs are offered by for-profit banks, whereas Share Certificates are offered by member-owned, not-for-profit credit unions.
What types of share certificates does Allegan Credit Union offer?
Allegan Credit Union CDs provides the following types of share certificates.- Traditional share certificates. These share certificates 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 share certificate for another term.
What rates does Allegan Credit Union offer on its share certificates?
Allegan Credit Union CDs offers an APY starting at 1.00% and ranging up to 5.10%. APY stands for annual percentage yield and shows the interest rate paid by the share certificate after taking into account compounding.
What terms does Allegan Credit Union CDs offer?
Allegan Credit Union offers share certificate terms of the following lengths:| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Certificate Term |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 12-Month APY | 5.10% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 1.00% - 5.10% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 6-Month APY | 1.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2-Year APY | 1.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3-Year APY | 1.85% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4-Year APY | 2.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 5-Year APY | 2.15% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum deposit to open a share certificate account with Allegan Credit Union?
Allegan Credit Union CDs require a minimum deposit of $500.00 to open an account.
What is the grace period for Allegan Credit Union CDs?
Allegan Credit Union CDs 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 share certificate without paying an early withdrawal penalty. A grace period starts the day after a share certificate’s maturity date, or the final day a share certificate is opened. Standard share certificates renew automatically at the same term if you don't withdraw your money after the grace period. Note that the new share certificate rates probably won’t be the same as the original.
What types of fees, such as early withdrawal penalties, does Allegan Credit Union charge?
Financial institutions don't typically charge many fees on share certificates. However, most charge a fee if you choose to withdraw your money before the term ends.
Allegan Credit Union charges an early withdrawal fee.
Allegan Credit Union does charge any of the fees we track.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
9:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 5:30PM
Saturday
9:00AM - 12:00PM
Other Services by Allegan Credit Union
SuperMoney Net Recommendation Score
This product has no reviews yet. Help others by sharing your thoughts.
0
-1000+100
No one recommends
Everyone recommends
Allegan Credit Union CDs Community Reviews
Would you recommend Allegan Credit Union CDs to your friends?
There are currently no reviews.
You might also like
Best CD Rates
SuperMoney
Checking vs. Savings Account: Which Do You Need?
Andrew Latham
APR vs. APY: What's the Difference?
Bryce Sanders
Where Is a Savings Bond Serial Number?
Emily Africa