Last Updated: 04/18/2025
Y-12 Federal Credit Union Education IRA Share Certificates
Unaffiliated
in CD Accounts from Y-12 Federal Credit Union
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.10% - 0.75%(Verified 06/21/2024)
Minimum Opening Deposit
Starting at $500
Certificate Term
- 6 months
- 12 months
- 13 months
- 2 years
- 25 months
Y-12 Federal Credit Union Education IRA Share Certificates Review
Y-12 Federal Credit Union Education IRA Share Certificates are offered by Y-12 Federal Credit Union, a credit union founded in 1950 and based in Oak Ridge, TN. Y-12 Federal Credit Union Education IRA Share Certificates are available in 50 states and Washington, DC.
Key Takeaways
- Only one share certificate type available. Y-12 Federal Credit Union Education IRA Share Certificates only offers IRA share certificate accounts.
- Higher than average APY. Y-12 Federal Credit Union Education IRA Share Certificates has an annual percentage yield of up to 0.75%, which is higher than the national average for 3-month CDs.
- $500 minimum deposit. This is a typical minimum initial deposit for the certificates we track.
- Wide selection of certificate terms. Y-12 Federal Credit Union Education IRA Share Certificates 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 Y-12 Federal Credit Union Education IRA Share Certificates
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Y-12 Federal Credit Union Education IRA Share Certificates FAQ
Are share certificates from Y-12 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 Y-12 Federal Credit Union offer?
Y-12 Federal Credit Union Education IRA Share Certificates 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 Y-12 Federal Credit Union Education IRA Share Certificates offers a share certificate that is specifically for retirement.
What rates does Y-12 Federal Credit Union offer on its share certificates?
Y-12 Federal Credit Union Education IRA Share Certificates offers an APY starting at 0.10% and ranging up to 0.75%. APY stands for annual percentage yield and shows the interest rate paid by the share certificate after taking into account compounding.
What terms does Y-12 Federal Credit Union Education IRA Share Certificates offer?
Y-12 Federal Credit Union offers share certificate terms of the following lengths:| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Certificate Term |
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| 12-Month APY | 0.55% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 0.10% - 0.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 6-Month APY | 0.40% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2-Year APY | 0.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 13-Month APY | 0.10% - 0.20% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 25-month APY | 0.30% - 0.35% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum deposit to open a share certificate account with Y-12 Federal Credit Union?
Y-12 Federal Credit Union Education IRA Share Certificates require a minimum deposit of $500 to open an account.
What is the grace period for Y-12 Federal Credit Union Education IRA Share Certificates?
Y-12 Federal Credit Union Education IRA Share Certificates 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 Y-12 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.
Y-12 Federal Credit Union charges an early withdrawal fee.
Y-12 Federal Credit Union does charge any of the fees we track.
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Sunday
Closed
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9:00AM - 5:30PM
Tuesday
9:00AM - 5:30PM
Wednesday
9:00AM - 5:30PM
Thursday
9:00AM - 5:30PM
Friday
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Saturday
9:00AM - 12:00PM