| Bank or Credit Union | Apy | Min | Max | Product | |
| Fort Knox Federal Credit Union | 1.30% | $500 | - | 48 Month CD | |
| Fort Knox Federal Credit Union | 1.05% | $500 | - | 36 Month CD | |
| Fort Knox Federal Credit Union | 1.00% | $500 | - | 23 Month CD Loyalty Special | |
| Fort Knox Federal Credit Union | 0.90% | $500 | - | 14 Month CD Local Stimulus Special |
Update on Fort Knox Federal Credit Union and Its High-Yield CDs
Readers have reported some initial success with joining Fort Knox Federal Credit Union. As I mentioned in my April 9th review, the credit union offers some of the best CD rates in the nation. I've reported on this credit union many times in previous years, but recently, the credit union has made it easy to qualify for membership. Here's a comment from a reader who tried to join:
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).
Another reader pointed me to the membership agreement (pdf) which has the terms for the CDs. In short, the early withdrawal penalty is only 90 days of interest. However, they reserve the right to refuse an early withdrawal of principal. The paragraph below is from page 35 of the agreement. I've highlighted the two important details.
You have agreed to leave the principal of this account on deposit for the full term stated in your account or renewal notice. If all or part of the principal is withdrawn before the maturity date, the Credit Union may charge you a penalty. Withdrawal of the principal amount of your Certificate may be made only with the consent of the Credit Union. Unless stated otherwise, the owner shall forfeit an amount equal to 90 days dividends whether earned or not. The penalty may be calculated at the rate paid on the deposit. The penalty will, if necessary, be taken from the principal amount of the deposit.
In addition to top CD rates, the credit union also has a very competitive money market account and a cash back credit card that's similar to what PenFed offers. Please refer to the Fort Knox FCU Rates and Reviews page for more details.
If you have joined Fort Knox FCU, please let us know how it went. Other readers have already provided several useful comments in my previous Fort Knox FCU post.
Banks Mentioned in this Post:
- Weekly Rate Summary
- Bank Reviews
- Bank Health Ratings
- Savings Account Rates (filterable)
- CD Rates (filterable)
- IRA Rates (filterable)
- Checking Accounts (filterable)
- 40 Ways to Get the Most Out of Your Bank
- The Big List of Credit Unions Open to Anyone
- What Do You Need to Open a Bank Account?
- Difference Between Banks and Credit Unions
- Interest Rate vs. APY
- Difference Between Wire Transfer and ACH
- How ACH Transfers Work
- Do I Have to Pay Taxes on Bank Account Interest
- How to Build a CD Ladder
- Blog Archive
- Popular Blog Categories
3-year Term IRA CD
1.21% APY
Capital One 360
360 Checking Account
0.85% APY
Anonymous - #1, Monday, April 19, 2010 - 10:34 PM
Why isn't this CD listed on the national 5 yr list?
Anonymous - #2, Tuesday, April 20, 2010 - 10:16 AM
Do no open trust accounts here. Even if have trust certificate, they want you to have a current Trust affidavit by your attorney.
Anonymous - #3, Wednesday, April 21, 2010 - 9:28 AM
Yesterday, I was able to open a CD in the name of my Trust with a Trust Certificate (4/20/10). They have a Trust form that they want you to fill out and have notarized. I live in Michigan and filled it out, had it notarized and faxed it back to them along with the rest of the required information. They called me with my new account number. When I initially ask them about opening it in the name on my Trust they said I had to have my lawyer sign some thing, send a copy of the trust and stuff that isn’t necessary. I told them that my Trust Certificate has always been sufficient. They emailed me the application and the only thing different was having their Trust form certified. I don’t think that it should be necessary or required but it wasn’t too much additional trouble. Their rates are great and for a credit union they make it very easy to join. The CSR was very friendly and helpful. Overall it was a very pleasant experience.
Anonymous - #4, Wednesday, April 21, 2010 - 2:54 PM
The trust comment I do not beleive. They had my trust certificate and they gave me lots of trouble saying I had to have an attorney sign it. That the trust certidicate was good enough.
Anonymous - #5, Wednesday, April 21, 2010 - 3:24 PM
This is annymous for Michigan. I calles the CSR and now yes they say the Trust affifavit just needs to have your signatures notarized. The people I talked to you GAVE MT THE WRONG INFORMATION. I am having the Trust affidavit emailed to me and I will fix this. Michigan thanks for posting and helping people.
Anonymous - #6, Wednesday, April 21, 2010 - 3:53 PM
Michigam what is the fax number you used they told me to mail
Anonymous - #7, Thursday, April 22, 2010 - 7:27 AM
I'm the one from Michigan. This is what was on my email.
Please complete and return by fax to 502-942-6669 attn Brenda. Also, Brenda was very helpful. It has been my experience that sometimes CSR are not as informed as they should be. Anyway, just posting my experience with them. I use Bank Deal a lot and benefited from other user comments and wanted to give back by sharing my experience.
Anonymous - #8, Thursday, April 22, 2010 - 7:32 AM
I'm the one from Michigan. This is what was on my email.
Please complete and return by fax to 502-942-6669 attn Brenda. Also, Brenda was very helpful. It has been my experience that sometimes CSR are not as informed as they should be. Anyway, just posting my experience with Fort Knox CU. I use Bank Deal a lot and benefited from other user comment and wanted to give back by shareing my experience with FKCU.
Anonymous - #9, Thursday, April 22, 2010 - 12:50 PM
Michigan, Thank you for the fax number. yes they told me Brenda does the trusts. Again thank you for posting. Otherwise I would not be able to do cd.
Thank you
Evanm (anonymous) - #10, Friday, April 23, 2010 - 8:22 AM
Watch out for funding an initial account via ach. I set up an ach and the trial deposit for verification was posted fine. However when it was pulled back, I was hit with a $25 fee.
I called the CSRs and hopefully that will be reversed soon.
Anonymous - #11, Tuesday, April 27, 2010 - 3:50 PM
Trust accounts
Hello I am the one from CA. After sending the trust affidavit, FCU credit union told me they do not take subtrusts.
Thet told me they are openings lots of new accounts so these rates may go down soon.
Anonymous - #12, Wednesday, May 5, 2010 - 8:03 PM
I opened an account in form of living trust for my husband and me. "Michelle" who handles on-line account openings was very helpful, prompt. It was one of the easiest account openings I've encountered in some time. Very pleased. She also communicates promtly by e-mail.
Anonymous - #13, Tuesday, May 11, 2010 - 9:01 AM
The Specials offered at Fort Knox FCU changed 05-08-10.
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