Dedicated to Deposits: Deals, Data, and Discussion
Fort Knox Federal Credit Union1.25%$500-48 Month CD
Fort Knox Federal Credit Union1.00%$500-36 Month CD
Fort Knox Federal Credit Union0.60%$250k-Money Market Account
Accounts mentioned in this post. Rates as of August 22, 2014

Competitive CDs, Money Market Account & Credit Card at Fort Knox FCU in Kentucky - Easy Membership


Fort Knox Federal Credit Union

Fort Knox Federal Credit Union made some slight changes to its certificate specials this week. The terms increased by one month for both specials. And on the plus side, the rate increased by 15 basis points on the longer term CD. The rates for these new special CDs are 2.65% APY for 23 months an 2.00% APY for 14 months. These rates are listed in the credit union's CD rates page as of 4/09/2010.

Competitive Long-Term CDs

The credit union's long-term regular CDs continue to be quite competitive: 3.00% APY 36-month CD, 3.25% APY 48-month CD and 3.50% APY 60-month CD. An extra 0.25% is added for a Jumbo CD with a $100,000 minimum (excludes specials). These rates are listed in the credit union's CD rates page as of 4/09/2010.

Competitive Money Market Account

Another good deposit deal is the credit union's Money Market Share Account. It's a tiered account with the top rate of 1.85% APY for a minimum balance of $50K. The rate for balances of $10K to $50K is 1.35% APY. These rates are listed in the credit union's savings rates page as of 4/09/2010.

Cash Back Credit Card

In addition to deposit deals, the credit union also has a good credit card deal that offers cash back that's very similar to PenFed's card. It's called the VISA Platinum Card and it offers 5% cash back on gas and 1.25% cash back on all other purchases. Unlike PenFed's card, it doesn't offer 2% cash back at supermarkets. However, PenFed's cash back for non-gas and non-supermarket purchases is now only 1.00%.


Fort Knox FCU used to have a typical field of membership which included residents of several counties in Kentucky. However, last month I noticed the following highlighted sentence in the credit union's membership eligibility page:

Or you can become a member of American Consumer Council for free.

The American Consumer Council lists several credit union affiliates. In ACC's membership page it describes one way you can join:

You can contact one of the affiliated credit unions and complete their membership application. The process is simple. By joining through an affiliated credit union, you can join us for free!

I called Fort Knox FCU at 800-285-5669 and asked about how to join via ACC. According to the CSR, you can apply for membership online starting at this page. In the next application page you can select ACC as your organization. The CSR said that after you submit the application, you'll be contacted by them and notified if you were accepted. They'll send you the signature card to be mailed back with your initial deposit.

One thing I noticed on the eligibility section of the application is that the Kentucky chapter of ACC is listed as a qualifying organization. The CSR did not say credit union membership was limited to Kentucky residents. However, there have been many times in the past when either the CSR was wrong or the credit union decided to add requirements. So this may be a "your miles may vary" situation until we get confirmation from several readers that they've been able to join from outside of Kentucky via the ACC. Then we can put it in the same group as PenFed and Alliant.

Membership Fee

One downside with Fort Knox FCU is that it there's a membership fee of $10. Another $5 is required to be maintained in the share savings account. This is described at the bottom of the membership eligibility page.

When I called this morning, I asked if they do a hard credit inquiry in the application process. According to the CSR, they do not pull your credit as part of the application (Note, CSRs are often wrong on this issue.)

Credit Union Overview

Branches are located in several cities in Kentucky including Fort Knox, Radcliff, Elizabethtown and Campbellsville.

The credit union continues to have strong ratings for safety and soundness: 5 stars (superior) at BauerFinancial (based on 12/31/09 data) and 4 stars (sound) at (based on 9/30/09 data). Fort Knox FCU is federally insured by the NCUA (Charter # 7000).

Compared to the Best CD Rates?

To get an idea about how competitive a 2.65% APY is for a 23 month term, Bankrate's best 2-year CD rate is currently only 2.05% APY. You can find higher rates in the CD rates section of (with New & improved format!).

  Tags: Fort Knox Federal Credit Union, Kentucky, CD rates

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Comment #1 by me1004 posted on
Re: So this may be a "your miles may vary" situation until we get confirmation from several readers that they've been able to join from outside of Kentucky via the ACC.

I just talked with the CSR and filed my application for membership. They said yes, I can join as a free member of the American Consumer Council even though I live in California. I filed that way, and they have now e-mailed back to me the signature card and a short letter).

I note, they are running a special of 2.0% APY for a 14-month CD if you deposit at least $100,000.

Yes, the CSR told me the $10 membership fee is nonrefundable. She also said I need the $5 minimum in the share account, but that I can get back if I should close the account.

But I note, the letter they e-mails said the membership fee is $5, and it is a minimum of $10 for the share account! This is better, and I will look into those details later.

They said I can fax the signature card back, as opposed to sending the original in the mail, along with a copy of my photo ID and my Social Security card. This faxing is critical in my case as I have a CD maturing this coming Wednesday, and the mail delay would have meant my money would be sitting around collecting no interest for some number of days.

The application was routine. They will process that and then send me the signature card. I send that back. They then will process and phone me. They supposedly will tell me my accotn nuebr on the phone.

Then I must get my $10 fee (or is that $5?) and minimum $5 (or is that $10?) for the share account to them. What I plan to do is wait until my CD matures on Wednesday, and then take that and my $15 and do it all in one swoop.

I note, they said they do participate in the shared branch system. So, I can just take my money to the shared branch near me to deposit. Or I could mail, if I prefer.

One little catch for me. I always like to open a checking account with a CD. That way, I can easily close the CD to that checking account and get the check to the next place easily. This is VERY helpful when the CU or bank is someplace else, as in this case.

But I certainly do not like to pay for a handful of checks or for a full supply; I'll settle for a few free counter checks up front if not a full free supply. At Fort Knox FCU, they said they cannot MAIL me any counter checks to use. It is policy not to mail those out, they said, for security reasons. (And I can't pick up any because I'm not in Kentucky.) So, I would have to buy a supply of 40 checks for $6.75 for the money market account, or $13 for the regular checking account for a suppy of 150. And they will mail those. 

Why counter checks are a security issue in the mail but the regular checks are not is beyond me! But I don't want to pay so I can write a single check a year from now. But that means the ACH would be about my only option in a year, and that loses me at least a day of interest too.

They sadi I can add beneficiaries at any time and on each individual savings, checking or CD I open. 

I also like to add a power of attorney. They said they could take my form, but they will not process or file it unless my agent adds a letter saying they have been appointed and that I have not revoked them. I've never come across that before! That must be something about Kentucky law, I guess. The normal statement the POA agent signs at the end of the POA form is not sufficient for the credit union. Very odd.

Comment #2 by KenBDG posted on
@me1004, thanks for reporting on your experience with this credit union. Glad they gave you the okay. Please keep us posted on how it goes.

One thing I forgot to mention regarding my conversation with the CSR is that you may be able to fund the CD with an ACH from your outside account. According to the CSR, once you are a member, you can call and have them fund a new CD via ACH. At other credit unions that don't provide ACH service, I often have used Ally Bank's ACH to push funds into the credit union savings account. Then it's easy to open the CD with funds from the credit union savings account. The downside is that there are a couple of days of lost interest when it's done this way.

Comment #3 by JB (anonymous) posted on
I'm a member of this credit union and yes, they are awesome.

I've got a few products with them.

EX: Car Loan @ 4.9% and a Visa Platinum w/ $10,000 CL

Excellent CU and I highly recommend anyone to join that can.

Comment #4 by Anonymous posted on
Does anyone know what the CD penalty would be on early closures?

I can't seem to find any info about that on the website.

Comment #5 by Anonymous posted on
Trust accounts Fort Knox FCU


Hello, I am also in CAlifornia and in the nest couple of weeks want to open Trust account for a cd at Fort Knox fcu.  I called them they said that I need to send trust certificate.  I did and then I called them back, they said I need a Trust Affidavit signed by my attorney.  I do not have that and I am not going to pay the lawyer another $100.00 just to get his signature after I paid alot of money for the trust legal work.  I guess it is Kentucky law.  I can still later open a cd under my own social security number.  Bur folks who have A/B trusts be fore warned. 

Maybe someone knows how much an attoeney charges for signing and affidavit of trust after it has been a couple of years he did his trst work.

Ken great sight I still habe good paing cds from Golden 1, Alliant, Penfed, Northrup Gruman


Comment #6 by Anonymous posted on

There customer service is good.  If you want monthly paper statements, I think they charge $1.00 a month, even if have lage cd I think.  Once you sen them accoun to open they call you with your account number. 

This is a very lean credit union.  They do not send you mech information if open account by mail. They send you threir signature card (or application as I call it), send the your id and something to prove what your social security number is.

You can fund cd by going to credit union shared branches,


Comment #7 by Anonymous posted on
Found the following quote in Fort Knox FCU Membership Agreement under early withdrawal penalties section (highlighting mine):

"Withdrawal of the principal amount of your Certificate may be made only with the consent of the Credit Union."

This is under section "TERM SHARE CERTIFICATE ACCOUNTS (Share Certificate and IRA Certificate Accounts)" around pages 35-36.

Comment #8 by O-Qua Tangin Wann (anonymous) posted on
O-Qua Tangin Wann
I would like to add some more details that might be helpful.

This credit union currently has no in-house ACH feature. You can ACH from outside institutions, but if you require the ability to ACH push or pull from Fort Knox itself, this credit union is not for you.

For Online Banking, your User ID will be your Member Number. You cannot select a personalized User ID. (Alliant CU is this way, as well.)

You cannot select your own PIN for your ATM/Check Card. The computer will select the PIN for you, and you are stuck with it.

Customer service is stellar. Calls only during office hours, which ends at 5:30 Eastern Time, the hold times have been acceptable.

You can bet your tush if a lot of people flood Fort Knox with deposits (which normally occurs after news is posted here) they will drop their rates fast (and they'll probably do this eventually anyway even if not flooded with deposits).

If you open up a Money Market account, you must pay for your first order of checks, if you want checks with that account (6 withdrawals per month, of course).

And as stated by Ken, you must pay a fee to join this credit union.   

Comment #9 by jjcpa posted on
i do not live in kentucky and i joined the credit union with no problem. the new accounts teller was absolutly great and very informative.

Comment #10 by George (anonymous) posted on
I opened 2 CDs this past week, one for 23 months and one for 36 months.  I found the reps to have varying degrees of knowledge, but in all cases they were very pleasant and, all but the last one, very helpful.  I live in Houston and for some reason it took 6 days for a priority mail pack to get to them.  The 2nd mailing, regular mail, took only 3 days.  But both were opened and I was able to view them on line yesterday.

My guess is that it's only a matter of time before they have ACH capabilities at their end.  Now that they've gone mainstream I think they'll join the progression toward things that larger institutions get involved with, be they commercial banks or credit unions.

If you think you might have a need for your money should interest rates increase before your CD matures, then perhaps you might want to consider avoiding Ft. Knox.  There's no doubt in my mind that should there be a mass exodus toward the exit, they will exercise their right to reject early w/d'alls, especially if interest rates rise more than is being anticipated.

Overall, I think I'd rate them them as a 7 to 8 out of 10 and, based on my experience, recommend them. 

I was told that their interest rates generally change on tuesdays, so you might want to give them a call on tuesday before sending them any $.  Don't rely on their webside for accuracy since they might not change in concurrent with their change in interest rate structures.

Comment #11 by Shane (anonymous) posted on
I just joined Fort Knox and found out they do not have ACH.  You must wire money in/out.  They charge $12 per outgoing wire and $3 per incoming.  Very annoying and lowers the APY.  I wish I knew this before I joined.  Looks like to make this worthwhile you have to move large sums of money.