2010 CD Study
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CD early withdrawal: Credit union

Bankrate.com's CD early withdrawal penalty study looked at five of the most common maturities and liquid CDs. This chart gives you an easy way to compare CD offerings by institution, metropolitan area and maturity as of the date of the survey.

In addition, the chart states the minimum deposit required to open an account, the yield to maturity, the institution's stated penalty for early withdrawal, the reduction in principal if the unpaid interest is less than the penalty, the grace period on automatically renewable CDs and whether the early withdrawal penalties are the same for retirement CDs.

CD early withdrawal penalty comparison
11. Credit Union
InstitutionMinimum depositYield
%
Penalty for early withdrawalGrace period on automatically renewable CDsEarly withdrawal penalties same for retirement CDs?
Navy Federal CU$2,5000.990 days interest14 daysYes -- 90 days interest
State Employees CU (NC)$250290 days interest earned or all interest earned, whichever is less14 daysN/A
Pentagon Federal CU$1,0001180 days interest or all interest earned, whichever is lessNo grace periodN/A
SchoolsFirst FCU$5000.9590 days interest7 daysYes -- 9 days interest
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Product Rate Change Last week
1 Year CD 0.90%  0.02 0.88%
2 Year CD 1.02%  0.01 1.03%
5 Year CD 1.59%  0.01 1.60%
 
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