SuperMoney
  MECU Regular CD
MECU Regular CD
in CD Accounts from MECU · Insured by NCUA
Unaffiliated

MECU Regular CD

Unaffiliated
in CD Accounts from MECU · Insured by NCUA
Not enough votes for recommendation

Not enough votes for recommendation

Cast your vote

Would you recommend MECU Regular CD to your friends?

Thanks for your vote!

You voted: May or may not recommend

Highlights
APY (Annual Percentage Yield) 0.20% - 0.65%
Minimum Opening Deposit Starting at $500
Certificate Term
  • 6 months
  • 9 months
  • 12 months
  • 18 months
  • 2 years
  • 3 years
  • 4 years
  • 5 years

MECU Regular CD Review

MECU Regular CD are offered by MECU, a credit union founded in 1936 and based in Baltimore, MD. MECU Regular CD are available in 1 state across the USA.

Key Takeaways

  • Small selection of CD account types. MECU CD only offers IRA and traditional CDs.
  • Low APY. The maximum annual percentage yield for this account is only 0.65%.
  • $500 minimum deposit. This is a typical minimum initial deposit for the certificates we track.
  • Wide selection of certificate terms. MECU 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.

Pros & Cons of MECU Regular CD

Pros Cons
  • Insured by NCUA.
  • Multiple certificate terms available.
  • High-dividend yield
  • Only available in one state.
  • There isn't a no-penalty certificate option.

MECU Regular CD FAQ

Are share certificates from MECU 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 MECU offer?

MECU 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 MECU CD offers a share certificate that is specifically for retirement.

What rates does MECU offer on its share certificates?

MECU CD offers an APY starting at 0.20% and ranging up to 0.65%. APY stands for annual percentage yield and shows the interest rate paid by the share certificate after taking into account compounding.

What terms does MECU CD offer?

MECU offers share certificate terms of the following lengths:
MECU Regular CD Rates & Terms
Description
APY (Annual Percentage Yield) 0.20% - 0.65%
6-Month APY 0.20%
12-Month APY 0.35%
2-Year APY 0.45%
3-Year APY 0.55%
4-Year APY 0.60%
5-Year APY 0.65%

What is the minimum deposit to open a share certificate account with MECU?

MECU CD require a minimum deposit of $500 to open an account.

What is the grace period for MECU CD?

There is a 7-day grace period for MECU 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 7-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 MECU 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.

MECU does not charge an early withdrawal fee.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From MECU CD

It's a great savings idea that keeps growing on you. A favorite pet. Baltimore crab cakes. A classic movie. Some things in life seem almost perfect. A MECU Certificate of Deposit fits the bill financially. After all, where else can you get higher interest rates than are offered by most savings account without risking one penny of your hard-earned money. One great CD feature is that you control the investment period. Bracing for next semester's tuition bill? Try a 6 month CD. Dreaming of a new car a few years down the road? Go for a 36-month CD. Or consider opening several certificates, with different terms, so you'll have money available whenever you need it. Banking with MECU Credit Union in Maryland means belonging to a local financial institution that invests in the Baltimore community and offers competitive rates on CDs and other savings accounts.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 8:30am - 4:30pm
  • Tuesday 8:30am - 4:30pm
  • Wednesday 8:30am - 4:30pm
  • Thursday 9:00am - 4:30pm
  • Friday 8:30am - 5:30pm
  • Saturday Closed

Other Services by MECU

Icon for CD Accounts
View all cd accounts offered by MECU

Other CD Accounts by MECU

Loading...

Availability

  Available in 1 state
Maryland
Availabile in all of Maryland

Feature Breakdown

Minimum Opening Deposit Starting at $500
APY (Annual Percentage Yield) 0.20% - 0.65%
6-Month APY 0.20%
12-Month APY 0.35%
2-Year APY 0.45%
3-Year APY 0.55%
4-Year APY 0.60%
5-Year APY 0.65%
Certificate Term
  • 6 months
  • 9 months
  • 12 months
  • 18 months
  • 2 years
  • 3 years
  • 4 years
  • 5 years
CD Accounts
  • Traditional
  • IRA
Grace Period for Account Changes 7 days

Be the first to rate

 

Would you recommend MECU Regular CD to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
(will require moderator approval)