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Credit Union CD Rates – 2-Year – Elyria, Ohio 2019

Below are two year Certificates of Deposit (CD) rates from credit unions located in Elyria, Ohio. 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.

Elyria, OH - December 11, 2019

2 Year CD National Average : 1.09% ?

Advertiser Disclosure
Credit UnionS APY MIN MILES ?
2.53% $1,000 5240.93
2.43% $1,000 5240.60
2.30% $100,000 5193.39
Connexus
Restrictions
2.21% $5,000 5238.00
2.20% $10,000 5193.39
2.12% $500 5262.89
Century
Restrictions
2.11% $500 5200.53
2.10% $100,000 5191.78
Columbus Metro
Restrictions
2.05% $500 5189.59
Vacationland
Restrictions
2.05% $50,000 5233.36
Eaton Family
Restrictions
2.02% $500 5186.60
2.02% $10,000 5220.47
2.02% $1,000 5171.64
2.02% $100,000 5233.12
2.01% $500 5244.59
2.01% $1,000 4756.28
Trupartner
Restrictions
2.00% $500 5231.67
Day Air
Restrictions
2.00% $500 5235.53
2.00% $500 5191.78
Ukrainian
Restrictions
2.00% $500 6718.81
Vacationland
Restrictions
2.00% $500 5233.36
Telhio
Restrictions
2.00% $500 5185.30
General Electric
Restrictions
2.00% $500 5232.42
Code
Restrictions
1.98% $1,000 5240.61
1.95% $1,000 5231.12
Kemba Financial
Restrictions
1.95% $500 5189.27
Kemba
Restrictions
1.95% $500 5235.92
1.92% $500 5233.12
1.91% $500 5239.78
Ashland
Restrictions
1.90% $500 5204.63
Hancock
Restrictions
1.90% $500 5263.59
1.90% $10,000 5158.45
Abbey
Restrictions
1.90% $500 5244.91
Directions
Restrictions
1.90% $500 5288.57
Universal 1
Restrictions
1.87% $1,000 5239.14
Your Legacy
Restrictions
1.87% $500 5246.10
Community Star
Restrictions
1.85% $500 5205.50
1.85% $1,000 5270.82
1.85% $500 5184.75
Promedica
Restrictions
1.85% $500 5284.42
Seven Seventeen
Restrictions
1.84% $500 5145.02
Truliant
Restrictions
1.81% $100,000 5152.64
Taleris
Restrictions
1.80% $1,000 5188.44
Firelands
Restrictions
1.79% $500 5235.43
Heartland
Restrictions
1.76% $500 5238.48
Emery
Restrictions
1.76% $500 5229.93
Unity Catholic
Restrictions
1.76% $500 5191.42
Bridge
Restrictions
1.75% $1,000 5196.22
Community First
Restrictions
1.72% $500 5166.98
Truliant
Restrictions
1.70% $5,000 5152.64
Bay Area
Restrictions
1.70% $1,000 5276.17
Lakeview
Restrictions
1.70% $500 5167.34
Quest
Restrictions
1.67% $10,000 5246.18
Stark
Restrictions
1.66% $10,000 5154.62
1.65% $1,000 5176.75
1.61% $500 5249.78
First Service
Restrictions
1.61% $1,000 5185.33
1.61% $500 5190.10
Towpath
Restrictions
1.60% $500 5176.05
Firestone
Restrictions
1.56% $5,000 5167.69
1.55% $1,000 5185.62
1.55% $1,000 5164.91
Dover-phila
Restrictions
1.55% $500 5145.38
1.55% $500 5192.94
Bayer Heritage
Restrictions
1.51% $500 5149.42
Desco
Restrictions
1.51% $500 5149.18
Champion
Restrictions
1.51% $1,000 5287.46
1.51% $500 5170.76
Sharefax
Restrictions
1.51% $500 5218.61
Aurgroup
Restrictions
1.50% $500 5239.54
Summit
Restrictions
1.50% $500 5169.25
1.50% $500 5284.02
1.50% $500 5203.88
1.50% $500 5281.10
Cme
Restrictions
1.46% $500 5193.42
Ohio University
Restrictions
1.45% $100,000 5128.91
Ohio Catholic
Restrictions
1.45% $100,000 -
Baxter
Restrictions
1.45% $500 5204.68
Bmi
Restrictions
1.40% $500 5196.51
Usx
Restrictions
1.40% $10,000 5262.68
1.40% $500 6688.40
1.37% $10,000 5195.15
Ohio Catholic
Restrictions
1.35% $25,000 -
Three Rivers
Restrictions
1.30% $1,000 5277.27
Glass City
Restrictions
1.26% $500 5276.26
Midusa
Restrictions
1.26% $500 5236.82
Fremont
Restrictions
1.26% $1,000 5250.44
Ohio Catholic
Restrictions
1.25% $500 -
Ohio Catholic
Restrictions
1.25% $500 5165.26
Ohio University
Restrictions
1.25% $500 5128.91
Hopewell
Restrictions
1.25% $500 5170.91
1.21% $500 5232.24
Cinfed
Restrictions
1.20% $500 5230.89
Penalty for early withdrawal
Southeastern Ohio
Restrictions
1.15% $1,000 5128.36
Homeland
Restrictions
1.10% $500 5169.71
Ohio Educational
Restrictions
1.10% $500 5192.26
1.10% $1,000 5277.39
1.00% $500 5236.30
Steel Valley
Restrictions
1.00% $500 5191.78
1.00% $500 5237.32
Truecore
Restrictions
1.00% $500 5172.55
1.00% $500 5103.47
Golden Circle
Restrictions
0.93% $100,000 5155.96
Midwest Community
Restrictions
0.85% $10,000 5304.88
Atomic
Restrictions
0.80% $1,000 5160.54
0.80% $1,000 5177.46
C E S
Restrictions
0.80% $500 5185.64
0.76% $500 5182.32
Medina County
Restrictions
0.75% $1,000 5178.29
United
Restrictions
0.75% $500 5223.46
0.75% $1,000 5240.09
Cleveland Police
Restrictions
0.75% $500 5192.70
0.60% $500 5232.16
0.40% $500 5230.74
0.40% $10,000 5158.19
0.40% $1,000 5159.13
Golden Circle
Restrictions
0.40% $1,000 5155.96
Advantage
Restrictions
0.40% $500 5205.83
Lormet Community
Restrictions
0.40% $1,000 5212.72
Partners 1st
Restrictions
0.38% $500 5280.05
0.35% $500 5286.13
Bfg
Restrictions
0.25% $10,000 5169.54
0.20% $1,000 5182.55
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 2019

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.

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