Enjoy 1.76% CD Rates From Goodyear-Danville Credit Union

With CD rates dropping down to a national average of 0.72% this week, many financial institutions have also been cutting off on their APYs. However, this cut-down pushed up, if not highlighted, the current CD interest rate from Goodyear-Danville Credit Union. Here’s why:

Competitive 1-year Rate

Bank mogul Ally Bank has a current 1-year offer of 1.09%. On the other hand, another giant, CIT banks holds steady with their 1.06% interest rate. But value for your investment really becomes worth it when you choose a credit union to open your CD account. Goodyear-Danville offers a high return of 1.76% APY and 1.75% dividend rate. This only comes in a close second to Route 1 Credit Union’s 1.77% APY. Based on these comparisons, Goodyear-Danville proves to remain competitive in its rate offering.

However, unlike other banks or credit unions, this is the only CD term being offered from Goodyear-Danville. A one-year CD maturity is said to be the safest and most low-risk investment anyone can make, and it seems this credit union is well bent on that. Since their 1-year offer is all they have, you can never choose anything less than that, but you can still apply for renewal for as long as you want.

Other services include regular savings accounts, loan accounts, and mortgages. Specifications for each account type can be looked up in their website.

Opening a CD account requires one to have an initial minimum deposit of $2500. If early withdrawal is done, the penalty will be based on a 90-day dividend fee. Through their online Internet teller, you can make your application and submit necessary documents for the account opening. All account information and statements can be accessed online thereafter. Just make sure you keep note of the account name and password the company will be giving you – although you can still change the password to your preference later on. Transactions are reflected online since this credit union fully utilizes online banking.

About Goodyear-Danville Credit Union

This local credit union opened in 1979 and was originally intended for employees of Goodyear-Danville. In 2004, it opened expansion to non-members of the company. However, membership is still restricted to immediate family members. And if you’re married, first degree relatives of your spouse can also become members.

Goodyear-Danville Headquarters is located in Danville,Virginia, USA. It is a proud member of the National Credit Union Association and FedComp, Inc.


Beal Bank Offers 1.01% CD Rate Offer for a 1-Year Term

Due to their yield, rate, and stability, certificates of deposit are among the most popular forms of investment returns anyone can have. It’s relatively low-risk, plus you can get to choose the period of time for how long you want your investment to run for.

Beal bank offers really great and competitive rates these days. There are different rates for different states, but the best offer they have is their one-year APY of 1.01%. This amazing offer is open to residents from the zip code 72205.

To get this rate, an online application is needed.

Comparison of Rates

Aside form the 1-year term, they also offer other maturity periods. For their 3-year term, the APY and interest rate are both fixed at 0.51%. A 6-month term offers 0.61%, while a 9-month maturity yields 0.71% in both APY and interest rate.

The minimum deposit required to open a CD account in Beal Bank is $1,000. This amount should be kept in the account daily for the whole period of time. Otherwise, an amount lesser than this will be regarded as early withdrawal and penalty fees will be issued.

The penalty fee for CDs of less than 1-year is either 1% of the withdrawn amount or half of the total interest that would have been incurred throughout the whole maturity term. Penalty fees for early withdrawal for more than a year CD rate is either 1% of the withdrawn amount or the total replacement cost. The amount of this replacement cost is discerned only by the bank.

The APY for each given term is incurred only after maintaining the account for the whole period of time. The disclosed rate will be paid to you upon maturity of the certificate.

When the maturity period arrives, you will have ten days to decide whether you want to withdraw the total amount or sign up for another term. If nothing is done, Beal bank does automatic renewal. This renewal term will be the same as the original. However, the interest rate and the APY at this time may change.

There are a lot of fees for every different transaction, and these may reduce your total interest yield. Be sure to minimize unnecessary transactions so that you can get the most value for your money.

About Beal Bank

Beal Bank has been in service since 1988. Currently based in Dallas, Texas, it is one of the most stable financial institutions today. Total assets are estimated to be at a $3.5 billion in excess last year.