Last Updated: 04/18/2025
Resource One CU IRA Certificates Account
Unaffiliated
in CD Accounts from Resource One Credit Union
Last Updated: 04/18/2025
No Reviews Yet
This product has no reviews yet. Help others by sharing your thoughts.
Be the first to rate
Cast Your Vote
Compare All CD Accounts
Filter & compare all your options in one place.
Highlights
APY (Annual Percentage Yield)
2.78% - 6.43%(Verified 06/21/2024)
Minimum Opening Deposit
Starting at $500
Certificate Term
- 3 months
- 6 months
- 12 months
- 2 years
- 3 years
- 4 years
- 5 years
Resource One CU IRA Certificates Account Review
Resource One CU IRA Certificates Account are offered by Resource One Credit Union, a credit union founded in 1936 and based in Dallas, TX. Resource One CU IRA Certificates Account are available in 50 states and Washington, DC.
Key Takeaways
- Only one share certificate type available. Resource One CU IRA Certificates Account only offers IRA share certificate accounts.
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 6.43%, 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. Resource One CU IRA Certificates Account 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 Resource One CU IRA Certificates Account
| Pros | Cons |
|
|
Resource One CU IRA Certificates Account FAQ
Are share certificates from Resource One 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 Resource One Credit Union offer?
Resource One CU IRA Certificates Account 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.
- IRA share certificates. An IRA share certificate is a type of IRA that consists entirely of share certificates. In general, you can invest in share certificates in any IRA, but Resource One CU IRA Certificates Account offers a share certificate that is specifically for retirement.
What rates does Resource One Credit Union offer on its share certificates?
Resource One CU IRA Certificates Account offers an APY starting at 2.78% and ranging up to 6.43%. 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 Resource One CU IRA Certificates Account offer?
Resource One Credit Union offers share certificate terms of the following lengths:| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Certificate Term |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3-Month APY | 2.78% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 12-Month APY | 6.43% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 2.78% - 6.43% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 6-Month APY | 3.30% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2-Year APY | 4.07% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3-Year APY | 4.23% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4-Year APY | 4.59% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 5-Year APY | 4.70% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum deposit to open a share certificate account with Resource One Credit Union?
Resource One CU IRA Certificates Account require a minimum deposit of $500 to open an account.
What is the grace period for Resource One CU IRA Certificates Account?
Resource One CU IRA Certificates Account 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 Resource One 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.
Resource One Credit Union charges an early withdrawal fee.
Resource One Credit Union does charge any of the fees we track.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
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.
Hours of Operation
Sunday
Closed
Monday
8:30AM - 5:30PM
Tuesday
8:30AM - 5:30PM
Wednesday
8:30AM - 5:30PM
Thursday
8:30AM - 5:30PM
Friday
8:30AM - 5:30PM
Saturday
9:00AM - 1:00PM