Best Credit Union CD Rates

When you want to stash your cash over a long period, you'll find the best CD rates at Bellco Federal Credit Union in Berks County, Pennsylvania.

Banks, by design, generate profits for shareholders. On the other hand, credit unions work for the members-owners as nonprofit organizations. Bellco FCU offers the same services as for-profit banks, including checking and savings, mortgage products, credit cards, and business services, but we do so with greater flexibility, better rates, fewer fees, and a fundamentally different purpose.

In 1938, Bell Telephone Credit Union came together as the employees of Bell Telephone Company decided to work together to help one another build their financial lives. Nearly a century later, this credit union continues in its evolved form: Bellco Federal Credit Union. If you have an immediate family member in the credit union, or if you work, live, attend school, or worship in Berks County, you can become a joint owner-member yourself. A nominal $5 deposit into a Member Savings account establishes your membership, with access to our services, products, and educational opportunities.

Understanding CDs and Rates

A Certificate of Deposit (CD) is a financial product that provides a prescribed rate of return when you deposit a specified amount for a specific term. CDs are significantly higher in return rates than savings accounts, but they lack the freedom of withdrawal that savings accounts provide. The maturity date will be when you can withdraw your money with no fee and earn all the interest on the deposit. Early withdrawal of your funds will require you to pay a penalty, and the rate you earn generally rises with the amount of time you plan to leave your money on deposit.

Save with a CD Ladder Strategy

The CD Ladder Strategy allows savers to mitigate problems they might encounter by putting all their savings into one Certificate of Deposit (CD). A laddering strategy involves depositing into several CDs with different term lengths. The CDs will mature at different times, and you'll benefit from having some protection from the variability of rates over time.

Consider this example of depositing $10,000 into a ladder of CDs.

  • $2k each in a 6-, 12-, 18-, and 24-month CD

  • As each CD matures, re-deposit those funds into a 24-CD

  • Ready cash will be available every six months if needed

As you choose a source for CDs, you'll want to consider the earnings rate, safety, flexibility, and minimum deposit. Bellco FCU CDs offer all of the following:

  • Longer terms equal higher return rates

  • Terms ranging from 6 months - 5 years (60 months)

  • No fees for opening or maintaining the CD

  • $500 minimum deposit

  • Early withdrawals will be subject to a penalty

Depending on your plans and needs, a CD may not be the best choice.

  • Savings accounts pay interest, and you can withdraw your money as needed. However, the interest rates are lower than those of a CD.

  • Money Market Accounts are like savings accounts, with interest rates rising with the balance in the account.

Bellco Federal Credit Union CD rates allow you to reap the largest return without risk. Contact us today to establish a Certificate of Deposit or take advantage of our services and products.