Hudson Valley Credit Union Flex Rate Certificate Account

Hudson Valley Credit Union Flex Rate Certificate Account Review

Hudson Valley Credit Union Flex Rate Certificate Account is offered by Hudson Valley Credit Union, a credit union founded in 1963 and based in Poughkeepsie, NY. Hudson Valley Credit Union Flex Rate Certificate Account is available in 1 state across the USA.

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 CD terms. HVFCU Flex CD only offers one CD term. This limits your options when trying to set up a certificate ladder.

Pros & Cons of Hudson Valley Credit Union Flex Rate Certificate Account

Hudson Valley Credit Union Flex Rate Certificate Account FAQ

Are CDs from Hudson Valley Credit Union federally insured?

Yes, your Hudson Valley 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 Hudson Valley Credit Union offer?

• 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 rolling over the CD for another term.
• 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 HVFCU Flex CD offers a CD that is specifically for retirement.

What CD rates does Hudson Valley Credit Union offer on its CDs?

The CD 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% APY.

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

HVFCU Flex CD requires 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 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 HVFCU Flex 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.

Hudson Valley Credit Union charges an early withdrawal fee.