Norfolk Federal Credit Union?understands the primary difference between a certificate of deposit (CD) and traditional savings account. The CD, while also a savings vehicle, offers higher interest rates in exchange for less liquidity.
Individuals who opt for a CD want to know that they will have access to the best interest rates on the market. Norfolk Federal is honoring this wish by providing its members with a very competitive?2-year CD rate?of 0.90% APY.
2-Year CD Rate: Terms and Conditions
Norfolk Federal Credit Union is offering its impressive 2-year CD rate to individuals who deposit a minimum of $1,000 into the account. Once the funds are deposited, they should not be withdrawn prior to the predetermined maturity date. If funds are withdrawn prematurely, the credit union may impose a penalty. Contact the financial institution for more information.About Norfolk Federal Credit Union
Norfolk Federal Credit Union?opened its doors in 1936 as the Norfolk Teachers Association Federal Credit Union. It was founded by a group meeting in a small kitchen in an African-American neighborhood.
Since getting its early start, the credit union has since grown considerably from savings of $21 to over $5 million. Norfolk Federal Credit Union provides its depositors with federal insurance of up to $250,000 per depositor thanks to coverage provided by the NCUA.
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.
Source: http://www.gobankingrates.com/cd-rates/2-year-cd/norfolk-federal-credit-union/
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