Xceed Financial Credit Union just came out with a new CD special. It has a 1.50% APY and a 17-month term. Minimum deposit is $500. This special isn’t available in an IRA, but there is a special 14-month IRA CD with a 1.40% APY. Xceed is still offering a special 7-month CD and IRA CD with a 1.00% APY and a special 19-month CD and IRA CD with a 1.25% APY. These special CD rates are listed on the credit union's rates page and in the credit union's news & events page as of 1/28/2014.
Xceed has a history of CD specials. I reviewed the last one in November.
The credit union has two features that make it convenient for members who don't live near one of its branches. First, it's part of the shared branch network which allows members to perform many banking transactions from branches of other credit unions around the nation. Second, it belongs to the CO-OP and Allpoint ATM network for surcharge-free access.
Membership is open to members of several organizations. One is the Friends of the Webster Public Library which anyone can join for a $8 fee ($5 for those 60 and over). You can also be eligible to join the credit union without joining an association if you live, work, worship or attend school in various communities around the nation. Some of these include San Jose, California, St. Petersburg, Florida and Dallas, Texas. For the full details of eligibility, please refer to the credit union's Membership page.
Credit Union Overview
Xceed Financial Credit Union started in 1964 as Scientific Data Systems Credit Union and became Xerox Federal Credit Union in 1970. In 2008, the credit union changed its name to Xceed Financial Credit Union.
Since the Xceed Financial used to serve Xerox employees, its branches were located near Xerox facilities in several parts of the nation. Current branches are located in California, Connecticut, Illinois, New Jersey, New York and Texas.
The credit union has an overall health grade at DepositAccounts.com of an A+ with a Texas Ratio of 4.50% (excellent) based on September 2013 data. Please refer to our financial overview of Xceed Financial Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 20068).
How These CD Rates Compare
The highest 18-month CD rate that’s available nationwide is 1.15% APY at AloStar Bank of Commerce. GE Capital Retail Bank has a special 15-month CD with a 1.15% APY.
Another option to an 18-month CD is a long-term CD with reasonable early withdrawal penalties. Two examples is PenFed’s 2.22% APY 4-year CD with a 6-month early withdrawal penalty. If this CD is closed after 18 months, the effective APY after the early withdrawal penalty is 1.48%. Close behind this is the Barclays 5-year CD which has a 2.15% APY. This also has a 6-month early withdrawal penalty. If this CD is closed after 18 months, the effective APY after the early withdrawal penalty is 1.43%.
These rates are accurate as of 1/28/2014.
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 DepositAccounts.com. Use the "Filter Accounts" button on top of the table to select either nationwide accounts and/or your state.