There is safety in savings, and certificates of deposit are the perfect example for this. But getting yourself a good deal with a competitive interest rate may be hard to do. However, great offers can come from local companies, and Nashville Credit Union is no exception.
CD Rate Offers
Nashville Credit Union offers varying certificate deposits to suits every individual’s different needs. To date, their 1-year APY of 1.31% is their best offer as the market in national CD rates comes even lower than that which NCU offers. Although this offer still rings far from fellow credit unions, such as Riverfork Federal CU’s 1.40% APY, this is a good rate deal nonetheless.
Term – APY – Penalty
(240 days) – 1.05% – 90 days
(365 days) – 1.31% – 90 days
(450 days) – 1.31% – 90 days
(730 days) – 1.76% – 180 days
(1095 days) – 1.81% – 180 days
(1825 days) – 1.81% – 365 days
Should an early withdrawal be issued, the penalty rates are placed at a variable amount.
To open an account, a minimum deposit amounting to $1,000 is required. Interests incurred from the investment shall be added to the account on a quarterly basis. And unlike other companies, there is no maintenance fee needed, so you can just literally sit back, relax, and let NCU do all the work for your money’s growth.
Applying For Membership
Credit unions are notorious for their exclusivity in terms of membership, but at NCU, many organizations or employees of affiliated companies can become a member. These companies include Martin Motors, Spandeck, Propex Fabrics Co., BH Electronics, and Steel Building Sytems Inc. among many others.
Individuals who may be related by blood to the employees of the said companies are also eligible for membership. Retired professionals and their family members can join NCU as well.
This company was founded in 1973 and started out as a cooperative to residents of Nashville. Many years later on and countless accreditations after, NCU is now duly recognized by the National Credit Union Administration. It offers services such as savings and checking accounts, as well as loans.
Certificates of deposits are certainly a reliable way of saving up money for something you need in the future. Once you open a CD account with NCU, you can make those short-term or long-term goals come true in no time.