At Community Federal Credit Union, the experts are dedicated to empowering our members with financial solutions that go beyond traditional banking. As a not-for-profit cooperative, the focus of CFCU CD rates is on serving the community and enhancing the financial well-being of our members.

Let’s dig out the details further below;

Community Federal Credit Union (CFCU) CD Rates Offers

The promotional advantages of CFCU CD rates are

12-60 Month CD SpecialĀ 

Key Features

  • The Certificate of Deposit (CD) has varying terms of 12-60 months.
  • The APY for $500 minimum balance is 4.00%
  • The APY for $2,500 minimum balance is 4.05%
  • The APY for $100,000 minimum balance is 4.15%

Additional Considerations

  • The enhanced savings options suggest that this CD is part of a broader effort to provide more advantageous savings opportunities for customers, specifically in Michigan.

Pro & Cons

Competitive APYs for various termsEarly withdrawal penalties apply
Wide variety of investment minimums Rates may change, affecting future earnings
Varying term lengthsFees could reduce overall earnings

Are Community Federal Credit Union (CFCU) CD Rates Competitive?

The Annual Percentage Yield (APY) at CFCU is reflective of the institution’s commitment to providing attractive returns to its members. Members can benefit from competitive rates while enjoying the stability and security that come with a fixed-term investment.

With a variety of minimum investment options, CFCU’s CDs offer accessibility to a broad range of individuals, making it an inclusive choice for those looking to initiate or expand their investment portfolio.

Individuals need to consider factors such as the minimum balance requirements, potential fees, and the terms associated with early withdrawals. However, overall, CFCU’s CD rates demonstrate a commitment to delivering competitive and beneficial financial solutions for its members within the context of the broader community.

Overview Community Federal Credit Union (CFCU) 

Community Federal Credit Union opened in 1953, originally as the credit union for Cornell University Employees. Since a large expansion to the present time, CFCU has 11 locations, over 70,000 members, and over $900 million in assets and is one of the largest credit unions in New York State. 

CFCU provides several competitive certificate rates. For beginning savers, the Lucky Savers account is a special certificate that allows the accumulation of savings while providing the opportunity to win monthly and quarterly cash rewards. With a $25 deposit, members receive up to 10 chances while every amount deposited remains within the account.

All rates are subject to change, and fees are subject to all certificates for early withdrawal.

Community Federal Credit Union (CFCU) also offers checking and savings accounts, money market services, free notary public, foreign currency exchange, wire transfers, auto loans, student loans, recreational vehicle loans, personal loans, and various mortgage offerings in addition to the discussed range of CD rates. 

Locations Community Federal Credit Union (CFCU)

Plymouth, Novi, Hillman, Livonia, Atlanta, Northville, Gaylord, Westland, Canton Center, Lewiston, Wixom, Wayne State University

Frequently Asked Questions

Do CD rates at CFCU vary based on the term length?

Yes, CFCU CD rates vary based on the term length. Typically, longer-term CDs offer higher rates.

What is the minimum deposit required to open a CD at CFCU?

The minimum deposit to open a CD is $500. This ensures that you can start enjoying the benefits of their competitive CD rates.

Are there any fees associated with CFCU CDs, and what are the penalties for early withdrawal?

While there are no upfront fees to open a CD, you should be aware that early withdrawal penalties may apply. These penalties help maintain the stability of our CD offerings.

What options does CFCU provide for receiving interest payments on CDs?

Interest payments can be received monthly, quarterly, or at maturity, depending on your preference.

Can I add funds to a CD during its term, and how is the interest calculated?

Our CDs typically do not allow additional deposits once the account is open. Interest is calculated based on the initial deposits.