Dedicated to Deposits: Deals, Data, and Discussion

Fourth of July 3-Month CD Special at XCEL FCU - Easy Membership


Xcel Credit Union

XCEL Federal Credit Union is offering a "Fourth of July Special" that's available until July 6, 2012. The special is a 90-day CD with a 1.00% APY. Minimum deposit is $5,000, and the maximum is $250,000 per member. This special is listed on the credit union's hope page in moving text.

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. Last year I confirmed with a credit union CSR that members of The American Consumers Council are eligible to join. Also, credit union 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.

The credit union has an overall health score at of 3 stars (out of 5) with a Texas Ratio of 20.63% (average) based on March 2012 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 This CD Rate Compares

The highest 3-month CD rate that's nationally available at a bank is 0.66% at EverBank. If you're not already an EverBank customer, a better deal is EverBank's money market and checking promo which pays 1.25% guaranteed to last for 6 months from the time of account opening. The maximum balance that qualifies for this yield is $100K for the checking and $50K for the money market.

Another good short-term CD deal is the 11-month No Penalty CD at Ally Bank. This currently has a 0.93% APY. Since this has no early withdrawal penalty, a customer can make this CD have any term he or she wants from 7 days to 11 months. I reviewed my experience closing this CD early in my Ally No Penalty CD review.

The above rates are accurate as of 7/2/2012.

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

Other Fourth of July Bank Specials

ING DIRECT is again offering specials as part of its Financial Independence Days Sale. Unfortunately, there are no CD specials, but there are some good deals on new account bonuses. The promotion ends at the end of July 3, 2012. I reviewed these specials in my review of ING DIRECT's Financial Independence Days Sale.

Related Pages: Xcel Credit Union, CD rates, New Jersey, New York

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