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Last Updated: 04/18/2025

G.A.P. Federal Credit Union IRA Certificates

in CD Accounts from G.A.P. Federal Credit Union

Last Updated: 04/18/2025

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Highlights

APY (Annual Percentage Yield)

3.00%(Verified 06/21/2024)

Minimum Opening Deposit

$500

Certificate Term

  • 12 months
  • 2 years
  • 3 years
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G.A.P. Federal Credit Union IRA Certificates Review

G.A.P. Federal Credit Union IRA Certificates are offered by G.A.P. Federal Credit Union, a credit union founded in 1937 and based in Johnstown, PA. G.A.P. Federal Credit Union IRA Certificates are available in 50 states and Washington, DC.

Key Takeaways

  • Only one share certificate type available. G.A.P. Federal Credit Union IRA Certificates only offers IRA share certificate accounts.
  • Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 3.00%, which is much higher than the national average for a certificate account.
  • $500.00 minimum deposit. This is a typical minimum initial deposit for the certificates we track.
  • Limited selection of share certificate terms. G.A.P. Federal Credit Union IRA Certificates only offers three share certificate terms. This limits your options when trying to set up a certificate ladder.

Pros & Cons of G.A.P. Federal Credit Union IRA Certificates

G.A.P. Federal Credit Union IRA Certificates FAQ

Are share certificates from G.A.P. Federal Credit Union federally insured?

Yes, your share certificates 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 is the difference between CDs and Share Certificates?

Certificates of Deposit (CDs) and Share Certificates are both deposit accounts where your money can grow at a fixed rate for a predetermined period of time. Both are low-risk and federally insured products designed to give you a better rate on your deposits than typical savings accounts. The main difference between them is that CDs are offered by for-profit banks, whereas Share Certificates are offered by member-owned, not-for-profit credit unions.

What types of share certificates does G.A.P. Federal Credit Union offer?

G.A.P. Federal Credit Union IRA Certificates provides the following types of share certificates.
  • Traditional share certificates. These share certificates 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 share certificate for another term.
  • IRA share certificates. An IRA share certificate is a type of IRA that consists entirely of share certificates. In general, you can invest in share certificates in any IRA, but G.A.P. Federal Credit Union IRA Certificates offers a share certificate that is specifically for retirement.

What rates does G.A.P. Federal Credit Union offer on its share certificates?

The share certificate rates for this account have an APY of3.00% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only checking accounts, which is around 1.6% APY for 12-month CDs.

What terms does G.A.P. Federal Credit Union IRA Certificates offer?

G.A.P. Federal Credit Union offers share certificate terms of the following lengths:

What is the minimum deposit to open a share certificate account with G.A.P. Federal Credit Union?

G.A.P. Federal Credit Union IRA Certificates require a minimum deposit of $500.00 to open an account.

What is the grace period for G.A.P. Federal Credit Union IRA Certificates?

G.A.P. Federal Credit Union IRA Certificates 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 share certificate without paying an early withdrawal penalty. A grace period starts the day after a share certificate’s maturity date, or the final day a share certificate is opened. Standard share certificates renew automatically at the same term if you don't withdraw your money after the grace period. Note that the new share certificate rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does G.A.P. Federal Credit Union charge?

Financial institutions don't typically charge many fees on share certificates. However, most charge a fee if you choose to withdraw your money before the term ends.
G.A.P. Federal Credit Union charges an early withdrawal fee.
G.A.P. Federal Credit Union does charge any of the fees we track.

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Contact

Headquarters

111 Franklin St
Room 224
Johnstown, PA 15901
(814) 535-4165
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Hours of Operation

Sunday
Closed
Monday
8:00AM - 4:30PM
Tuesday
8:00AM - 3:30PM
Wednesday
8:00AM - 4:30PM
Thursday
8:00AM - 4:30PM
Friday
8:00AM - 4:30PM
Saturday
Closed

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