1st Financial Federal Credit Union (1st Financial) is currently offering four CD Specials, with the 8-month (3.00% APY) having the most competitive rate. The minimum opening deposit is $1k, with no stated balance cap. New money is required, which is simply defined as “funds not currently on deposit” with 1st Financial.
The CD Specials are also available as IRAs (Traditional, Roth, CESA), earning the same APY and with the same funding requirements.
As stated in the Truth-in-Savings disclosure, the Early Withdrawal Penalty reads as follows:
We will impose a penalty if You withdraw any of the principal funds before the maturity date. For Accounts having a term to maturity less than one year, the penalty imposed will equal 90 days dividends on the amount withdrawn.
There is a 10-day grace period before the CD Special automatically renews.
Headquartered in Wentzville, Missouri, 1st Financial Federal Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, worship, attend school, or regularly do business in the City of St. Louis, St. Louis County, or St. Charles Counties eligible for membership. 1st Financial defines “regularly do business” as individuals who are account representatives or who make deliveries in the FOM. “Some portion of their work must be done on a regular interval in our field of membership.”
Relatives of current 1st Financial members are also welcome to apply.
Joining 1st Financial can be done online or at any of four Missouri branches located in Hazelwood, St. Charles, St. Louis, and Wentzville. While some accounts (checking and savings) can be opened online, opening a CD Special must be done in-branch.
A Primary Savings Account can be opened with a minimum $1 deposit, establishing a membership with 1st Financial.
As a member of the CO-OP Shared Branch network, 1st Financial members have access to more than 5,000 Service Center locations and 30,000 fee-free CO-OP ATMs.
Whether you’re on the east coast or west coast, or anywhere in between, you can
use any of these services for free, just like your home branch down the street.
Credit Union Overview
1st Financial Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 6.50% (excellent), based on March 31, 2019 data. In the past year, 1st Financial has increased its total non-brokered deposits by $8.31 million, an excellent annual growth rate of 3.99%. Please refer to our financial overview of 1st Financial Federal Credit Union (NCUA Charter # 24774) for more details.
Established in 1968 as District 837 Credit Union, the original FOM consisted of all McDonald Douglas employees, including members of the International Association of Machinists (District 837). The Credit Union became known as the Aerospace Credit Union in 1979, and in 1993, “Community” was added to the name, following the adoption of a community charter. The FOM expanded to included St. Louis City, St. Louis County, and St. Charles County in 2004, with the 1st Financial Federal Credit Union rebrand occurred in 2006. 1st Financial Federal Credit Union is currently Missouri’s tenth largest credit union, with more than 34,700 members and assets in excess of $249 million.
How the CD Special Compares
When compared to 286 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available within the FOM, 1st Financial Federal Credit Union’s 8-month CD Special APY currently holds the top spot.
The above rates are accurate as of 6/18/2019.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.