Advancial Jumbo CDs Are Rate Leaders

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UPDATE 2/1/2020: Rates have fallen.

Deal Summary: Jumbo Certificates, $50k minimum – 5-year (2.83% APY), 4-year (2.68% APY), and 3-year (2.57% APY).

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.

Two years ago, Texas-based Advancial was a prolific producer of competitive CDs. In a 14-month period starting in October 2017, I wrote five blog posts about a variety of rate-leading CDs. My last blog post in December 2018 focused on Advancial’s very competitive short-term Jumbo Certificates. Advancial’s rates started falling in early 2019, with the short-term Certificates losing their competitive edge. The long-term Jumbo Certificates fared better with a rate resurgence beginning last fall, and are now at-or-near the top of their respective categories in DA’s bi-weekly CD Rates Summary. Advancial typically updates their rates at the start of the month. It'll be interesting to see if they remain rate leaders in February.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.21%$50k-Advancial5 Year Jumbo Certificate
2.10%$50k-Advancial4 Year Jumbo Certificate
2.04%$50k-Advancial3 Year Jumbo Certificate
Rates as of March 27, 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.

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

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.21%$50k-Advancial5 Year Jumbo IRA (Traditional, Roth, CESA)
2.10%$50k-Advancial4 Year Jumbo IRA (Traditional, Roth, CESA)
2.04%$50k-Advancial3 Year Jumbo IRA (Traditional, Roth, CESA)
Rates as of March 27, 2020.

In a previous Live Chat, CSR stated,

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

In past blog posts, I used Advancial’s flattening yield curve to illustrate the general trend for CD rates. In December 2017, there was a difference of 66 bps between the 1-year and 5-year APYs; that difference narrowed to 34 bps in December 2018. Ironically, while the current yield curve for Advancial CDs has improved to 83 bps, all-around rates have dropped.

Availability

Headquartered in Dallas, Texas, Advancial’s field of membership (FOM) includes a way for almost any U.S. citizen or permanent resident alien 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.”

Advancial has 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.

The “appropriate membership documentation” includes a PDF of both Advancial’s membership application and the Connex application. A New Account Funding Authorization is also included, listing the following options for initial funding:

  • Credit or Debit Card
  • Funds Transfer from Another Advancial Account
  • Check
  • Cash

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 is light on information about the SEGs, but its branch locations “are in energy producing areas, having 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.

According to the Membership Eligibility page, the membership application is also available as a download, but the link leads to a 404 Error page. I found the download by using the search option on Advancial’s website. A completed application can be returned by mail or in-person to any of 13 full-service branches located in Alaska (2), Louisiana (2), Oklahoma (1), and Texas (5 in Dallas area and 3 in Houston area).

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 Shared Branching through the CO-OP network, 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 "A" at DepositAccounts.com, with a Texas Ratio of 5.26% (excellent) based on September 30, 2019 data. In the past year, Advancial has increased its total non-brokered deposits by $96.86 million, an excellent annual growth rate of 7.36%. 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 93,000 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 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 Jumbo Certificates Compare

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available nationwide and have a minimum deposit of $50k or less, Advancial's longer-term Jumbo Certificate APYs currently rank either first or second.

The above rates are accurate as of 1/29/2020.

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

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

Comments
mountain52
  |     |   Comment #1
Web page currently states (2/1/2020) that the Jumbo 5 year CD is 2.55%
alan1
  |     |   Comment #2
As of Feb. 1, 2020, the 3-year Jumbo APY is down to 2.36%; the 4-year Jumbo APY is down to 2.43%. As stated in Comment #1, the 5-year Jumbo CD APY is down to 2.55%.
https://www.advancial.org/current-market-interest-rate/
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