Achieva CU (FL) Raises Rates On Most IRAs

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Availability: Residents of Charlotte, Collier, DeSoto, Hernando, Hillsborough, Lee, Manatee, Pasco, Pinellas, and Sarasota Counties, Florida.

Florida-based Achieva Credit Union (Achieva) recently increased the rates on most of its IRAs (Traditional, Roth, CESA). Each IRA CD has three different APYs based on minimum deposit levels: $500, $25k, and $75k. The APYs are a uniform 10 basis points higher per deposit level.

There is fine print on the Rates page which is a bit vague:

Achieva members with an active Achieva Checking account or credit card
will receive a preferred rate increase in the APR of a new or renewing CD.

CSR explained that to be eligible for the higher Plus rates, an active Achieva checking account is needed. When I asked for a definition of "active", CSR stated, “One that's open and being used.” CSR further explained that there are no minimum balance requirements or minimum number of transactions required for an account to be considered “open and not dormant.” (Dormant is defined by Achieva as no activity for one year.)

As stated in Achieva’s Account Disclosures, the Early Withdrawal Penalty reads as follows:

If the term of the certificate is over one (1) year, the penalty will equal one hundred and eighty (180) days of interest calculated at the rate being paid on the Account.
(If the amount withdrawn or the penalty reduces the balance below the minimum balance requirement, then the Account must be closed).

Availability

Residency: Individuals who live or work in the Florida counties of Charlotte, Collier, DeSoto, Hernando, Hillsborough, Lee, Manatee, Pasco, Pinellas, or Sarasota are eligible for membership.

Relationship: Anyone related to a current Achieva member is also eligible for membership. Qualifying relationships include parents, children, spouse or surviving spouse, or any other relative by blood, marriage, or adoption.

Complete membership details can be found on Achieva’s Membership page.

Joining Achieva Credit Union can be done online, at any of 24 Florida branches located in Bradenton, Cape Coral (2), Clearwater, Dunedin, Estero, Land O Lakes, Largo, New Port Richey, North Port, Palm Harbor (2), Pinellas Park, Port Charlotte, Punta Gorda, Sarasota (3), St. Petersburg (3), Tampa, and Venice (2).

IRA Certificates can be opened at any branch location, by phone, or through Live Chat. In a Live Chat, CSR stated, “You are not able [to open IRAs] online, but I can assist you over the Chat. Or over the phone.”

Credit Union Overview

Achieva Credit Union (NCUA Charter # 60087) has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 6.14% (excellent) based on March 31, 2016 data. In the past year, Achieva increased its total deposits by $259.07 million, an excellent annual growth rate of 26.55%. Please refer to our financial overview of Achieva Federal Credit Union for more details.

Achieva Credit Union was founded in 1937 as the Pinellas County Teachers Credit Union, with seven charter members and $99.25 in total deposits. By 1958, assets reached $1 million and the first interest refund was paid to borrowers. A change to a Community Charter in 1985 began an expansion that currently includes ten Florida counties. The name was changed to Achieva Credit Union in 2004 and today serves over 137,300 members and holds assets in excess of $1.4 billion.

How the IRAs Compare

When compared to the similar length-of-term IRAs tracked by DepositAccounts.com that are available nationally, Achieva Credit Union's various IRA Plus ($75k min) APYs currently rank in the top two of every term category, regardless of minimum deposit.

2-Year IRAs

3-Year IRAs

4-Year IRAs

5-Year IRAs

The above rates are accurate as of 9/7/2016.

To look for the best IRA rates, both nationwide and state specific, please refer to our IRA rates table or our Rates Map page.

Comments
Achieva Credit Union (Easy Membership) Has Top Rate IRA CDs
Availability: Easy membership

Florida’s Achieva Credit Union (Achieva) has introduced two new CDs to its product line: 15-month CD (1.25% APY) and 30-month CD (1.75% APY). The minimum opening deposit for either CD is $1K, with no maximum balance cap.

Both CDs are available as IRAs (Traditional, Roth, and CESA) with the same funding, but with higher APYs (25 basis points). IRAs with a minimum $75K deposit earn APYs 45 basis points higher.

As stated in Achieva’s Account Disclosures, the Early Withdrawal Penalty reads...

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5.50% 9-Month CD at a Florida CU (Achieva)
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Last July I had reported on a 5.75% 15-month CD that Achieva was offering.

The credit union's field of membership includes anyone who lives or works in the Florida counties of Pinellas, Hernando, or Pasco. Branches are located in the cities of Clearwater, Kenneth City, Largo, Palm Harbor, Pinellas Park and St. Petersburg.

Achieva Credit Union is federally insured by the NCUA. Since my last report assets have grown by $40 million to $524 million, and...





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In March I had reported on a 5.50% 15-month CD that Achieva was offering.

The credit union's field of membership includes anyone lives or works in the Florida counties of Pinellas, Hernando, or Pasco. Branches are located in the cities of Clearwater, Kenneth City, Largo, Palm Harbor, Pinellas...



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The credit union's field of membership includes anyone lives or works in the Florida counties of Pinellas, Hernando, or Pasco. Branches are located in the cities of Clearwater, Kenneth City, Largo, Palm Harbor, Pinellas Park and St. Petersburg.

Achieva Credit Union is NCUA insured with over 58,000 members and over $486M in assets.



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