Linn Area Credit Union CD Rates
Linn Area Credit Union’s CD rates are crucial considerations for individuals seeking reliable and competitive investment options. The importance lies in the potential for account holders to earn favorable returns on their deposits over specified terms.
The credibility of Linn Area Credit Union further enhances the appeal of these rates, as credit unions are typically known for their commitment to member satisfaction, community focus, and competitive financial products. Let’s have a deeper analysis below;
Linn Area Credit Union CD Rates Offers
The considerable offers by Linn Area Credit Union are as follows;
3-Month CD
- APY: 0.20%
- Minimum Deposit: $1,000
Consideration
Short-term option with a modest interest rate, suitable for those seeking quick access to funds after a brief investment period.
Pros & Cons
| Pros | Cons |
| Quick access to funds | Low APY (0.20%) |
6-Month CD
- APY: 0.20%
- Minimum Deposit: $1,000
Consideration
Another short-term option with a comparable interest rate is suitable for individuals looking for a slightly longer investment horizon than the 3-month CD.
Pros & Cons
| Pros | Cons |
| Low minimum deposit | Short investment period |
9-Month CD
- APY: 5.00%
- Minimum Deposit: $1,000
Consideration
Higher interest rates compared to shorter terms, make it an attractive option for those willing to commit to a slightly longer investment period.
Pros & Cons
| Pros | Cons |
| High APY (5.00%) | Longer commitment period |
11-Month CD
- APY: 4.75%
- Minimum Deposit: $1,000
Consideration
A mid-term option with a competitive interest rate, balancing a favorable return with a relatively shorter commitment period.
Pros & Cons
| Pros | Cons |
| Moderate minimum deposit | Longer commitment period |
12-Month One-Jump CD
- APY: 4.00%
- Minimum Deposit: $1,000
Consideration
Allows for a one-time interest rate adjustment during the term, providing flexibility for potential rate increases in the market.
Pros & Cons
| Pros | Fixed-rate for the majority of the term |
| One-time rate adjustment | Moderate APY (4.00%) |
| Moderate minimum deposit | Fixed rate for the majority of the term |
15 & 17-Month CD
- APY: 0.60%
- Minimum Deposit: $1,000
Consideration
A longer-term option with a lower interest rate is suitable for those seeking a more stable and predictable return over a somewhat extended period.
Pros & Cons
| Pros | Cons |
| Longer investment period | Low APY (0.60%) |
| Moderate minimum deposit |
Are Linn Area Credit Union CD Rates Competitive?
Linn Area Credit Union offers a mix of competitive and less competitive CD rates across various terms.
- The 9-month and 11-month CDs stand out with impressive annual percentage yields of 5.00% and 4.75%, respectively, providing account holders with attractive returns over a relatively short investment period.
- On the other hand, the 3-month and 6-month CDs offer lower APYs at 0.20%, which may be less appealing for those seeking higher yields.
- The 12-month One-Jump and 13-month CDs, both with a 4.00% APY, provide a moderate balance.
- The 15-month and 17-month CDs, offering a 0.60% APY, are suitable for individuals looking for longer-term stability but with lower returns.
Therefore, Linn Area Credit Union’s CD rates exhibit a competitive edge for certain terms while catering to a range of investment preferences and timelines.
Overview Linn Area Credit Union
Linn Area Credit Union is a small not-for-profit credit union that serves the Cedar Rapids and Marion area communities of Iowa. They are a member-owned banking institution and they are family-based.
They see their members as members of their Linn Area family, and the bankers live and work in the area that they serve. It is common to see your bank teller, investment officer, or bank chairman at the grocery store, local events, or schools.
Callahan & Associates awarded Linn Area Credit Union with their #1 nation ranking for credit unions. The award reflects Linn Area Credit Union’s consistent value that it provides to its members.
They have helped their community grow by providing accessible banking services at competitive rates. Because they are a not-for-profit credit union, they are driven by their mission to take care of their members rather than make money for themselves.
Historically, Linn Area Credit Union was known as the Cedar Rapids Teachers’ Credit Union. The credit union was founded in 1935. Calahann and Associates ranked Linn Area Credit Union as #1 nationwide out of 4,000 credit unions.
This credit union started as a teachers’ credit union and they have carried their value for education with them to the present day. They have resources available for educators in their community.
Giving back to their community is a clear priority to them because they helped hundreds of local nonprofits with financial contributions and volunteer work. They focus their charitable donations on programs that benefit families, children, small businesses, and education. Linn Area Credit Union founded and manages the Teacher Store.
The Teacher Store provides classrooms with free supplies. A lot of teachers pay for materials out of their own pockets, and so the credit union stepped up to help out.
Availability
To purchase a CD from Linn Area Credit Union you need to head down to a branch in person. You can also give them a call to find out more information.
Locations Linn Area Credit Union
Branches in Iowa
The branches in Iowa are:
Cedar Rapids, Marion
Frequently Asked Questions
In the event of an early withdrawal, Linn Area Credit Union may impose penalties, typically in the form of forfeiting a portion of the interest earned.
Yes, Linn Area Credit Union provides account holders the option to renew or roll over their 12-Month One-Jump CD at the prevailing interest rates. This allows members to capitalize on potentially higher rates or maintain the current term structure based on their financial goals.
Generally, Linn Area Credit Union CDs are set up as fixed-term accounts, and additional funds cannot be added once the CD is established. However, members can explore other savings or investment options offered by the credit union to contribute additional funds separately.
Linn Area Credit Union reviews and adjusts its CD interest rates periodically based on market conditions.