Desert Financial Credit Union Savings Certificate

Desert Financial Credit Union Savings Certificate Review

Desert Financial Credit Union Savings Certificate is offered by Desert Financial Credit Union, a credit union founded in 1939 and based in Phoenix, AZ. Desert Financial Credit Union Savings Certificate is available in 1 state across the USA.

• Very high APY. This account offers an annual percentage yield of up to 0.95%, which is much higher than the national average for a certificate account.
• $1,000 minimum deposit. This is a typical minimum initial deposit for the certificates we track.
• Wide selection of certificate terms. Desert Financial CD 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.

Are cd accounts from Desert Financial Credit Union federally insured?

Yes, your Desert Financial 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 Desert Financial Credit Union offer?

• 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 Desert Financial CD offers a CD that is specifically for retirement.

What CD rates does Desert Financial Credit Union offer on its CDs?

Desert Financial CD offers an APY starting at 0.35% and ranging up to 0.95%. 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 Desert Financial Credit Union?

Desert Financial CD requires a minimum deposit of $1,000 to open an account.

What is the grace period for Desert Financial CD?

There is a 10-day grace period for Desert Financial CD. 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 Desert Financial CD 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.

Desert Financial Credit Union does not charge an early withdrawal fee.