Champion Credit Union CD Accounts

Champion Credit Union CD Accounts Review

Champion Credit Union CD Accounts are offered by champion credit union, a credit union founded in 1932 and based in Canton, NC. Champion Credit Union Share Certificate are available in 50 states (and Washington, DC).

Key Takeaways

• Small selection of CD account types. Champion Credit Union Share Certificate only offers IRA and traditional CDs.
• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 4.05%, which is much higher than the national average for a CD account.
• $1,000 minimum deposit. This is a typical minimum initial deposit for the CDs we track.
• Wide selection of CD terms. Champion Credit Union Share Certificate allows you to create a CD 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 Champion Credit Union CD Accounts

Champion Credit Union CD Accounts FAQ

Are CD from champion credit union federally insured?

No, your Champion Credit Union CD accounts are not insured by a federal insurance agency. This means that if Champion Credit Union were to fall into financial difficulties, your deposits are not covered by a government-backed insurance fund like the FDIC or NCUSIF.

What types of CDs does Champion 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 CDs 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 Champion Credit Union Share Certificate offers a CD that is specifically for retirement.

What rates does Champion Credit Union offer on its CDs?

Champion Credit Union Share Certificate offers an APY starting at 0.70% and ranging up to 4.05%. 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 Champion Credit Union?

Champion Credit Union Share Certificate require a minimum deposit of $1,000 to open an account.

What is the grace period for Champion Credit Union Share Certificate?

Champion Credit Union Share Certificate 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 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 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 Champion Credit Union 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 term ends.

Champion Credit Union does not charge an early withdrawal fee.

Champion Credit Union does charge any of the fees we track.