Last Updated: 04/18/2025
Western Division FCU CD Special
Unaffiliated
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
5.82%(Verified 06/21/2024)
Minimum Opening Deposit
$5,000
Certificate Term
7 months
Western Division FCU CD Special Review
Western Division FCU CD Special are offered by Western Division Federal Credit Union, a credit union founded in 1937 and based in Williamsville, NY. Western Division FCU CD Special are available in 50 states and Washington, DC.
Key Takeaways
- Only one share certificate type available. Western Division FCU CD Special only offers traditional share certificate accounts.
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 5.82%, which is much higher than the national average for a certificate account.
- High minimum deposit. You must deposit a minimum of $5,000.00, which is high compared to most certificate accounts.
- Limited selection of share certificate terms. Western Division FCU CD Special only offers one share certificate term. This limits your options when trying to set up a certificate ladder.
Pros & Cons of Western Division FCU CD Special
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Western Division FCU CD Special FAQ
Are share certificates from Western Division 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 Western Division Federal Credit Union offer?
Western Division FCU CD Special 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.
What rates does Western Division Federal Credit Union offer on its share certificates?
The share certificate rates for this account have an APY of5.82% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only checking accounts, which is around 1.6% APY for 12-month CDs.
What terms does Western Division FCU CD Special offer?
Western Division Federal Credit Union offers share certificate terms of the following lengths:| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Certificate Term | 7 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 5.82% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 7-Month APY | 5.82% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum deposit to open a share certificate account with Western Division Federal Credit Union?
Western Division FCU CD Special require a minimum deposit of $5,000.00 to open an account.
What is the grace period for Western Division FCU CD Special?
There is a 10-day grace period for Western Division FCU CD Special. 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 10-day 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 Western Division 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.
Western Division Federal Credit Union charges an early withdrawal fee.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 4:00PM
Tuesday
9:00AM - 4:00PM
Wednesday
9:00AM - 4:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 5:00PM
Saturday
Closed