Certificates of Deposit (CDs)

Grow your savings with a Community First CD. Take advantage of competitive rates, flexible terms, and guaranteed returns to reach your financial goals.

Benefits of a CD Account

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Competitive rates
All our CDs offer guaranteed returns. Our Junior Jumbo, Jumbo, and Jumbo Plus offer premium rates for larger deposits.
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Flexible terms
Save for the short-term or the long run with terms that range from three months to five years. Open a CD account with $500 or more, and choose from Regular, IRA, and SEP CDs.
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Security
Your savings are federally insured to at least $250,000.

Invest in your future

 

Community First Credit Union proudly provides financial solutions for every stage of life. Our Investment Advisors, offered through CUSO Financial Services, L.P., offer our members comprehensive financial planning tools to help them live their best lives now and into the future with total peace of mind.
 

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FAQs

Am I eligible for membership at Community First Credit Union?

Community First Credit Union membership is open to anyone who lives, works, or attends school in one of the following Florida counties: Baker, Brevard, Broward, Clay, Duval, Flagler, Indian River, Lake, Martin, Nassau, Orange, Palm Beach, Putnam, Seminole, St. Johns, St. Lucie, or Volusia.

Membership is also open to any relative of an existing or eligible Community First Credit Union of Florida member. We also offer membership to select employer groups, including employees of Brooks Rehabilitation, Miller Electric Company, and Web.com. Not sure if you qualify? Contact us.

How can I open a CD?
You can open a CD online, in a branch, or over the phone when you call 800.342.8416.
What do I need to open a CD?
To open a CD, you'll need:
  • Your Social Security number
  • Valid United States Driver's License, Permanent Resident Card, or United States Passport
  • A minimum opening deposit of $500 or more
The $5 in your Share Savings account establishes your membership with Community First Credit Union and represents your ownership or share of the credit union. As a member, you'll have access to all our products and services, including exclusive member-only benefits.
The following applies to all of the above accounts, unless specifically stated.

Rate Information and Minimum Balance Requirements - You will be paid the dividend rate until first maturity or the one time rate adjustment for the 60 month adjustable rate certificate. The annual percentage yield is based on an assumption that dividends will remain in the account until maturity. A withdrawal will reduce the earnings. The required minimum balance is $100 to open a Youth Advantage Certificate, $250 to open a 6-Month Save Up CD, and is $500 to open all other certificate accounts. Your dividend rate and annual percentage yield are determined by your original certificate purchase amount and applied to the full balance in the Certificate account.

Compounding and Crediting Frequency - The dividend period for this type of account is monthly. Unless otherwise paid, dividends will be compounded monthly. Dividends will be credited to your certificate account or to any deposit account every month.

Balance Computation Method - Dividends are calculated by the daily balance method, which applies a daily periodic rate to the principal balance in your certificate account each day.

Accrual of Dividends on Non-cash Deposits - Dividends will begin to accrue on the business day you deposit non-cash items (for example, checks) to your certificate account.

Transaction Limitations - After the certificate account is opened, you may not make additional deposits (add-ons) into this certificate account until the maturity date except for the Youth Advantage certificate account explained below.

36 or 60 Month Adjustable Account Certificates and Youth Advantage Certificate - You may change the dividend rate (and corresponding APY) one time on a 36 or 60 month adjustable rate certificate. This change is a one-time option during the 36 or 60 month term of the certificate. You will have to make the decision to adjust the dividend rate to the current published 36 or 60 month adjustable certificate dividend rates. If you adjust the dividend rate, this new dividend rate would be fixed for the remainder of the 36 or 60 month certificate term. For the Youth Advantage Certificate, you have the ability to make multiple deposits of additional funds (add-ons) to the certificate account with a minimum deposit of $25 or more. The Youth Advantage Certificate is not eligible for the one-time dividend rate adjustment option.

Early Withdrawal Penalties - We may impose a penalty if certificate funds other than dividends are withdrawn prior to the maturity date. The penalty will be: a loss of 31 days dividends if the certificate term is between 3 and 5 months; a loss of 90 days dividends if the certificate term is 4 months through 12 months; a loss of 180 days dividends if the certificate term is 13 months or greater. The certificate principal balance may be reduced if necessary to effect the penalty. The penalty does not apply to any of the following withdrawals: withdrawal subsequent to the death of any owner; or if the account is part of a qualified individual retirement plan (IRA) and the withdrawal is to effect distribution of funds upon the participant’s disability or attainment of not less than 59 1/2 years of age.

Renewal Policies – All certificates will automatically renew at maturity. You will have a grace period of 14 calendar days after the maturity date to withdraw the funds in the certificate account without being charged an early withdrawal penalty as described above.

National Credit Union Share Insurance Fund - Member accounts in Community First Credit Union are federally insured by the National Credit Union Share Insurance Fund.

1Certificates of Deposit (CDs) - Product offers, rates, terms and other information provided herein are subject to change without notice. Due to the occasional inaccessibility to our website which may be beyond our control, Community First Credit Union cannot guarantee the completeness or accuracy of the information provided herein. The information provided to you on our calculators is estimated and provided solely for your interactive enjoyment. The results are not guaranteed to be accurate. To verify current offers and rates, please call 904.354.8537 or 800.342.8416

How much money do I need to open a Basic, Junior Jumbo, Jumbo, or Jumbo Plus CD?
We offer a variety of CDs with different minimum opening balances. Minimum opening deposits for our accounts are as follows:
  • Youth Advantage CDs - $100
  • Basic CDs – $500
  • Junior Jumbo CDs – $45,000
  • Jumbo CDs – $100,000
  • Jumbo Plus CDs – $250,000
What is the difference between a Regular CD, IRA CD, and SEP CD?
A Regular Certificate is a short- or long-term investment account that offers a guaranteed high-yield return. You choose the term that works for you, and your money sits safely in your CD account, earning interest over the selected time period. Then, when the CD comes to term (also known as reaching maturity), you can access your money and the accrued interest.

An Individual Retirement Account (IRA) CD and Simplified Employee Pension (SEP) CDs work similarly but allow eligible participants to set aside money for retirement and can offer tax benefits.

Speak to your tax advisor regarding your eligibility and potential tax benefits.
1Certificates of Deposit (CDs) - Product offers, rates, terms and other information provided herein are subject to change without notice. Due to the occasional inaccessibility to our website which may be beyond our control, Community First Credit Union cannot guarantee the completeness or accuracy of the information provided herein. The information provided to you on our calculators is estimated and provided solely for your interactive enjoyment. The results are not guaranteed to be accurate. To verify current offers and rates, please call 904.204.1711 or 800.342.8416. CDs closed prior to maturity are subject to an early withdraw penalty.