Earlier this month, APG Federal Credit Union (APGFCU) announced a limited-time 3.00% APY on its 24-month CD. The minimum opening deposit is a low $100, and there is no stated balance cap.
|3.00%||$100||-||APG Federal Credit Union (APGFCU)||24 Month CD|
|3.00%||$100||-||APG Federal Credit Union (APGFCU)||24 Month IRA (Traditional, Roth, CESA, SEP)|
The 24-month CD is also offered as an IRA (Traditional, Roth, CESA, SEP), earning the same 3.00% APY with the same funding requirements.
DA has been tracking the 24-month CD since 2011. For most of the past eight years, the 24-month CD has been decidedly uncompetitive, with APYs below 1.00% until March 2018. The 3.00% APY is not only an all-time high rate for the 24-month CD, it’s the highest rate currently offered on any APGFCU CD.
According to CSR, the Early Withdrawal Penalty for CDs with terms of 18 months or more is 180 days' interest.
Thanks to the DA reader, Marcal, for the Forum post about the new 24-month CD rate.
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 current a APGFCU member or a membership-eligible individual also qualify for membership.
Joining APGFCU and/or opening a CD can be done online, or at any of 14 Maryland branches located in Aberdeen, Aberdeen Proving Ground, 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.
A minimum $5 deposit is required to open a Regular Share Account, which establishes a APGFCU membership.
Credit Union Overview
APG Federal Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 6.72% (excellent) based on December 31, 2018 data. In the past year, APGFCU has increased its total non-brokered deposits by $112.52 million, an excellent annual growth rate of 10.24%. 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 be Maryland’s fifth largest credit union, with more than 130,000 members and assets in excess of $1.3 billion.
How the CD Compares
When compared to 253 similar length-of-term CDs tracked by DepositAccounts.com that require a minimum deposit of $01k or less and are available within the FOM, APG Federal Credit Union’s 24-month CD APY currently ranks second.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|3.20% APY||24-Month CD ($10k min)||CD Bank|
|3.00% APY||24-month CD ($100 min)||APG Federal Credit Union|
|2.98% APY||2-Year CD ($5k min)||State Bank of India|
The above rates are accurate as of 5/21/2019.
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD Rates Table page.