Certificates
Certificates are safe, stable savings options that allow you to lock in a fixed dividend rate for the term of the certificate. They generally offer a higher dividend rate than Savings or Money Market accounts. No member of a federally insured credit union has ever lost one penny of insured savings.
To learn more about NCUA view these brochures:
- NCUA How Your Accounts are Federally Insured (Spanish version)
- Understanding your share of insurance protection
- Please click here for a link to NCUA’s Share Insurance Estimator
How to set up a CD.
Contact the Credit Union and schedule an appointment with one of our Financial Services Representatives by calling 941-748-7704 and they can help you every step of the way.
- If you are not a member yet please join us. Click here to become a member.
- Send in a copy of your valid ID and signed membership application either by fax (941-748-7620), email, or mail your information to: Financial Access Federal Credit Union, 604 13th Avenue East, Bradenton, FL 34208.
There are several types of CDs:
Traditional Certificate of Deposit
- Competitive Rates
- $1000 minimum deposit
- Dividends transferred or disbursed by check
- Maturity dates range 6 months to 24 months
- Early withdrawal*
- Automatic Renewal
- Notification prior to maturity
*Penalty for early withdrawal
IRA Certificates
- Competitive Rates
- $1000. Minimum deposit
- Dividends retained in Certificate
- Notification prior to maturity
| Certificates | ||||
| Effective Date: Thursday, April 25th, 2024 | ||||
| Name | Minimum Deposit to Open Account | Minimum Balance to Obtain Dividend | Rate | APY* |
| 6 Month Certificate - Regular | $1,000 | $1,000 | 4.000%2 | 4.060%3 |
| 12 Month Certificate - Regular (IRA 12 Month) | $1,000 | $1,000 | 4.500%2 | 4.577%3 |
| $10,000 | $10,000 | 4.500%2 | 4.577%3 | |
| 24 Month Certificate - Regular or IRA | $1,000 | $1,000 | 4.250%2 | 4.318%3 |
| $10,000 | $10,000 | 4.250%2 | 4.318%3 | |
2 If you withdraw any principal before the maturity date, the following penalty will be assessed: 1 to 12 month Certificate....a penalty equal to 90 days dividends on the funds withdrawn [earned or not]; 13 to 24 month Certificate....a penalty equal to 180 days dividends on the funds withdrawn [earned or not]. FAFCU uses the daily balance method to calculate dividends on your account. This method applies a daily periodic rate to the principal in the account each day. 3 APY means a percentage rate reflecting the total amount of dividends that will be paid on an account, based on the dividend rate and frequency of compounding for a 365-day period. The APY is based on the assumption that dividends will remain on deposit. A withdrawal will reduce earnings. Dividends begin to accrue on the business day you make your deposit as long as the minimum balance to obtain the APY is met. Dividends are compounded and credited quarterly on the last day of March, June, September, December, and at maturity, as in the case of Certificates; [and on the last day of the month on Checking Plus] Service Charges and other conditions can reduce the earnings on your account. Dividend rates and APY are accurate as of the date stated on this Rate Sheet. Ask an employee or call us at 748-7704 for further information about applicable service charges, current rates, account conditions or to receive a particular account disclosure and/or accounts agreement. Member accounts are federally insured up to $250,000 by the National Credit Union Share Insurance Fund. IRA accounts are insured up to $250,000. | ||||