XCEL Federal Credit Union has several competitive CD and IRA CD rates. The best ones are its long-term CDs. These include a 2.70% APY 5-year CD and a 2.45% APY 4-year CD. Minimum deposit is $100K. Rates are 5 basis points lower for a $20K minimum and 10 basis points lower for a $500 minimum. For very large deposits of at least $250K, you can get an extra 5 basis points. These rates are listed in the credit union's rates page as of 10/24/2011.
The credit union also is advertising a 2-year bump-up CD with a 1.50% APY with a $500 minimum deposit. This is listed in credit union's front page as of 10/24/2011. The promo page is listed here. If the credit union's rate increases you are eligible to use a one-time bump-up in the rate.
The rates page has a March 2011 date, but I contacted the credit union using their online chat, and according to the CSR these rates are up-to-date. I wasn't able to get details about the CD's early withdrawal penalties. All the CSR would say is "The penalty is determined the term and length of time funds have been it the CD (you only lose on the interest not the principal)."
In addition to several select employee groups, credit union membership is also open to members of The American Consumer Council. You can learn about membership in this organization here. Please refer to the credit union membership page for more details. I confirmed with the CSR that members of The American Consumers Council are eligible to join. Also, membership can be done online without a branch visit.
XCEL Federal Credit Union branches are located in Jersey City and Old Bridge, New Jersey. There's also a branch in New York City. The credit union is part of the shared branch network, CU Service Centers. It's also part of the CO-OP ATM network.
It's a small credit union with only 33 employees and $128 million in assets. It has an overall health score at DepositAccounts.com of 3 stars (out of 5) with a Texas Ratio of 15.94% (average) based on June 2011 data. Please refer to our financial overview of XCEL Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 16218).
How These Rates Compare
The credit union's special 2-year bump-up CD compares favorably to other nationally available 2-year CDs. Ally Bank's 2-year Raise Your Rate CD yield is only 1.27% APY. The best 2-year CD rate at an all-access credit union is 1.70% APY ($25K minimum) at Alliant Credit Union. However, this doesn't have an bump-up option.
XCEL FCU's 4-year and 5-year CD rates are very competitive compared to what's available nationwide. The best nationally available 4-year CD rate is 2.20% APY ($25K minimum) at Alliant Credit Union and the best 5-year CD rate is 2.68% APY at Melrose Credit Union. You can get a little higher rates at Digital Credit Union, but this requires a relationship checking.
These rates are accurate as of 10/24/2011.