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  Members First Community Credit Union Certificates of Deposit

Members First Community Credit Union Certificates of Deposit

in CD Accounts from Members First Community Credit Union · ncua

Unaffiliated

Members First Community Credit Union Certificates of Deposit

Unaffiliated

in CD Accounts from Members First Community Credit Union · Insured by NCUA

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Highlights
Minimum Opening Deposit Starting at $25
Certificate Term
  • 6 months
  • 12 months
  • 2 years
APY (Annual Percentage Yield) 0.05% - 0.15%

Members First Community Credit Union Certificates of Deposit Review

Members First Community Credit Union Certificates of Deposit is offered by Members First Community Credit Union, a credit union founded in 1954 and based in Quincy, IL. Members First Community Credit Union Certificates of Deposit is available in 1 state across the USA.

Key Takeaways
  • Only one CD account type available. Members First Community Credit Union Certificates of Deposit only offers traditional CD accounts.
  • Very high APY. This account offers an annual percentage yield of up to 0.15%, which is much higher than the national average for a certificate account.
  • Small minimum initial deposit. You only need $25 to open an account.
  • Limited selection of CD terms. Members First Community Credit Union Certificates of Deposit only offers three CD terms. This limits your options when trying to set up a certificate ladder.
Pros & Cons of Members First Community Credit Union Certificates of Deposit
Pros Cons
  • Insured by NCUA.
  • 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.
  • Does not offer an IRA CD.
Members First Community Credit Union Certificates of Deposit FAQ

Are cd accounts from Members First Community Credit Union federally insured?

Yes, your Members First Community 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 Members First Community Credit Union offer?

Members First Community Credit Union Certificates of Deposit 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.

What CD rates does Members First Community Credit Union offer on its CDs?

Members First Community Credit Union Certificates of Deposit offers an APY starting at 0.05% and ranging up to 0.15%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.

What terms does Members First Community Credit Union Certificates of Deposit offer?

Members First Community Credit Union offers CD terms of the following lengths:
Members First Community Credit Union Certificates of Deposit Rates & Terms
Description
2-Year APY 0.15%
6-Month APY 0.05%
12-Month APY 0.1%
APY (Annual Percentage Yield) 0.05% - 0.15%

What is the minimum deposit to open a CD account with Members First Community Credit Union?

Members First Community Credit Union Certificates of Deposit requires a minimum deposit of $25 to open an account.

What is the grace period for Members First Community Credit Union Certificates of Deposit?

Members First Community Credit Union Certificates of Deposit does not specify what their grace period is. 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 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 Members First Community Credit Union Certificates of Deposit 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.

Members First Community Credit Union does not charge an early withdrawal fee.

Members First Community Credit Union does not seem to charge any of the fees we track.

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Availability

  Available in 1 state
Illinois
Availabile in all of Illinois

Feature Breakdown

Minimum Opening Deposit Starting at $25
2-Year APY 0.15%
6-Month APY 0.05%
12-Month APY 0.1%
APY (Annual Percentage Yield) 0.05% - 0.15%
CD Accounts Traditional
Certificate Term
  • 6 months
  • 12 months
  • 2 years

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