In the ever-shifting landscape of personal finance, finding a secure yet lucrative avenue for investment is quite a difficult task. As individuals are looking forward to fortifying their financial foundations, the attraction of Certificate of Deposit offerings becomes increasingly apparent. Among a lot of financial institution options, Hapo Community Credit Union emerges as a noteworthy player.

Let’s find out the details of Hapo Community Credit Union CD Rates next;

Hapo Community Credit Union CD Rates Offers

6-Month Fixed Rate CD

  • Dividend Rate: 2.48%
  • Annual Percentage Yield (APY): 2.50%
  • Minimum Balance: $100

Considerations

  • Funds will be tied up for a short duration.
  • Shorter terms typically involve lower interest rate risk.

Pros & Cons

ProsCons
Short-term commitmentLower interest rate compared to longer terms
Quick access to funds after 6 monthsLimited time for investment growth
Lower interest rate riskLimited potential for high returns

12-Month Fixed Rate CD

  • Dividend Rate: 4.33%
  • APY: 4.40%
  • Minimum Balance: $100

Considerations

  • It Offers a mid-range term, providing a balance between short and long-term commitments.

Pros & Cons

ProsCons
Balanced durationIntermediate liquidity
Higher returns than 6-month CDLonger commitment than 6 months
Suitable for medium-term goalsModerate interest rate risk

24-Month Fixed Rate CD

  • Dividend Rate: 4.18%
  • APY: 4.25%
  • Minimum Balance: $100

Considerations

  • Provides a balance between short-term and long-term rates.

Pros & Cons

ProsCons
Stable returns over 2 yearsLess liquidity than shorter terms
Balances short and long-term ratesModerate interest rate risk

36-Month Fixed Rate CD

  • Dividend Rate: 3.45%
  • APY: 3.50%
  • Minimum Balance: $100

Considerations

  • Useful for planning for events or goals a few years down the line.

Pros & Cons

ProsCons
Moderate risk-reward ratioHigher interest rate risk
Longer-term commitment

60-Month Fixed Rate CD

  • Dividend Rate: 2.48%
  • APY: 2.50%
  • Minimum Balance: $100

Considerations

  • Funds will be less accessible during the 5-year period.

Pros & Cons

ProsCons
Stable, predictable returnsLowest liquidity among terms
Long-term financial planningTied-up funds for 5 years

Are Hapo Community Credit Union CD Rates Competitive?

Hapo Community Credit Union’s CD rates appear to be competitive, offering a range of terms to accommodate different investment preferences. For shorter durations, such as the 6-month term, the credit union provides a reasonably competitive rate, suitable for those seeking a quick turnaround and lower interest rate risk.

As the term lengthens to 12 months, 24 months, and 36 months, Hapo Community Credit Union maintains competitive rates, providing a balance between returns and commitment duration. The 60-month term, while offering stable and predictable returns, features a relatively lower interest rate compared to shorter terms, aligning with the typical trade-off between longer commitment periods and interest rates.

Overview Hapo Community Credit Union 

They are often asked what “HAPO” stands for. HAPO is an acronym for Hanford Atomic Products Operations. The company was formed by a group of co-workers who pooled their money together and formed a bank together.

Whether you prefer the face-to-face meeting of a branch visit or the convenience of online, HAPO is available for all your banking needs. Besides CDs, they also offer all the standard services of a bank, such as checking accounts, saving accounts, loans, money transfers, Notary of public services, cash and coins for businesses, wire transfers, sending money, and much more.

Availability

You will need to become a member of Hapo CCU to invest in their CDs. Make sure you have all your paperwork in order, and the process will take a few, simple minutes. Whether you choose to do it online or in person, the bank representatives are the best in the business at helping new and existing customers.

Locations Hapo Community Credit Union 

Branches in Washington

The branches in Washington are:

Three branches in Richland, three branches in Kennewick, two branches in Paco, Sunnyside, Vancouver, Walla Walla, and College Place, and three in Yakima.

Branches in Oregon

The branches in Oregon are:

Two branches in Hermiston, Weston, and Milwaukie

Frequently Asked Questions

What is the minimum balance required for a Hapo Community Credit Union 6-month CD?

The minimum balance for a 6-month CD at Hapo Community Credit Union is $100.

Are there penalties for early withdrawal from a 12-month CD?

Yes, there may be penalties for early withdrawal from a 12-month CD.

How often are dividends paid on a 24-month CD?

Dividends on a 24-month CD are typically paid at regular intervals, such as monthly or quarterly.

Can I add funds to my 36-month CD after the initial deposit?

Generally, no. CDs are time deposits with fixed terms, and additional funds are not typically allowed once the account is opened.

How is the Annual Percentage Yield (APY) calculated on Hapo Community Credit Union CDs?

APY is calculated by taking into account the interest rate and the frequency of compounding. It provides a more accurate representation of the overall yield on the investment.