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  BMI Federal Credit Union Bump Certificate

BMI Federal Credit Union Bump Certificate

in CD Accounts from BMI Federal Credit Union · ncua

Unaffiliated

BMI Federal Credit Union Bump Certificate

Unaffiliated

in CD Accounts from BMI Federal Credit Union · Insured by NCUA

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Highlights
Minimum Opening Deposit Starting at $500
Certificate Term
  • 2 years
  • 3 years
APY (Annual Percentage Yield) 0.2% - 0.3%

BMI Federal Credit Union Bump Certificate Review

BMI Federal Credit Union Bump Certificate is offered by BMI Federal Credit Union, a credit union founded in 1936 and based in Dublin, OH. BMI Federal Credit Union Bump Certificate is available in 1 state across the USA.

Key Takeaways
  • Only one CD account type available. BMI Federal Credit Union Bump Certificate only offers bump up CD accounts.
  • Very high APY. This account offers an annual percentage yield of up to 0.3%, which is much higher than the national average for a certificate account.
  • $500 minimum deposit. This is a typical minimum initial deposit for the certificates we track.
  • Limited selection of CD terms. BMI Federal Credit Union Bump Certificate only offers two CD terms. This limits your options when trying to set up a certificate ladder.
Pros & Cons of BMI Federal Credit Union Bump Certificate
Pros Cons
  • Insured by NCUA.
  • High-dividend yield
  • No charge on incoming domestic or international wire transfers.
  • Only available in one state.
  • Poor selection of certificate terms.
  • There isn't a no-penalty certificate option.
  • Does not offer an IRA CD.
BMI Federal Credit Union Bump Certificate FAQ

Are cd accounts from BMI Federal Credit Union federally insured?

Yes, your BMI 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 BMI Federal Credit Union offer?

BMI Federal Credit Union Bump Certificate provides the following types of CDs.
  • Traditional CDs. These CDs pay a fixed interest rate i you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or rolling over the CD for another term.
  • Bump-up CDs. Bump-up CDs allow you to increase the interest rate you earn on your savings if the going interest rates rise. These CDs are useful in a changing interest rate environment.

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

BMI Federal Credit Union Bump Certificate offers an APY starting at 0.2% and ranging up to 0.3%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.

What terms does BMI Federal Credit Union Bump Certificate offer?

BMI Federal Credit Union offers CD terms of the following lengths:
BMI Federal Credit Union Bump Certificate Rates & Terms
Description
2-Year APY 0.2%
3-Year APY 0.3%
APY (Annual Percentage Yield) 0.2% - 0.3%

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

BMI Federal Credit Union Bump Certificate requires a minimum deposit of $500 to open an account.

What is the grace period for BMI Federal Credit Union Bump Certificate?

There is a 10-day grace period for BMI Federal Credit Union Bump Certificate. 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 10-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 BMI Federal Credit Union Bump Certificate 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.

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

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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.

Contact

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 - 6:00pm
  • Saturday 9:00am - 1:00pm

Other Services by BMI Federal Credit Union

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View all cd accounts offered by BMI Federal Credit Union

Availability

  Available in 1 state
Ohio
Availabile in all of Ohio

Feature Breakdown

Minimum Opening Deposit Starting at $500
2-Year APY 0.2%
3-Year APY 0.3%
APY (Annual Percentage Yield) 0.2% - 0.3%
CD Accounts Bump Up
Grace Period for Account Changes 10 days
Certificate Term
  • 2 years
  • 3 years

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