![]() Many Americans enjoy performing their banking transactions with credit unions citing better rates, It therefore is important toįully understand the terms of any time-based deposit that you enter with a credit union. Not all credit unions even offer early withdrawal,Īnd many that do maintain the right to deny it in their terms and conditions. The penalties for early withdrawal can be severe. Should you need your money before the expiration of the contractual period, The period is obviously 1-year), you earn a fixed rate or return that cannot change over the course To keep your money tied up with the credit union for a given time period (in the case of 1-year CDs, ![]() ![]() Credit Union One-Year Certificates of Deposit 2023Ĭredit union certificates of deposit (“CDs”, also commonly called “time deposits” at credit unions) areĬontract-based and time-based savings vehicles that are offered by credit unions.
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