Genisys Credit Union Promotion: 7-Month CD 5.51% APY

Genisys Credit Union has recently introduced a 7-month Share Certificate Special, offering a near rate-leading APY of 5.51%.

This special deal requires a minimum deposit of $500 and is available to members nationwide, marking it as a highly accessible and attractive option for savers.

READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.

Genisys Credit Union 7-Month CD Account Offer

The 7-month Share Certificate Special features:

• A 5.51% Annual Percentage Yield (APY).
• A minimum deposit of $500 with no maximum cap.
• An early withdrawal penalty equivalent to 90 days of dividends.

In addition to this offer, Genisys Credit Union also provides various other Share Certificate Specials with competitive rates, including a 14-month Flex Share Certificate at 5.15% APY.

This particular certificate allows unlimited additional deposits, a one-time rate bump, and a one-time partial penalty-free withdrawal.

APY rates were last updated on January 18, 2024.

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Early Withdrawal Penalty and Flex Share Certificate Details

• The penalty for early withdrawal from certificates with a term of 14 months or less is 90 days of dividends.
• Partial withdrawals are permitted, but any withdrawal within the first three months can reduce the principal balance.
• The 14-month Flex Share Certificate allows additional deposits ranging from $10 to $25,000 per day, a one-time option to change the rate, and a one-time withdrawal of up to 25% of the principal with no penalty.

Availability and Account Opening

• Membership is available to any U.S. citizen with a valid Social Security number who makes a $5 contribution to select organizations or meets other eligibility criteria.
• Account opening can be done online, over the phone, or in-person at various branches across Michigan, Minnesota, and Pennsylvania.

Funding and Other Details

• Funding options include ACH, wire transfer, internal transfer, and Shared Branch transactions.
• Dividends are compounded and credited quarterly, and can be reinvested or transferred to another Genisys account.
• Beneficiaries can be added with unlimited numbers and equal shares, requiring Social Security numbers.

Credit Union Overview

Genisys Credit Union was founded as the General Motors Truck & Coach Federal Credit Union in 1936.

It has undergone several rebrands and is now the fourth-largest credit union in Michigan, with assets exceeding $4.6 billion.

Our Take on the Offer

The Genisys Credit Union 7-month Share Certificate Special, with its competitive APY of 5.51%, is an excellent choice for savers seeking a short-term investment with a high return.

The low minimum deposit requirement makes it accessible to a wide range of investors.

The Flex Share Certificate also offers unique features like additional deposits and a rate bump, further enhancing its appeal.

Overall, Genisys Credit Union’s offerings are attractive for those looking for flexibility and strong returns in their savings strategy.

READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.