Adventure Credit Union (MI) Offers Add-On 12-Month CD

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Deal Summary: 12-month Win to Save CD, 1.00% APY, $25 minimum deposit, additional deposits throughout the term.

Availability: Residents of ten western Michigan counties; 500+ SEGs in West Michigan and Lansing areas.

The 12-month Save to Win CD (1.00% APY) offered by Adventure Credit Union (Adventure CU) is an add-on CD, which allows unlimited deposits (in any amount) throughout the term. The minimum opening deposit is $25, with no stated balance cap. There is a limit of one Save to Win CD per member

APYMINMAXINSTITUTIONPRODUCTDETAILS
0.55%$25-Adventure Credit Union12 Month Save to Win CD
Rates as of September 24, 2021.

The Save to Win CD is also known as a “prize-linked savings account that offers you the chance to win prizes in addition to earning regular interest.” Credit unions that offer these Save to Win CDs typically don’t offer such competitive interest rates. A lower rate helps the credit union pay for the prizes. In this case, Adventure CU may have not kept up with rate changes, and since there is no maximum balance, the Save to Win CD is now a great deal regardless of the prize feature.

For each $25 increase to the CD’s balance, one entry (up to 10 entries per month/30 entries per quarter/120 entries per annum) will be added into the savings raffle for cash prizes. As stated in the Save to Win Official Rules,

Credit Union Prize Drawings totaling $3600.00 dollars annually will be awarded to winning Participating Members as follows:

Four (4) winning entries will be randomly selected to receive a $25.00 cash prize each month.

Two (2) winning entries will be randomly selected to receive a $50.00 cash prize each month.

One (1) winning entry will be randomly selected to receive a $100.00 cash prize each month.

The Official Rules page also states,

A Participating Member may make a maximum of one (1) withdrawal from the Qualifying Certificate Account during any twelve (12) month period, with an early withdrawal penalty fee of $25. More than one (1) withdrawal within any twelve (12) month period will result in the disqualification of the Participating Member’s Qualifying Certificate Account from consideration for subsequent prizes, the forfeiture by Participating Member of all entries for prizes, and the closure of the Qualifying Certificate Account.

Edge Checking

Although the rewards checking account was renamed as Edge Checking following the 2016 Adventure rebrand, it still earns 4.0% APY on qualifying balances up to $10k. Qualifying balances of $10k+, as well as non-qualifying balances, do not earn any APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
4.00%-$10kAdventure Credit UnionEdge Checking
Rates as of September 24, 2021.

Qualifying Requirements

  • Have at least 20 debit card purchases
  • Have at least one Direct Deposit or ACH transaction (minimum $100)
  • Receive monthly e-Statements
  • Log in to Online or Mobile Banking at least once

Availability

Headquartered in Grand Rapids, Adventure Credit Union’s field of membership (FOM) is primarily residency-based, but there a variety of ways to qualify for membership.

Residency: Individuals who live, work, worship, or attend school in the Michigan counties of Allegan, Barry, Clinton, Eaton, Ingham, Kent, Livingston, Newaygo, Ottawa, and Shiawassee are eligible to join.

Employment: Employees of more than 500 employer groups, unions, and associations in the West Michigan and Lansing areas qualify for membership.

Relationship: Family members, by both blood and marriage, and household members of current Adventure CU members are also eligible to join.

Other: "Our charter also allows us to serve people with disabilities who reside in Michigan and businesses who provide disability related services."

Joining Adventure CU can be done online, or at any of seven Michigan branches located in Grand Rapids (4), Lansing (2), and Wyoming. The Downtown Grand Rapids branch is temporarily closed and the 32nd Street branch in Grand Rapids is open by appointment only; scheduling an appointment can be done online.

Although it is no longer required at most branches, we still appreciate it when members schedule appointments for in-person services.

While regular CDs can be opened online, the 12-month Save to Win CD must be done in person at any of the above-mentioned branch locations.

A minimum $5 deposit in an Adventure Savings account is required to establish an Adventure Credit Union membership.

Adventure CU participates in both the CO-OP Share Branch and ATM networks.

Visit over 5,000 convenient locations and more than 2,000 self-serve locations covering all 50 states - Simply have your credit union name, account number, and a government ID and you'll have access to your accounts.

Credit Union Overview

Adventure Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 1.61% (excellent) based on September 30, 2021 data. In the past year, Adventure CU has increased its total non-brokered deposits by $43.76 million, an excellent annual growth rate of 15.43%. Please refer to our financial overview of Adventure Credit Union (NCUA Charter # 60936) for more details.

Adventure Credit Union is currently Michigan’s 44th largest credit union, with more than 30,600 members and assets in excess of $397 million. Before the June 2016 “Adventure” rebrand, the Credit Union was known as Option 1 Credit Union, the result of the 2006 merger between Financial Health Credit Union (Lansing) and Bell Com Credit Union (Grand Rapids). For the last 16 years, the Credit Union has been involved in a unique program helping underserved people in Michigan. A Credit Union Times article from February 2007 provides the history of this distinctive venture.

Often credit unions go looking for underserved people in their fields of membership to serve. But sometimes the underserved come looking for help and it's up to the credit union to respond.

That is what happened at the $168 million Option 1 Credit Union (then Financial Health Credit Union) when a member affiliated with the Michigan Disability Rights Coalition approached the CU about help in administering some funds that the MDRC had been granted to offer assistive technology loans to people with disabilities.

The credit union accepted the challenge and began to administer the Michigan Assistive Technology Loan Fund, through a partnership with the MDRC and United Cerebral Palsy of Michigan. Over the last three years, the fund has made $1.4 million in loans to 239 individuals across the state so that they could buy the sorts of technological improvements to their homes or other tools needed to overcome their disabilities.

How the Save to Win CD Compares

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Adventure Credit Union's 12-month Save to Win CD APY currently ranks first.

The 12-month Save to Win CD APY is also higher than any of the rates currently offered on savings accounts.

The above rates are accurate as of 1/25/2021.

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

Related Pages: Lansing CD rates, Grand Rapids CD rates, 1-year CD rates

Comments
Cdbob
  |     |   Comment #1
I opened this on 12-30-20. The only problem with it that I have is when making subsequent additions to the CD Adventure holds the money in the share account for 10 days until the check clears. I asked if they could transfer the deposit into the CD and put a hold on the CD instead of the share account but they said no. No big deal but it amounts to lost interest. Especially if you are adding a substantial amount to the CD.
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Availability: Residents of 11 west Michigan counties; 500+ SEGs in West Michigan and Lansing areas.

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...

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