Last Updated: 04/18/2025
Cobalt Credit Union Bump Up IRA Certificate
Unaffiliated
in CD Accounts from Cobalt Credit Union
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
3.45% - 3.55%(Verified 06/21/2024)
Minimum Opening Deposit
$1,000
Certificate Term
3 years
Cobalt Credit Union Bump Up IRA Certificate Review
Cobalt Credit Union Bump Up IRA Certificate are offered by Cobalt Credit Union, a credit union founded in 1946 and based in Papillion, NE. Cobalt Credit Union Bump Up IRA Certificate are available in 50 states and Washington, DC.
Key Takeaways
- Small selection of CD account types. Cobalt Credit Union Bump Up IRA Certificate only offers bump up IRA and traditional CDs.
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 3.55%, which is much higher than the national average for a CD account.
- $1,000.00 minimum deposit. This is a typical minimum initial deposit for the CDs we track.
- Limited selection of CD terms. Cobalt Credit Union Bump Up IRA Certificate only offers one CD term. This limits your options when trying to set up a CD ladder.
Pros & Cons of Cobalt Credit Union Bump Up IRA Certificate
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Cobalt Credit Union Bump Up IRA Certificate FAQ
Are CD from Cobalt Credit Union federally insured?
No, your Cobalt Credit Union CD accounts are not insured by a federal insurance agency. This means that if Cobalt 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 Cobalt Credit Union offer?
Cobalt Credit Union Bump Up IRA Certificate provides the following types of CDs.- 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.
- 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.
- 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 Cobalt Credit Union Bump Up IRA Certificate offers a CD that is specifically for retirement.
What rates does Cobalt Credit Union offer on its CDs?
Cobalt Credit Union Bump Up IRA Certificate offers an APY starting at 3.45% and ranging up to 3.55%. APY stands for annual percentage yield and shows the interest rate paid by the CD 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 Cobalt Credit Union Bump Up IRA Certificate offer?
Cobalt Credit Union offers CD terms of the following lengths:| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Certificate Term | 3 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 3.45% - 3.55% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3-Year APY | 3.45% - 3.55% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum deposit to open a CD account with Cobalt Credit Union?
Cobalt Credit Union Bump Up IRA Certificate require a minimum deposit of $1,000.00 to open an account.
What is the grace period for Cobalt Credit Union Bump Up IRA Certificate?
There is a 7-day grace period for Cobalt Credit Union Bump Up IRA 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 7-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 Cobalt 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.
Cobalt Credit Union charges an early withdrawal fee.
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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 - 5:00PM
Saturday
Closed