Citizens Equity First Credit Union Jumbo Certificate

Citizens Equity First Credit Union Jumbo Certificate Review

Citizens Equity First Credit Union Jumbo Certificate are offered by Citizens Equity First Credit Union, a credit union founded in 1937 and based in Peoria, IL. Citizens Equity First Credit Union Jumbo Certificate are available in 2 states across the USA.

Key Takeaways

• Only one CD account type available. Citizens Equity First Credit Union Jumbo Certificate only offers jumbo CD accounts.
• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 0.80%, which is much higher than the national average for a certificate account.
• High minimum deposit. You must deposit a minimum of $100,000, which is high compared to most certificate accounts.
• Wide selection of certificate terms. Citizens Equity First Credit Union Jumbo Certificate 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 Citizens Equity First Credit Union Jumbo Certificate

Citizens Equity First Credit Union Jumbo Certificate FAQ

Are CDs from Citizens Equity First Credit Union federally insured?

Yes, your Citizens Equity First 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 Citizens Equity First 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.
• Jumbo CDs. A jumbo CD requires a higher minimum balance than that required by traditional CDs. In exchange, jumbo CDs pay higher interest rates.

What CD rates does Citizens Equity First Credit Union offer on its CDs?

Citizens Equity First Credit Union Jumbo Certificate offers an APY starting at 0.15% and ranging up to 0.80%. 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 Citizens Equity First Credit Union?

Citizens Equity First Credit Union Jumbo Certificate requires a minimum deposit of $100,000 to open an account.

What is the grace period for Citizens Equity First Credit Union Jumbo Certificate?

Citizens Equity First Credit Union Jumbo 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 Citizens Equity First Credit Union Jumbo 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.

Citizens Equity First Credit Union does not charge an early withdrawal fee.

Citizens Equity First Credit Union does charge any of the fees we track.