Advancial Raises CD Rates Across The Board

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Deal Summary: Jumbo Certificates, $50k minimum - 6-month (1.72% APY); 1-year (1.87% APY); 18-month (1.96% APY); 2-year (2.04% APY); 3-year (2.17% APY); 4-year (2.38% APY); 5-year (2.56% APY).

Availability: Residents of several Louisiana parishes; employees of many SEGs; easy membership requirement by joining Connex ($5 fee).

In late July, I wrote about Advancial’s across-the-board CD rates increases, which placed the APYs near or at the top of every length of term category. Since that time, Advancial’s CD rates have been a mixed bag: some up and some down. October brought another round of rate increases, which are reflective of the flattening yield curve trend we’ve been seeing. While the 6-month,1-year, and 18-month Jumbo Certificates have APYs 5-10 bps higher than seen in July, the longer term Jumbo Certificates actually have lower APYs ( between 6-14 bps).

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.56%$50k-Advancial5 Years Jumbo Certificates
2.38%$50k-Advancial4 Years Jumbo Certificates
2.17%$50k-Advancial3 Years Jumbo Certificates
2.04%$50k-Advancial2 Years Jumbo Certificates
1.96%$50k-Advancial18 Months Jumbo Certificates
1.87%$50k-Advancial1 Year Jumbo Certificates
1.72%$50k-Advancial6 Months Jumbo Certificates
Accounts mentioned in this post. Rates as of November 19, 2017.

All of Advancial’s Certificates have tiered APYs, based on minimum opening deposits: Certificates ($1k min), Junior Jumbo Certificates ($25k min), and Jumbo Certificates ($50k min). The APYs are tiered in increments of 10 bps.

Advancial’s Certificates are also offered as IRAs (Traditional, Roth, CESA), earning the same tiered APYs with the same funding requirements.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.56%$50k-Advancial5 Years Jumbo IRA (Traditional, Roth, CESA)
2.38%$50k-Advancial4 Years Jumbo IRA (Traditional, Roth, CESA)
2.17%$50k-Advancial3 Years Jumbo IRA (Traditional, Roth, CESA)
2.04%$50k-Advancial2 Years Jumbo IRA (Traditional, Roth, CESA)
1.96%$50k-Advancial18 Months Jumbo IRA (Traditional, Roth, CESA)
1.87%$50k-Advancial1 Year Jumbo IRA (Traditional, Roth, CESA)
1.72%$50k-Advancial6 Months Jumbo IRA (Traditional, Roth, CESA)
Accounts mentioned in this post. Rates as of November 19, 2017.

In a Live Chat, CSR stated,

The early withdrawal penalty for our One-Year, 18-Month, Two-Year, and Three-Year Savings Certificates is equal to 180 days dividends. For a Four-Year and Five-Years Savings Certificate, the early withdrawal penalty is equal to 365 days dividends.

Advancial also participates in Shared Branching through the CO-OP network, giving members access to more than 5,000 branches and nearly 30,000 surcharge-free ATMs nationwide.

Many thanks to DA reader, alan1, for his Forum post about Advancial’s recent rate increases.

Availability

Headquartered in Dallas, Texas, Advancial’s field of membership (FOM) is fairly wide, giving almost any U.S. citizen or resident alien a way to join.

Easy Membership: Joining Connex ($5 membership fee) qualifies for membership in Advancial. According to Connex’s website, membership with Connex provides “access to a professional, online interactive network of work associates and friends, company information and jobs, and other opportunities.”

Residency - Individuals who live, work, worship, or attend school in the Louisiana parishes of Acadia, Avoyelles, Evangeline, Iberia, Lafayette, St. Landry, St. Martin, and Vermillion are eligible to join.

Employment - Employees of hundreds SEGs also qualify for membership. Unfortunately, Advancial does not list any of the SEGs on their website. According to the Membership Eligibility page,

To learn if your company or association is an Advancial Select Employer Group,
please contact your local branch or our Member Service Center at 800.322.2709.

I’ve contacted Advancial several times in hopes of getting more information about the SEGs, but the CSRs have not been forthcoming. I do know that Advancial’s branch locations “are in energy producing areas, having started as ARCO’s credit union catering to the oil and gas industry,” and that many of the SEGs are oil and gas industry companies.

Joining Advancial can be done by downloading the Membership Application and returning the completed application by mail, fax, or email to the Member Service Center in Dallas. Advancial has 16 branches located in Alaska (2), Louisiana (2), New Jersey (1), Oklahoma (1), and Texas (10).

DA readers have had a variety of experiences with Advancial. For example, DA reader, Sylvia, wrote in a Forum post,

I do wonder about their servicing capabilities for online customers. Little is disclosed on their web site. You're directed to call or visit a branch for more info yet they seem unable to handle call volume (long wait, rep sounded rushed).

But DA reader, Striker, seemed to have a positive interaction.

After reading the membership requirements, I was surprised at how easy and quick it was to become a member and open the account.

Comments about your dealings with credit unions and banks are always welcomed at DA.

Credit Union Overview

Advancial has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 6.28% (excellent) based on June 30, 2017 data. In the past year, Advancial has increased its total non-brokered deposits by $85.33 million, an excellent annual growth rate of 7.7%. Please refer to our financial overview of Advancial (NCUA Charter # 2285) for more details.

Chartered in 1937, as the Atlantic Federal Credit Union, Advancial is the 12th largest credit union based in Texas, with more than 82,500 members and assets in excess of $1.4 billion. The original charter was issued by the Farm Credit Administration, an independent agency of the Executive Branch that was created in 1933. (If you’re wondering why a Texas-based credit union would have “Atlantic” in its name, the original FOM included employees of the Atlantic Richland Company, better known as ARCO.) In 2001, the Credit Union rebranded as Advancial to better reflect its diverse membership.

How the Certificates Compare

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available nationwide, all of Advancial's Jumbo Certificate APYs currently rank either first or second, regardless of minimum deposit.

The above rates are accurate as of 10/6/2017.

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

Related Pages: New York CD rates, Houston CD rates, Dallas CD rates, Lafayette CD rates, Oklahoma City CD rates, Anchorage CD rates, 1-year CD rates, 5-year CD rates, nationwide deals

Comments
LOYAL VET
LOYAL VET   |     |   Comment #1
MAYBE 1ST UNITED IS THE SIGN OF THE TIMES

THE FED IS RAISING RATES IN DECEMBER (THEY SAY) AND ALL RATES WILL RISE SLOWLY FOR CDs--1ST UNITED MUST HAVE NEEDED CAPITAL OR SHOW MEMBERSHIP GROWTH--ADVANCIAL'S OFFER FOR 60 MONTHS IS PRETTY GOOD

WE MIGHT SEE THE 3% BE THE NORMAL AFTER JANUARY

AND KEN WILL KEEP US INFORMED--SO IF WE MISS ONE OR DONT QUALIFY THEN WATCH KEN'S REPORTS AND THE NEXT ONE IS COMING
Advancial's Jumbo Certificates ($50k min) Offer Top Rates
Deal Summary: Jumbo Certificates, $50k minimum - 6-month (1.63% APY); 1-year (1.77% APY); 18-month (1.91% APY); 2-year (2.10% APY); 3-year (2.27% APY); 4-year (2.50% APY); 5-year (2.70% APY).

Availability: Residents of the Louisiana parishes of Acadia, Avoyelles, Evangeline, Iberia, Lafayette, St. Landry, St. Martin, and Vermillion; employees of many SEGs; easy membership requirement by joining Connex ($5 fee).

For some time, Dallas-based Advancial has had very competitive CD rates, but the question of who could join was never answered to my satisfaction. For example, more than a year...

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