United Nations Federal Credit Union Bonus Rate Certificate Review

United Nations Federal Credit Union Bonus Rate Certificate is offered by United Nations FCU, a credit union founded in 1947 and based in Long Island City, NY. United Nations Federal Credit Union Bonus Rate Certificate is available in 50 states (and Washington, DC).

• Small selection of CD account types. United Nations Federal Credit Union CD only offers traditional and IRA CDs.
• Very high APY. This account offers an annual percentage yield of up to 1.25%, which is much higher than the national average for a CD account.
• High minimum deposit. You must deposit a minimum of $50,000, which is high compared to most CD accounts.
• Limited selection of CD terms. United Nations Federal Credit Union CD only offers three CD terms. This limits your options when trying to set up a CD ladder.

Are cd accounts from United Nations FCU federally insured?

Yes, your United Nations FCU cd accounts are insured up to $250,000 per person by the National Credit Union Share Insurance Fund (NCUSIF). Individual Retirement Accounts (IRA) are insured separately up to $250,000. 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 United Nations FCU 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.
• 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 United Nations Federal Credit Union CD offers a CD that is specifically for retirement.

What CD rates does United Nations FCU offer on its CDs?

United Nations Federal Credit Union CD offers an APY starting at 1.1% and ranging up to 1.25%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding. This is higher than the typical interest rate for online-only checking accounts, which is around 1% APY.

What is the minimum deposit to open a CD account with United Nations FCU?

United Nations Federal Credit Union CD requires a minimum deposit of $50,000 to open an account.

What is the grace period for United Nations Federal Credit Union CD?

There is a 10-day grace period for United Nations Federal Credit Union CD. 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 10-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 United Nations Federal Credit Union 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.

United Nations FCU does not charge an early withdrawal fee.