Michigan

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Credit Union CD Rates – 3-Month – Wyoming, Michigan 2020

Below are the best three month CD Rates in Wyoming, Michigan, MI 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.

Wyoming, MI - August 11, 2020

CD National Average : 0.18% ?

Advertiser Disclosure
Credit Unions APY MIN MILES ?
0.75% $10,000 5414.18 Learn More
West Michigan
Restrictions
0.75% $100,000 5426.11 Learn More
0.65% $100,000 5413.79 Learn More
0.60% $100,000 5363.39 Learn More
0.50% $10,000 5413.79 Learn More
Ohio Catholic
Restrictions
0.50% $100,000 - Learn More
Lake Michigan
Restrictions
0.50% $10,000 5428.91 Learn More
Tlc Community
Restrictions
0.45% $10,000 5311.62 Learn More
Frankenmuth
Restrictions
0.45% $100,000 5354.29 Learn More
Wings Financial
Restrictions
0.45% $100,000 5295.38 Learn More
Financial Plus
Restrictions
0.45% $10,000 5338.54 Learn More
Ohio Catholic
Restrictions
0.40% $25,000 - Learn More
0.40% $10,000 5408.63 Learn More
Covantage
Restrictions
0.40% $10,000 5662.59 Learn More
Wings Financial
Restrictions
0.40% $10,000 5295.38 Learn More
0.35% $10,000 5363.39 Learn More
Lafcu
Restrictions
0.35% $10,000 5371.99 Learn More
Muskegon Co Op
Restrictions
0.30% $10,000 5460.62 Learn More
St. Francis X
Restrictions
0.30% $100,000 5485.44 Learn More
Circle
Restrictions
0.30% $10,000 5408.59 Learn More
Family First
Restrictions
0.30% $10,000 5366.83 Learn More
Lake Trust
Restrictions
0.30% $10,000 5366.54 Learn More
0.25% $10,000 5424.88 Learn More
Parda
Restrictions
0.25% $10,000 5306.28 Learn More
Forest Area
Restrictions
0.25% $10,000 5471.15 Learn More
Family Financial
Restrictions
0.25% $10,000 5483.88 Learn More
Dfcu Financial
Restrictions
0.25% $100,000 5291.87 Learn More
Team One
Restrictions
0.25% $10,000 5366.16 Learn More
Soo Co-op
Restrictions
0.25% $10,000 5505.15 Learn More
West Michigan
Restrictions
0.25% $10,000 5426.11 Learn More
Zeal
Restrictions
0.25% $100,000 5300.18 Learn More
Intouch
Restrictions
0.25% $1,000 5306.77 Learn More
Wanigas
Restrictions
0.25% $10,000 5365.10 Learn More
St. Francis X
Restrictions
0.20% $10,000 5485.44 Learn More
Straits Area
Restrictions
0.20% $10,000 5476.71 Learn More
Ohio Catholic
Restrictions
0.20% $500 - Learn More
0.20% $10,000 5303.27 Learn More
Frankenmuth
Restrictions
0.20% $10,000 5354.29 Learn More
Bloom
Restrictions
0.20% $100,000 5424.98 Learn More
Kent County
Restrictions
0.20% $10,000 5425.67 Learn More
Zeal
Restrictions
0.20% $10,000 5300.18 Learn More
Delta County
Restrictions
0.20% $10,000 5594.16 Learn More
Credit Union One
Restrictions
0.20% $100,000 5293.39 Learn More
Community Choice
Restrictions
0.20% $10,000 5304.53 Learn More
Loc
Restrictions
0.15% $500 5304.28 Learn More
Northland Area
Restrictions
0.15% $100,000 5380.59 Learn More
Unify Financial
Restrictions
0.15% $10,000 5311.04 Learn More
Dfcu Financial
Restrictions
0.15% $10,000 5291.87 Learn More
0.15% $10,000 5433.85 Learn More
0.15% $10,000 5422.07 Learn More
South Central
Restrictions
0.15% $10,000 5343.43 Learn More
0.15% $10,000 5296.61 Learn More
0.15% $10,000 5736.00 Learn More
Cp
Restrictions
0.14% $10,000 5342.83 Learn More
0.14% $10,000 5370.27 Learn More
United
Restrictions
0.10% $10,000 5428.52 Learn More
Awakon
Restrictions
0.10% $10,000 5454.55 Learn More
Northland Area
Restrictions
0.10% $10,000 5380.59 Learn More
Copoco Community
Restrictions
0.10% $10,000 5371.48 Learn More
Lenco
Restrictions
0.10% $10,000 5311.23 Learn More
Community West
Restrictions
0.10% $10,000 5416.14 Learn More
Sunrise Family
Restrictions
0.10% $10,000 5368.39 Learn More
0.10% $10,000 5409.85 Learn More
Blueox
Restrictions
0.10% $10,000 5378.89 Learn More
Bloom
Restrictions
0.10% $10,000 5424.98 Learn More
Honor
Restrictions
0.10% $10,000 5417.61 Learn More
American 1
Restrictions
0.10% $10,000 5301.62 Learn More
0.10% $10,000 5305.03 Learn More
Advia
Restrictions
0.05% $10,000 5282.76 Learn More
Credit Union One
Restrictions
0.05% $10,000 5293.39 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.

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