Dedicated to Deposits: Deals, Data, and Discussion
Third Federal Savings and Loan (OH)2.00%$500-72 Month CD
Accounts mentioned in this post. Rates as of August 20, 2014

Competitive Long-Term CD Rate at Third Federal in Florida & Ohio


Third Federal Savings and Loan (OH)

I last reported on Third Federal Savings & Loan about 29 months ago when its 6-year CD had a 4.00% APY. Several commenters considered a rate that low and a term that long as "crazy". Two and a half years later, interest rates are now much lower, and I'm sure many would consider Third Federal's latest 6-year CD as crazy. It's not the best rate, but for those who prefer to bank at branches in South Florida, it's competitive with a 2.50% APY as of 7/14/2011.

The minimum deposit is $500. More details and rates for other CD terms are available from the bank's CD page. The rates are not the only thing that have become worse at Third Federal since 2009. The early withdrawal penalty has also become worse. According to the bank's disclosure, the penalty is 360 days of interest for terms of 3 years or more. It used to be half of that.

In addition to opening the CD at a branch, there's an online application. However, IRA CDs can only be opened at a branch. In the online application, the CD can be funded by check or ACH transfer.

For those who prefer opening CDs at an office, Third Federal branches are located in Ohio and in South Florida (both on the east and west coast).

Don't confuse Third Federal with Fifth Third. They're two different banks.

Third Federal is a sizable bank with $10.69 billion in assets. It has an overall health score at of 4 stars (out of 5) with a Texas Ratio of 14.64% (above average). Please refer to our financial overview of Third Federal for more details. The bank has been a FDIC member since 1938 (FDIC Certificate # 30012).

How This CD Rate Compares

For nationally available CDs, you can get higher rates with a 5-year term, but these are becoming harder to find. The two best 5-year CD rates for a bank is 2.65% APY at Quaint Oak Bank and 2.54% APY at EverBank (as of 7/14/2011). Higher rates are available from easy-to-join credit unions. The best without a checking requirements is 2.83% APY at University Federal Credit Union. 6-year CDs are rare. 7-year CDs are more common, and the best nationally available 7-year CD rate is 3.00% APY at (just dropped from 3.10%).

Searching for Top CD Rates

To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of

  Tags: CD rates, Third Federal Savings and Loan (OH), Ohio, Florida

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Comment #1 by Teacher posted on
I have been a 3rd Fed customer for years.  They are very stubborn with rules -place as long a hold on your money no matter how long of a customer you are or how much you have there.  Their internet banking is lousy.  For this reason when my last CD matures in September, I will be closing my checking accounts and end my 10 year relationship with them.  Customer service stinks and they are rude.  Hope Mr. Stefansky (?) (owner) sees this comment. CS needs a shake up!

Comment #2 by emdtech posted on
I can see why the first comment was posted - you have all types of people in customer service at any S&L or bank. Overall I give 3rd Fed high remarks for "caring about customers". Example: Antonette Howard in the IRA department - top notch person who cares about people and the service they deliver. She has helped me many times and will always return my call to see if she can resolve an issue.

Rates have been lowered as result of 3rd Federal becoming a "public" company.

Rates for mortgages have been competitive, however they are selective on who they will lend money to as well as they perform proper due diligence before lending. They do NOT sell their paper.

I currently do not have funds at their S&L due to the changes in rates offered over the past few years, but I do have a 2.24% HLOC until 2015 (tied to prime - 1.01%) - no one would have continued this offer today at any bank. They would have found a way to rescind the offer.

Look at the bigger picture when judging this S&L (Ken - it is not a bank).