Last Updated: 04/18/2025
Solarity CU Certificate Special Account
Unaffiliated
in CD Accounts from Solarity Credit Union
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
5.05%(Verified 06/21/2024)
Minimum Opening Deposit
Starting at $10,000
Certificate Term
7 months
Solarity CU Certificate Special Account Review
Solarity CU Certificate Special Account are offered by Solarity Credit Union, a credit union founded in 2011 and based in Yakima, WA. Solarity CU Certificate Special Account are available in 50 states and Washington, DC.
Key Takeaways
- Small selection of CD account types. Solarity CU Certificate Special Account only offers bump up and traditional CDs.
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 5.05%, which is much higher than the national average for a certificate account.
- High minimum deposit. You must deposit a minimum of $10,000, which is high compared to most certificate accounts.
- Limited selection of share certificate terms. Solarity CU Certificate Special Account only offers one share certificate term. This limits your options when trying to set up a certificate ladder.
Pros & Cons of Solarity CU Certificate Special Account
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Solarity CU Certificate Special Account FAQ
Are share certificates from Solarity 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 Solarity Credit Union offer?
Solarity CU Certificate Special 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.
- Bump-up share certificates. Bump-up share certificates allow you to increase the interest rate you earn on your savings if the going interest rates rise. These share certificates are useful in a changing interest rate environment.
What rates does Solarity Credit Union offer on its share certificates?
The share certificate rates for this account have an APY of5.05% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only checking accounts, which is around 1.6% APY for 12-month CDs.
What terms does Solarity CU Certificate Special Account offer?
Solarity Credit Union offers share certificate terms of the following lengths:| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Certificate Term | 7 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 5.05% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 7-Month APY | 5.05% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum deposit to open a share certificate account with Solarity Credit Union?
Solarity CU Certificate Special Account require a minimum deposit of $10,000 to open an account.
What is the grace period for Solarity CU Certificate Special Account?
Solarity CU Certificate Special 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 Solarity 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.
Solarity Credit Union charges an early withdrawal fee.
Solarity Credit Union does charge any of the fees we track.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:30PM
Tuesday
9:00AM - 5:30PM
Wednesday
9:00AM - 5:30PM
Thursday
9:00AM - 5:30PM
Friday
9:00AM - 6:00PM
Saturday
9:00AM - 1:00PM