Dedicated to Deposits: Deals, Data, and Discussion

3.15% 15-Month CD, 2.75% 6-Month CD & Other High CD Rates at Police and Fire CU in Pennsylvania


Update 4/18/09: The CD rates have fallen, but they remain very competitive. Please check the credit union's website for the latest rates.

Police and Fire Federal Credit Union continue to offer very competitive rates. The CD rates range from 2.65% APY for a 3-month term to 4.00% APY for a 48- and 60-month term. The 3.15% APY 15-month CD and the 3.50% APY 24-month CDs are especially competitive. The same rates also apply to IRA certificates. Minimum deposit is $500. These rates are listed in the credit union's rate table as of 4/07/09.

The credit union also has a competitive savings account with a yield of 2.50% APY for a minimum balance of $2,500 as of 4/07/09. This same rate is also available as an IRA money market account and an education savings account.

I last posted on this credit union in February. The rates continue to hold. I contacted the credit union today and confirmed that the rates listed are current. The CSR didn't know how long they would last. It appears they could change at any time.

The credit union has an online application for its certificates. However, you must first be a member and have money already in one of the credit union's liquid accounts. Once you become a member, you can use an online bank to push money into the credit union savings account via an ACH transfer. Once the money is in there, you should be able to purchase the CD using this online application. This approach has worked well for me at Navy FCU.

In addition to Philadelphia police and firefighters, membership is also open to other employee groups and associations. Please refer to their Membership Page for the full details. The association and organization list is long, and one that's included is the Pennsylvania SPCA (see update below). I would recommend checking with the credit union to verify this before trying to join.

Update 5/21/09: Readers have reported being told by the credit union that the Pennsylvania SPCA was incorrectly listed as an Association/Organization. It should be listed under Employers. So only employees of the SPCA (not members) can qualify.

The credit union has an online membership application which seems to allow online funding. A minimum deposit of $5 is required.

Branches are located in Philadelphia and its suburbs.

The credit union has strong ratings for safety and soundness: 5 stars (superior) at BauerFinancial (based on 12/31/08 data) and 4 stars (sound) at (based on 9/30/08 data). It's a large credit union with $2.9 billion in assets and 160,579 members. The credit union is federally insured by the NCUA (Charter # 2551).

  Tags: Pennsylvania, CD rates, IRA rates, Police and Fire Federal Credit Union, savings account

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