12-Month CD Interest Rates Deal of the Day: Southwest Heritage Credit Union at 0.55% APY
Certificates of deposit (CDs) are unique among deposit accounts because, unlike savings and money market accounts that typically reward customers with higher interest rates based on dollar amounts saved, certificates offer high CD interest rates to depositors who save over a longer period of time.
But in some instances, financial institutions reward customers with high rates, even if their money is saved over a shorter period of time. An example of this type of deal is the impressive 0.55% APY from a Southwest Heritage Credit Union CD rate,which is associated with a shorter-term 12-month account.
Southwest Heritage Credit Union CD Interest Rates: Terms and Conditions
Getting started with the CD account from Southwest Heritage Credit Union is as simple as making the required $1,000 opening deposit. The penalty for early withdrawal is 90 days for a 12-month term. Interest is paid on accounts monthly.
Long-term members of the credit union can benefit from higher CD interest rates based on their length of time as members (3-year membership = 0.10% rate increase, 5-year membership = 0.15% rate increase, 10-year membership = 0.20% rate increase).
About Southwest Heritage Credit Union
Southwest Heritage Credit Union was formed in 1949 as a member-owned, not-for-profit financial cooperative, offering share and loan services to 35 original members. More than 60 years later, the credit union has grown to a membership of over 6,000 with assets in excess of $51 million.
Membership to Southwest Heritage Credit Union is open to anyone who lives, works or worships in Ector or Midland County in Texas. Deposit accounts benefit from federal insurance of up to $250,000 per depositor from the NCUA. Branches are located in Odessa, Texas.
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Other Terms and Conditions may apply. Additionally, interest rates are based on the institution’s online published rates and may have changed since this offer was posted. Please contact the financial institution for the most recent rate updates and to review the terms of the offer.