Space Coast Credit Union CD Rates
CD terms and the offers – especially at SCCU are highly unnegotiable. It is precisely designed to the need and requirement of enhancing the earnings of the customers.
The people chose the flexible period and after having a precise overview of the complete CD terms by the authorities – they made a fine decision for a prolonged horizon.
In the section below, we have tried to present a thorough summary of the Space Coast Credit Union CD Rates. let’s find the further details:
Space Coast Credit Union CD Rates Offers
The offers of attraction for Space Coast Credit Union are;
12-Month CD
- APY: 5.61%
- Minimum Deposit: $500
- Consideration: This option provides a moderate term with a respectable interest rate, suitable for those seeking a balance between yield and liquidity.
Pros & Cons
| Pros | Cons |
| Impressive 5.61% APY | Moderate term with a lower interest rate |
60-Month CD
- APY: 3.29%
- Minimum Deposit: $500
- Consideration: This option is ideal for individuals with a longer-term investment strategy, seeking a higher interest rate over an extended period.
Pros & Cons
| Pros | Cons |
| Low $500 minimum deposit | Potential for higher rates elsewhere |
48-Month CD
- APY: 3.55%
- Minimum Deposit: $500
- Consideration: For those seeking a middle-ground between short and long-term commitments.
Pros & Cons
| Pros | Cons |
| Low $500 minimum deposit | Rates may be surpassed by shorter or longer |
Are Space Coast Credit Union CD Rates Competitive?
The CD rates offered by Space Coast Credit Union can be considered competitive in the current financial landscape.
Across the various terms, such as the 12-month CD at 5.61% APY, and the 60-month CD at 3.29% APY, these rates generally align with or exceed industry averages.
The competitive edge is further evident in the variety of terms offered, catering to individuals with different investment horizons.
Moreover, the competitiveness of CD rates can vary over time and in comparison to rates offered by other financial institutions.
Space Coast Credit Union’s rates appear to be attractive, particularly when considering the balance between yield and liquidity. However, individuals seeking the highest possible rates may still want to compare offerings from other institutions to ensure they secure the most favorable terms for their specific financial goals.
Overview Space Coast Credit Union
Space Coast Credit Union (SCCU) is a bank based out of Florida that was founded in 1951. SCCU started from a humble beginning serving 28 clients and holding $372 in assets to now having more than 629,000 members and $8.7 billion in assets.
SCCU might be a good choice if you are a Florida resident and live in one of the counties served.
They offer competitive interest rates and very low minimum account deposits which makes opening a CD account more feasible for those with less money.
SCCU also offers unique IRA CDs that work mostly the same but have higher interest rates. The CD IRAs are a great way to start saving for retirement and have maturation dates ranging from 6 months to 60 months.
However, if you do not live in Florida then you probably should find another bank to use.
Locations Space Coast Credit Union
SCCU has branches that stem from Florida’s east coast to Miami-Dade.
Frequently Asked Questions
Upon maturity of your 48-month CD, you will have a grace period during which you can make decisions regarding your funds. You may choose to renew the CD for another term, make additional deposits or withdrawals, or opt for other available account options.
Yes, Space Coast Credit Union may periodically offer promotions or bonuses for opening CD accounts.
Yes, Space Coast Credit Union allows customers to have multiple CD accounts with different terms. This flexibility enables individuals to create a diversified CD portfolio, aligning with their specific financial goals and investments.
Early withdrawal penalties for a 54-month CD at Space Coast Credit Union typically involve forfeiting a portion of the interest earned.
The interest on CDs at Space Coast Credit Union is commonly paid out at maturity. However, customers have the option to choose different interest disbursement methods, such as monthly or quarterly payments, depending on the terms and conditions associated with the terms.