Special 46-Month CD at Fort Knox FCU - Beware of Its History


If you haven't been turned off by what Fort Knox Federal Credit Union did in 2011, you may want to consider its current CD special. It just came out with a special 46-month CD with a 2.05% APY. There’s also a special 14-month CD with a 1.00% APY. Minimum deposit is $500. These rates are listed in the credit union's Term Share Certificate Rates page as of 2/21/2014.

The small print at the bottom of the credit union’s rates page describes the early withdrawal penalty:

If all or part of the principal is withdrawn before the maturity date, the Credit Union may charge a penalty. Withdrawal of the principal amount of the Certificate may be made only with the consent of the Credit Union. Unless stated otherwise, the owner shall forfeit an amount equal to 180 days dividends whether earned or not on certificates with maturities greater than 24 months. The penalty on certificates with maturities less than 24 months is 90 days dividends whether earned or not. The penalty may be calculated at the rate paid on the deposit. The penalty will, if necessary, be taken from the principal amount of the deposit.

Note, the small print includes language that gives the credit union the right to refuse an early withdrawal request.

Beware of Fort Knox FCU’s History

Fort Knox FCU is well known here as the credit union which raised the early withdrawal penalty on members' existing certificates. A member filed a complaint with the NCUA over this issue, but the NCUA ruled in favor of Fort Knox FCU's right to increase the EWP based on generic clauses in the membership agreement. I have the details in this post.

I know some readers might prefer that I not give Fort Knox FCU any publicity. I think it’s better to give all the facts including its history. If I don’t report on these CDs, people will get information about these CDs from other websites which won’t provide any of the credit union’s history.

Membership Eligibility

According to the credit union's membership eligibility page:

If you do not meet any of these eligibility criteria, you may qualify for membership by joining the American Consumer Council --it's free! Call your local branch for more details.

There's a "Become a member" link on this page which takes you to an online application. In the online application where you select how you're eligible to join, it states:

If you can't find an eligibility requirement to match your situation, you can still join the credit union. Just select the "I'm eligible for membership through" drop down to the left and choose the "other" option.

Membership requires a one-time $10 fee and a minimum $5 balance in your share account.

Credit Union Overview

Fort Knox Federal Credit Union branches are located in several cities in Kentucky including Fort Knox, Radcliff, Elizabethtown and Campbellsville. The credit union belongs to the shared credit union network that allows you to perform several banking transactions at shared branches across the nation.

The credit union has an overall health grade at DepositAccounts.com of an A+ with a Texas Ratio of 1.68% (excellent) based on September 2013 data. Please refer to our financial overview of Fort Knox FCU for more details. The credit union is federally insured by the NCUA (Charter # 7000).

How This CD Rate Compares

If you don't want to do business with Fort Knox FCU, there’s another option that has a rate and term close to this special CD. NASA Federal Credit Union has a special 49-month CD with a 2.00% APY. This is another all-access credit union that makes it easy for people in any state to join. I have more details about this CD special and NASA Federal in this blog post.

The highest 48-month CD rate at an internet bank is 1.80% APY. That’s being offered by GE Capital Retail Bank for a $100K minimum deposit.

Navy Federal has a Jumbo 48-month CD with a yield of 2.05%. However, Navy Federal membership has limitations.

The above rates are accurate as of 2/21/2014.

Searching for the Best CD Rates

To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of DepositAccounts.com.

Related Pages: CD rates

  |     |   Comment #1
I have (2) 5 year cd with fort knox @ 3.00% (not sorry) still got 2 more years to ago...all I can say is when you put anything into cd, just make sure you don't need it till maturity.
  |     |   Comment #7
I have these too and knew, going in, that it was highly unlikely I would need the funds before maturity. Having said that, it was nevertheless disappointing that they changed the EWP retroactively.
  |     |   Comment #2
Even if I didn't need the money before maturity, this credit union can go to h*ll. For 2% I would rather eat sh*t than buy a CD from them.
  |     |   Comment #3
Amen Lou!

  |     |   Comment #4
You have spoken for every sane person who reads Ken's website.

OMG are you ever right!!!!!!!!!!

The number of them is vanishingly small.  But there are a few financial institutions away from which it is best to RUN, not walk.  And on any such list, this fetid outfit in first place.  Run away, folks;  do so screaming!

FKFCU is worst of the worst, untrustworthy and unreliable.  It's impossible to know what they're gonna do next!
  |     |   Comment #6
"You have spoken for every sane person who reads Ken's website."

WRONG!  I am definitely "sane" and I speak for myself.  Unlike a childish person throwing a temper tantrum .
  |     |   Comment #14
Folks, observe carefully this comment #6.  Anyone doubting existence of the Stockholm syndrome need doubt no longer.  Now you have proof!!! 
  |     |   Comment #12
Appears Fort Knox operates a lot like Bank Of America.  I guess Fort Knox will be added to my list to always avoid regardless of their cd rate offers.
  |     |   Comment #5
I fully agree.  I would not touch fort knox with a ten foot pole!
  |     |   Comment #8
Because FK CU (the letters mean something?) retroactive CD  change shenanigans, they will forever have to pay above-market rates to sell new CDs.

They have said they can change ANYTHING in their CDs after you buy them --so they can change your interest rate too and the federal NCUA  agrees with them!
  |     |   Comment #9
Are these CDs a good enough deal (interest rate-wise) to justify buying them? 
  |     |   Comment #15
No interest rate is sufficiently high to justify doing business with unadulterated slime.  Consider:

Their word is not good.  Their promises cannot be relied upon.  They are demonstrated and proven cheaters.  It is literally impossible to know what stunt they will pull next.  Only thing certain is it will cost you money.

Invest at FKFCU or take a Vegas trip.  It's the same thing!!  FKFCU potentates deserve to be jailed, not favored with our investments.  Calling them skunks is offensive to skunks everywhere!!
  |     |   Comment #16
Sounds like I should stay away from these CDs?
  |     |   Comment #10
click on the cd rate tab at top of page to see
  |     |   Comment #11
Seems that they may be.  What do you think?
  |     |   Comment #13
Try just "F.U."
I know MY money is now elsewhere -- as everyone else's should be.
End of story.
Special CD Rates at Fort Knox Federal Credit Union

If you haven't been turned off by what Fort Knox Federal Credit Union did in 2011, you may want to consider its current CD specials. The two best deals are a 1.40% APY 23-month CD and a 1.20% APY 14-month CD. There’s also a 0.75% APY 9-month CD special. Minimum deposit is $500. These rates are listed in the credit union's Term Share Certificate Rates page as of 8/6/2013. Thanks to DA member Pearlbrown for reporting on this in the DA forum.

The last time I reported on Fort Knox...

Continue Reading
Competitive CD Specials at Fort Knox FCU - Limited to KY, TN & IN

If you haven't been turned off by what Fort Knox Federal Credit Union did in 2011, you may want to consider its current CD specials. These include a 1.50% APY 23-month CD, a 1.20% APY 14-month CD and a 1.00% APY 6-month CD. Minimum deposit is $500. These rates are listed in the credit union's Term Share Certificate Rates page as of 12/28/2012.

Even though Fort Knox FCU makes it easy for anyone in the nation to join, not everyone can qualify for these special CDs. Only long-time members or residents...

Continue Reading
Top 59-Month CD Rate at Fort Knox Federal Credit Union - Easy Membership

Fort Knox Federal Credit Union recently increased its 59-month CD rate from 2.00% to 2.25% APY which makes it the highest rate for a nationally available 5-year CD. The shorter term CDs are much less competitive. Minimum deposit is $500. This rate is listed on the credit union rates page as of 7/2/2012. Thanks to the reader who mentioned this change in the comments.

The early withdrawal penalty for the 59-month certificate is equal to 365 days of interest. This is specified in the small print below the rate table.

Continue Reading
Highest 5-Year CD Rate in the Nation at Fort Knox Federal Credit Union

Fort Knox Federal Credit Union just increased its 5-year CD rate from 2.65% to 3.05% APY which makes it the highest rate for a nationally available 5-year CD. All other of Fort Knox FCU CD rates remained the same, and many are still competitive including a 2.15% APY for a 3-year CD and a 1.60% APY for a 2-year CD. Minimum deposit is $500. These rates are listed on the credit union rates page as of 6/17/2011.

One thing that hurts this deal is how this credit union claims it can...

Continue Reading
Credit Union Increases Early Withdrawal Penalty on Existing CDs

In my post on the details of CD early withdrawal penalties, readers commented that Fort Knox Federal Credit Union had changed their early withdrawal penalty, and this change applied to existing CDs. Since there were some conflicting reports in the comments, I asked the VP of marketing at Fort Knox FCU if this new early withdrawal penalty applies to all CDs, even ones that were already opened before the early withdrawal penalty change. The reply wasn't 100% clear, but it supports what readers said in the comments that the change...

Continue Reading

More Past Offers

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.