4Front Credit Union (MI) Unveils Rate-Leading 13-Month CD Specials


Deal Summary: 13-month CD Special, 5.12% APY, $1k minimum of new money. 13-month Jumbo CD Special, 5.27% APY, $100k minimum of new money.

Availability: All Michigan counties

For a limited time, 4Front Credit Union (4Front) is offering excellent rates on its 13-month CD Special (5.12% APY) and Jumbo CD Special (5.27% APY). New money is required with a minimum deposit of $1k for the CD Special and $100k for the Jumbo CD Special. According to CSR, “new money” is defined as funds coming from an external financial institution.

The CD Special and Jumbo CD Specials are also available as IRA CD Specials (Traditional and Roth), earning the same APYs with the same deposit requirements.

As stated in the Membership/Account Agreement brochure (page 7), the Early Withdrawal Penalty reads as follows:

A penalty will be imposed for withdrawals before maturity.

    For accounts having a term equal to or less than 18 months, the penalty
    imposed will equal 30 days of dividends on the amount withdrawn.

There is no language in the Membership/Account Agreement that allows 4Front to deny a withdrawal, but “penalties may reduce principal balance” if a withdrawal is made within 30 days of account opening.

Availability and Account Opening

Headquartered in Traverse City, Michigan, 4Front Credit Union’s field of membership (FOM) is community-based, with individuals who live, work, worship, or attend school in any of Michigan’s 83 counties eligible to join.

Immediate family members of an existing 4Front member also qualify for membership.

Joining 4Front can be done online or at any of the 17 Michigan branches located in Bellaire, Boyne City, Cadillac, Charlevoix, East Jordan, Kalkaska, Mancelona, Manistee, Petoskey (2), and Traverse City (7). Appointments are available and can be scheduled online. The Membership Application is also available as a PDF that can be downloaded.

The basic share deposit that you must always keep in your 4Front Prime Share Account to retain membership is $1.00.

CDs are not listed on the online application. A CD Special can be opened at any of the above-mentioned branch locations, or over the phone (231-929-2000 or 800-765-0110) once a membership application has been approved. Existing members can open a CD Special in-branch or over the phone (231-929-2000 or 800-765-0110).

Funding and Other Details

The following information is from a conversation with CSR.

  • Funding – ACH, wire, debit card (up to $5k).
  • CO-OP Shared Branch Participant – No.
  • Dividends – Compounded/credited monthly. Dividends can be reinvested, withdrawn by check, or transferred to another 4Front account.
  • Maturing Funds – Automatic transfer to 4Front Share Account, then can be disbursed by ACH, wire ($20 fee), or cashier’s check.
  • Beneficiaries – Unlimited, default is equal shares (assigning percentages must be done in-branch), Social Security numbers are not required.
  • Grace Period –10 calendar days before automatic renewal as regular 12-month CD.
  • Credit Check – Soft pull.

Credit Union Overview

4Front Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 7.60% (excellent) based on September 30, 2022 data. In the past year, 4Front has increased its total non-brokered deposits by $79.42 million, an excellent annual growth rate of 10.07%. Please refer to our financial overview of 4Front Credit Union (NCUA Charter # 61365) for more details.

4Front is currently the 24th largest credit union headquartered in Michigan, with more than 98,000 members and assets in excess of $976 million. 4Front Credit Union opened its doors for business in January 2015, following the merger of Members Credit Union (Traverse City) and Bay Winds Federal Credit Union (Charlevoix). Between the two founding credit unions, there was 120 combined years of service to the residents of Northern Michigan.

According to a January 11, 2023 Credit Union Times article, 4Front is planning on its first bank acquisition.

If approved by regulators and shareholders, Michigan’s 4Front Credit Union’s proposed acquisition of Old Mission Bank will increase the financial cooperative’s managed assets to more than $1.1 billion later this year.

The $976 million 4Front Credit Union headquartered in Traverse City and the $130 million OMB based in Sault Ste. Marie jointly announced Tuesday they have signed a definitive agreement for the credit union to buy the bank’s assets and assume its liabilities.

Established in 2000, OMB has two branches in the Upper Peninsula, with $118 million in deposits and $9.4 million in capital. The proposed purchase will establish a footprint for 4Front in the UP.

How the 13-Month CD and Jumbo CD Specials Compare

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, no banks or credit unions have higher rates than offered on 4Front Credit Union 13-month CD/Jumbo CD Specials, regardless of minimum deposit requirements. The following table compares the 13-month CD/Jumbo CD Specials to the two highest-rate CDs from banks, and the two highest-rate CDs from other credit unions.

The above information and rates are accurate as of 2/9/2023.

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

Related Pages: Traverse City CD rates, Grand Rapids CD rates, 1-year CD rates

4Front Credit Union Statewide Rewards Checking Available Online
Deal Summary: Straight4ward Rewards Checking, 4.08% APY up to $15k

Availability: Michigan residents

About two years ago, 4Front Credit Union (4Front) introduced its new rewards checking account (RCA), Straight4ward Rewards Checking. The good news is the initial 4.08% APY on qualifying balances up to $15k is still in effect today. The not-so-good news is that balances above $15k and non-qualifying balances earn no interest. The better news is that Straight4ward Rewards Checking account can now be opened online.

In my October 2018 4Front blog...

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4Front Credit Union (MI) Adds Rewards Checking
Deal Summary: Straight4ward Rewards Checking, 4.08% APY up to $15k

Availability: Residents of Michigan

Earlier this month, 4Front Credit Union (4Front) unveiled its new rewards checking account (RCA), Straight4ward Rewards Checking, which earns 4.08% APY on qualifying balances up to $15k. Balances above $15k and non-qualifying balances do not earn any interest. For whatever reason, RCAs have been slow to keep pace in the current rising rates climate, so it’s quite nice to see a new 4%+ RCA.

Monthly Qualifying Requirements

  • Deposit $500 or more (direct...
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