1st Gateway Credit Union (Iowa) suggests you "Give the Gift that Keeps Giving Year After Year" with a 40-month CD (2.05% APY). The minimum opening deposit is $10K and there is no maximum balance cap.
According to CSR, the Early Withdrawal Penalty is determined on a case-by-case basis, with the amount being withdrawn and remaining term length figuring into the calculation.
Membership in 1st Gateway Credit Union (1st Gateway) is residency based. Anyone who lives or works in the eastern Iowa counties of Cedar, Clinton, Dubuque, Jackson, Jones and Scott, or the western Illinois counties of Bureau, Carroll, Henry, Jo Daviess, Lee, Ogle, Rock Island, Stephenson, and Whiteside, is eligible for membership. In addition, relatives of existing credit union members are also eligible to join.
Joining 1st Gateway and/or opening the 40-month CD Special can be done by visiting any of four Iowa branches, located in Camanche, Clinton, DeWitt, or Fulton. A copy of the membership application can be downloaded from 1st Gateway’s website.
Credit Union Overview
1st Gateway Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas ratio of 10.42% (excellent) based on June 30, 2014 data. In the past year, 1st Gateway (FICU Charter # 63124) has increased its total deposit by $8.28 Million, an excellent annual growth rate of 10.79%. Please refer to our financial overview of 1st Gateway Credit Union for more details.
Headquartered in Camanche, 1st Gateway is the 18th largest credit union in Iowa. 1st Gateway recently passed the $100 Million asset milestone. According to 1st Gateway CEO, Pat Drennen,
1st Gateway has had exceptionally strong deposit and loan growth over the past 12 months despite increased competition in the market. We are proud to have reached this significant milestone. With our continued growth, both in members and asset size, we look forward to helping our members achieve their financial goals for many years to come.
How the CD Compares
When compared to other similar length-of-term CDs tracked by DepositAccounts.com, that require a $10K or less minimum deposit and available to Iowa residents, 1st Gateway Credit Union's 40-month CD is clearly competitive:
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.