Dedicated to Deposits: Deals, Data, and Discussion

Another Top 15-Month CD Rate at Aspire Federal Credit Union

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Aspire Federal Credit Union

Aspire Federal Credit Union increased the rate of its 15-month CD to the competitive level of 1.26% APY. Minimum deposit is $1,000. This rate applies to an eCertificate which are share certificates opened online via My CU Online. The rate is 0.10% lower if the certificate is opened at one of the credit union’s branches. This 15-month CD is listed in the credit union’s rates page as of 6/24/2014.

DETAILSINSTITUTIONAPYMINMAXPRODUCT
Aspire Federal Credit Union1.00%$1k-15 Month eCertificate
Accounts mentioned in this post. Rates as of July 25, 2014

For more details about the CDs, please refer to Aspire’s Policies & Disclosures page. In the bottom half of the list of disclosures, there are two links to the "Share Certificate Truth in Savings Disclosure". One is for branch rates and one is for web rates. According to the disclosure, the early withdrawal penalty for the 15-month CD is 90 days’ dividends.

This CD special is very similar to what Aspire offered last year, except that the special started in late July instead of June. It lasted until September 3.

The credit union also offers a reward checking account called Kasasa Cash. Both the rate and balance cap have fallen quite a bit since it was first launched over four years ago. It now pays up to 1.51% APY for balances up to $10K as of 6/24/2014. This rate has held since January 2012.

Credit Union Membership

Credit union membership is open to members of the American Consumer Council (ACC). Anyone should be able to join ACC. Aspire FCU has an online membership application, and in this application, you can choose the ACC option for membership. This option has the following instructions:

By choosing this eligibility option, I agree to the American Consumer Council (ACC) Membership Terms and Conditions and to become a member of the ACC through Aspire Federal Credit Union. There is no fee for ACC membership when I join Aspire Federal Credit Union. I further understand that my basic contact information will be provided to the ACC to establish my membership with their organization.

For more details, please refer to Aspire FCU’s eligibility requirements page.

The online application for membership allows the new member to select accounts like the savings and checking accounts, but CDs are not an option. To purchase the eCDs, you must first establish membership. Then you would log into home banking to open the eCD.

Credit Union Overview

Aspire FCU used to be FAA Eastern Region Federal Credit Union. Consequently, some of their branches are in FAA facilities that are not open to the public. Branches are located in New Jersey and New York.

The credit union has an overall health grade of a B with a Texas Ratio of 12.14% (above average) based on March 2014 data. Please refer to our financial overview of Aspire Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 5800).

How This CD Rate Compares

This CD rate just tops the 1.25% APY 15-month CD special at NASA Federal Credit Union. The best CD deal for a term close to 15 months continues to be the 17-month CD special at Xceed Financial Credit Union. That has a 1.50% APY. The best deal at an internet bank is a 15-month CD with a 1.15% APY. That’s at Synchrony Bank. These rates are accurate as of 6/24/2014.

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.


  Tags: New York, New Jersey, CD rates, Aspire Federal Credit Union

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Comments
Comment #1 by JB (anonymous) posted on
JB
Can anyone share their experiences with Xceed?  Also, what is the real risk of opening a 5 year bank cd and closing it after say 2 or 3 years?  Can the bank change it's early withdrawal penalty after the cd is opened?  Is this unlikely to occur? 

1
Comment #2 by paoli2 posted on
paoli2
Read the bank's Disclosures and see if they give themselves the right to do this. Whether they will is always a chance we take when purchasing CDs.  No way to really know.

1
Comment #3 by Anonymous posted on
Anonymous
Read all the comments about Xceed under its listing at DA

1