Savings are very important to almost all people. Even the richest individuals make sure they have enough savings in order for them to have something they can use whenever they need cash. There are a lot of people who would keep up with their investments through saving a lot and one way for them to do it is through opening certificates of deposits. All people nationwide are really keeping their options open and one option they have is by joining the Apple Federal Credit Union or the Apple FCU.
Apple Federal Credit Union is insured by the National Credit Union Administration or NCUA which is a government agency. The union provides quality services for individuals as well as the whole family. Since this is a credit union, in order for one to be a member she or she will have to open a savings account. The savings account will only cost $5. This will start the membership and then it would be the right time to open a certificate of deposit account.
APPLE FCU Certificate of Deposits
The union has two kinds of certificates of deposits. They have the regular and the jumbo CDs. For their regular certificate of deposit, $500 is the minimum deposit. For the six month term, the APY is 0.40% while 0.60% APY is for the 12 month term. For the 24 months certificate, the APY is 0.70% and the APY for the 36 month is 0.80%. They also have the 120 month certificate with a huge 2.40% APY. On the other hand, the jumbo certificate of deposit rates have a minimum deposit of $50,000. This maybe a large money or amount to think about but this is usually for businesses who have a large amount of cash in their accounts. For the Jumbo 12 month, the annual percentage yield is 0.65%. While for the 36 and 60 month certificate have 0.85% and 1.55% APY respectively.
The rates they have are subject to change but whatever happens people with certificate of deposits are secured and sure that they have the money and that they can claim it once the term they have expires and then they can then renew it as well if they want to.