Bethpage Federal Credit Union Certificate Account

Bethpage Federal Credit Union Certificate Account Review

Bethpage Federal Credit Union Certificate Account are offered by Bethpage Federal Credit Union, a credit union founded in 1941 and based in Bethpage, NY. Bethpage Federal Credit Union Certificate Account are available in 50 states (and Washington, DC).

Key Takeaways

• Small selection of CD account types. Bethpage Federal Credit Union CD only offers IRA and traditional CDs.
• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 0.75%, which is much higher than the national average for a certificate account.
• Small minimum initial deposit. You only need $50 to open an account.
• Wide selection of certificate terms. Bethpage 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 Bethpage Federal Credit Union Certificate Account

Bethpage Federal Credit Union Certificate Account FAQ

Are CDs from Bethpage Federal Credit Union federally insured?

Yes, your Bethpage 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 Bethpage 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 Bethpage Federal Credit Union CD offers a CD that is specifically for retirement.

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

Bethpage Federal Credit Union CD offers an APY starting at 0.40% and ranging up to 0.75%. 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 Bethpage Federal Credit Union?

Bethpage Federal Credit Union CD requires a minimum deposit of $50 to open an account.

What is the grace period for Bethpage Federal Credit Union CD?

There is a 7-day grace period for Bethpage Federal Credit Union CD. 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 7-day 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 Bethpage 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.

Bethpage Federal Credit Union does not charge an early withdrawal fee.