APY GUY: Maximize Your Savings & Earnings

Lauren Graves

Citizens Access CD Rates – Now up to 5.00% APY!

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Fact Checked :
Updated

You’ve likely heard of Citizens Bank, the 15th largest bank in the U.S. by asset size, but you may not know of Citizens Access, its online-only division.

Citizens Access was launched in 2018 and comes with a separate suite of deposit products than that of its parent company, and the rates are far more competitive (see Citizens Bank CD rates here).

Although Citizens Access offers a number of products including mortgages and refinancing, student loan refinancing, and CDs and savings, for the purpose of this review, we just focus on their five CD (certificate of deposit) accounts that all beat the national average by a comfortable margin.

All of these accounts can be opened online in minutes. To see if they’re right for you, continue reading our review below.

Citizens Access CD Rates + Account Details

image credit: citizensaccess.com

Citizens Access offers online CDs with terms ranging from 1 to 5 years with a higher than average minimum deposit requirement of $5,000.

CD Rates

CD TermAPY
11 month liquid0.05%
1 year5.00%
2 year3.30%
3 year3.35%
4 year3.40%
5 year3.45%
APY = Annual Percentage Yield

To give these offers more context, the national average for a 12 month CD and a 5 year CD sit at just 1.54% APY and 1.37% APY, respectively, according to FDIC data.

That said, the top CD rates from online banks and nationally available credit unions are now topping 5.00% and 4.50% APY for the same respective terms.

The 11 month liquid CD allows for funds to be withdrawn at any time without penalty, but the yield is not competitive at this time.

Early Withdrawal Penalties and Grace Period

When your CD matures, you’ll have a 10 calendar-day grace period in which you may close out the account, change its term and/or deposit size. If nothing is done during this period, the CD will automatically renew into the same term at the going rate.

If you need access to the funds in your CD prior to its maturity date, you will incur an early withdrawal fee. This fee is based on your CD’s term. See fee structure below:

CD TermEarly Withdrawal Fee
12 months or less90 days’ interest
more than 12 months120 days’ interest

Compounding and Paying Interest

Interest on all Citizens Access CDs are compounded daily and credited back to your account monthly. Interest defaults to being deposited back into the certificate, but you can opt instead to have it transferred to an external bank account or your Citizens access online savings account (if applicable).

Citizens Access Banking Experience & Consumer Reviews

Citizens Bank has banks and ATMs across the country, but you will not be able to use these if you are a Citizens Access account holder. You have to handle ALL of your banking online.

Along with using their mobile friendly website, you can download their IOS app or Android app for further convenience on the go. Their IOS app has a 2.2 star rating out of 5, while their Android app has a 2.9 star rating out of 5.

To contact customer service, call (888) 201-6505 between the hours of 8AM and 10PM Monday through Friday, 9AM to 3PM on Saturday, and 10AM to 3PM on Sunday. Alternatively, you can send a secure message directly through the Citizens Access online portal. You should receive an answer to your inquiry within 24 business hours.

Georgia’s Own Credit Union CD Rates – Up to 4.75% APY!

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Fact Checked :
Updated

image credit: georgiasown.org

Georgia’s Own Credit Union is a regional credit union serving Georgians across the Peach State since it opened its doors in 1934.

This credit union is quite small on a national scale but it’s the third-largest credit union in the state of Georgia, with 23 branch locations in metro-Atlanta, Savannah, Augusta, and other cities. 

To join Georgia’s Own – should you decide that it would be a good fit for your long-term financial goals – you’ll need to meet their geography or employment-based membership requirements.

Georgia’s Own Credit Union is not open membership but there are a couple of eligibility loopholes you can use to qualify if you don’t meet the general criteria. We’ll cover this in our eligibility section further down in this article.

Curious how their NCUA-insured savings products stack up? Find out in our comprehensive review below.

Georgia’s Own Credit Union CD Rates + Account Details

Georgia’s Own CDs are federally insured by the NCUA (FDIC equivalent for credit unions) up to the maximum amount allowed of $250,000 per depositor. Joint accounts are covered up to $500,000.

Standard certificate accounts and bump rate certificate accounts, which Georgia’s Own calls “Own Your Rate CDs,” are available for purchase.

CD Rates

CD TermMinimum DepositAPY
6 month$5002.50%
1 year$5004.75%
13 Month Special$5004.00%
22 Month Own Your Rate$5002.50%
2 year$5003.00%
3 year$5003.25%
44 Month Own Your Rate$5003.50%
4 year$5003.75%
5 year$5004.00%
APY = Annual Percentage Yield

Please note that these standard CD rates can vary depending on balance, however at the present time they do not. Yields are consistent across all deposit amounts.

To put the offers above in perspective, the current national average for a 12 month certificate of deposit sits at just 1.49% and a 60 month CD sits at just 1.35% according to FDIC data.

13 month CD Special

This is Georgia’s Own Credit Union’s newest addition to their CD account offers. It holds the second highest rate of any of their deposits and automatically renews into a standard 12 month CD if nothing is done during the grace period.

Own Your Rate Savings Certificate (Bump Rate CD)

Bump rate CDs are also available at Georgia’s Own.

You’ll find these under the name of Own Your Rate Savings certificates and these require $500 to open just like their standard CDs.

These certificates come with 22 and 44 month terms that allow you to bump up your rate. You are allowed one bump for the 22 month term, and two for the 44 month term.

Remember, these products are only useful when rates are rising. If Georgia’s Own does not raise their deposit rates during the life of your CD, then the option becomes irrelevant. Also keep in mind Georgia’s Own will not notify of rate increases, so you’ll have to monitor these yourself while you bump CD is active.

Compounding and Crediting Interest

Interest is compounded and credited monthly or quarterly on 6 month, 1 year, 3 year, and 5 year CDs, but compounded and credited only quarterly on 2 year and 4 year CDs.

Early Withdrawal Penalties and Grace Period

  1. Early withdrawal from a term of 12 months or less will cost 90 days’ interest,
  2. from a term of 13-24 months will cost 180 days’ interest,
  3. from a term of 25-36 months will cost 270 days’ interest,
  4. from a term of 37-48 months will cost 360 days’ interest, and
  5. from a term of 49-60 months will cost 450 days’ interest.

The grace period within which you can make penalty-free withdrawals or deposits upon renewal is 10 days.

Georgia’s Own Credit Union Savings Accounts

There are 5 different savings account options to choose from with Georgia’s Own Credit Union. However, all of them provide the same yields currently. Your 5 options are:

  1. Primary Savings
  2. Holiday Savings
  3. Vacations Savings
  4. Club Savings
  5. Coindexter Club Savings

The Holiday and Vacation savings accounts allow you to automatically set money aside for those intended uses. The funds you save in these accounts are then automatically transferred to your primary account on November 1st and May 1st, respectively, so that the money is available when you need it for those events.

A Club savings account, on the other hand, lets you set aside money for unspecified uses but functions similarly to the Holiday and Vacation savings accounts.

A Coindexter Club savings account is geared towards children learning the value of saving. These can be opened by children up to 13 years old. When this account reaches a balance of $250, the primary account holder receives a free gift.

Interest is compounded and credited quarterly for all savings accounts.

Lookout For Potential Fees

Though technically called an inactive account fee, you’ll essentially be charged a monthly maintenance fee of $5 for every month that your account balance dips below $250. For every excessive withdrawal over the federally allowed limit of 6 per month, you’ll be charged $10.

Savings Rates

BalanceAPY
$5.00 – $49,9990.10%
$50,000 – $99,9990.15%
$100,000 +0.20%
APY = Annual Percentage Yield

A minimum opening deposit of just $5 is required to open any savings account with Georgia’s Own Credit Union, and any balance above $5 will earn interest.

The initial $5 that you deposit into the Primary savings account granted to you when you join is your share in the credit union, so you’ll need to make sure that that money stays there to keep your membership.

Georgia’s Own Credit Union Money Market Rates + Account Details

The money market rates offered by Georgia’s Own are more competitive than their savings products, but still lag the top rates held by online institutions.

Money Market Rates

BalanceAPY
$2,500 – $9,9990.50%
$10,000 – $24,9991.00%
$25,000 – $49,9991.25%
$50,000 – $99,9991.50%
$100k – $249,9992.00%
$250k – $499,9992.00%
$500k – $999,9992.00%
$1m +2.00%

To put these offers in perspective, the current national average for money market rates sits at just 0.54% APY nationally according to FDIC data.

Avoid a $10 monthly service fee and continue earning dividends by maintaining an average daily balance of $2,500 or more.

As with the savings accounts, for every excessive withdrawal over the federally allowed limit of 6 per month, you’ll be charged $10.

About Georgia’s Own Credit Union + Eligibility Requirements

Georgia’s Own Credit Union holds just shy of $2.5 million in total assets and has a net income of $21 million. 182,756 members bank with this credit union. There are 32 Georgia’s Own Credit Union branches, all of these located in Georgia. This institution also participates in co-op shared branching with other credit unions and shares over 85,000 surcharge-free ATMs across the country.

To be eligible to join Georgia’s Own, you’ll need to meet one of the following:

  1. be a resident of a qualifying Georgia county,
  2. a member of the Georgia’s Own Foundation,
  3. a Georgia resident and member of the Getting Ahead Association,
  4. a family member to someone that’s a Georgia’s Own member, or
  5. an employee/retiree of a qualifying company.
  6. Having ties to Georgia State University – whether you’re a former student, current student, or member of faculty or staff.

To become an Advocate with the Georgia’s Own Foundation you’ll need just $10 and anyone can join. This is the biggest loophole for non-Georgia residents to join.

To become a member of the Getting Ahead Association, you’ll need to be a Georgia resident and you can contact a Georgia’s Own representative for help joining.

Georgia’s Own has mobile banking apps available for download for Apple and Android mobile devices, and these are generally considered to be user-friendly and comprehensive based on customer reviews.

Final Thoughts

Georgia’s Own Credit Union is probably going to be best suited for individuals living in or around Georgia.

Their savings account rates are below the national average, however their money market rates and CD rates are becoming more competitive (albeit still behind the top yields found from online banks and other nationally available credit unions).

Patelco Credit Union CD Rates – Now up to 5.00% APY!

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Fact Checked :
Updated

Patelco Credit Union is the 22nd largest credit union in the country by asset size and it serves individuals throughout North America.

Founded in 1936, Patelco is headquartered in Dublin, California. A small town east of the San Francisco Bay.

This not-for-profit financial institution was originally created by a handful of Pacific Telephone and Telegraph Company (AT&T) employees in 1936 with just $50.

Today, it has 400,000 members across the country and over $9 billion in assets.

Just about anyone can join as membership is not limited to California residents and/or students as some blogs mention. If you don’t reside in California, Patelco will still grant you membership by first joining the Financial Fitness Association ($8 yearly membership). We discuss this in more detail further down the article.

Patelco Credit Union CD Rates + Details

image credit: patelco.org

Patelco Credit Union account balances of up to $250,00 are NCUA/NCUSIF insured (FDIC equivalent for credit unions). This credit union offers a standard range of share certificate products with pretty average rates.

CD Rates

CD TermAPY
3 – 5 months0.25%
6 – 11 months0.95%
12 – 17 months2.00%
18 – 23 months5.00%
24 – 35 months2.25%
36 – 47 months2.30%
48 – 59 months2.40%
60 months2.50%
APY = Annual Percentage Yield

To put the above offers in perspective, the current national average for 12 and 60 month CDs hovers around 1.49% and 1.35% APY, respectively, according to FDIC data.

That said, some of the top FDIC-insured online banks in the country are now offering over 5.00% and 4.75% APY for the same respective terms.

Compounding and Crediting Interest

Interest rates are compounded monthly. Dividends are paid monthly for terms of 12 months or more and paid at maturity for terms of less than 12 months.

A minimum deposit and average daily balance of $250 is required for Patelco certificate accounts to continue earning interest.

Grace Period and Early Withdrawal Fees

As is the case for most CDs, early withdrawal fees apply. If you remove money from a share certificate within six days of issuance, you will be charged 7 days interest. There is a 10 calendar day grace period in which you can make changes or add to a newly opened or renewed CD account.

Early Withdrawal Fees

  • Early withdrawals on terms of 47 months or less will incur a fee equal to whichever is less: the total dividends earned on the CD since issuance or 90 days interest.
  • Early withdrawals on terms of 48 months or longer will incur a fee equal to the total dividends earned since issuance or 180 days interest.

Patelco Credit Union Money Market Rates + Account Details

Patelco offers variable-rate money market accounts as well. These are tiered accounts that earn a blended APY based on balance.

So, if you deposit $10k, you’ll earn:

  • 2.00% APY on the first $2k,
  • 1.50% APY on the next $3k,
  • 1.00% APY on the remaining $5k.

This would give you an overall blended APY of: 1.35% on your $10,000 balance. You can use this calculator to find out what your blended APY will be on any given balance.

See table below for breakdown:

BalanceAPY
$0 – $2,0002.00%
$2,000.01 – $5,0001.50%
$5,000.01 – $10,0001.00%
$10,000.01 – $50,0000.25%
$50,000.01 – $100,0000.20%
$100,000.01 – $9,999,999.990.15%
APY = Annual Percentage Yield

To put these yields into perspective, the current national average sits at 0.54% APY according to the FDIC, however, there are some banks paying over 5.00% APY following the most recent rate Fed rate hike.

You may use three money market checks per month, and these are provided free to all members. Up to six transactions are permitted per month. Unlike accounts of this type offered by most credit unions, there is no minimum balance required to earn interest. Dividends are both compounded and paid monthly.

Other Savings Accounts Offered by Patelco Credit Union

A deposit of $1 is all it takes to open a regular savings account, the tiered savings account that you get when you become a Patelco member. Dividends on such accounts are compounded and paid monthly. The APY rate for a savings account of any balance—whether $0 or $100,000—is 0.05%. This low rate is not abnormal for savings accounts, but it is below average. The average APY today is 0.10%.

Patelco Health Savings Account Rates:

BalanceAPY
$00.05%
$2,000.010.10%
$3,500.010.25%

You’ll be able to maximize your money more effectively with a health savings account rather than a standard Patelco savings account, but these funds can, of course, only be used for healthcare expenses.

Avoid a $5 monthly account maintenance fee by keeping a $150 balance across all of your accounts. Withdrawals from a regular savings account are limited to six per month. If you violate this limit, Patelco reserves the right to close your account and transfer your funds to another account or charge you $28 per excessive transaction. 

Patelco offers a youth savings account option to teens between the ages of 13 and 17. This account is essentially the same as the regular tiered savings account and has a 0.05% APY across all balance tiers, except that the required $1 deposit is covered by Patelco and all transactions must be done in person at a Patelco branch.

You’ll also want to hear about the Patelco Holiday Club, a savings account that helps you save for the holidays. This account requires an opening deposit and balance of $20 and an automatic deposit of $20 every month from another account. A Holiday Club savings account matures on November 15th and dividends are credited at maturity to your checking or savings account of choice. Because the APY for this is still only 0.05%, it won’t save you any more money.

About Patelco Credit Union + Eligibility

There are only 37 designated Patelco branches spread out across Northern California, but there are 6,000 shared branches and 30,000 surcharge-free ATMs throughout the country on top of that. You can search for Patelco branches, Patelco Saturday branches, shared branches, ATMs, and Deposit ATMs with this location tool. Co-op branches and ATMs let members do essential banking anywhere in the country. You can also download the Patelco Mobile Banking app or manage your money online.

To join Patelco, fill out an application or give the membership team a call at (888) 386-1031. You can become a member if: 

  1. You live in certain counties (see below)
  2. You live, work, attend school, or worship in certain cities (see below)
  3. You work for or are retired from one of over 1,100 Patelco Select Employer Groups (search these here)
  4. You are a student at University of California Berkeley, San Francisco State University, or California State University East Bay or
  5. An immediate family member qualifies

Eligible California counties include:

  • Alameda
  • Contra Costa
  • El Dorado
  • Marin
  • Merced
  • Napa
  • Placer
  • Sacramento
  • San Francisco
  • San Joaquin
  • San Mateo
  • Santa Clara
  • Solano
  • Sonoma
  • Stanislaus and
  • Yolo

Eligible California cities include:

  • Bakersfield
  • Eureka
  • McKinleyville and
  • Santa Cruz

If you don’t meet any of the above qualifications, all you have to do to join is become a member of the Financial Fitness Association, a mutual-benefit nonprofit that grows its members’ financial literacy by teaching various strategies and skills related to personal finance. If you do this, you will receive one year of membership for free (otherwise $8) and do not have to renew it to maintain your Patelco membership.

Right now, Patelco is offering special support to members that demonstrate financial need. Give them a call if you have experienced an income reduction or need a loan or credit line increase, or if you just have questions about how the economy is changing.

Delta Community Credit Union CD Rates – Up to 4.70% APY!

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Fact Checked :
Updated

image credit: deltacommunitycu.com

Delta Community Credit Union was founded in 1940 as a credit union for people working for Delta Air Lines. Today, many Delta employees are still members, but membership has been expanded to select members of the general population and residents of Georgia. There are over 430,000 members of Delta Community Credit Union today.

This credit union offers fairly competitive rates on various deposit accounts with a few more benefits—like ATM cards for MMAs and the option to add teens as joint owners—than you’ll find at other banks and credit unions.

Because this is a credit union, you need to become a member in order to open an account and access these rates.

You are eligible to join if you live in a qualifying Georgia community, are currently or formerly employed by a partner corporation (e.g. UPS, PetSmart, Enterprise, Delta Air Lines, etc.), are a member of a partner association, or are related to someone who is a member of Delta Community. View the complete list of membership eligibility requirements. You can manage your accounts online through the online banking portal, in-person at a branch in Georgia, or some combination of both.

Keep reading for our complete review of Delta Community Credit Union deposit products.

Delta Community Credit Union CD Rates + Account Details

This credit union offers standard CDs with terms ranging from 6 to 60 months. A minimum deposit of $1,000 is required to open a CD.

CD Rates

Term LengthInterest RateAPY
6 months1.98%2.00%
12 months4.45%4.55%
24 months4.60%4.70%
36 months4.17%4.25%
60 months4.17%4.25%
APY = Annual Percentage Yield

To put these yields in perspective, the current national average for 12 and 60 month CDs sit at 1.49% and 1.35% APY, respectively, according to recent FDIC data.

Delta Community Credit Union beats that and many big traditional banks, but these rates aren’t fantastic when you compare them to many digital banks.

Compounding and Crediting Interest

Interest compounds monthly and can be credited to the original certificate or to another checking or savings account (even an MMA). You can specify where you want your earnings to be deposited when you open the account or any time after by contacting the credit union.

This certificate of deposit account is more flexible than most. Delta Community Credit Union permits users to add money to their CD accounts after opening, which is not typical of certificate accounts, without penalty. Users are also able to add joint owners and beneficiaries to this account at any time after opening it. Minors are eligible to be added as joint owners.

All CDs are insured through the NCUA. Delta Community does not offer fixed-rate, specialty, bump-up, or other non-traditional CDs.

Early Withdrawal Penalties

Delta Community has changed its early withdrawal policy since 2017, so CDs opened/renewed before May 2017 incur different early withdrawal penalties than CDs opened later.

Here are the rules for CDs opened or renewed before May 1st, 2017:

  • Early withdrawals from terms of six months incur a penalty fee equal to 31 days’ interest
  • Early withdrawals from terms of 12 or 24 months incur a penalty fee equal to 90 days’ interest
  • Early withdrawals from terms of 36 of 60 months incur a penalty fee equal to 180 days’ interest

And the rules for CDs opened or renewed after May 1st, 2017:

  • Early withdrawals from terms of 6 months incur a penalty fee equal to 60 days’ interest
  • Early withdrawals from terms of 12 months incur a penalty fee equal to 90 days’ interest
  • Early withdrawals from terms of 24 or 36 months incur a penalty fee equal to 180 days’ interest
  • Early withdrawals from terms of 60 months incur a penalty fee equal to 270 days’ interest

The current fees are still actually lower than average.

Grace Period

Delta Community Credit Union provides a standard 10-day grace period to withdraw funds from a certificate account upon maturity without penalty. Partial withdrawals are not permitted. The grace period starts the day after your CD reaches maturity. You will be notified 30 days in advance of when your CD is set to mature.

You can specify whether you’d like your account to automatically renew upon maturity or the funds deposited into another account at any time between opening the account and the grace period begins.

Delta Community Credit Union Savings Accounts

There are a number of different savings accounts available through Delta Community:

  • Personal Savings,
  • Youth Savings,
  • IRA Savings,
  • Education Savings, and
  • Health Savings.

Personal Savings Account

The Personal Savings account earns interest at a rate of 0.20%. This interest rate is now lower than the national average rate for a savings account, which sits at 0.37%.

You can open this account with as little as $5 and you will earn the 0.20% interest rate as long as you have a positive balance in your account.

The Personal Savings account can be opened by an adult on behalf of a minor as well. The minor must be related to a member by birth, marriage, or adoption.

Once you have opened a Personal Savings account, you have the option of opening one or more Additional Savings accounts for different savings purposes. These accounts do not have minimum opening deposit requirements and earn the same interest rate as your Personal Savings account.

There is no monthly service fee or fee for low balances, but there are a few other fees. For example, you will be charged an inactivity fee of $5 every month if you do not make any transactions into or out of this account in six months. Every returned item will cost you $15 and every non-sufficient funds presentment will cost you $35.

Youth Savings Account

The Youth Savings account is available to children between the ages of 0 and 12. It earns the same interest rate as the Personal Savings account of 0.20% currently. Those younger than six are referred to as “Sandy Savers” and those between 7 and 12 years old are referred to as “Cool Cash Kids.” All new users receive a welcome package. 

A $5 membership deposit is required when you open this account, which you can do at any Delta Community Credit Union location. Any member of the credit union can open a savings account for a child, niece, grandchild, cousin, niece, or nephew.

HSA and Education Savings

An HSA at this credit union earns a rate of between 0.45% and 0.85%.

BalanceAPY
$0 – $499.990.45%
$500 – 9,999.990.45%
$10,000 – 24,999.990.50%
$25,000 – 49,999.990.60%
$50,000 – 99,999.990.80%
$100,000+0.85%
APY = Annual Percentage Yield

There is no minimum opening deposit or minimum monthly balance for an HSA.

Delta Community Credit Union Checking Accounts

Delta Community Credit Union offers a personal checking account that is available to adult members and teens (who are eligible to become joint account owners). This is technically an interest-bearing account, but the rate is so low this might as well be a traditional non-interest-bearing account.

BalanceInterest RateAPY
$0.01 – 4,999.990.00%0.00%
$5,000 – 24,999.990.01%0.01%
$25,000+0.02%0.02%
APY = Annual Percentage Yield

The national average for an interest checking account sits at just 0.06% APY, so these rates are actually worse than average (which isn’t something we see often) and definitely a lot worse than the best checking accounts out there.

There is no minimum opening deposit requirement or balance requirement to avoid fees. You are only eligible to receive interest on balances over $5,000. 

Interest is compounded and credited monthly to your checking account. 

You can enroll in Courtesy Pay (fees apply) to protect yourself from overdrawing on transactions up to $500. This service is optional.

This account comes with a Visa debit card that is eligible to earn up to one point on every $3 spent when you sign for qualifying transactions instead of using your PIN. You must enroll in Reward Points to access this feature.

Teens who are 16 or 17 years old are eligible to open this account with a member of the credit union as a joint account owner. They will have access to all the same features and benefits as well as the Visa Personal Debit Card.

Fees

This is a free account that doesn’t charge any maintenance or service fees, but you’ll want to avoid getting charged for the following:

  • Overdraft transfer from deposit account: $3
  • Overdraft transfer from credit account: $5
  • Non-sufficient funds: $35
  • Courtesy pay: $35
  • Domestic returned deposit item: $15

If your combined account balance across all deposit and borrowing accounts drops below $60 and you have not made transactions into or out of your account in six months, Delta might charge an inactivity fee.

Delta Community Credit Union Money Market Accounts

You can open a money market account with Delta Community Credit Union with $1,000.

BalanceInterest RateAPY
$1,000 – 9,999.990.45%0.45%
$10,000 – 24,999.990.50%0.50%
$25,000 – 49,999.990.60%0.60%
$50,000 – 99,999.990.80%0.80%
$100,000+0.85%0.85%
APY = Annual Percentage Yield

The national average rate for a money market account is currently sitting at 0.54%. That said some of the top online banks are now offering over 5.00% APY for online savings accounts and money market accounts.

Interest is compounded and credited monthly into the MMA. If you want it paid elsewhere, you can let a representative at the credit union know.

You need to maintain a balance of $1,000 in order to earn interest. Delta does not require a minimum opening deposit and does not charge service or maintenance fees.

This money market account comes with a free ATM card that can be used to make ATM withdrawals only, not POS transactions. You can make up to ten transactions per month with this account. This account can also be used to write checks, though these are not free.

There is also a business money market account available. You can make up to 25 transactions from this account per statement period not including your deposits.

BalanceInterest RateAPY
$0.01 – $24,999.990.75%0.75%
$25k – $99,999.991.00%1.00%
$100k – $499,999.991.49%1.50%
$500k – $999,999.991.83%1.85%
$1m +1.93%1.95%
APY = Annual Percentage Yield

Any positive balance in a business MMAs earn interest, which is compounded and credited monthly.

All Delta money market accounts are federally insured by the NCUA up to $250,000.

Alliant Credit Union CD Rates – Now up to 5.05% APY!

Written by:
Fact Checked :
Updated

Alliant Credit Union is the 8th largest credit union in the country and the largest credit union in Illinois. This institution was established in 1935 by 146 United Airline employees under the name the United Airlines Employees’ Credit Union. Headquartered in Chicago ever since and now called Alliant, the financial cooperative serves 450,000 members nationwide today.

Alliant is not only large, but it’s also impressively decorated with various awards including “MONEY’s Best Credit Union of 2019,” “Bankrate Best Credit Union of 2019,” and “Nerdwallet Best Banks 2019.” There are many ways to become an Alliant member and take advantage of good CD rates and superb savings options.

Alliant Credit Union CD Rates + Details

image credit: alliantcreditunion.org

Alliant Credit Union offers 8 standard CDs (certificates of deposit) with terms ranging from 3 months to 5 years as well as 8 Jumbo CDs with the same range of terms but a higher minimum deposit requirement.

All of Alliant Credit Union’s standard CDs come with a minimum deposit requirement of $1,000 and their jumbo CDs require a minimum deposit of $75,000.

Alliant Credit Union CDs are federally insured by the NCUA (FDIC equivalent for credit unions) up to $250,000.

CD Rates

CD TermAPY
3 months4.50%
3 month jumbo4.50%
6 months4.75%
6 month jumbo4.75%
12 months5.00%
12 month jumbo5.05%
18 months4.50%
18 month jumbo4.60%
24 months4.45%
24 month jumbo4.55%
48 months4.30%
48 month jumbo4.30%
60 months4.35%
60 month jumbo4.35%
APY = Annual Percentage Yield

To put these yields into perspective, the national average for a 12 month CD and a 60 month CD sit at just 1.49% APY and 1.35% APY, respectively, according to FDIC data.

That said, some online bank CDs and other nationally available credit unions are starting to offer more than 5.00% and 4.75% APY for the same respective terms.

Compounding and Crediting Interest

Interest is both compounded and credited back to the deposit account monthly.

Grace Period and Early Withdrawal Penalties

Upon the maturity of your Alliant Credit Union CD, you are provided a 7-day “grace period” in which you may modify your CD or close it out. If nothing is done during this 7 day window your CD will automatically renew with the same term and the going APY at that time.

If you need funds from your CD prior to its maturity you will incur an early withdrawal fee. Early withdrawal fees are as follows:

CD Maturity PeriodsFee
12 – 17 monthsNumber of days’ interest since issuance up to 90 days
18 – 23 monthsNumber of days’ interest since issuance up to 120 days
24 – 48 or 60 monthsNumber of days’ interest since issuance up to 180 days

If you have a 24 month certificate and have to withdraw after 120 days of opening, for example, you will be charged 120 days’ interest—the total interest your account would have earned—but still receive your initial principal in full.

How to Open a CD

Opening an Alliant credit union certificate account is fairly simple and there are four ways to do it:

  1. Online
  2. Call (800) 328-1935
  3. Mail in a ​certificate application
  4. In person at the Alliant branch

Other Savings Accounts Offered By Alliant Credit Union

Alliant Credit Union has three different savings accounts:

  1. high-rate savings account,
  2. supplemental savings account, and
  3. kids savings account.
Savings Account NameAPY
High Rate Savings Account3.10%
Supplemental Savings Account3.10%
Kids Savings Account3.10%
APY = Annual Percentage Yield

The ​high-rate savings account​ is your share in Alliant and is opened automatically when you become an Alliant member.

A high-rate savings account requires a minimum opening deposit of just $5—which Alliant pays for you—and a minimum average daily balance of $100 to earn interest. Withdrawals from this account, which must be pre-authorized, may not exceed six per month, per savings account. There are no monthly fees when you elect for eStatements and no maximum balance limits. Paper account statements cost $1 each.

There is no real difference between a high-rate savings account and a supplemental savings account other than that supplemental savings accounts are in addition to the required high-rate savings account. A supplemental savings account also earns an APY of 3.10% and needs an average daily balance of $100 to accrue interest. You may open up to 19 supplemental savings accounts.

One nice perk of Alliant savings accounts is that they come with Alliant Savings ATM cards if you don’t already have an Alliant checking account debit card. This makes accessing funds a whole lot easier because cards can be used at any of 80,000+ Alliant-affiliated ATMs.

Finally, the ​kid savings account​. This, like the others, earns an APY of 3.10%. Unlike the others, it’s only for individuals 12 years old and younger. Joint ownership with a parent or guardian that is an Alliant member is required. Everything else is the same for this savings account.

About Alliant Credit Union + Eligibility

There are 450,000 Alliant members across the country. Alliant currently has over $11 billion in assets and $8.5 billion in loans.

As big as this credit union is, there is only one physical Alliant Credit Union branch and it is the headquarters location in Chicago. Other than that, there is no way to do in-person banking. Unfortunately, Alliant does not participate in shared or co-op branching with other credit unions, but it does give its members access to over ​80,000 surcharge-free ATMs​, some of these Alliant-owned and some shared with other credit unions.

Nearly anyone can qualify for membership with Alliant Credit Union because there are five eligibility requirements:

  1. You are a current or retired employee of a business or organization in partnership with Alliant (search these ​here​).
  2. Someone in your immediate family or your domestic partner is an Alliant member.
  3. You live or work in a ​qualifying community​ around the Alliant headquarters in Chicago, Illinois.
  4. You are a member of a ​qualifying organization.
  5. You are a member of ​Foster Care to Success​ ($5 membership fee paid on your behalf by Alliant).

If you don’t otherwise qualify and choose to go the #5 route, all you have to do is show your support for Alliant’s partner charity, Foster Care to Success, by letting Alliant donate $5 under your name. Anyone can become a member this way. This nonprofit serves foster teens nearing the age limit of the foster care system by connecting them with educational and employment opportunities and resources.

The generous eligibility policies of Alliant make it possible for any U.S. citizen to join Alliant, but even ​non-U.S. residents​ can join as long as they have a valid Social Security number or unexpired ITIN.

Suncoast Credit Union CD Rates – Up to 4.25% APY!

Written by:
Fact Checked :
Updated

image credit: suncoastcreditunion.com

Suncoast​ is the largest credit union in Florida and the tenth largest credit union in the U.S. by asset size.

Founded in 1934 as the Hillsborough County Teachers Credit Union by a small group of teachers, Suncoast got its start serving only school employees. For many years, it was a federal institution called the Suncoast Schools Federal Credit Union and only transitioned back to a state credit union, assuming the name it has now, in 2013.

Today and since 2013, membership is not career-dependent. Suncoast serves 884,024 educators and non-educators alike across Florida. However, Suncoast membership isn’t open to everyone.

To be eligible to join, you have to live in Florida yourself, be a graduate of Florida College, or be related to someone that’s already a member.

Suncoast Credit Union CD (certificate of deposit) rates are currently providing yields that are much higher than the national average for each respective term. They were recently featured in our January, 2023 report of the best CD rates in Florida.

Suncoast Credit Union CD Rates + Details

Suncoast deposits and savings are federally insured by the NCUA (FDIC equivalent for credit unions) up to $250,000. A traditional share certificate requires a minimum opening deposit and average daily balance of only $500.

CD Rates

CD TermAPY
6 month2.30%
12 month2.55%
18 month2.80%
24 month4.25%
36 month3.35%
48 month3.45%
60 month3.55%
APY = Annual Percentage Yield

To put these yields above in perspective, the current national average for a 12 month CD and a 60 month CD sit at just 1.49% APY and 1.35% APY according to FDIC data.

Jumbo CD Rates

CD TermAPY
6 month2.30%
12 month2.55%
18 month2.80%
24 month4.25%
36 month3.35%
48 month3.45%
60 month3.55%
APY = Annual Percentage Yield

Early Withdrawal Fees

An early withdrawal fee of 90 days interest is charged if you withdraw funds from CDs with terms of 12 months or less and 180 days interest is charged for early withdrawals on terms 12 months or more.

Compounding Interest

Dividends for these accounts are compounded daily and credited monthly. You can choose to have your interest credited back into the CD or deposited into another account – either external or internal to Suncoast – without incurring any fee.

Jumbo certificates of $100,000 or more are also sold through Suncoast Credit Union. In normal market conditions, these products earn higher fixed rates than regular share certificates with lower balances, however, Suncoast and many other institutions have their yields much more inline with standard CDs at the moment.

In addition to their standard CDs and jumbo CDs, Suncoast Credit Union also offers a ​Smart Start certificate account​.

Smart Start Certificate

The 12 month Smart Start certificate allows you to make deposits on a schedule rather than up front. It can be opened with just $50 and comes with an APY of 2.55%. After your initial deposit, you’ll need to schedule automatic payments of at least $40 per month from your payroll or another account. All of the restrictions and fees listed above for regular share certificates apply for Smart Start certificates.

To open a Suncoast CD, visit a branch, send an email through online banking, or contact the Member Care Center​ at ​813-621-7511 or 800-999-5887.

Suncoast Credit Union Money Market Rates + Account Details

Suncoast Credit Union’s current money market rates are much less competitive than their CDs. And although the national average for money market accounts sits at around 0.23% APY, better rates with more flexible balance requirements can be found online.

Money Market Rates

BalanceAPY
$0 – $999.990.70%
$1,000 – $24,999.990.85%
$25,000 – $49,999.990.95%
$50,000 – $99,999.991.05%
$100,000 – 149,999.991.15%
$250,000+1.25%
APY = Annual Percentage Yield

Dividends are compounded daily and paid monthly. Your balance can drop below $1,000 without incurring any fees, but you’ll stop earning interest as soon as that happens. You can easily access your money online or through the mobile app, but you’re allowed only six transactions per month, which is required by law per regulation D. If you need to make more than six transactions you’ll want to stop by a branch and check with someone in person.

Other Savings Accounts Offered by Suncoast Credit Union

A regular share membership is the savings account that you open when you first become a Suncoast member. This account comes with an APY of just 0.15%. We wouldn’t recommend using it to grow your savings given the paltry APY but it is required to be a member. Currently, it requires an opening deposit and average daily minimum balance of just $5 to stay open and maintain membership with the credit union.

There are also the student savings, health savings, and special share savings accounts. A special share savings is just a savings account you can have in addition to your regular share membership savings account and it earns the same rate. The only difference is that it does not require a minimum balance because it does not count as your share in Suncoast Credit Union.

A student or youth savings account is simply a certificate account that earns the same tiered rates as the standard Suncoast CDs but requires a minimum opening balance of only $500 – making it more manageable for students.

About Suncoast Credit Union + Eligibility

Suncoast has exactly 895,000 members as of mid 2020 and this figure has been growing steadily each year. The composition of Suncoast Credit Union’s Financial statements are as follows:

Deposits: $9,832,734,549

Loans: $8,566,015,257

Assets: $11,100,632341

Suncoast Credit Union is headquartered in Tampa, Florida and serves communities across the state. There are ​68 branch locations​ in 40 Florida cities and hundreds of Suncoast branded ATMs. Though it is a state credit union and does not participate in co-op shared branching with other institutions, Suncoast ​does​ have over 30,000 ATMs with other credit unions across the nation. Use the Suncoast site to find a branch location, Suncoast (surcharge-free) ATM, or co-op ATM near you.

Suncoast membership is, of course, residency or geography based. However, you don’t necessarily have to be a current Florida resident to be eligible to join. To qualify for membership, you must:

  1. Have an immediate family member that is a Suncoast member
  2. Live in a qualifying county (see below)
  3. Be a graduate of ​Florida College

Qualifying Florida counties​ include:

  • Alachua
  • Brevard
  • Broward
  • Charlotte
  • Citrus
  • Clay
  • Collier
  • Desoto
  • Dixie
  • Duval
  • Gilchrist
  • Glades
  • Hardee
  • Hendry
  • Hernando
  • Highlands
  • Hillsborough
  • Indian River
  • Lake
  • Lee
  • Leon
  • Levy
  • Manatee
  • Marion
  • Martin
  • Miami-Dade
  • Monroe
  • Orange
  • Osceola
  • Palm Beach
  • Pasco
  • Pinellas
  • Polk
  • Sarasota
  • Seminole
  • St. Johns
  • St. Lucie
  • Sumter
  • Volusia