Massachusetts

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Credit Union CD Rates – 3-Month – Quincy, Massachusetts 2019

Below are the best three month CD Rates in Quincy, Massachusetts, MA from hundreds of credit unions. Three month CD rates are generally the shortest term offered by credit unions and come with the lowest interest rates. You may want to consider opening a 3 month CD if the rates are comparable to a savings and money market account, you don’t need the money for the timeperiod, and you feel that savings rates will drop.

Quincy, MA - November 13, 2019

CD National Average : 0.39% ?

Advertiser Disclosure
Credit UnionS APY MIN MILES ?
Hanscom
Restrictions
1.70% $1,000 4768.51
Usalliance
Restrictions
1.60% $500 4773.70
Workers
Restrictions
1.55% $500 4810.62
Leominster
Restrictions
1.35% $1,000 4799.15
Shrewsbury
Restrictions
1.26% $1,000 4794.06
1.00% $500 4781.46
Align
Restrictions
1.00% $500 4792.39
Digital
Restrictions
0.96% $500 4788.82
Service
Restrictions
0.75% $1,000 4716.62
Gfa
Restrictions
0.60% $500 4818.47
Naveo
Restrictions
0.60% $1,000 4772.74
Webster First
Restrictions
0.55% $1,000 4794.88
First Priority
Restrictions
0.50% $1,000 4769.15
City Of Boston
Restrictions
0.50% $500 4772.91
Ohio Catholic
Restrictions
0.50% $100,000 -
Rockland
Restrictions
0.50% $500 4754.02
Members Plus
Restrictions
0.50% $500 4774.50
Liberty Bay
Restrictions
0.50% $1,000 4762.23
Ohio Catholic
Restrictions
0.40% $25,000 -
Sharon
Restrictions
0.40% $500 4764.79
St. Jean's
Restrictions
0.35% $500 4783.05
Umassfive College
Restrictions
0.30% $500 4832.16
Rtn
Restrictions
0.30% $1,000 4788.28
Arrha
Restrictions
0.30% $1,000 4822.97
Baxter
Restrictions
0.30% $500 4780.70
River Works
Restrictions
0.25% $500 4770.36
St. Mary's
Restrictions
0.25% $500 4790.17
I-c
Restrictions
0.25% $500 4808.94
Luso
Restrictions
0.25% $500 4820.67
Taunton
Restrictions
0.25% $250 4751.74
Homefield
Restrictions
0.25% $1,000 4789.95
Metro
Restrictions
0.25% $1 4770.71
0.20% $1,000 4769.62
0.20% $500 4746.22
Ohio Catholic
Restrictions
0.20% $500 -
Mass Bay
Restrictions
0.20% $500 4762.95
Crescent
Restrictions
0.15% $1,000 4757.46
First Citizens'
Restrictions
0.15% $500 4733.76
0.10% $500 4749.14
Polish National
Restrictions
0.10% $500 4825.53
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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