CD Accounts
2 more
Last Updated: 04/18/2025
BP Federal Credit Union Share Certificates
Unaffiliated
in CD Accounts from BP Federal Credit Union
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)
3.51% - 4.08%(Verified 06/21/2024)
Minimum Opening Deposit
$1,000
Certificate Term
- 3 months
- 6 months
- 9 months
- 12 months
- 2 years
- 3 years
- 4 years
- 5 years
BP Federal Credit Union Share Certificates Review
BP Federal Credit Union Share Certificates are offered by BP Federal Credit Union, a credit union founded in 1937 and based in Houston, TX. BP Federal Credit Union Share Certificates are available in 50 states and Washington, DC.
Key Takeaways
- Only one share certificate type available. BP Federal Credit Union Share Certificates only offers traditional share certificate accounts.
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 4.08%, which is much higher than the national average for a certificate account.
- $1,000.00 minimum deposit. This is a typical minimum initial deposit for the certificates we track.
- Wide selection of certificate terms. BP Federal Credit Union Share Certificates 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 BP Federal Credit Union Share Certificates
| Pros | Cons |
|
|
BP Federal Credit Union Share Certificates FAQ
Are share certificates from BP 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 BP Federal Credit Union offer?
BP Federal Credit Union Share Certificates 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 BP Federal Credit Union offer on its share certificates?
BP Federal Credit Union Share Certificates offers an APY starting at 3.51% and ranging up to 4.08%. APY stands for annual percentage yield and shows the interest rate paid by the share certificate after taking into account compounding. This is higher than the typical interest rate for online-only checking accounts, which is around 1% APY.
What terms does BP Federal Credit Union Share Certificates offer?
BP Federal Credit Union offers share certificate terms of the following lengths:| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Certificate Term |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3-Month APY | 3.87% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 12-Month APY | 3.51% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 3.51% - 4.08% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 6-Month APY | 3.97% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2-Year APY | 3.56% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3-Year APY | 3.61% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4-Year APY | 3.82% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 5-Year APY | 4.07% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 9-Month APY | 4.08% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum deposit to open a share certificate account with BP Federal Credit Union?
BP Federal Credit Union Share Certificates require a minimum deposit of $1,000.00 to open an account.
What is the grace period for BP Federal Credit Union Share Certificates?
There is a 5-day grace period for BP Federal Credit Union Share Certificates. 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 5-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 BP 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.
BP Federal Credit Union charges an early withdrawal fee.
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 - 4:00PM
Tuesday
9:00AM - 4:00PM
Wednesday
9:00AM - 4:00PM
Thursday
9:00AM - 4:00PM
Friday
9:00AM - 4:00PM
Saturday
Closed
Other Services by BP Federal Credit Union
Checking Accounts
Be the first to rate
Money Market Accounts
Be the first to rate
Savings Accounts
Be the first to rate
Credit Cards
Be the first to rate
SuperMoney Net Recommendation Score
This product has no reviews yet. Help others by sharing your thoughts.
0
-1000+100
No one recommends
Everyone recommends
BP Federal Credit Union Share Certificates Community Reviews
Would you recommend BP Federal Credit Union Share Certificates to your friends?
There are currently no reviews.
Other Services by BP Federal Credit Union
Checking Accounts
Be the first to rate
Money Market Accounts
Be the first to rate
Savings Accounts
Be the first to rate
Credit Cards
Be the first to rate
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