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.

• Small selection of CD account types. Hudson Valley Credit Union Flex Rate Certificate Account only offers traditional and IRA CDs.
• Very high APY. This account offers an annual percentage yield of up to 1.84%, which is much higher than the national average for a CD account.
• $750 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit.
• Limited selection of CD terms. Hudson Valley Credit Union Flex Rate Certificate Account only offers one CD terms. This limits your options when trying to set up a CD ladder.

Are cd accounts from Hudson Valley Credit Union federally insured?

Yes, your Hudson Valley Credit Union cd accounts are insured up to $250,000 per person by the National Credit Union Share Insurance Fund (NCUSIF). Individual Retirement Accounts (IRA) are insured separately up to $250,000. 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 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.
• 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 Hudson Valley Credit Union Flex Rate Certificate Account 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?

Hudson Valley Credit Union Flex Rate Certificate Account requires a minimum deposit of $750 to open an account.

What is the grace period for Hudson Valley Credit Union Flex Rate Certificate Account?

There is a 10-day grace period for Hudson Valley Credit Union Flex Rate Certificate Account. 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 Hudson Valley Credit Union Flex Rate Certificate Account 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 does not charge an early withdrawal fee.