Citizens Equity 1st CU My Save Certificate

Citizens Equity 1st CU My Save Certificate Review

Citizens Equity 1st CU My Save Certificate is offered by Citizens Equity First Credit Union, a credit union founded in 1937 and based in Peoria, IL. Citizens Equity 1st CU My Save Certificate is available in 2 states across the USA.

Key Takeaways

• Only one CD account type available. Citizens Equity 1st CU My Save Certificate only offers traditional CD accounts.
• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 0.25%, which is much higher than the national average for a certificate account.
• Small minimum initial deposit. You only need $5 to open an account.
• Limited selection of CD terms. Citizens Equity 1st CU My Save Certificate only offers one CD term. This limits your options when trying to set up a certificate ladder.

Pros & Cons of Citizens Equity 1st CU My Save Certificate

Citizens Equity 1st CU My Save 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 rolling over the CD for another term.

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

The CD rates for this account have an APY of0.25% (APY stands for annual percentage yield, rates may change).

What is the minimum deposit to open a CD account with Citizens Equity First Credit Union?

Citizens Equity 1st CU My Save Certificate requires a minimum deposit of $5 to open an account.

What is the grace period for Citizens Equity 1st CU My Save Certificate?

Citizens Equity 1st CU My Save 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 1st CU My Save 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 charges an early withdrawal fee.