Certificates of deposit (CDs) are more than just an investment product, but a partnership with a bank or credit union. Since depositors agree to entrust their money with a financial institution for a set period of time, they receive higher interest rates as compensation. New investors looking for a shorter term deposit can use this banking philosophy with the VyStar Credit Union?s?12-month CD rate?of 0.61% APY.
12-Month CD Terms and Conditions
Five hundred dollars gets customers started; it?s both the minimum opening deposit and minimum balance requirement needed to begin obtaining the credit union?s 0.61% APY. While interest earned is compounded and credited monthly, CD account balances are updated on a daily basis for easy access.
The annual percentage rate for the 12-month CD is good for deposits up to $49,999 ? and deposits up to $250,000 are federally insured by the National Credit Union Administration. Early withdrawal penalties may apply.
About VyStar Credit Union
VyStar Credit Union?was originally founded in 1952 as the Jax Navy Federal Credit Union, serving civil service, military employees and their families at the Jacksonville Naval Air Station. In its first year, the credit union counted over 1,100 members, and just over $28,000 in assets. Today, VyStar has grown to become one of the largest credit unions in the entire nation, serving over 350,000 members nationwide.
Other Terms and Conditions may apply. Additionally, interest rates are based on the institution?s online published rates and may have changed since this offer was posted. Please contact the financial institution for the most recent rate updates and to review the terms of the offer.
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Source: http://www.gobankingrates.com/cd-rates/12-month-cd/vystar-credit-union-0-61-apy/
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