Dedicated to Deposits: Deals, Data, and Discussion
DETAILSINSTITUTIONAPYMINMAXPRODUCT
Police and Fire Federal Credit Union2.00%$500-5 Year CD
Police and Fire Federal Credit Union1.75%$500-4 Year CD
Police and Fire Federal Credit Union1.50%$500-3 Year CD
Police and Fire Federal Credit Union1.00%$500-2 Year CD
Accounts mentioned in this post. Rates as of July 25, 2014

Top Long-Term CD Rates Continue at Police and Fire FCU in PA

POSTED ON BY

Police and Fire Federal Credit Union continues to offer very competitive long-term CD rates. It's one of the very few institutions in the nation to still offer a 4.00% APY 5-year CD. Other top rates include a 3.50% APY 4-year CD, a 3.00% APY 3-year CD and a 2.25% APY 2-year CD. Minimum deposit is $500. These rates are listed in the credit union's CD rate table and IRA CD rate table as of 6/28/2010. These long-term CD rates have held since last summer.

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 other credit unions.

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.

Update 6/29/10: The reader Alan found that members of Weavers Way Cooperative qualifies for credit union membership, and the cooperative is easy to join. Refer to Alan's comment and the Weavers Way membership page for more details. Update 7/29/10: The credit union has added an additional requirement for Weavers Way members: they must also be residents of PA to qualify for credit union membership.

Note, it is generally true for all credit unions that once you join a credit union via your membership in an organization or based on your employer, you do not have to maintain that membership or employment to continue to be a member of the credit union.

In May 2009 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 with the credit union before joining the association.

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 (based on 3/31/10 data) and 4 stars (sound) at Bankrate.com (based on 12/31/09 data). It's a large credit union with $3.6 billion in assets. 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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Comments
14 Comments.
Comment #1 by Alan posted on
Alan
I do not live in PA and have had no difficulty joining PFFCU or in opening CD's in the last few months.

1
Comment #2 by Tina (anonymous) posted on
Tina
Question to Alan -

 

Would you mind sharing your experience how you joined PFFCU consider you don't live in PA? Thank you!

4
Comment #4 by Anonymous posted on
Anonymous
WHERE IS 3 PEOPLE FROM ROSCOMMON COUNTY

-4
Comment #5 by Anonymous posted on
Anonymous
I would also like to ask Alan to let us know how he became a member, so perhaps others here could become members

1
Comment #6 by Jo/GaelicWench (anonymous) posted on
Jo/GaelicWench
Wow! That is a pretty extensive list of those who qualify for membership. It even stretches out to organizations and businesses in NJ.

Pretty impressive....

0
Comment #9 by BT (anonymous) posted on
BT
Just joined with Dept of Homeland Security relationship. Live in NY. So far, looks easy.

0
Comment #10 by Alan posted on
Alan
There are many different organizations you can join to qualify for membership in PFFCU.  I joined the Weavers Way Cooperative ($30 membership fee) since they are doing a lot of great things in the Philadelphia area.  Once you pay your Weavers Way Coop membership fee, PFFCU requires a confirmation letter (on Weavers Way stationery) verifying your membership.  You can then fax this letter to PFFCU and complete the application process in a few minutes.

To make things very easy, contact Kirsten (Membership Office) at Weavers Way Cooperative, (215) 843-2350  ext 119.   She was kind enough to speed up the process by faxing a copy of the letter to me.   You can also reach Kirsten by email at member@weaversway.coop.

PFFCU provides excellent service and rates.

Alan

7
Comment #11 by Kristen G. (anonymous) posted on
Kristen G.
This is an exact quote from the Weavers Wa website re: membership:

"Among the requirements for membership in Weavers Way is an investment in the Co-op's equity. Each household invests up to $400 in equity in the Co-op (or more, if they choose)."

Can someone explain this requirement?  Is it absolute?  Is it worthwhile to spend $400 for the eligibilty to join the PFFCU credit union?  Would appreciate some insights, maybe from Weavers Way members.  Thanks.

 

0
Comment #12 by Alan posted on
Alan
See my previous post, contact Kirsten in membership.  The cost of membership is $30.  Kirsten will explain this to you.

Alan

 

2
Comment #14 by Inforay (anonymous) posted on
Inforay
Alan, your information was most helpful.  Thank you very much.

1
Comment #15 by SP (anonymous) posted on
SP
 

Alan, the PFFCU website specifies that a membership in Weaver's Way would only be accepted as a premise to PFFCU membership if the person resided in PA, NJ, or DE.  Is this the situation with you?  If not, how did you get around this requirement.........SP

0
Comment #16 by njuser (anonymous) posted on
njuser
I joined WW but now I am unable to get onto the PFFCU online membership page.

0
Comment #17 by njuser (anonymous) posted on
njuser
Ok site working fine now.

0
Comment #19 by OLD PHILLYCOP (anonymous) posted on
OLD PHILLYCOP
AS A 50YEAR -PLUS  MEMBER OF PFFCU  I STRONGLY OPPOSE MEMBERSHIP TO PERSONS WHO ARE NOT COPS FIREMEN LOCAL LAW ENFORCEMENT AND THEIR FAMILY MEMBERS (NOMINATED BY PRESENT ACTIVE MEMBERS) 

2