Local deals are definitely better options when you’re looking for low-risk investments to your money such as certificates of deposit. In this case, Hanscom Federal Credit Union fits the bill. It continues to offer good deposit deals in the state of Massachusetts.
The two best deals are the 18th-month and 30th-month CD terms. The dividend rate for the 18th-29th month CD maturity is 1.14%, while the APY is at 1.15%. On the other hand, the dividend rate for the 30th-59th CD is 1.44%, with an APY of 1.45%.
There are other maturity terms available as well. An example is HCU’s 3-5 month term, with a dividend rate of and APY of 0.50%. A 6-11th month term will yield 0.60% dividend and APY, while a 12-17th-month term gives you 0.80%. They also offer an 11-month term made available only when you have an existing Premier Checking account, with a dividend and APY of 0.95%.
A much longer term is the 60-month maturity rate. At a dividend of 1.83% and an APY of 1.85%, this proves to be one of the better deals available from local CD offerings. Another maturity term that’s available only with a co-existing Premier Checking account is the 48th-month term. Dividends are given 1.79% growth and an APY of 1.80% for the whole course of maturity.
All these certificates require a minimum balance of $1,000 in order for you to open such account. However, they also have an Easy Start CD offer open to those who have less than the standard deposit amount, but willing to invest their money all the same. For only $250 in initial deposit amount, you can incur an APY and dividend rate of 0.50%.
Before opening an account, you need to be a member of this credit union. To be a credit union member, an online membership form is available for filling-up. As part of their eligibility criteria, you must be an active or retired employee of the Federal Government in Massachusetts. Aside from this, you can choose to join a sponsoring member such as the Air Force Association, in order to be a credit union member. Further details will be disclosed as soon as you contact and send your personal inquiries to their customer service personnel.
About Hanscom Federal Credit Union
Considered to the Massachusett’s 6th largest credit union, Hanscom FCU was first established in 1953. Having been established in the financial industry, Hanscom FCU gives rates that are over six times higher than the national average.
Hanscom Federal Credit Union branches are located in Boston, Bedford, Concord, Burlington, and in the Hanscom Air Base.