Alabama

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Credit Union CD Rates – 6-Month – Enterprise, Alabama 2020

Below are the best six month CD Rates from credit unions in Enterprise, Alabama. Six month CDs are considered short-term cds and the yield is comparable to savings and money market rates. You may want to consider opening a 6 month CD if you are concerned about savings rates dropping and don’t mind locking up your money for six months.

Enterprise, AL - April 9, 2020

6 Month CD National Average : 0.44% ?

Advertiser Disclosure
Credit Unions APY MIN MILES ?
1.75% $500 5150.54
1.61% $500 5087.59
1.51% $1,000 5083.46
Guardian
Restrictions
1.41% $500 5090.86
Five Star
Restrictions
1.41% $500 5013.95
All In
Restrictions
1.41% $1,000 5031.90
Pen Air
Restrictions
1.40% $500 5105.13
Max
Restrictions
1.40% $500 5099.08
1.40% $100,000 5087.12
1.35% $10,000 5087.12
Riverfall
Restrictions
1.26% $500 5177.51
1.25% $500 5230.84
Listerhill
Restrictions
1.21% $500 5226.70
1.15% $1,000 5151.23
Dch
Restrictions
1.10% $500 5174.90
Mtc
Restrictions
1.10% $10,000 5019.51
Honda
Restrictions
1.06% $10,000 5122.56
Alabama Teachers
Restrictions
1.06% $1,000 5128.72
Acipco
Restrictions
1.00% $1,000 5153.16
Alabama One
Restrictions
1.00% $1,000 5174.75
Service 1
Restrictions
1.00% $500 5125.57
1.00% $500 5150.49
1st Resource
Restrictions
1.00% $1,000 5150.44
Alabama
Restrictions
1.00% $500 5175.74
Florence
Restrictions
0.95% $500 5233.02
Jm Associates
Restrictions
0.80% $50,000 5131.81
0.75% $500 5109.39
0.75% $1,000 5057.31
Jm Associates
Restrictions
0.75% $1,000 5131.81
Coosa Pines
Restrictions
0.75% $500 5121.60
Family Security
Restrictions
0.75% $1,000 5194.12
0.75% $500 5177.53
Navigator Cu
Restrictions
0.70% $1,000 5131.92
Aod
Restrictions
0.69% $500 5114.18
0.65% $500 5155.21
Heritage South
Restrictions
0.65% $1,000 5115.79
Kinetic
Restrictions
0.65% $500 5036.14
Mutual Savings
Restrictions
0.65% $1,000 5144.80
Ohio Catholic
Restrictions
0.65% $100,000 -
Winsouth
Restrictions
0.60% $1,000 5130.51
Singing River
Restrictions
0.60% $1,000 5127.49
0.60% $500 5151.23
Family Savings
Restrictions
0.50% $500 5128.22
Valley
Restrictions
0.50% $500 5231.22
Legacy Community
Restrictions
0.50% $500 5149.61
0.50% $500 5191.28
America's First
Restrictions
0.50% $500 5143.08
Eco
Restrictions
0.50% $1,000 5151.21
Avadian
Restrictions
0.50% $1,000 5136.49
Ohio Catholic
Restrictions
0.50% $25,000 -
Social Security
Restrictions
0.50% $1,000 5151.47
Tyndall
Restrictions
0.45% $1,000 5015.86
Redstone
Restrictions
0.45% $1,000 5181.88
0.45% $1,000 5177.76
0.40% $500 5034.31
New Horizons
Restrictions
0.30% $500 5129.55
0.25% $500 5151.30
Alatrust
Restrictions
0.25% $1,000 5146.40
0.20% $1,000 5151.13
Four Seasons
Restrictions
0.20% $500 5057.86
Ohio Catholic
Restrictions
0.20% $500 -
Mobile Educators
Restrictions
0.15% $5,000 5128.84
0.13% $1,000 5089.11
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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