Dedicated to Deposits: Deals, Data, and Discussion

5.00% 5-Year & 4.00% 2-Year CD at FedChoice FCU in MD, DC & PA


FedChoice Federal Credit Union is offering a 5.00% APY 5-year CD. Minimum deposit is $500, and it requires new money. An APY of 5.05% is available for a $50,000 minimum deposit. There's also a competitive 24-month CD with an APY of 4.00% (4.05% for $50K). These are available as regular and IRA CDs. These rates are listed in the credit union's rate table as of 12/21/08, and they're only limited time specials.

Field of membership includes all federal civilian employees, annuitants and their families in the Washington, D.C., Baltimore and Philadelphia Metropolitan areas. Refer to the site for details about the specific counties that are part of the covered areas.

Branches are located in Maryland, Washington DC and in Philadelphia, Pennsylvania.

FedChoice FCU is federally insured by the NCUA (Charter # 150).

  Tags: Pennsylvania, Maryland, CD rates, IRA rates

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Comment #1 by Anonymous posted on
I am a member of this credit union. I guess they must be somewhat desperate for deposit money. They recently held some weekend promotion events at the headquarters building to try to attract more business. Even though I will probably be still working in 5 years, I am not sure if I would commit to a long term CD with them. I don't think that many employees have accounts with them. They probably put their money at banks close to their homes instead. Unlike most regular local banks where you see a line of customers at the teller area, my local branch is almost always deserted at any given time of day.

Comment #2 by Anonymous posted on
Added to previous comment.

The local branch that I am referring to is the FedChoice FCU.

Comment #3 by mark (anonymous) posted on
I'm embarrassed for how ineptly run this CU is. Yesterday I completed the online application w/all info, including an email address. Today I received a call from a CSR, who tried to read me a long list of additional documents they want (some sort of signed application, copy of work ID, etc. ad naus.). When I suggested that maybe she could simply email me the list instead of dictating it over the phone, there ensued much head-scratching.

The final straw was the casual mention of the fact that I can't fund the account initially online; they require a branch visit or mailed check. At that point, I told the CSR to just forget about it.

Comment #4 by Anonymous posted on
I just opened a 5 year 5% Roth IRA CD with them. Yes, they are a bit odd in some ways (no electronic transfers, and slightly ameturish), but I found them very friendly and helpful. They followed through nicely on my application. Plus, I don't see many other places offering 5% even on a 5 year CD. AND once I opened the account they sent me a TGIF gift card and other nick nacks -that was a nice surprise. I like them... and will be opening some more CD's...