Star One Credit Union offers three certificate terms: six months, one year and two years. Each certificate requires a $2,500 minimum deposit and pays a competitive yield. Earned interest can be transferred to a Star One checking or savings account, or a check can be mailed to the account holder. The limited term options are ideal for savers looking for a temporary place to keep their cash, but savers with longer-term goals may want to seek out alternatives.
Star One doesn't offer any specialty certificates, such as a no-penalty or bump-up account.
Withdrawals of at least $1,000 can be made without closing a CD account, as long as minimum balance requirements are met. Premature withdrawals are subject to an early withdrawal penalty, which is higher than some other online banks and credit unions. On six-month CD, the penalty is 90 days worth of dividends, and one- and two-year CDs are subject to a penalty of 180 days’ dividends.