Michigan

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Credit Union CD Rates – 4-Year – Michigan 2019

Below are four year CD Rates from credit unions in Michigan. Four Year Certificates of Deposit (CD) are not as popular as the three and five year terms which means the rates often aren’t as competitive. The best four year cd rates are often only marginally above the 3 year rates. Nevertheless, for those who want to lock in a rate for a longer period of time, 4 year cds are worth a look.

MI - July 19, 2019

4 Year CD National Average : 1.51% ?

Advertiser Disclosure
Credit UnionS APY MIN MILES ?
Kellogg Community
Restrictions
3.15% $50,000 -
Security
Restrictions
3.00% $1,000 -
2.95% $5,000 -
Dort
Restrictions
2.90% $1,000 -
Case
Restrictions
2.90% $500 -
2.85% $50,000 -
Safe Harbor
Restrictions
2.85% $1,000 -
2.85% $1,000 -
2.84% $1,000 -
Members First
Restrictions
2.81% $1,000 -
2.81% $100,000 -
2.80% $100,000 -
Kellogg Community
Restrictions
2.80% $500 -
Wildfire
Restrictions
2.80% $2,000 -
Muskegon
Restrictions
2.78% $500 -
Port City
Restrictions
2.78% $500 -
2.76% $100,000 -
Tlc Community
Restrictions
2.75% $1,000 -
Gerber
Restrictions
2.75% $1,000 -
Muskegon Co Op
Restrictions
2.75% $500 -
Elga
Restrictions
2.75% $1,000 -
Lafcu
Restrictions
2.75% $10,000 -
2.75% $1,000 -
First Area
Restrictions
2.75% $500 -
Saginaw Medical
Restrictions
2.74% $500 -
Filer
Restrictions
2.73% $25,000 -
2.73% $1,000 -
Astera
Restrictions
2.70% $500 -
Peninsula
Restrictions
2.70% $1,000 -
Lake Huron
Restrictions
2.69% $500 -
Family Financial
Restrictions
2.68% $500 -
Filer
Restrictions
2.68% $1,000 -
Oakland County
Restrictions
2.68% $500 -
Wanigas
Restrictions
2.68% $500 -
Directions
Restrictions
2.65% $500 -
Lafcu
Restrictions
2.65% $10,000 -
2.63% $500 -
First General
Restrictions
2.63% $500 -
2.63% $500 -
2.63% $10,000 -
Wings Financial
Restrictions
2.63% $90,000 -
2.60% $500 -
2.60% $500 -
Team One
Restrictions
2.60% $500 -
Community Focus
Restrictions
2.60% $1,000 -
Family First
Restrictions
2.60% $1,000 -
2.60% $500 -
Credit Union One
Restrictions
2.58% $100,000 -
2.57% $500 -
Wings Financial
Restrictions
2.57% $10,000 -
2.55% $500 -
Intouch
Restrictions
2.55% $1,000 -
Financial Plus
Restrictions
2.55% $500 -
Journey
Restrictions
2.55% $500 -
Service 1
Restrictions
2.55% $500 -
2.53% $500 -
Loc
Restrictions
2.53% $500 -
Our
Restrictions
2.53% $500 -
Gratiot Community
Restrictions
2.53% $5,000 -
2.50% $2,000 -
Best Financial
Restrictions
2.50% $500 -
2.50% $500 -
Adventure
Restrictions
2.50% $500 -
Genisys
Restrictions
2.50% $500 -
Community West
Restrictions
2.50% $500 -
St. Francis X
Restrictions
2.50% $500 -
Covantage
Restrictions
2.50% $1,000 -
Wings Financial
Restrictions
2.48% $90,000 -
Blueox
Restrictions
2.43% $25,000 -
Wings Financial
Restrictions
2.42% $10,000 -
Unify Financial
Restrictions
2.40% $1,000 -
2.38% $100,000 -
Wings Financial
Restrictions
2.37% $500 -
Frankenmuth
Restrictions
2.35% $500 -
Lake Trust
Restrictions
2.32% $10,000 -
Blueox
Restrictions
2.32% $10,000 -
Omni Community
Restrictions
2.30% $100,000 -
Harborlight
Restrictions
2.30% $500 -
Michigan First
Restrictions
2.28% $10,000 -
2.27% $500 -
Lenco
Restrictions
2.27% $3,000 -
Delta County
Restrictions
2.27% $1,000 -
Cp
Restrictions
2.27% $500 -
Embers
Restrictions
2.27% $1,000 -
American 1
Restrictions
2.25% $500 -
2.22% $1,000 -
Credit Union One
Restrictions
2.17% $2,500 -
Tba
Restrictions
2.12% $500 -
Forest Area
Restrictions
2.12% $500 -
Preferred
Restrictions
2.07% $10,000 -
Omni Community
Restrictions
2.05% $1,000 -
Great Lakes First
Restrictions
2.02% $1,000 -
Alliance Catholic
Restrictions
2.00% $500 -
4front
Restrictions
1.86% $100,000 -
1.76% $500 -
1.76% $1,000 -
My Personal
Restrictions
1.75% $500 -
Advantage One
Restrictions
1.75% $1,000 -
Kalsee
Restrictions
1.75% $10,000 -
Integra First
Restrictions
1.72% $500 -
4front
Restrictions
1.71% $1,000 -
1.68% $500 -
1.65% $500 -
Advia
Restrictions
1.65% $500 -
People Driven
Restrictions
1.60% $500 -
United Financial
Restrictions
1.60% $500 -
1.56% $500 -
1.51% $10,000 -
Sunrise Family
Restrictions
1.51% $1,000 -
Northland Area
Restrictions
1.51% $500 -
Aeroquip
Restrictions
1.50% $1,000 -
Aac
Restrictions
1.50% $500 -
Zeal
Restrictions
1.50% $1,000 -
Parda
Restrictions
1.41% $500 -
Public Service
Restrictions
1.40% $10,000 -
Meijer
Restrictions
1.40% $500 -
1.36% $500 -
South Central
Restrictions
1.36% $500 -
United
Restrictions
1.30% $500 -
Honor
Restrictions
1.30% $50 -
Lake Michigan
Restrictions
1.30% $500 -
Community Choice
Restrictions
1.30% $500 -
Baraga County
Restrictions
1.26% $1,000 -
Kent County
Restrictions
1.21% $500 -
1.21% $1,000 -
Copoco Community
Restrictions
1.01% $5,000 -
West Michigan
Restrictions
0.95% $500 -
0.90% $1,000 -
Tri-cities
Restrictions
0.90% $1,000 -
0.85% $500 -
0.80% $500 -
0.55% $1,000 -
Credit Union One
Restrictions
0.50% $500 -
Arbor Financial
Restrictions
0.40% $500 -
0.25% $500 -
0.25% $1,000 -
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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