It has been over a year since my last post of Justice Federal Credit Union. Over the years I have done several posts on this credit union due to its competitive rates and a field of membership that allows many people to qualify. Even though many may be able to qualify for JFCU membership, it doesn't mean it's easy as a reader described in this review. Because of this problem, I haven't mentioned this credit union for the last year. However, it continues to offer some top CD rates. Also, several readers have been able to join. Thus, I thought it would be useful to mention this credit union for those wanting all possible CD rate opportunities.
The best deal is JFCU's 5-year Jumbo CD and IRA CD which has a 2.35% APY. Also, competitive are the 1.60% APY 3-year CD and the 1.20% APY 18-month CD. These require a minimum deposit of $100,000. Rates are 10 basis points lower for $1,000 minimum deposit. These rates are listed in the credit union's rates page as of 3/5/2012.
The details of the CDs are listed in the credit union's share certificate account page. According to this page, "a certificate with a term of 13 months or more will lose 180 days of dividends for early withdrawal."
JFCU membership eligibility is based on employment in Select Employer Groups and membership in certain law enforcement organizations. A list of eligible law enforcement associations is available at this section of the membership page. A couple of these associations allow anyone to be a member for a fee. Once you are eligible, the instructions for joining provide an application that can be downloaded. Membership requires a minimum balance of $5 in the share savings account.
As I mentioned above, even though anyone can qualify for membership, it doesn't mean that it's easy to join. I have more details in my 2011 JFCU CD review. Also, this forum thread provides many issues and tips for those who want to join. Pay particular attention to the tips at the end of this thread.
Justice Federal Credit Union branches are located in Washington DC, Los Angeles, San Diego, New York, Texas, Virginia and West Virginia. Many of their branches have restricted or limited access. They are members in the Shared Service Center which allows you to perform many banking transactions at credit unions around the country.
JFCU has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 5.98% (excellent) based on December 2011 data. Please refer to our financial overview of Justice Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 151).
How These CD Rates Compare
Other than JFCU, the best 5-year CD rate that's available nationwide is 2.27% APY at Melrose Credit Union. The best 18-month CD rate that's nationally available is 1.20% APY at KeySource Commercial Bank. These rates are accurate as of 3/5/2012.
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 DepositAccounts.com.