United Federal Credit Union has a new CD rate promotion that covers new and existing members over a six state span.  The UFCU rate promotion involves two separate certificates with odd terms or maturities.  One CD promotion is for a midterm account while the other is for a long term account and both CD rates eclipse those offered by banks with comparable maturities.

The midterm credit union CD has a maturity of 16 months and an annual percentage yield (APY) of 1.40%.  The long term CD has a maturity of 45 months and an APY of 2.20%.  Comparable bank rates include the one year CD which has an average rate of 0.22% and the four year CD which has an average rate of 0.61%.  (Average bank CD rates based on data promulgated by the FDIC, https://www.fdic.gov/regulations/resources/rates/)

The credit union CD rates are also eligible as IRA accounts.  IRA eligible means this certificate can be set up as an Individual Retirement Account (IRA).  An IRA is a type of retirement savings account that provides tax advantages to some individuals.

By letting the consumer choose the maturity date, either 16 months or 45 months, UFCU promotional CDs and IRA CDs can be a clever way to earn high returns on your savings without undue limitations.  Minimum balance requirement for consumers to open an account and earn the promotional rate is $500.00.

This is a limited time promotion by the credit union. CD rates are subject to change at any time.  Additional conditions may apply.

United Federal Credit Union is a Michigan based credit union that has been in operation since 1949.  UFCU has more than 150,000 Member/owners worldwide, and manages assets in excess of $2 billion. Its corporate offices and main branch are located in St. Joseph, Mich., with additional branches in Arkansas, Indiana, Michigan, North Carolina, Nevada, and Ohio

The credit union has very amenable membership requirement for consumers in the six state region served by the credit union including Arkansas, Indiana, Michigan, Nevada, North Carolina, Ohio, and Oklahoma. Certificate accounts can be opened online, on the phone, or in person.

More information about the current UFCU CD rates and account information can be obtained by contacting the customer service number at (888) 982-1400 or visiting the credit union’s web site at unitedfcu.com.  Rates, terms, and conditions subject to change without notice.

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