United Federal Credit Union is offering a few good CD and IRA CD deals. First, there's a share certificate special with a 43-month term. Rates are based on the deposit amount: 1.60% APY for $100K, 1.50% APY for $50K and 1.35% APY for $500. The credit union's long-term premier certificates are also good deals. The best one is a 2.00% APY 5-year CD with a $100K minimum deposit. The yield is 1.90% for a $50K minimum. The special CD rates are listed in the credit union's spring share certificate special page as of 4/17/2012. The other CD rates are listed in the credit union's deposit rates page as of 4/17/2012. Note, these rates may vary by state.
One nice thing about the credit union's premier certificates is that it provides some liquid features. The details are listed in UFCU's certificates page under premium certificates. I confirmed that these features are for the premier certificates listed in the rates page:
- Add-on deposit allowed once during the term of your certificate, from $1,000 up to $100,000: bring additional savings to your original Certificate and continue earning one premium investment rate.
- Rate bump-up allowed once during the term of your certificate: if rates go up you can switch to a higher rate and enjoy additional earnings (terms greater than 12 months)
- You can make one penalty-free withdrawal during the term of your certificate, down to a minimum balance of $50,000 (terms greater than 12 months)
Some readers may already be members of UFCU due to its old reward checking promotion. Back in 2008 it was guaranteeing 6.01% for up to $25K until 2010 on its reward checking account, called Interest Plus Checking. The rate is now 2.20% APY for up to $25K (as of 4/17/2012). Please refer to UFCU's Interest Plus Checking page for more account details.
One nice change since my 2008 reports is an expanded field of membership. The credit union is now open to anyone who lives, works, worships, or volunteers in any of the 6 states where it has branch locations, plus some areas of neighboring states. These states include: Arkansas, Indiana, Michigan, Nevada, North Carolina, Ohio and Oklahoma (eastern). Please refer to UFCU's membership page for more details.
The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 6.92% (excellent) based on December 2011 data. Please refer to our financial overview of United Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 6288).
How These CD Rates Compare
The 5-year CD rate that's nationally available is 2.36% APY at Michigan State University FCU. This requires a $100K minimum deposit. If you have a military connection, you may be able to qualify for Air Academy Federal Credit Union which has a 2.45% APY 5-year CD for a $10K minimum deposit.
For a minimum deposit of $5K, the best 5-year CD rate is 2.27% APY at Melrose Credit Union. This credit union also has the best 3-year and 4-year CD rates of 1.86% APY and 2.07% APY.
These rates are accurate as of 4/17/2012.
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.