Sea Air Federal Credit Union Share Certificate

Sea Air Federal Credit Union Share Certificate Review

Sea Air Federal Credit Union Share Certificate are offered by Sea Air Federal Credit Union, a credit union founded in 1952 and based in Seal Beach, CA. Sea Air Federal Credit Union Share Certificate are available in 1 state across the USA.

Key Takeaways

• Only one share certificate type available. Sea Air Federal Credit Union Share Certificate only offers traditional share certificate accounts.
• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 0.9%, 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. Sea Air Federal Credit Union Share Certificate 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 Sea Air Federal Credit Union Share Certificate

Sea Air Federal Credit Union Share Certificate FAQ

Are share certificates from Sea Air Federal 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 Sea Air Federal Credit Union offer?

• 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 Sea Air Federal Credit Union offer on its share certificates?

Sea Air Federal Credit Union Share Certificate offers an APY starting at 0.40% and ranging up to 0.9%. APY stands for annual percentage yield and shows the interest rate paid by the share certificate after taking into account compounding.

What is the minimum deposit to open a share certificate account with Sea Air Federal Credit Union?

Sea Air Federal Credit Union Share Certificate require a minimum deposit of $1,000 to open an account.

What is the grace period for Sea Air Federal Credit Union Share Certificate?

Sea Air Federal Credit Union Share Certificate 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 Sea Air Federal 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.

Sea Air Federal Credit Union does not charge an early withdrawal fee.

Sea Air Federal Credit Union does charge any of the fees we track.