VyStar Credit Union 18-Month Step-Up Certificate Review

VyStar Credit Union 18-Month Step-Up Certificate is offered by VyStar Credit Union, a credit union founded in 1952 and based in Jacksonville, FL. VyStar Credit Union 18-Month Step-Up Certificate is available in 1 state across the USA.

• Only one CD account type available. VyStar Credit Union 18-Month Step-Up Certificate only offers bump up CD accounts.
• Very high APY. This account offers an annual percentage yield of up to 0.60%, which is much higher than the national average for a CD account.
• $500 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit.
• Limited selection of CD terms. VyStar Credit Union 18-Month Step-Up Certificate only offers one CD terms. This limits your options when trying to set up a CD ladder.

Are cd accounts from VyStar Credit Union federally insured?

Yes, your VyStar Credit Union 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 VyStar 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.
• Bump-up CDs. Bump-up CDs allow you to increase the interest rate you earn on your savings if the going interest rates rise. These CDs are useful in a changing interest rate environment.

What CD rates does VyStar Credit Union offer on its CDs?

VyStar Credit Union 18-Month Step-Up Certificate offers an APY starting at 0.50% and ranging up to 0.60%. 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 VyStar Credit Union?

VyStar Credit Union 18-Month Step-Up Certificate requires a minimum deposit of $500 to open an account.

What is the grace period for VyStar Credit Union 18-Month Step-Up Certificate?

There is a 7-day grace period for VyStar Credit Union 18-Month Step-Up 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 VyStar Credit Union 18-Month Step-Up 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.

VyStar Credit Union does not charge an early withdrawal fee.