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  State Farm Federal Credit Union Certificate

State Farm Federal Credit Union Certificate

in CD Accounts from State Farm Federal Credit Union · ncua

Unaffiliated

State Farm Federal Credit Union Certificate

Unaffiliated

in CD Accounts from State Farm Federal Credit Union · Insured by NCUA

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Highlights
Minimum Opening Deposit Starting at $5
Certificate Term N/A
APY (Annual Percentage Yield) 1.01%

State Farm Federal Credit Union Certificate Review

State Farm Federal Credit Union Certificate is offered by State Farm Federal Credit Union, a credit union founded in 1936 and based in Bloomington, IL. State Farm Federal Credit Union Certificate is available in 50 states (and Washington, DC).

Key Takeaways
  • Only one CD account type available. State Farm CD only offers traditional CD accounts.
  • Very high APY. This account offers an annual percentage yield of up to 1.01%, which is much higher than the national average for a certificate account.
  • Small minimum initial deposit. You only need $5 to open an account.
Pros & Cons of State Farm Federal Credit Union Certificate
Pros Cons
  • Insured by NCUA.
  • Available in all 50 states.
  • High-dividend yield
  • No charge on incoming domestic or international wire transfers.
  • There isn't a no-penalty certificate option.
  • Does not offer an IRA CD.
State Farm Federal Credit Union Certificate FAQ

Are cd accounts from State Farm Federal Credit Union federally insured?

Yes, your State Farm Federal Credit Union cd accounts 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 types of CDs does State Farm Federal Credit Union offer?

State Farm CD provides the following types of CDs.
  • Traditional CDs. These CDs pay a fixed interest rate i you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or rolling over the CD for another term.

What CD rates does State Farm Federal Credit Union offer on its CDs?

The CD rates for this account have an APY of1.01% (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% APY.

What is the minimum deposit to open a CD account with State Farm Federal Credit Union?

State Farm CD requires a minimum deposit of $5 to open an account.

What is the grace period for State Farm CD?

State Farm 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 CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the grace period. Note that the new CD rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does State Farm CD charge?

Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the CD term ends.

State Farm Federal Credit Union does not charge an early withdrawal fee.

State Farm Federal Credit Union does not seem to charge any of the fees we track.

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Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Minimum Opening Deposit Starting at $5
APY (Annual Percentage Yield) 1.01%
CD Accounts Traditional

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