Dedicated to Deposits: Deals, Data, and Discussion

CD Rates From 2% to 4% at Police and Fire FCU in Pennsylvania - Local Only


Update 9/12/09: The short-term CD rates have fallen. Please check the credit union's website for the latest rates.

Police and Fire Federal Credit Union continues to offer very competitive rates. The CD rates range from 2.00% APY for a 3-month term to 4.00% APY for a 60-month term. The 2.10% APY 9-month CD and the 2.30 APY 15-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 8/25/09.

The credit union also has a competitive savings account with a yield of 2.00% APY for a minimum balance of $2,500 as of 8/25/09. 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 May. The rates have gone down, but they remain competitive.

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 the credit union's Membership Page for the full details.

In May the credit union had incorrectly listed the Pennsylvania SPCA as an eligible association. According to the credit union it should have been under employers. Several readers had tried to join the credit union via the SPCA, but they were rejected. The credit union now has the SPCA listed under employers. So if you do intend to join via one of the associations, it's wise to verify the eligibility by phone before joining the association.

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 continues to have strong ratings for safety and soundness: 5 stars (superior) at BauerFinancial and 4 stars (sound) at Both ratings are based on 3/31/09 financial data. It's a large credit union with $3.1 billion in assets and 163,695 members. The credit union is federally insured by the NCUA (Charter # 2551).

Other Competitive Certificate of Deposit Rates

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

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Comment #1 by Anonymous posted on
Effective 3/4/10, under-$50K non-IRA CD rates have dropped. For instance, the 5-year CD fell from 4% to 3.5%. IRA CD rates remain unaffected for now. A new category of Jumbo CDs has been added.

Comment #2 by Anonymous posted on
Surprisingly, PFFCU reversed its March CD rate drop and has done away with the jumbo CD category. Effective 4/1/10, five-year CDs ($500 minimum) are back up to 4%, whether for IRA or not.