Dedicated to Deposits: Deals, Data, and Discussion

DCU's 6% 16-Month CD Ends, Offers New CD Specials and Rates


Digital Credit Union (DCU) ended its 6% APY 16-month certificate of deposit yesterday. It had lasted since July. DCU has some new specials and rates, but they're not nearly as good as this 6% one. Their latest CD special is a 5.50% APY 13-month certificate and a 5.00% APY 7-month certificate. The minimum deposit for these is $500, and it's available in an IRA.

In addition to these CD specials, you can also get a 5.70% APY 5-year IRA CD (see rates page). However, these non-special CD's have some requirements to get the listed rates. To receive the 5.70% APY you need to have the Loyalty Checking Plus relation. This requires a checking account, either maintain direct deposit into the DCU checking account or use DCU Bill Payer regularly, have and use a DCU Visa Credit Card, and maintain at least $250 in a DCU savings account, money market account, CD or IRA. See site for the full details.

In addition to the 5.70% APY IRA, there's also a 5.70% APY 60-month American Dream Certificate. It requires the Loyalty Checking Plus relationship. The minimum deposit is $100 and the maximum balance is $25K. It's intended for members who are not already homeowners. You can make a penalty-free withdrawal if you show proof of a home purchase before the end of the 5 years. If you need to use the money for something besides a home purchase before the maturity date, there's a 180 day interest early withdrawal penalty. So it seems like a regular CD with the benefit of a no-penalty early withdrawal if you do purchase a home.

Anyone can join DCU. This can be done online. In the first page of this online application, you can choose eligibility via selecting to join one of organizations. The least expensive membership is $15 for either the AAPD or the New England Chapter, PRRT&HS. Membership is only required when you join the credit union. Once you're a credit union member, you no longer have to maintain membership in the organization.

Please refer to this previous post for more details about membership and DCU's certificates.

DCU is NCUA insured. It's a large credit union with $3.2 billion in assets and 283K members.

Comment #1 by Anonymous posted on
thanks Banking Guy for doing a great job posting these deals. I was just able to slip a couple a couple IRA's in to DCU before the 6% ended. Pretty much all locked in now on all my cd's between 6 and 7%.Bottom line , this website puts money in my pocket.

Comment #2 by Anonymous posted on
Is it wise to lock the money at a rate below 5.50% at this time?

Comment #3 by Anonymous posted on
The 5.5% 13 month may have expired. It is no longer on the web site.

Comment #4 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the note. Yes, I also don't see it. The only CD special now is the 5% 7-month CD.