Last Updated: 04/18/2025
Hudson Valley Credit Union Flex Rate Certificate Account
Unaffiliated
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
1.84%(Verified 06/21/2024)
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Minimum Opening Deposit
Starting at $750
Certificate Term
12 months
Hudson Valley Credit Union Flex Rate Certificate Account Review
Hudson Valley Credit Union Flex Rate Certificate Account are offered by Hudson Valley Credit Union, a credit union founded in 1963 and based in Poughkeepsie, NY. HVFCU Flex CD are available in 1 state.
Key Takeaways
- Small selection of CD account types. HVFCU Flex CD only offers IRA and traditional CDs.
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 1.84%, which is much higher than the national average for a certificate account.
- $750 minimum deposit. This is a typical minimum initial deposit for the certificates we track.
- Limited selection of share certificate terms. HVFCU Flex CD only offers one share certificate term. This limits your options when trying to set up a certificate ladder.
Pros & Cons of Hudson Valley Credit Union Flex Rate Certificate Account
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Hudson Valley Credit Union Flex Rate Certificate Account FAQ
Are share certificates from Hudson Valley 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 Hudson Valley Credit Union offer?
HVFCU Flex CD 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 HVFCU Flex CD offers a share certificate that is specifically for retirement.
What rates does Hudson Valley Credit Union offer on its share certificates?
The share certificate rates for this account have an APY of1.84% (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 HVFCU Flex CD offer?
Hudson Valley Credit Union offers share certificate terms of the following lengths:| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Certificate Term | 12 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 12-Month APY | 1.84% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 1.84% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum deposit to open a share certificate account with Hudson Valley Credit Union?
HVFCU Flex CD require a minimum deposit of $750 to open an account.
What is the grace period for HVFCU Flex CD?
There is a 10-day grace period for HVFCU Flex CD. 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 10-day 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 Hudson Valley 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.
Hudson Valley Credit Union charges an early withdrawal fee.
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Hours of Operation
Sunday
Closed
Monday
8:30AM - 7:00PM
Tuesday
8:30AM - 7:00PM
Wednesday
8:30AM - 7:00PM
Thursday
8:30AM - 7:00PM
Friday
8:30AM - 7:00PM
Saturday
9:00AM - 5:00PM