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  Members First Credit Union of Texas CD
Members First Credit Union of Texas CD Unaffiliated

Members First Credit Union of Texas CD

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Highlights
APY (Annual Percentage Yield) 0.15% - 0.351%
Minimum Opening Deposit Starting at $500
Certificate Term
  • 3 months
  • 6 months
  • 12 months
  • 2 years
  • 3 years
  • 4 years
  • 5 years

Members First Credit Union of Texas CD Review

Members First Credit Union of Texas CD are offered by Members First Credit Union - Texas, a credit union founded in 1938 and based in Corpus Christi, TX. Members First Credit Union of Texas CD are available in 1 state across the USA.

Key Takeaways

  • Only one share certificate type available. Members First Credit Union of Texas CD only offers traditional share certificate accounts.
  • Low APY. The maximum annual percentage yield for this account is only 0.351%.
  • $500 minimum deposit. This is a typical minimum initial deposit for the certificates we track.
  • Wide selection of certificate terms. Members First Credit Union of Texas 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 of Texas 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.
  • Does not offer an IRA CD.

Members First Credit Union of Texas CD FAQ

Are share certificates from Members First Credit Union - Texas 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 Members First Credit Union - Texas offer?

Members First Credit Union of Texas 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.

What rates does Members First Credit Union - Texas offer on its share certificates?

Members First Credit Union of Texas CD offers an APY starting at 0.15% and ranging up to 0.351%. APY stands for annual percentage yield and shows the interest rate paid by the share certificate after taking into account compounding.

What terms does Members First Credit Union of Texas CD offer?

Members First Credit Union - Texas offers share certificate terms of the following lengths:
Members First Credit Union of Texas CD Rates & Terms
Description
APY (Annual Percentage Yield) 0.15% - 0.351%
3-Month APY 0.15%
6-Month APY 0.15%
12-Month APY 0.2%
2-Year APY 0.2%
3-Year APY 0.2%
4-Year APY 0.25%
5-Year APY 0.351%

What is the minimum deposit to open a share certificate account with Members First Credit Union - Texas?

Members First Credit Union of Texas CD require a minimum deposit of $500 to open an account.

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

Members First Credit Union of Texas 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 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 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 Members First Credit Union - Texas 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.

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

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

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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.

Message From Members First Credit Union of Texas CD

Members First Credit Union is a member-owned, not-for-profit financial cooperative dedicated to meeting the financial needs of our members. We offer the credit union difference where members are owners and treated with an attitude and quality of service that says you come first. We follow the credit union philosophy of ‘not for profit, not for charity, but for service’. So, our profits stay in the credit union allowing us to pay better rates, lower fees, an improving line of products, and enhanced services.

Members First offers Certificates of Deposits that range in terms from 3 months to 60 months with a minimum balance of  $500 (Some CD's may have a lower opening deposit or minimum balance depending on the type of CD opened).  Our rates are some of the best around. Dividends are paid and compounded monthly and there are no maintenance fees.

Other CD Accounts by Members First Credit Union - Texas

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Availability

  Available in 1 state
Texas
Availabile in all of Texas

Feature Breakdown

Minimum Opening Deposit Starting at $500
APY (Annual Percentage Yield) 0.15% - 0.351%
3-Month APY 0.15%
6-Month APY 0.15%
12-Month APY 0.2%
2-Year APY 0.2%
3-Year APY 0.2%
4-Year APY 0.25%
5-Year APY 0.351%
Certificate Term
  • 3 months
  • 6 months
  • 12 months
  • 2 years
  • 3 years
  • 4 years
  • 5 years
CD Accounts Traditional

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