Last Updated: 04/18/2025
Bank Fund Staff FCU Share Certificate Account
Unaffiliated
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.45% - 0.55%(Verified 06/21/2024)
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Minimum Opening Deposit
Starting at $1,000
Certificate Term
- 3 years
- 5 years
Bank Fund Staff FCU Share Certificate Account Review
Bank Fund Staff FCU Share Certificate Account are offered by Bank Fund Staff Federal Credit Union, a credit union founded in 1947 and based in Washington DC, DC. Bank Fund Staff Federal Credit Union CD are available in states and Washington, DC.
Key Takeaways
- Only one share certificate type available. Bank Fund Staff Federal Credit Union CD only offers bump up share certificate accounts.
- Low APY. The maximum annual percentage yield for this account is only 0.55%.
- $1,000 minimum deposit. This is a typical minimum initial deposit for the certificates we track.
- Limited selection of share certificate terms. Bank Fund Staff Federal Credit Union CD only offers two share certificate terms. This limits your options when trying to set up a certificate ladder.
Pros & Cons of Bank Fund Staff FCU Share Certificate Account
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Bank Fund Staff FCU Share Certificate Account FAQ
Are share certificates from Bank Fund Staff Federal 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 Bank Fund Staff Federal Credit Union offer?
Bank Fund Staff Federal Credit Union CD 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.
- Bump-up share certificates. Bump-up share certificates allow you to increase the interest rate you earn on your savings if the going interest rates rise. These share certificates are useful in a changing interest rate environment.
What rates does Bank Fund Staff Federal Credit Union offer on its share certificates?
Bank Fund Staff Federal Credit Union CD offers an APY starting at 0.45% and ranging up to 0.55%. APY stands for annual percentage yield and shows the interest rate paid by the share certificate after taking into account compounding.
What terms does Bank Fund Staff Federal Credit Union CD offer?
Bank Fund Staff Federal Credit Union offers share certificate terms of the following lengths:| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Certificate Term |
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| APY (Annual Percentage Yield) | 0.45% - 0.55% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3-Year APY | 0.45% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 5-Year APY | 0.55% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum deposit to open a share certificate account with Bank Fund Staff Federal Credit Union?
Bank Fund Staff Federal Credit Union CD require a minimum deposit of $1,000 to open an account.
What is the grace period for Bank Fund Staff Federal Credit Union CD?
There is a 7-day grace period for Bank Fund Staff Federal Credit Union CD. 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 7-day 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 Bank Fund Staff Federal 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.
Bank Fund Staff Federal Credit Union charges an early withdrawal fee.
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Hours of Operation
Sunday
Closed
Monday
8:30AM - 4:00PM
Tuesday
8:30AM - 4:00PM
Wednesday
8:30AM - 4:00PM
Thursday
8:30AM - 4:00PM
Friday
8:30AM - 4:00PM
Saturday
Closed