Dedicated to Deposits: Deals, Data, and Discussion
McGraw Hill Credit Union1.50%$10k-60 Month CD
Accounts mentioned in this post. Rates as of August 27, 2014

Top CD Rates at McGraw-Hill Federal Credit Union - Easy Membership


McGraw Hill Credit Union

Update 5:40pm 10/04/2011: The 5-year CD APY with a $10K minimum has fallen to 2.25%.

If you missed the 5-year CD deal at US Senate FCU, this might be another chance to lock into a 3% CD. McGraw-Hill Federal Credit Union is listing a 5-year share certificate with a 3.00% APY for a minimum $10,000 deposit. This is listed in the credit union's rates page as of 12:00pm 10/04/2011. I was a little skeptical of this rate since it was so much higher than the lower tier rate that requires a $500 minimum. I just called the credit union at 800-226-6428, and the CSR confirmed that it is correct. I was told the rates typically change once a month, but they can change at anytime. The CSR wasn't clear on the early withdrawal penalty. It appeared to be up to 90 days of interest. I couldn't find a disclosure on the website with this info. If you receive more information from the CSR, please leave a comment.

The credit union also has a good 8-month CD deal. It's called the Solar CD, and it has a 2.00% APY for an 8-month term. Minimum deposit is $1,000 and the maximum is $25,000. This also requires a checking account with direct deposit of at least $500 per month. This is listed in the credit union's Solar CD page as of 10/04/2011.

Membership Eligibility

When I last posted on this credit union, the membership appeared to be limited to certain select employee groups (connected with the McGraw-Hill Company). However, I just noticed on their express application it mentioned the VOICE Foundation. According to the CSR, you can join this foundation with a $25 payment, and that will qualify you for credit union membership. I was told that the best way to join would be to submit this application, and let them contact you for information on what needs to be mailed to join and open the accounts. I don't know how quick and easy this process might be.

The membership process will be quicker if you can visit a branch. McGraw-Hill Federal Credit Union branches are located in New York, NY and in East Windsor, New Jersey. The credit union is also part of the shared branch network which can make it quicker for making deposits and withdrawals.

McGraw-Hill FCU Overview

It's a moderate size credit union with $208 million in deposits and 44 employees. The credit union has solid financial ratings. At it has 5-star rating (out of 5) with a Texas Ratio of 1.17% (excellent) based on June 2011 data. Bankrate gives it 4 stars based on March 2011 data. Please refer to our financial overview of McGraw-Hill Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 861).

How This CD Rate Compares

After this McGraw-Hill FCU deal, the best 5-year CD rate that's nationally available is 2.68% APY at Melrose Credit Union. For banks, the 5-year CD rates are much lower. The highest 5-year bank CD rate that's nationally available is 2.20% APY at First Internet Bank. These rates are accurate as of 10/04/2011.

Searching for the Best CD Rates

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

  Tags: McGraw Hill Credit Union, CD rates, New York, New Jersey

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Comment #1 by LOF (anonymous) posted on
CSR stated 90 days EWP for the 5 yr.

Comment #2 by Anonymous posted on
Early withdraw for a 5 year CD is 180 days. The representative is clueless... I had to have her read me the statement. It is 90 days for the 1 year CD. Anything over that, it is 6 months. And she kept saying: or the date of insurance... finally i understood .. she ment or the day of issuance.... Geez... what a horrible experience. I left a message for the manager to call me...


Comment #3 by Bozo posted on
My sorry-**** CD ladder is yielding a paltry 2.9%. My stocks seem to be going down by that amount daily. Oh, well.

Comment #4 by 51hh posted on
Hi Bozo,


There is no place to hide these days; might as well spend all the money as we go.


Comment #5 by mak1118 posted on
Bozo: At least you know you're going to get the 2.9%. One more rally in the stock market and then that's it, don't buy stocks after the next rally until spring of 2013.

Comment #6 by Anonymous posted on
ok, here is what she said is written on the CD:


If the maturity of the share certificate is 1 year or less, the forfeited divident is equal to the smaller of the two amounts: dividents since the day of issuance or renew OR 90 days of dividents

If the maturity of the share certificae is more than 1 year, the forfeited dividents are equal to the smaller of the two: dividents since issuance or renewal OR 180 days of dividents.

whew... i had to pull teeth to get this from them...


Comment #7 by Anonymous posted on
Wow, and they even spelled dividends wrong. Not sure this is a place I trust with my money.

Comment #8 by Anonymous posted on
hahah, no that was my error on the spelling of dividents :-)

Comment #9 by Anonymous posted on
don't bother! the idiots changed the rate as soon as i sent them the application and told me it was an error and already have changed it on their site!

Comment #10 by LOF (anonymous) posted on
This morning, the CSR said 60 days (EWP) plus I used the words "are you sure", was confirmed again 60 days plus the 3.00% apy.  Just checked the web site, like noted above, said rate vanished. Just deleted said CU from my list.  Glad I didn't waste much time on this.  Anyway I was able to fund the U.S. Senate FCU last week.

Comment #11 by Anonymous posted on
i was the one who reported the US Senate Federal Credit Union rate .. opened the account, paid my $35 bucks but unfortunately did not fund a CD on time... sob... so i am still looking..

Comment #12 by Anonymous posted on
the 3% is gone already on 60 mo IRA CDs

Comment #13 by Anonymous posted on
to #11

thank you for posting the senate credit union rate.  I'm sorry you didn't get yours funded in time.  That just doesn't seem fair!

Comment #14 by Anonymous posted on
thank you #11. it really is my fault for not funding it on the day that i found the deal and opend the account with ussfcu. i could have pulled $$ from the several reward checking accounts i have but was waiting for a cd that is maturing on the 8th of october. i actually asked the lady if i should hurry and open it before october and she said that those rates had been there for a while and even though they could change in october, they would not most likely change significantly. wrooooong... it's ok... we live and learn. i am glad i was able to contribute to this site and you and hopefully some other people too, were able to take advantage of this. i know my financial status is sooo many better than it would have been had it not been for ken, this blog and the wonderful people who read it and participate. cheers!