Dedicated to Deposits: Deals, Data, and Discussion

5.00% 6-Month CD ($25K Max) at Tyndall Online Credit Union in FL Panhandle - Local Only


Tyndall Federal Credit Union
Update 9/09/09: The special 5% 6-month CD is no longer available.

Tyndall Federal Credit Union has a new online banking website called Tyndall Online where they're offing some attractive promotions. The best deal is a 5.00% APY 6-month CD with a $25,000 maximum deposit. Minimum deposit is $1,000. Limit one per member. The rate and details are listed in this credit union's webpage as of 7/24/09.

CDs with very high yields often have low deposit caps, but $25K isn't too bad. If you deposit the maximum in this CD, you'll make about $375 more than a 2% 6-month CD. If a husband and wife each open one, they'll make an extra $750.

Unfortunately, the online system isn't the best. According to the application instructions for the 6-month promotional certificate: "The maximum deposit amount for this special Certificate is $25,000. For security reasons, we can only accept a deposit of $10,000 through the online application process." For over $10K you'll need to mail a check. Full instructions are located here.

The credit union's standard certificates also have competitve rates. Below are the standard rates as listed in the credit union's rate page as of 7/24/09:
  • 2.00% APY 12 month
  • 2.50% APY 24 month
  • 3.00% APY 36 month
  • 3.25% APY 48 month
  • 3.75% APY 60 month
They also offer a CD laddering program called Certificate Advantage which gives you an extra 0.25% APY on the above certificate rates. The certificates also apply to IRAs.

They also offer a reward checking account called e-Checking Account. The rate is a little low for reward checking (currently 2.50% APY), but the cap is larger than average at $50K. This is the same as the credit union's brick-and-mortar e-Checking but it pays an extra 25 basis points (see post).

As described at Tyndall Online's home page, they're "owned and operated by Tyndall Federal Credit Union. However, tyndallonline is an "online only" financial institution and is currently only available in Walton and Okaloosa Counties. Because it is only online, the operating costs are much lower and those savings are passed on to our members in the form of higher dividend rates and lower loan rates." That's why the e-Checking rate is higher than the brick-and-mortar version.

It appears the membership eligibility is more restrictive than the brick-and-mortar credit union. For Tyndall Online, membership is open to those who live or work in Walton or Okaloosa County, Florida and who have a physical or mailing address in one of those counties. Refer to the credit union's Apply Online Page for more details. If you look at my Tyndall FCU post, you can see how the brick-and-mortar Tyndall has a larger field of membership.

For those who are already a Tyndall FCU member, please note the instructions at the promo 6-month CD page: "The products available through tyndallonline, including promotional products, cannot be opened under a Tyndall Federal member number. You must establish a separate membership with tyndallonline, as it is a different financial institution."

Tyndall FCU has decent ratings for safety and soundness: 3 stars (performing) at and 5 stars (superior) at BauerFinancial. Both ratings are based on 3/31/09 financial data. Tyndall FCU is federally insured by the NCUA (Charter # 10754).

Thanks to the reader who mentioned Tyndall Online in the Daily News & Deals Page.

Other High Certificate of Deposit Rates

  Tags: Tyndall Federal Credit Union, CD rates, IRA rates, checking account, Florida

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Comment #1 by Anonymous posted on
Banking Guy
This deal has expired.

Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the info. Looks like they didn't make a note on the promo page that it expired, but they did remove links to this page from their main pages.

Comment #3 by Anonymous posted on
Be careful with the Certificate Advantage. When the shorter term CD renew into the new 5 year term, those renewals will not recieve the .25% bonus rate. Only the initial set of 5 CDs will qualify for the bonus rate. I just confirmed this with the CSR.