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  MECU Regular CD

MECU Regular CD

in CD Accounts from MECU · ncua

Unaffiliated

MECU Regular CD

Unaffiliated

in CD Accounts from MECU · Insured by NCUA

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

MECU Regular CD Review

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

Key Takeaways
  • Small selection of CD account types. MECU CD only offers traditional and IRA CDs.
  • Very high APY. This account offers an annual percentage yield of up to 0.65%, which is much higher than the national average for a certificate account.
  • $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
  • No charge on incoming domestic or international wire transfers.
  • Only available in one state.
  • There isn't a no-penalty certificate option.
MECU Regular CD FAQ

Are cd accounts from MECU federally insured?

Yes, your MECU 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 MECU offer?

MECU CD provides the following types of CDs.
  • 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 MECU CD offers a CD that is specifically for retirement.

What CD rates does MECU offer on its CDs?

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 CD after taking into account compounding.

What terms does MECU CD offer?

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

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

MECU CD requires 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 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 7-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 MECU 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.

MECU does not charge an early withdrawal fee.

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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.

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

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Availability

  Available in 1 state
Maryland
Availabile in all of Maryland

Feature Breakdown

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

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