Teachers Federal Credit Union Share Certificate Review

Teachers Federal Credit Union Share Certificate is offered by Teachers Federal Credit Union, a credit union founded in 1974 and based in Hauppauge, NY. Teachers Federal Credit Union Share Certificate is available in 50 states (and Washington, DC).

• Very high APY. This account offers an annual percentage yield of up to 0.85%, 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. Teachers 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.

Are cd accounts from Teachers Federal Credit Union federally insured?

Yes, your Teachers 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 Teachers Federal Credit Union offer?

• 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.
• Jumbo CDs. A jumbo CD requires a higher minimum balance than that required by traditional CDs. In exchange, jumbo CDs pay higher interest rates.
• IRA CDs. An IRA CD is a type of IRA that consists entirely of CDs. In general, you can invest in CDs in any IRA, but Teachers Federal Credit Union Share Certificate offers a CD that is specifically for retirement.

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

Teachers Federal Credit Union Share Certificate offers an APY starting at 0.35% and ranging up to 0.85%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.

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

Teachers Federal Credit Union Share Certificate requires a minimum deposit of $1,000 to open an account.

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

There is a 7-day grace period for Teachers Federal Credit Union Share Certificate. 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 7-day 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 Teachers Federal Credit Union Share Certificate 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.

Teachers Federal Credit Union does not charge an early withdrawal fee.