Aberdeen Proving Ground Federal Credit Union (APGFCU) is offering a 15-month CD (1.50% APY) that expires on March 31, 2016. The minimum deposit is $100, with no balance cap.
APGFCU also has a 25-month Step-Up CD (2.00% APY) that has no stated end date. The minimum deposit is $100, with no balance cap. (An earlier promotional version of the 25-month Step-Up CD did have a $5k balance cap, but according to CSR, that restriction has been removed.) The Step-Up provision allows for one rate increase during the term of the CD.
|0.80%||$100||-||APG Federal Credit Union (APGFCU)||25 Month Step-Up CD|
|0.80%||$100||-||APG Federal Credit Union (APGFCU)||25 Month Step-Up IRA (Traditional, Roth, CESA, SEP)|
The 25-month Step-Up CD is available as an IRA (Traditional, Roth, CESA, and SEP) earning the same APY, with the same funding requirements.
According to CSR, the Early Withdrawal Penalty (EWP) for CDs with terms of 17 months or less is 90 days interest; CDs with terms of 18 months or greater will incur an EWP of 180 days interest.
Headquartered in Edgewood, Maryland, Aberdeen Proving Ground Federal Credit Union offers membership primarily based on residency. Individuals who live, work, worship, attend school, or volunteer in Cecil or Harford Counties, or certain areas of Middle River (based on census tracts) eligible for membership.
Immediate family members and household members of a current member or a credit-union-eligible individual qualify for membership.
Joining APGFCU and/or opening a CD can be done online, or at any of eleven Maryland branches located in Aberdeen, Aberdeen Proving Ground, Bel Air (3), Edgewood, Elkton (2), Fallston, Forest Hill, and Havre de Grace.
Credit Union Overview
Aberdeen Proving Ground Federal Credit Union (NCUA Charter # 2540) has an overall health grade of "B+" at DepositAccounts.com, with a Texas ratio of 8.77% (excellent) based on December 31, 2015 data. In the past year, APGFCU has increased its total deposits by $47.21 Million, an excellent annual growth rate of 5.15%. Please refer to our financial overview of Aberdeen Proving Ground Federal Credit Union for more details.
Aberdeen Proving Ground Federal Credit Union was established in 1938 by a small group of Aberdeen Proving Ground (APG) employees. (APG is the U.S. Army's oldest active proving ground, established on October 20, 1917, six months after the U.S. entered World War I.) The Credit Union’s first "home" was a single cash drawer in a small APG office. Through a charter change and subsequent field of membership expansion, APGFCU has grown to be Maryland’s 6th largest credit union, with more than 115,400 members and assets in excess of $1 Billion. APGFCU also has the distinction of being one of the few credit unions that has an indoor arena bearing its name: APG Federal Credit Union Arena at Harford Community College in Bel Air, Maryland.
How the CDs Compare
When compared to the 160 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available to Maryland residents, Aberdeen Proving Ground Federal Credit Union’s 15-month CD currently ranks second.
When compared to the 194 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available to Maryland residents, Aberdeen Proving Ground Federal Credit Union’s 25-month Step-Up CD currently ranks first.
The above rates are accurate as of 3/25/2016.