1st MidAmerica Credit Union Ups 35-Month CD Rate


Deal Summary: 35-month CD, 3.39% APY, $1k minimum deposit

Availability: Residents of 21 southern Illinois counties and one Missouri county.

1st MidAmerica Credit Union (1st MidAmerica) recently raised the rate on its 35-month CD to 3.39% APY. Added to the product line in late November, the 35-month CD originally earned 3.03% APY. A minimum $1k opening deposit is required, with no stated balance cap.

The 35-month CD is also available as an IRA (Traditional, Roth, and CESA), earning the same APY with the same funding requirements.

In a Live Chat, CSR stated that the Early Withdrawal Penalty is “about 6 months worth of interest”, with only early closures allowed; no partial withdrawals are permitted.

Excess Share Insurance

Large deposits at 1st MidAmerica are protected by Excess Share Insurance (ESI).

Deposits are insured to at least $250,000 through the National Credit Union Administration, a federal agency. Deposits are insured up to an additional $250,000 through ESI, a private insurer.


Headquartered in Bethalto, Illinois, 1stMidAmerica Credit Union’s field of membership (FOM) is primarily residency-based, with individuals who live, work, or “maintain an address” in Jackson County, Missouri, or in any of the following 21 southern Illinois counties eligible to join.

Illinois Counties - Bond, Calhoun, Christian, Clinton, Fayette, Greene, Jefferson, Jersey, Macon, Macoupin, Madison, Marion, Morgan, Monroe, Montgomery, Pike, Randolph, St. Clair, Sangamon, Scott, and Washington.

Employees of more than 95 SEGs (including several union locals, school districts, and local government agencies) also qualify for membership.

Individuals who are related “by blood, marriage, or adoption” to current 1stMidAmerica members are welcome to apply.

Joining 1stMidAmerica and/or opening a CD can be done at any of 11 Illinois branches located in Alton (2), Bethalto, Decatur, East Alton, Edwardsville, Godfrey, Granite City (2), Jerseyville, and Wood River. There is also a full-service branch in Independence, Missouri, located on East Valley View Parkway.

Credit Union Overview

1st MidAmerica Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 4.00% (excellent) based on September 30, 2018 data. In the past year, 1st MidAmerica has increased its total non-brokered deposits by $19.28 million, an excellent annual growth rate of 3.4%. Please refer to our financial overview of 1st MidAmerica Credit Union (NCUA Charter # 63932) for more details.

1st MidAmerica Credit Union is currently the 13th largest credit union in Illinois, with more than 67,000 members and assets in excess of $739 million. Established in 1934 as the Olin Employees Credit Union, the original FOM included the employees of the Olin Brass company in East Alton, Illinois. Starting in the 1980s, the Credit Union began to expand its FOM and merged with a few credit unions, which lead to two re-brands: first as the Olin Community Credit Union and finally, as 1st MidAmerica Credit Union

How the CD Compares

When compared to 310 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, 1stMidAmerica Credit Union's 35-month CD APY currently ranks first.

The above rates are accurate as of 12/10/2018.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table.

Related Pages: St. Louis CD rates, Kansas City CD rates, Champaign CD rates, 5-year CD rates

Special 35-Month CD Rate Continues at 1st MidAmerica Credit Union in Parts of IL & MO

1st MidAmerica Credit Union continues to offer a 35-month CD and IRA CD special. The yield has fallen since my October post, but it remains competitive with a 2.02% APY. The other special is a 1.41% APY 21-month CD. Minimum deposit is $1,000. These rates are listed at the credit union's savings rates page as of 1/24/2011. At the top of the table, it states "Effective January 21, 2011 to January 27, 2011".

This special 35-month CD rate compares favorably with the best 3-year CD rates from internet banks as of...

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Special 35-Month CD Rate at 1st MidAmerica Credit Union in Parts of IL & MO

1st MidAmerica Credit Union is offering a special 35-month CD and IRA CD with a 2.22% APY. There's also a special 21-month CD with a 1.71% APY. The standard 5-year CD rate is fair at 2.52% APY. Minimum deposit is $1,000. These rates are listed at the credit union's savings rates page as of 10/31/2010. At the top of the table, it states "effective October 29, 2010 to November 4, 2010".

The 35-month CD rate compares favorably with the best 3-year CD rate from an internet bank. That's at iGObanking.com which...

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