Dedicated to Deposits: Deals, Data, and Discussion
HEW Credit Union2.02%$2k-60 Month IRA (Traditional,Roth)
HEW Credit Union1.25%$2k-60 Month Silver Share Certificate
HEW Credit Union0.80%$2k-36 Month Silver Share Certificate
HEW Credit Union0.65%$1k-24 Month Silver Share Certificate
Accounts mentioned in this post. Rates as of August 29, 2014

Top CD and IRA CD Rates at HEW Federal Credit Union in DC - Local Only


HEW Credit Union

Savers in the Washington DC metro area are fortunate to have several credit unions with competitive deposit rates. In September I reported on competitive CD rates at the Department Of Commerce FCU and at the US Senate FCU. We can add another to this list with HEW Federal Credit Union. It's offering several competitive CD and IRA CD rates. Its CDs are called Silver Share Certificates, and the best rates are 1.75% APY for 2 years, 1.81% APY for 3 years and 2.52% APY for 5 years. The 3-year and 5-year IRA CD rates are even better: 2.17% APY for 3 years and 2.78% APY for 5 years. These rates are listed in the credit union's rates page as of 11/18/2011. I noticed the IRA rate table includes the column "minimum additional deposit". So it appears these IRA CDs allow additional deposits.

HEWFCU has a new member CD special which gives new members an extra 0.75% on the standard 1-year CD rate (1.15% APY). However, this new-member CD doesn't appear to be the typical CD. There's a $50 opening deposit, and according to the small print, direct deposit is required. So it appears the amount that you can deposit is limited to amounts of your direct deposit.


Credit union membership is open to those who live, work, worship, or attend school in Washington D.C., Alexandria, Arlington, Fairfax, or parts of Prince George's or Montgomery counties. Please refer to the credit union's membership page for the full details.

HEWFCU Overview

HEW Federal Credit Union branches are located in Washington DC; District Heights, MD; Falls Church, VA; and Philadelphia, PA .

The credit union has an overall health score at of 5 stars (out of 5) with a Texas Ratio of 11.16% (above average) based on June 2011 data. Please refer to our financial overview of HEW Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 1407).

How These CD Rates Compare

As I mentioned above, there are several DC credit unions with competitive rates. However, HEWFCU's 2-year CD rate is the best at 1.75% APY. It far exceeds the best nationally available 2-year CD rate of 1.51% APY at Velocity Credit Union and the best 2-year CD rate at a bank (1.32% APY at CIT Bank).

For longer terms, CD rates at Department of Commerce FCU are a little higher.

These rates are accurate as of 11/18/2011.

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: HEW Credit Union, CD rates, IRA rates, Maryland, Virginia

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Comment #1 by Anonymous posted on
Actually it says deposits must be made in 50$ increments for the 1 yr CD - what does that mean.

No I will keep my money at Noah Bank fort lee NJ 1.65% MMA promo guaranteed to 6/2012

Comment #2 by pearlbrown posted on
It means additional deposits must be amounts like $50,100,150, etc., not $5.37, $12, $25, etc.

Comment #3 by TB (anonymous) posted on
Warning, do not bank with this CU if you ant to kep your hair. No offense to the author of this article, but have you ever contacted HEW by phone or walked into one of their offices? A slightly higher rate is not worth the problems dealing with this FI. The service is ohh so very poor, horible call center and branch hours within govt buildings and the one office they do have is all the way out in a very bad part of town (District Heights, MD). There are way too many choices of great service banking organizations and credit unions in the DC metro area, don't waste your time and money.