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  Consumers Credit Union Certificate

Consumers Credit Union Certificate

in CD Accounts from Consumers Credit Union · ncua

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Consumers Credit Union Certificate

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in CD Accounts from Consumers Credit Union · Insured by NCUA

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Highlights
Minimum Opening Deposit Starting at $250
Certificate Term
  • 3 months
  • 6 months
  • 12 months
  • 2 years
  • 3 years
  • 4 years
  • 5 years
  • 18 months
  • 15 months
  • 30 months
APY (Annual Percentage Yield) 0.35% - 0.90%

Consumers Credit Union Certificate Review

Consumers Credit Union Certificate is offered by Consumers Credit Union, a credit union founded in 1930 and based in Waukegan, IL. Consumers Credit Union Certificate is available in 1 state across the USA.

Key Takeaways
  • Very high APY. This account offers an annual percentage yield of up to 0.90%, which is much higher than the national average for a certificate account.
  • $250 minimum deposit. This is a typical minimum initial deposit for the certificates we track.
  • Wide selection of certificate terms. Consumers Credit Union 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 Consumers Credit Union Certificate
Pros Cons
  • Insured by NCUA.
  • Multiple certificate terms available.
  • High-dividend yield
  • No charge on incoming domestic or international wire transfers.
  • Only available in one state.
  • There isn't a no-penalty certificate option.
Consumers Credit Union Certificate FAQ

Are cd accounts from Consumers Credit Union federally insured?

Yes, your Consumers 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 Consumers Credit Union offer?

Consumers Credit Union Certificate provides the following types of CDs.
  • Traditional CDs. These CDs pay a fixed interest rate i 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.
  • Jumbo CDs. A jumbo CD requires a higher minimum balance than that required by traditional CDs. In exchange, jumbo CDs pay higher interest rates.
  • 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 Consumers Credit Union Certificate offers a CD that is specifically for retirement.

What CD rates does Consumers Credit Union offer on its CDs?

Consumers Credit Union Certificate offers an APY starting at 0.35% and ranging up to 0.90%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.

What terms does Consumers Credit Union Certificate offer?

Consumers Credit Union offers CD terms of the following lengths:
Consumers Credit Union Certificate Rates & Terms
Description
2-Year APY 0.50% - 0.60%
3-Month APY 0.35%
3-Year APY 0.60% - 0.80%
4-Year APY 0.65% - 0.85%
5-Year APY 0.70% - 0.90%
6-Month APY 0.40% - 0.45%
12-Month APY 0.45% - 0.55%
APY (Annual Percentage Yield) 0.35% - 0.90%

What is the minimum deposit to open a CD account with Consumers Credit Union?

Consumers Credit Union Certificate requires a minimum deposit of $250 to open an account.

What is the grace period for Consumers Credit Union Certificate?

There is a 10-day grace period for Consumers Credit Union 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 10-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 Consumers Credit Union 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.

Consumers Credit Union does not charge an early withdrawal fee.

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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.

Availability

  Available in 1 state
Illinois
Availabile in all of Illinois

Feature Breakdown

Minimum Opening Deposit Starting at $250
2-Year APY 0.50% - 0.60%
3-Month APY 0.35%
3-Year APY 0.60% - 0.80%
4-Year APY 0.65% - 0.85%
5-Year APY 0.70% - 0.90%
6-Month APY 0.40% - 0.45%
12-Month APY 0.45% - 0.55%
APY (Annual Percentage Yield) 0.35% - 0.90%
CD Accounts
  • Traditional
  • Jumbo
  • IRA
Grace Period for Account Changes 10 days
Certificate Term
  • 3 months
  • 6 months
  • 12 months
  • 2 years
  • 3 years
  • 4 years
  • 5 years
  • 18 months
  • 15 months
  • 30 months

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