Advancial Short-Term Jumbo Certificates Are Rate Leaders

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Deal Summary: Jumbo Certificates, $50k minimum – 6-month (1.69% APY), 1-year (1.78% APY), and 18-month (1.83% APY).

Availability: Easy membership requirement by joining Connex ($5 fee) More details in the Availability section below; residents of the Louisiana parishes of Acadia, Avoyelles, Evangeline, Iberia, Lafayette, St. Landry, St. Martin, and Vermillion; employees of many SEGs.

With so many rate drops in the past two weeks, the recent modest increases on Advancial’s short-term Jumbo Certificates has resulted in Advancial being the rate leader in the 6-month, 1-year, and 18-month categories in DA’s bi-weekly CD Rates Summary.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.06%$50k-Advancial18 Month Jumbo Certificate
1.01%$50k-Advancial1 Year Jumbo Certificate
0.98%$50k-Advancial6 Month Jumbo Certificate
Rates as of September 18, 2020.

Advancial’s long-term Certificates actually saw small rate decreases (5-8 bps) at the beginning of May, but the APYs stayed near the top of their respective term-length categories.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.29%$50k-Advancial5 Year Jumbo Certificate
1.19%$50k-Advancial4 Year Jumbo Certificate
1.14%$50k-Advancial3 Year Jumbo Certificate
1.09%$50k-Advancial2 Year Jumbo Certificate
Rates as of September 18, 2020.

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 corresponding APYs are tiered in increments of 10 bps.

According to CSR, the Early Withdrawal Penalties are as follows:

  • 90 days dividends for terms less than one year.
  • 180 days dividends for terms between one year and three years.
  • 365 days dividends for terms four years and greater.

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

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.29%$50k-Advancial5 Year Jumbo IRA (Traditional, Roth, CESA)
1.19%$50k-Advancial4 Year Jumbo IRA (Traditional, Roth, CESA)
1.14%$50k-Advancial3 Year Jumbo IRA (Traditional, Roth, CESA)
1.09%$50k-Advancial2 Year Jumbo IRA (Traditional, Roth, CESA)
1.06%$50k-Advancial18 Month Jumbo IRA (Traditional, Roth, CESA)
1.01%$50k-Advancial1 Year Jumbo IRA (Traditional, Roth, CESA)
0.88%$25k$50kAdvancial6 Month Junior Jumbo IRA (Traditional, Roth, CESA)
Rates as of September 18, 2020.

Funding and Accessing Maturing Funds

Certificates must be funded at the time of opening. CSR suggested the easiest (and fastest) way to fund a Certificate is through a transfer from an existing Advancial checking or savings account. (Advancial participates in the CO-OP Shared Branch network.) The other option would be to initiate a wire from an external financial institution.

Maturing funds can be distributed by check, wire ($15 fee), or transferred into an existing Advancial checking or savings account.

Beneficiaries

Unlimited beneficiaries can be named, with a Social Security number required for each beneficiary. According to CSR, beneficiaries can be listed on the online application, with no need for a separate form to be submitted. Percentages cannot be assigned; only equal shares are available.

Availability

Headquartered in Dallas, Texas, Advancial’s field of membership (FOM) has changed and membership in Connex no longer qualifies for Advancial membership. I asked CSR when this changed, she said she wasn’t sure. For what it’s worth, this FOM change happened sometime in the last four or five weeks.

One of my staff took a closer look at Advancial’s online application and started entering common words in the “I am an employee or member of an Advancial partner organization. Use the search field to find your employer or association” search field. When searching for "united," the United States Dog Agility Association (USDAA) popped up. According to USDAA’s website, anyone can join and there’s no cost to join. While this could possibly be a backdoor to joining, Advancial does have a history of changing the rules on association membership.

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.”

Advancial added an online New Member Application more than a year ago, but joining Connex requires a paper application. In a Live Chat, CSR stated,

This Select Association Group [Connex] is not available in our online application portal, but we can send the appropriate membership documentation to you via our secure email service if you wish.

Residency: Individuals who live, work, worship, or attend school in the Louisiana parishes of Acadia, Avoyelles, Evangeline, Iberia, Lafayette, St. Landry, St. Martin, or 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, although the Online Membership Application a search field “to find your employer or association.” 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.

Advancial’s website doesn't have much specific information about the SEGs, but its branch locations “are in energy producing areas, as Advancial started as ARCO’s credit union catering to the oil and gas industry.” CSR stated that many of the SEGs are oil and gas industry companies.

Family Relationship: Immediate family members and household members of individuals who qualify for membership through an SEG also qualify for membership. Immediate family is defined as spouse, significant other, parent, grandparent, brother, sister, grandchild, stepparent, stepchild, stepsibling, and adoptive relationships.

Joining Advancial and/or opening a Jumbo Certificate can be done online. The Membership Application is also available as a download and can be returned by mail. All of Advancial’s 13 full-service branch lobbies are temporarily closed for walk-in transactions, but drive-thru service is available at all branch locations.

Advancial membership is free and begins automatically when you open a savings account with a minimum deposit of just $5. You can also apply for a checking account with no minimum deposit.

Advancial participates in both the CO-OP Shared Branch and ATM networks, giving members access to more than 5,000 branches and nearly 30,000 surcharge-free ATMs nationwide.

Credit Union Overview

Advancial has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 7.41% (excellent) based on December 31, 2019 data. In the past year, Advancial has increased its total non-brokered deposits by $64.34 million, an excellent annual growth rate of 4.8%. 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 currently the 13th largest credit union based in Texas, with more than 93,600 members and assets in excess of $1.6 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 had “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 Jumbo Certificates Compare

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

The above rates are accurate as of 5/6/2020.

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

*We continue to diligently work to keep our rates up-to-date, but there have been just too many rate cuts for us to process quickly. For the time being, please be aware that the rates listed at DepositAccounts.com may not reflect the latest rates published by the banks and credit unions.

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

Comments
enelrad1123
  |     |   Comment #1
After reading several comments about Advancial not recognizing Connex membership, I called the credit union to verify their membership requirements. The CSR asked if I was interested in a loan or a deposit account. When I responded "CD", he said they are not accepting any new CD's at this time. I asked if, in the future, they are accepting CD's, would Connex membership be recognized and he said "possibly".
remmymo
  |     |   Comment #2
I join Connex and tried to join advancial and called advancial because I did not get the account and they said just joining Connex will not suffice
Ken Tumin
  |     |   Comment #5
Thanks for the info on Connex. It appears that Advancial’s field of membership has changed recently and membership in Connex no longer qualifies for Advancial membership. I've updated the post with this info, and I also added another association that may provide a way for membership.
Predatory Depositor
  |     |   Comment #6
What luck! I've been looking for an excuse to become a member of the United States Dog Agility Association for most of my life!
enelrad1123
  |     |   Comment #7
I appreciate you amending your post, Ken and including another association that may provide a way for membership, but I was told they are no longer accepting CD's. If they are not accepting CD's, membership is a moot point. Could you please investigate and verify that they are refusing Cd's at this time? Thanks for all the valuable information you provide to your DA fans!
Earl
  |     |   Comment #3
**** poor advice Ken!
Big Blue
  |     |   Comment #4
Most egregious despicable!
Predatory Depositor
  |     |   Comment #8
The discussion here calls attention to yet another ridiculous regulatory situation in the banking industry.

The reason credit unions have a restricted field of membership is because they are not for profit organizations and don't pay certain taxes. So in order to satisfy banks, which do have to pay taxes, and prevent unfair competition, credit unions have certain restrictions like a field of membership.

It's yet another convoluted government solution that benefits no one except bureaucrats.

How about this...let's eliminate taxes on ALL financial institutions so there can be a free-for-all of competition on an even playing field and the consumer will be the beneficiary? You want the highest deposit rates? Let them fight over your money. You want the lowest loan rates? Let them fight over your business.

And by the way, how about eliminating all corporate taxes at the same time so businesses don't have to charge you more for their products in order to pay the taxes and companies don't have to flee the country to operate in China?
blazer9
  |     |   Comment #12
Even playing field? Never in history,has been or will be.
Anon456
  |     |   Comment #14
Be careful when you fund it. I pick the 18 month from the drop down, and it gave me the wrong interest. Does not show it to you .... you have to hunt for it. GOT CS to fix it - - but make sure you check.
Anon456
  |     |   Comment #15
ALSO - was able to make use of the CD special at the last minute. They MUST have funds on hand before they will open, and ACH (ALLY BANK) would not happen fast enough. Plus, there is the question of hold times. GOT AROUND this by going to shared branch with an ALLY BANK CHECK, and put into my share account. Then went home and electronically was able to open and fund the CD from that share deposit. See above about the wrong rating getting posted.
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Availability: Easy membership requirement by joining Connex ($5 fee); residents of the Louisiana parishes of Acadia, Avoyelles, Evangeline, Iberia, Lafayette, St. Landry, St. Martin, and Vermillion; employees of many SEGs.

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

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