Dedicated to Deposits: Deals, Data, and Discussion

New High Yield CDs at Western FCU (Easy Membership)


Western Federal Credit Union
Western FCU just increased the rates on all of its share certificates. The best rates are available for minimum deposits of $40K. The APY's include 5.76% 60-month, 5.65% 48-month, 5.58% 36-month, 5.55% 24-month, 5.44% 12-month, 5.40% 6-month and 5.12% 3-month. Rates are 0.25% less for minimum deposits of $2,500. The same rates are also available for IRA's (Traditional, Roth and Coverdell).

I found some more details regarding the certificates in the Truth-in-Savings Disclosure at this webpage. It states that the early withdrawal penalty is 90 days of dividends with no mention of terms (page 7). This is below average for long term CDs. Note, the penalty is only for withdrawals of the principal. It states that you may make withdrawals of earned dividends at any time. Dividends are compounded and credited monthly. The grace period when you can close the CD after maturity without penalty is 10 days.

Field of membership is open to Surfride Foundation members which is open to everyone. A $25 fee is required to join Surfrider as a regular member. Western has a long list of Select Employer Groups in which you can be immediately eligible to join. Membership requires a $5 membership fee and a minimum deposit of $5 into the primary savings account.

Branches are located in Arizona, Arkansas, California, Colorado, Texas, Utah and Virginia.

The credit union is federally insured by the NCUA (Charter # 15732). It's a large credit union with $1.16 billion in assets and 119,667 members.

Thanks to the reader who mentioned these new rates in the comments.

Related Pages: Western Federal Credit Union, California, CD rates

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Comment #1 by Anonymous posted on
The Surfrider cost is $15 for student or senior citizen if anyone falls in either of those.

Comment #2 by Anonymous posted on
This is currently my main bank (checking account, savings account, and auto loan, though I'll be using the info on this site to change to a higher-yield savings or reward checking account), and I can vouch for them as a good operation with good customer service.

Comment #3 by Anonymous posted on
Oh, and meant to mention that another way to qualify for membership (for free) is if you happen to live or work in Santa Ana, California.