Greenwood Credit Union, based in Rhode Island, is offering an appealing 9-month CD with a notable 4.00% APY.
This offer, which requires a minimum deposit of $1,000, is accessible to all U.S. citizens and resident aliens, making it an attractive option for a wide range of savers.
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
Greenwood Credit Union 9 Month CD Offer
The primary features of the 9-month CD include:
- A competitive Annual Percentage Yield (APY) of 4.00%.
- The CD is available for a minimum opening deposit of $1,000, with no stated maximum limit.
- The CD is also offered as an IRA option (Traditional, Roth, CESA, SEP) with the same APY and deposit requirements.
Early Withdrawal Penalty
Greenwood Credit Union imposes an early withdrawal penalty equivalent to six months of interest, regardless of the CD term. This penalty is relatively high for a 9-month CD, as it effectively reduces potential earnings if funds are withdrawn before maturity.
Trending Checking Account Deal:
Availability and Account Opening
Greenwood Credit Union’s field of membership is open to all U.S. citizens and resident aliens who have a valid Social Security number. The only requirement for membership is to open and maintain a Share Account with a minimum balance of $5.00. Accounts can be opened online or at the sole Rhode Island branch in Warwick.
Funding and Other Details
- Funding options include ACH, check, debit/credit card (up to $1k), or internal transfer.
- The CD can be opened as an individual, joint, or trust account.
- Dividends are compounded daily and credited monthly, with the option to withdraw dividends without penalty.
- Beneficiaries can be added with unlimited numbers and assigned percentages.
TRENDING DEAL:
Disclaimers:
The Annual Percentage Yield (APY) is accurate as of 12/5/2025. The base and promotional interest rate and corresponding APY for Axos ONE® Checking is variable and is set at our discretion. The base and promotional interest rate and corresponding APY for Axos ONE® Savings is variable and is set at our discretion. Axos ONE® Savings is a tiered variable rate account. Axos ONE® Checking is a non-tiered variable rate account. Interest rates may change as often as daily without prior notice. Fees may reduce earnings.Promotional terms and conditions are subject to change or removal without notice. Incentive may be taxable and reported on IRS Form 1099-MISC. Consult your tax advisor. After the accounts are opened, the amount of incentive earned will depend on meeting the additional requirements outlined below.The Axos ONE® Checking account will earn a base rate of 0.00% APY. The Axos ONE® Savings account will earn a base rate of up to 1.00% APY.Axos ONE® accounts are eligible to receive a promotional APY for each statement cycle where the promotional criteria are met during the Qualification Period. To receive the promotional APY on both Axos ONE® Checking and Axos ONE® Savings, the Axos ONE® Checking account must meet both of the requirements in either Option 1 or Option 2 below during the Qualification Period:Option 1Your Axos ONE® Checking account has received monthly qualifying direct deposits of at least $1,500 in total.The average daily balance of your Axos ONE® Checking account is at least $1,500.Option 2Your Axos ONE® Checking account has received monthly qualifying deposits of at least $5,000 in total.The average daily balance of your Axos ONE® Checking account is at least $5,000.If both of the requirements in either Option 1 or Option 2 above are met during the Qualification Period:The Axos ONE® Checking account will earn a promotional rate of 0.51% APY for the statement cycle in which the requirements are met.The Axos ONE® Savings account will earn a promotional rate of up to 4.31% APY for the statement cycle in which the requirements are met.The Qualification Period begins on the first business day of the month and runs through the 25th of the month. If the 25th of the month is followed by a non-business day, the average daily balance will be calculated including the following non-business day(s). Any qualifying deposits or qualifying direct deposits received after the 25th of the month will count toward the next Qualification Period. The Qualification Period for new accounts will begin on the day the account is approved. New accounts opened on or after the 25th of the month will be eligible to earn the promotional APY starting in the following month.A direct deposit is an electronic deposit of your paycheck or government benefits, such as Social Security, Disability, etc. International paychecks, international government benefits, other deposits (i.e., online banking transfers, ATM and mobile check deposits, etc.), or person-to-person payments are not considered a direct deposit.Qualifying deposits only include deposits from the following eligible sources: (i) ACH transfers from external accounts, (ii) inbound wire transfers from external accounts, (iii) check deposits. Qualifying deposits do not include: (i) transfers internal to the bank (i.e., transfers between an account holder’s Checking and/or Savings account), (ii) interest payments, (iii) promotional bonuses, (iv) credits, reversals, and refunds.Both accounts must be in an open and active status on the 25th of the month and on the date the interest is paid to receive the promotional APY for that statement cycle. If either account closes during the Qualification Period, neither account will be eligible to earn the promotional APY for that statement cycle. Account transactions may take one or more business days from the transaction date to post to the account. Show Less
Credit Union Overview
Greenwood Credit Union was established in 1948. The credit union has grown significantly, now serving more than 59,000 members with assets exceeding $842 million.
Initially serving the City of Warwick, its field of membership has expanded to include all U.S. citizens and resident aliens.
READ MORE: FIND MORE DEALS HERE.
Our Take on the Offer
Greenwood Credit Union’s 9-month CD is a solid choice for those looking for a short-term investment with a high yield.
The 5.50% APY is competitive, especially in the current market.
The broad availability and easy membership requirement make this offer accessible to savers nationwide.
However, potential members should consider the relatively steep early withdrawal penalty, particularly given the short duration of the CD.
Overall, this CD is a strong option for those seeking a balance between a short-term commitment and a competitive rate.
See more:
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
Frequently Asked Questions
Q: Can anyone join Greenwood Credit Union? A: Yes, Greenwood Credit Union’s membership is open to all U.S. citizens and resident aliens with a valid Social Security number.
Q: Is there a maximum deposit limit for the 9-month CD? A: There is no stated maximum deposit limit for the 9-month CD.
Q: How can I fund the CD? A: You can fund the CD via ACH, check, debit/credit card (up to $1k), or internal transfer.
Q: Can I withdraw the interest earned without penalty? A: Yes, the interest earned on the CD can be withdrawn without penalty.
Q: Is there a branch location where I can open the CD in person? A: Yes, you can open the CD at Greenwood Credit Union’s sole branch in Warwick, Rhode Island.
Q: What happens if I need to withdraw my money early? A: Early withdrawal from the CD will incur a penalty equivalent to six months of interest.
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