Securityplus Federal Credit Union, 8-Month CD with 6.00% APY

Securityplus Federal Credit Union, 8-Month CD with 6.00% APY

Update: Referrals are now up to $100. Additionally, they will offer a limited time 8-Month CD with 6.00% APY from November 20-30, 2023. (HT: Chin)

Original article: Securityplus Federal Credit Union has a 11-month CD with a rate of 6.00% APY. This is the best deal out there for a CD, if you don’t mind your money being locked in for 11 months.

To open an account, you can call Securityplus Federal Credit Union at 410-281-6200 or by visiting a branch. All branches are located in MD, but it looks like anyone can join and open an account. 

Minimum opening deposit of $1,000, and must be maintained throughout the share certificate term. There’s a $50,000 maximum deposit. You can also fund with a credit card for up to $2,000.

PROMO PAGE

Before you can open a CD, you need to join Securityplus, complete a membership application and make a $5.00 minimum deposit to open your Shared Shavings account. Securityplus membership is open to:

• anyone who lives, works, worships, or attends school in Baltimore City
• family members or household member of an existing credit union member
• individuals who are employed or retired from one of our Select Employee Groups
• any consumer who may be eligible to join the credit union through the American Consumer Council (ACC)

And you can earn a $50 Amazon gift card when you first join, if you apply through a referral link. You’re welcome to share referrals in the comments below.

Offer Terms

• This promotional offer is limited to one share certificate per member.
• IRA share certificates are subject to IRS contribution limits.
• Early withdrawal penalties may apply. 
• At maturity, unless instructed otherwise, all 11-month share certificates will automatically renew at the 12-month share certificate rate and term in effect at the time of renewal.
• Membership eligibility is required. 

Guru’s Wrap-up

This is a great APY, but there are some hoops to jump through, and there’s a limit of $50,000. But if everything works out, it is a great return. You can also check out other high-yield accounts here.

Let me know how it works out for you!

HT: DoC