Good news - 4.00% APY
While this great rate is limited to a small section of the country, a CD offering 4.00% APY deserves to be recognized. In addition to the 9-month Share Certificate Special, Advantage Plus Federal Credit Union (Advantage Plus FCU) is currently offering a 19-month Share Certificate Special earning 3.00% APY. The minimum opening deposit for either the 9- and 19-month is $500, with no stated balance cap.
When I first saw these rates, I thought there must be some type of limitation. CSR stated “there are no strings attached. No balance cap, no checking requirement … just a good rate on a Share Certification Special.”
According to CSR, the Early Withdrawal Penalty (EWP) for any Advantage Plus FCU Share Certificate is “either one year's interest or $50, whichever is greater.” In the case of the 9-month Certificate, the EWP would be the greater of all interest earned or $50.
Many thanks to DA reader, Carpline, for his Forum post about the 4% Share Certificate Special.
60-month Share Certificate
Even though the 60-month Share Certificate isn’t a “Special,” it’s offering a rather special 3.25% APY and can be opened with a $500 minimum deposit. The 60-month is one of the few CDs I’ve seen that has had a rate increase in the last couple of months. In December, the APY increased from 2.25% to 3.00%, and earlier this week, another 25 bps were added.
|2.25%||$1k||-||Advantage Plus Federal Credit Union||60 Month Share Certificate|
The 60-month Share Certificate is also available as an IRA (Traditional, Roth, CESA), earning the same APY with the same funding requirements.
Headquartered in Pocatello, Idaho, Advantage Plus Federal Credit Union’s field of membership (FOM) is residency-based, with individuals who live, work, worship, or attend school in the Idaho counties of Bannock, Bear Lake, Caribou, Franklin, or Power, or Lincoln County in Wyoming, eligible for membership.
Joining Advantage Plus FCU and/or opening a Share Certificate can be done online, or at any of seven Idaho branches located in American Falls, Chubbuck, Montpelier, Pocatello (2), Preston, and Soda Springs. Advantage Plus FCU also has a Wyoming branch, located on S. Washington Street in Afton.
$100 minimum initial deposit is required for online applications. If you are not a current member of Advantage Plus Federal Credit Union, $5.00 of the initial funding amount will be used to open a Regular Share Savings account and $5.00 will be used for a one-time membership fee which are also requirements for membership.
Advantage Plus FCU participates in the CO-OP Shared Branch Network, giving its members access to nearly 30,000 ATMS and more than 5,000 shared branches across the country.
Credit Union Overview
Advantage Plus Federal Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 12.45% (above average) based on March 31, 2019 data. In the past year, Advantage Plus FCU increased its total non-brokered deposits by $3.53 million, an above average annual growth rate of 2.82%. Please refer to our financial overview of Advantage Plus Federal Credit Union (NCUA Charter # 8428) for more details.
Advantage Plus Federal Credit Union was founded in 1953 as the Pocatello Westvaco Employees Federal Credit Union. The original FOM included the employees of Pocatello Westvaco, the world’s largest elemental phosphorus producing facility. Between 1958 and 2002, the Credit Union experienced one merger, two name changes, and six FOM expansions. Advantage Plus FCU is currently the 13th largest credit in Idaho, with more than 17,000 members and assets in excess of $144 million.
How the Share Certificates Compare
When compared to 208 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar deposit and available within the FOM, Advantage Plus Federal Credit Union's 9-month Share Certificate Special APY doesn’t have much competition.
When compared to 170 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar deposit and available nationwide, Advantage Plus Federal Credit Union's 19-month Share Certificate Special APY currently shares the top spot with AgFed Credit Union’s 18-month Certificate APY.
When compared to 192 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar deposit and available nationwide, Advantage Plus Federal Credit Union's 60-month Share Certificate Special APY currently ranks first.
The above rates are accurate as of 8/31/2019.
To look for the best CD rates, both nationwide and state specific, please refer to our CD rates table.