Last Updated: 04/18/2025
Radiant Credit Union Business Fixed-Rate Jumbo Share Certificates
Unaffiliated
in CD Accounts from Radiant Credit Union
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
3.98% - 4.13%(Verified 06/21/2024)
Minimum Opening Deposit
$50,000
Certificate Term
- 6 months
- 12 months
- 2 years
Radiant Credit Union Business Fixed-Rate Jumbo Share Certificates Review
Radiant Credit Union Business Fixed-Rate Jumbo Share Certificates are offered by Radiant Credit Union, a credit union founded in 1957 and based in Gainesville, FL. Radiant Credit Union Business Fixed-Rate Jumbo Share Certificates are available in 50 states and Washington, DC.
Key Takeaways
- Only one share certificate type available. Radiant Credit Union Business Fixed-Rate Jumbo Share Certificates only offers jumbo share certificate accounts.
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 4.13%, which is much higher than the national average for a certificate account.
- High minimum deposit. You must deposit a minimum of $50,000.00, which is high compared to most certificate accounts.
- Limited selection of share certificate terms. Radiant Credit Union Business Fixed-Rate Jumbo Share Certificates only offers three share certificate terms. This limits your options when trying to set up a certificate ladder.
Pros & Cons of Radiant Credit Union Business Fixed-Rate Jumbo Share Certificates
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Radiant Credit Union Business Fixed-Rate Jumbo Share Certificates FAQ
Are share certificates from Radiant Credit Union 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 Radiant Credit Union offer?
Radiant Credit Union Business Fixed-Rate Jumbo Share Certificates 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.
- Jumbo share certificates. A jumbo share certificate requires a higher minimum balance than that required by traditional share certificates. In exchange, jumbo share certificates pay higher interest rates.
What rates does Radiant Credit Union offer on its share certificates?
Radiant Credit Union Business Fixed-Rate Jumbo Share Certificates offers an APY starting at 3.98% and ranging up to 4.13%. APY stands for annual percentage yield and shows the interest rate paid by the share certificate after taking into account compounding. This is higher than the typical interest rate for online-only checking accounts, which is around 1% APY.
What terms does Radiant Credit Union Business Fixed-Rate Jumbo Share Certificates offer?
Radiant Credit Union offers share certificate terms of the following lengths:| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Certificate Term |
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| 12-Month APY | 4.08% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 3.98% - 4.13% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 6-Month APY | 4.13% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2-Year APY | 3.98% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum deposit to open a share certificate account with Radiant Credit Union?
Radiant Credit Union Business Fixed-Rate Jumbo Share Certificates require a minimum deposit of $50,000.00 to open an account.
What is the grace period for Radiant Credit Union Business Fixed-Rate Jumbo Share Certificates?
There is a 10-day grace period for Radiant Credit Union Business Fixed-Rate Jumbo Share Certificates. 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 10-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 Radiant Credit Union 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.
Radiant Credit Union charges an early withdrawal fee.
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Closed
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