During this 10 day window you can modify your CD – either by deposit amount or term – or close it out entirely. Grace Period and Early Withdrawal Feesįreedom Credit Union has a standard grace period of 10 days upon the maturity of your CD. You are permitted to withdraw your interest each month without penalty by transferring the funds to another account with FCU or a separate bank, or you can just leave it in there to continue compounding. Compounding and Crediting Interestĭividends are compounded and credited monthly for standard certificates with Freedom Credit Union. This is a unique rule that may make these accounts slightly more attractive to young adults, for whom CDs and other savings accounts probably aren’t top of mind. The minimum opening deposit required for all certificates is $500 for members over the age of 25 or just $250 for members equal to or younger than 25 years old. To put these yields into perspective, the current national average for a 12 month CD and a 60 month CD sit at 1.28% and 1.21% APY, respectively, according to FDIC data.Įven the top yields offered from FDIC-insured online banks are just barely inching over the 4.50% APY mark for both 12 and 60 month terms – so this 60 month CD offered by Freedom Credit Union is one of the most competitive CD rates on the market for 5 year terms. See the current rates on these accounts below. Terms are available for between six and 60 months or five years. Freedom Credit Union currently has only one type of CD account available and this is a standard certificate of deposit.

Freedom first credit union cd rates