Last Updated: 04/18/2025
Toledo Fire Fighters FCU IRA Savings Certificate
Unaffiliated
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
2.250% - 3.00%(Verified 06/21/2024)
Minimum Opening Deposit
$0
Certificate Term
- 6 months
- 12 months
- 2 years
- 3 years
Toledo Fire Fighters FCU IRA Savings Certificate Review
Toledo Fire Fighters FCU IRA Savings Certificate are offered by Toledo Fire Fighters Federal Credit Union, a credit union founded in 1940 and based in Toledo, OH. Toledo Fire Fighters FCU IRA Savings Certificate are available in 50 states and Washington, DC.
Key Takeaways
- Only one share certificate type available. Toledo Fire Fighters FCU IRA Savings Certificate only offers IRA share certificate accounts.
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 3.00%, which is much higher than the national average for a certificate account.
- No minimum initial deposit. There is no minimum balance required to open an account.
- Wide selection of certificate terms. Toledo Fire Fighters FCU IRA Savings 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 Toledo Fire Fighters FCU IRA Savings Certificate
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Toledo Fire Fighters FCU IRA Savings Certificate FAQ
Are share certificates from Toledo Fire Fighters 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 Toledo Fire Fighters Federal Credit Union offer?
Toledo Fire Fighters FCU IRA Savings Certificate 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 Toledo Fire Fighters FCU IRA Savings Certificate offers a share certificate that is specifically for retirement.
What rates does Toledo Fire Fighters Federal Credit Union offer on its share certificates?
Toledo Fire Fighters FCU IRA Savings Certificate offers an APY starting at 2.250% and ranging up to 3.00%. 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 Toledo Fire Fighters FCU IRA Savings Certificate offer?
Toledo Fire Fighters Federal Credit Union offers share certificate terms of the following lengths:| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Certificate Term |
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| 12-Month APY | 2.500% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 2.250% - 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 6-Month APY | 2.250% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2-Year APY | 2.750% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3-Year APY | 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum deposit to open a share certificate account with Toledo Fire Fighters Federal Credit Union?
Toledo Fire Fighters FCU IRA Savings Certificate does not require a minimum deposit.
What is the grace period for Toledo Fire Fighters FCU IRA Savings Certificate?
Toledo Fire Fighters FCU IRA Savings 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 Toledo Fire Fighters 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.
Toledo Fire Fighters Federal Credit Union charges an early withdrawal fee.
Toledo Fire Fighters Federal Credit Union does charge any of the fees we track.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 4:30PM
Tuesday
9:00AM - 4:30PM
Wednesday
9:00AM - 4:30PM
Thursday
9:00AM - 4:30PM
Friday
9:00AM - 4:30PM
Saturday
Closed