McGraw Hill Federal Credit Union offers competitive interest rate mid-mid term and long term certificates of deposit. This money in the bank deal has the following current CD rates:

$1,000 to $9,999.99

• 12 months      0.55% APY
• 24 months      1.00% APY
• 36 months      1.20% APY
• 48 months      1.50% APY
• 60 months      1.75% APY

$10,000 and above

• 12 months      0.75% APY
• 24 months      1.10% APY
• 36 months      1.40% APY
• 48 months      1.75% APY
• 60 months      2.25% APY

The credit union provides a wide array of terms for their certificate of deposit account and it ranges from 3 to 60 months term. The minimum opening balance is $1,000 or more, you also need to maintain this balance or have a higher deposit to earn these best CD rates. Take note that the current CD rates is subject to change anytime without prior notice.

In case you decide to make a withdrawal before the maturity date, be ready to shoulder the penalty which will be imposed on to your account. The early withdrawal penalty are as follows: for 1 year or less certificate of deposit term the penalty is equal to 90 days of dividends; for certificate of deposit accounts with more than 1 year term the penalty is equal to 180 days of dividends.

You need to keep your account open for at least 90 days from opening to avoid the $10 early closure fee. Automatic renewal also applies to your certificate of deposit account. You will have a 7 days grace period to make any changes on your account or if you just want to permanently close your CD account without being charge of any penalties. After this, the certificate of deposit account will automatically renew.

This CD account gives you free online banking access which allows you to pay bills, view account balances , transaction history, view account statement, and even deposit checks at home. You can also take advantage of their Finance Works which is a budgeting tool that gives you full control of your money. Another feature is their telephone banking which is open 24/7 to serve you, and finally their mobile banking that allows you to monitor your account at the same time search for the closes ATM thru internet mobile device.

According to the credit union’s website their membership is only open to individuals who are associated with one of their select employer groups, you can get the list by calling the credit union. If you still do not qualify, you can join the VOICE Foundation which only requires $25 membership fee. To know more about their membership eligibility, you may call McGraw Hill Federal Credit Union at 800-226-6428.

You have two options to apply for membership, first is to mail your application. The best option is to visit the credit union’s office to apply. McGraw Hill Federal Credit Union has 3 branches in New York, New York and 1 in East Windsor, New Jersey.

McGraw Hill Federal Credit Union is a member of the NCUA which has a charter number 861.