Latest news with #creditunion
Wall Street Journal
a day ago
- Business
- Wall Street Journal
Today's CD Rates for July 29, 2025
One of the biggest factors influencing current CD rates is the federal-funds rate. As the Federal Reserve began cutting its benchmark rate toward the end of 2024, CD rates fell in response. However, the June 2025 decision to once again keep the Fed rate steady is likely to result in relatively stable CD interest rates for now. Another factor that influences CD rates is the business goals of a bank or credit union. A financial institution balances the yield it pays to depositors with the amount of interest it earns from borrowers. For example, if a bank charges its customers 9% APR on a loan, the yield it pays depositors needs to be low enough that there's a profitable difference. If a financial institution pays a yield of 4.65% on a six-month CD, it can attract depositors with a higher yield while still earning a profit on the funds it loans to borrowers. Term length matters as well. If a financial institution thinks the Federal Reserve will cut interest rates soon, it might pay higher yields on short-term CDs to attract customers. When the CD matures, depositors will have to renew at a lower rate when the federal funds rate heads lower. On the other hand, in an environment where rates might be expected to rise over time, a financial institution might offer a higher yield on long-term CDs to encourage depositors to agree to keep their money in place for a longer period—even if they miss out on potential interest rate hikes. How to choose the right CD for your financial goals As you compare CD rates, consider your financial goals and what you hope to achieve with your money. Here are some considerations: When do you need the money? Because CDs charge penalties if you withdraw the money early, consider when you want access to your funds. If you're saving for a goal that's a few months away, a short-term CD might make sense. On the other hand, if you want to guarantee your yield and don't need access to the money immediately, a long-term CD could be a good choice. Because CDs charge penalties if you withdraw the money early, consider when you want access to your funds. If you're saving for a goal that's a few months away, a short-term CD might make sense. On the other hand, if you want to guarantee your yield and don't need access to the money immediately, a long-term CD could be a good choice. How much do you plan to commit to a CD strategy? As part of an overall portfolio, cash is likely to earn the lowest return. Including a CD strategy can help you increase yield on the cash portion of your portfolio, but it also means less liquidity for your cash. Some of the best rates are on jumbo CDs, but you need to commit a larger minimum deposit to qualify. Figure out how much you can put into CDs and consider using a CD laddering strategy if you want more frequent access to a portion of your money and are looking for CDs with smaller minimum requirements. As part of an overall portfolio, cash is likely to earn the lowest return. Including a CD strategy can help you increase yield on the cash portion of your portfolio, but it also means less liquidity for your cash. Some of the best rates are on jumbo CDs, but you need to commit a larger minimum deposit to qualify. Figure out how much you can put into CDs and consider using a CD laddering strategy if you want more frequent access to a portion of your money and are looking for CDs with smaller minimum requirements. What will future CD trends look like? As you compare today's CD rates, read up on where experts predict yields will go next. If you think they're likely to fall, you might want to lock in a higher rate on a medium- to long-term CD. On the other hand, if you think they will rise, a short-term CD could mature in time for you to take advantage of rising rates. CD laddering can potentially help you balance access with changing yields.
Globe and Mail
4 days ago
- Business
- Globe and Mail
Kawartha and Libro Plan to Go Forward, Together
Peterborough/London, Ontario, July 17, 2025 (GLOBE NEWSWIRE) -- The Boards of both Kawartha Credit Union and Libro Credit Union are excited to share that the credit unions have entered into merger discussions. By moving forward together, the combined credit union will become the credit union of choice for communities and Members/Owners across Ontario. 'The Boards of both credit unions believe this merger is in the best interests of Members/Owners, employees, communities and the credit union,' says Libro Board Chair, Garrett Vanderwyst. 'By coming together, we can scale and be better prepared for the future, while at the same time maintain the benefits and advantages of a community-focused credit union.' The credit unions are progressing well through the stages of the merger process. In August, a comprehensive Application to the Financial Services Regulatory Authority (FSRA) will be submitted, and if approved, Members/Owners from both credit unions would participate in a democratic voting process, likely in the fall of 2025. If approved, the new credit union would have approximately $11 billion in total assets under management, serving over 180,000 Members/Owners, across 57 locations in Ontario, offering a full range of personal and business banking, wealth management and insurance solutions. 'Both credit unions have a long history of helping Members/Owners achieve their financial goals. By coming together the merged credit union will focus on providing the products, services and advice our Members/Owners need, while continuing to invest in our local communities,' says Kawartha Board Chair, Allison Chenier. More Information About Kawartha Credit Union Headquartered in Peterborough, Ontario, Kawartha Credit Union's purpose is to improve the financial success and well-being of our Members and the communities we serve. We provide values-based expert advice, a full range of competitive and easy-to-understand financial solutions, convenient service channels (including a network of 23 branches, and online and mobile banking), and access to thousands of surcharge-free ATMs across Canada and the U.S. Our 58,000 Members consistently rate us extremely high for overall service, knowledgeable staff, and for the caring and respectful way we help our Members achieve financial success. Kawartha Credit Union is open to anyone looking for a financial services provider they can trust. We call it 'banking in your best interest' and we invite you to experience our difference. About Libro Credit Union At Libro Credit Union, our purpose is to strengthen financial well-being for a better tomorrow. Libro is a full-service financial institution serving more than 120,000 member-Owners through a network of digital services and 34 physical locations. As a trusted financial partner for 82 years, it's our passionate staff and commitment to our communities that sets us apart. Libro is a purpose-based business proudly committed to making positive social and environmental impact as a certified B Corporation®, as an associate member of the Responsible Investment Association, and as a Living Wage employer. If you want to see what makes Libro different, and how your purpose might align with ours then we want to hear from you! Join an inclusive and positive work environment that fosters career growth and advancement and together, we'll shape a better tomorrow. Visit
Yahoo
5 days ago
- Business
- Yahoo
The Best Savings Strategy in an Uncertain Economy Is a Boring One
We've all had enough economic excitement this year. From tariffs and inflation to layoffs and recession fears, daily headlines are a nonstop barrage of bad news that threatens our financial security. That's one of the reasons I'm all for opening a certificate of deposit right now. CDs aren't as sexy as investments like cryptocurrency or timing the stock market. But that's what makes them perfect in today's precarious economy. Here's why you should consider opening a CD as part of your money strategy. Read more: The Economy Sucks Right Now. Take Your Revenge With This New Money Trend Stability in this economy? Yes, please CDs have long been a go-to option for people who want a safe place to keep their cash. But they're especially valuable when the economy is as rough as it is right now. Your annual percentage yield is fixed when you open a CD, so your earnings stay the same regardless of where interest rates go after that. That means you can predict precisely how much your CD will be worth when the time is up. The Federal Reserve is expected to cut rates this year, so now's the time to lock in an APY up to 4.50%. It can help you maximize your returns and shield your money from stubborn inflation. Plus, CDs are protected by federal deposit insurance if you open one at an FDIC-insured bank or NCUA-insured credit union. That means your money is safe (up to $250,000 per deposit, account category and institution) if the bank fails. Don't overlook high-yield savings accounts CDs are ideal for savings goals with a specific timeline, like buying a car or throwing a wedding. However, you must keep your money in a CD for the full term, or you'll face an early withdrawal penalty that will cut into your total earnings. If you're building an emergency fund, you're better off opening a high-yield savings account. Your APY will be variable, which means it could change at any time, but you'll be able to take out cash whenever you need it, penalty-free. And many top high-yield savings account APYs are on par with today's best CD rates. HYSAs also allow you to add money over time. Wth a CD, most banks require you to have all your funds in hand the moment you open an account.
CTV News
7 days ago
- Business
- CTV News
Merged Saskatchewan credit unions reveal new name, CEO
Members of Conexus, Cornerstone and Synergy credit unions in Saskatchewan have voted in favour of merging. The newly merged Conexus, Cornerstone and Synergy Credit Unions have revealed what name and CEO it will have going forward. In a news release, the organization's board of directors announced that the organization will retain the 'Conexus Credit Union' name, selected after a thorough market assessment confirmed it resonates most strongly with people across Saskatchewan. Celina Philpot was also selected to be CEO of the new credit union effective Jan. 1, 2026. Philpot previously served as the CEO of Conexus before the merger. According to the news release, the new credit union will serve more than 200,000 members through 57 branches across 50 communities. The next phase of the merger, before operations begin in the new year, will include planning for the integration of systems, products, services and operations aimed to deliver an enhanced experience for all members, the release said. In June, it was revealed that more than 87 per cent of members of Conexus, Cornerstone and Synergy Credit Unions who voted on the merger – were in favour of it. The merger required at least 75 per cent of members to be in favour for it move forward. 'This merger marks a powerful commitment to our members and communities across Saskatchewan,' Philpot said in the release. 'I'm deeply grateful for the trust placed in me and look forward to working alongside our dedicated employees and board to build a stronger, more resilient credit union that is deeply rooted in the community and focused on the future.' More information on the progress of the merger can be read here.
Wall Street Journal
22-07-2025
- Business
- Wall Street Journal
Today's CD Rates for July 22, 2025: Highest APYs Range From 4.25% to 4.75%
One of the biggest factors influencing current CD rates is the federal-funds rate. As the Federal Reserve began cutting its benchmark rate toward the end of 2024, CD rates fell in response. However, the June 2025 decision to once again keep the Fed rate steady is likely to result in relatively stable CD interest rates for now. Another factor that influences CD rates is the business goals of a bank or credit union. A financial institution balances the yield it pays to depositors with the amount of interest it earns from borrowers. For example, if a bank charges its customers 9% APR on a loan, the yield it pays depositors needs to be low enough that there's a profitable difference. If a financial institution pays a yield of 4.65% on a six-month CD, it can attract depositors with a higher yield while still earning a profit on the funds it loans to borrowers. Term length matters as well. If a financial institution thinks the Federal Reserve will cut interest rates soon, it might pay higher yields on short-term CDs to attract customers. When the CD matures, depositors will have to renew at a lower rate when the federal funds rate heads lower. On the other hand, in an environment where rates might be expected to rise over time, a financial institution might offer a higher yield on long-term CDs to encourage depositors to agree to keep their money in place for a longer period—even if they miss out on potential interest rate hikes. How to choose the right CD for your financial goals As you compare CD rates, consider your financial goals and what you hope to achieve with your money. Here are some considerations: When do you need the money? Because CDs charge penalties if you withdraw the money early, consider when you want access to your funds. If you're saving for a goal that's a few months away, a short-term CD might make sense. On the other hand, if you want to guarantee your yield and don't need access to the money immediately, a long-term CD could be a good choice. Because CDs charge penalties if you withdraw the money early, consider when you want access to your funds. If you're saving for a goal that's a few months away, a short-term CD might make sense. On the other hand, if you want to guarantee your yield and don't need access to the money immediately, a long-term CD could be a good choice. How much do you plan to commit to a CD strategy? As part of an overall portfolio, cash is likely to earn the lowest return. Including a CD strategy can help you increase yield on the cash portion of your portfolio, but it also means less liquidity for your cash. Some of the best rates are on jumbo CDs, but you need to commit a larger minimum deposit to qualify. Figure out how much you can put into CDs and consider using a CD laddering strategy if you want more frequent access to a portion of your money and are looking for CDs with smaller minimum requirements. As part of an overall portfolio, cash is likely to earn the lowest return. Including a CD strategy can help you increase yield on the cash portion of your portfolio, but it also means less liquidity for your cash. Some of the best rates are on jumbo CDs, but you need to commit a larger minimum deposit to qualify. Figure out how much you can put into CDs and consider using a CD laddering strategy if you want more frequent access to a portion of your money and are looking for CDs with smaller minimum requirements. What will future CD trends look like? As you compare today's CD rates, read up on where experts predict yields will go next. If you think they're likely to fall, you might want to lock in a higher rate on a medium- to long-term CD. On the other hand, if you think they will rise, a short-term CD could mature in time for you to take advantage of rising rates. CD laddering can potentially help you balance access with changing yields.
