Florida

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Credit Union CD Rates – 2-Year – Florida 2020

Below are two year Certificates of Deposit (CD) rates from credit unions located in Florida. Two year CDs generally offer a higher rate than 1 year CDs but require a longer commitment. Depending on the economy, longer term CDs may or may not offer more premium as the term increases. If you expect rates on credit union and bank products to drop, can afford to lock the money away, and feel you are receiving enough premium for the time commitment, then longer-term CDs may be appropriate.

FL - August 12, 2020

2 Year CD National Average : 0.55% ?

Advertiser Disclosure
Credit Unions APY MIN MILES ?
Eglin
Restrictions
1.46% $2,500 - Learn More
American Airlines
Restrictions
1.41% $10,000 - Learn More
Pen Air
Restrictions
1.40% $10,000 - Learn More
Trugrocer
Restrictions
1.31% $100,000 - Learn More
City & Police
Restrictions
1.31% $100,000 - Learn More
1.31% $10,000 - Learn More
Trugrocer
Restrictions
1.26% $10,000 - Learn More
City & Police
Restrictions
1.26% $10,000 - Learn More
All In
Restrictions
1.21% $100,000 - Learn More
1.20% $100,000 - Learn More
Vystar
Restrictions
1.20% $100,000 - Learn More
1.20% $500 - Learn More
All In
Restrictions
1.16% $10,000 - Learn More
1.16% $10,000 - Learn More
Mccoy
Restrictions
1.16% $100,000 - Learn More
Santa Rosa County
Restrictions
1.15% $10,000 - Learn More
Wings Financial
Restrictions
1.15% $100,000 - Learn More
1.10% $100,000 - Learn More
1.10% $10,000 - Learn More
Community South
Restrictions
1.10% $10,000 - Learn More
Vystar
Restrictions
1.10% $10,000 - Learn More
Wings Financial
Restrictions
1.10% $10,000 - Learn More
1.05% $100,000 - Learn More
1.01% $10,000 - Learn More
1.01% $10,000 - Learn More
1.00% $10,000 - Learn More
Partners
Restrictions
1.00% $100,000 - Learn More
1.00% $10,000 - Learn More
1.00% $10,000 - Learn More
First Commerce
Restrictions
1.00% $1,000 - Learn More
Campus Usa
Restrictions
1.00% $100,000 - Learn More
Mccoy
Restrictions
0.95% $10,000 - Learn More
Campus Usa
Restrictions
0.95% $10,000 - Learn More
0.95% $10,000 - Learn More
People's Alliance
Restrictions
0.90% $10,000 - Learn More
Harvesters
Restrictions
0.90% $10,000 - Learn More
Platinum
Restrictions
0.90% $10,000 - Learn More
0.90% $10,000 - Learn More
Together
Restrictions
0.90% $10,000 - Learn More
Self-help
Restrictions
0.90% $10,000 - Learn More
First Florida
Restrictions
0.89% $10,000 - Learn More
Alive
Restrictions
0.87% $10,000 - Learn More
Florida Central
Restrictions
0.86% $10,000 - Learn More
Innovations
Restrictions
0.85% $10,000 - Learn More
Miami
Restrictions
0.85% $10,000 - Learn More
Jm Associates
Restrictions
0.85% $100,000 - Learn More
Community
Restrictions
0.85% $10,000 - Learn More
South Florida
Restrictions
0.80% $10,000 - Learn More
0.80% $10,000 - Learn More
Geico
Restrictions
0.80% $10,000 - Learn More
0.80% $10,000 - Learn More
Jm Associates
Restrictions
0.80% $10,000 - Learn More
Insight
Restrictions
0.80% $10,000 - Learn More
Jax
Restrictions
0.75% $100,000 - Learn More
0.75% $100,000 - Learn More
Pentagon
Restrictions
0.75% $10,000 - Learn More
Ohio Catholic
Restrictions
0.75% $25,000 - Learn More
0.75% $10,000 - Learn More
T M H
Restrictions
0.75% $10,000 - Learn More
121 Financial
Restrictions
0.75% $10,000 - Learn More
Lake Michigan
Restrictions
0.75% $10,000 - Learn More
0.75% $100,000 - Learn More
0.75% $10,000 - Learn More
0.75% $10,000 - Learn More
Coastline
Restrictions
0.74% $100,000 - Learn More
0.70% $10,000 - Learn More
0.70% $10,000 - Learn More
Ohio Catholic
Restrictions
0.70% $500 - Learn More
Everence
Restrictions
0.70% $100,000 - Learn More
Tyndall
Restrictions
0.70% $10,000 - Learn More
0.70% $10,000 - Learn More
Launch
Restrictions
0.70% $10,000 - Learn More
0.70% $10,000 - Learn More
Fairwinds
Restrictions
0.70% $10,000 - Learn More
0.70% $10,000 - Learn More
Sun
Restrictions
0.66% $100,000 - Learn More
0.65% $10,000 - Learn More
0.65% $100,000 - Learn More
Chartway
Restrictions
0.65% $10,000 - Learn More
Jax
Restrictions
0.65% $2,500 - Learn More
Adventhealth
Restrictions
0.65% $100,000 - Learn More
Ocala Community
Restrictions
0.65% $100,000 - Learn More
Suncoast
Restrictions
0.65% $10,000 - Learn More
Ithink Financial
Restrictions
0.65% $10,000 - Learn More
Sun
Restrictions
0.61% $10,000 - Learn More
Gulf States
Restrictions
0.61% $10,000 - Learn More
0.60% $10,000 - Learn More
United Police
Restrictions
0.60% $100,000 - Learn More
Coastline
Restrictions
0.60% $10,000 - Learn More
Grow Financial
Restrictions
0.60% $100,000 - Learn More
Everence
Restrictions
0.60% $10,000 - Learn More
Jetstream
Restrictions
0.60% $10,000 - Learn More
0.60% $10,000 - Learn More
Space Coast
Restrictions
0.60% $10,000 - Learn More
Envision
Restrictions
0.60% $10,000 - Learn More
United Police
Restrictions
0.55% $10,000 - Learn More
Adventhealth
Restrictions
0.55% $10,000 - Learn More
0.55% $10,000 - Learn More
Baxter
Restrictions
0.55% $10,000 - Learn More
Power Financial
Restrictions
0.55% $10,000 - Learn More
0.54% $100,000 - Learn More
Sunstate
Restrictions
0.52% $100,000 - Learn More
Tampa Postal
Restrictions
0.50% $10,000 - Learn More
Grow Financial
Restrictions
0.50% $10,000 - Learn More
Sunstate
Restrictions
0.50% $10,000 - Learn More
0.50% $10,000 - Learn More
Partners
Restrictions
0.50% $10,000 - Learn More
0.50% $100,000 - Learn More
0.50% $10,000 - Learn More
Ocala Community
Restrictions
0.50% $10,000 - Learn More
0.50% $10,000 - Learn More
Tallahassee-leon
Restrictions
0.45% $10,000 - Learn More
Brightstar
Restrictions
0.45% $10,000 - Learn More
0.44% $10,000 - Learn More
Bay
Restrictions
0.41% $10,000 - Learn More
Ficare
Restrictions
0.40% $10,000 - Learn More
Tampa Bay
Restrictions
0.40% $10,000 - Learn More
Gte
Restrictions
0.40% $10,000 - Learn More
0.40% $10,000 - Learn More
0.40% $10,000 - Learn More
University
Restrictions
0.35% $10,000 - Learn More
0.35% $10,000 - Learn More
Priority
Restrictions
0.30% $10,000 - Learn More
0.30% $10,000 - Learn More
Midflorida
Restrictions
0.25% $10,000 - Learn More
Florida
Restrictions
0.20% $10,000 - Learn More
All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.

BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.

PRODUCT INFORMATION

Credit Union Certificates of Deposit 2020

Credit union certificates of deposit (“CDs”, also commonly called “time deposits�t at credit unions) are contract-based and time-based savings vehicles that are offered by credit unions. In return for agreeing to keep your money tied up with the credit union for a given time period, you earn a fixed rate or return that cannot change over the course of that period. Should you need your money before the expiration of the contractual period, the penalties for early withdrawal can be severe. Not all credit unions even offer early withdrawal from CDs; many that do offer it maintain the right to deny it in their fine print. It therefore is important to fully understand the terms of any time-based deposit that you enter with a credit union. Read this article for further detail on early withdrawal penalties. {hyperlink: https://www.bestcashcow.com/articles/can-you-always-withdraw-your-money-early-from-a-cd-9178}

Many Americans enjoy performing their banking transactions with credit unions, citing better rates, non-profit status (owned by its depositors), more helpful employees, and a commitment to the community that is above the level offered by local banks. You will find a map with all credit unions that are close to you here. It is important to note that some credit unions have limited fields of membership, although others are more open ended. Under any circumstance, you must meet the membership requirements in order to become a member and open a CD or time deposit.

Those who are willing to tie up their money for one year will often get a slight premium over the best available savings rates. People who work with credit unions may find that they offer better rates on CDs or time deposits than local banks and online banks. You however should check the local bank rates where you live here and the online rates here.

To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.

NCUA Insurance

Most, but not all, credit unions listed on BestCashCow are insured by the National Credit Union Administration (NCUA). You should confirm that the credit union that you are working with is NCUA-insured by visiting that institution’s BestCashCow page (NCUA coverage is detailed on the overview tab). The NCUA insures each named individual's deposits to $250,000 for all accounts at the credit union within ownership class. The rules are very similar, but not identical, to those for FDIC insurance. You should always stay within NCUA insurance limits.

BestCashCow strongly recommends that you deposit money only in NCUA insured credit unions and that you stay within insured limits. If you are considering depositing over $250,000 at a single NCUA-insured credit union across products (share certificates, time deposits, etc.) or across types of ownership (individual, joint, etc.) you should use the NCUA’s Share Insurance Toolkit in order to be sure that you are not exceeding coverage limits.

FREQUENTLY ASKED QUESTIONS ABOUT CREDIT UNIONS

Is my money any less safe at a credit union?

As long as your credit union is NCUA insured and you stay within the NCUA limits, As long as your credit union is NCUA insured and you stay within the NCUA limits, your money is no less safe than it would be in an FDIC-insured bank.

Is there any difference between a time deposit offered by a credit union and a CD account offered by a bank?

The difference is mainly one of terminology. But, you should always completely understand the terms of a time deposit or CD before you enter it, paying careful attention to the early withdrawal penalties. A reasonable early withdrawal penalty for a 1-year CD or time deposit is 3 months, and a reasonable early withdrawal penalty for a longer term CD is 6 months.

Does the small amount of interest gained on a time deposit make sense given the fact that I am losing access to my capital (liquidity)?

This is a decision that depends on your own specific circumstances, your needs for cash, and other investments that you may wish to pursue over the period of your time deposit or CD. The premium in a one-year CD is very small, with the premium of longer-term CDs being a little wider. A small difference in compounding interest can make a large difference over long period of time. You may wish to familiarize yourself with our Savings Booster Calculator  {insert hyperlink} in order to understand the importance of compounding interest at higher rates on your money over time.

SAVINGS & CD CALCULATOR

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