Members First Credit Union CD

Members First Credit Union CD Review

Members First Credit Union CD is offered by Members First Credit Union, a credit union founded in 1936 and based in Midland, MI. Members First Credit Union CD is available in 1 state across the USA.

Key Takeaways

• Only one CD account type available. Members First Credit Union CD only offers traditional CD accounts.
• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 1.02%, which is much higher than the national average for a certificate account.
• $1,000 minimum deposit. This is a typical minimum initial deposit for the certificates we track.
• Wide selection of certificate terms. Members First Credit Union 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 Members First Credit Union CD

Members First Credit Union CD FAQ

Are CDs from Members First Credit Union federally insured?

Yes, your Members First 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 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.

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

Members First Credit Union CD offers an APY starting at 0.25% and ranging up to 1.02%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.

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

Members First Credit Union CD requires a minimum deposit of $1,000 to open an account.

What is the grace period for Members First Credit Union CD?

Members First Credit Union CD 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 Credit Union 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.

Members First Credit Union charges an early withdrawal fee.

Members First Credit Union does charge any of the fees we track.