APG Federal Credit Union (APGFCU) started the week by introducing two CD Specials: 13-month (2.75% APY) and 23-month (3.00% APY). The minimum opening deposit is only $100, with no stated balance cap. New money is required to earn the stated APYs and is defined simply as “money not already on deposit on APGFCU."
According to CSR, the Early Withdrawal Penalty (EWP) for the 13-month CD Special is 90 days of interest, with 23-month CD Special incurring an EWP of 180 days of interest. Partial withdrawals are allowed, with the EWP applying to the amount being withdrawn.
Headquartered in Edgewood, Maryland, APG Federal Credit Union’s field of membership (FOM) is residency-based, with individuals who live, work, worship, attend school, or volunteer in Cecil or Harford Counties, or in certain areas of Middle River (based on census tracts) eligible for membership.
Immediate family members and household members of a current APGFCU member or a membership-eligible individual also qualify for membership.
Joining APGFCU can be done online, or at any of 14 Maryland branches located in Aberdeen, Aberdeen Proving Ground (restricted access), Bel Air (3), Belcamp, Chesapeake City, Edgewood, Elkton (2), Fallston, Forest Hill, Havre de Grace, and North East. (Yes, the town’s full name is really North East.)
Once you have submitted an online membership application, please allow approximately 48 hours for completion of the process. You will be notified via email, phone, or post mail once we have finalized your application.
According to CSR, opening a CD Special must be done in-branch at any of the above-mentioned locations. I asked if the CD Specials could be opened by phone, since the landing page reads,
To open a special certificate please call 800.255.2555.
CSR replied, “No, they can only give you information.”
You must complete payment of $5.00 in your Regular Share
account as a condition of admission to membership.
Credit Union Overview
APG Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.74% (excellent) based on March 31, 2019 data. In the past year, APGFCU has increased its total non-brokered deposits by $108.54 million, an excellent annual growth rate of 9.48%. Please refer to our financial overview of APG Federal Credit Union (NCUA Charter # 2540) for more details.
Formerly known as the Aberdeen Proving Ground Federal Credit Union, APG 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 in October 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 FOM expansion, APGFCU has grown to become Maryland’s fifth largest credit union, with more than 132,000 members and assets in excess of $1.4 billion.
How the CD Specials Compare
When compared to 252 similar length-of-term CDs tracked by DepositAccounts.com that require a minimum deposit of $5k or less and are available within the FOM, APG Federal Credit Union’s 23-month CD Special APY currently ranks first.
When compared to 263 similar length-of-term CDs tracked by DepositAccounts.com that require a minimum deposit of $5k or less and are available within the FOM, APG Federal Credit Union’s 13-month CD Special APY currently ranks first.
The above rates are accurate as of 8/29/2019.
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD Rates Table page.