AgFed Credit Union Brings Back 21-month CD Special, 2.90% APY

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Deal Summary: 21-month Certificate Special, 2.90% APY, $1k min/$150k max deposit, new money.

Availability: Easy membership requirement.

In October, AgFed Credit Union (AgFed) introduced a limited-time 21-month Certificate Special (3.20% APY). It was definitely a limited-time offer: it was available for one week. AgFed has brought the 21-month Certificate Special back as another limited-time offering, but at a lower rate of 2.90% APY. New money (defined as “funds not held in existing AgFed accounts”) is required, with a minimum opening deposit of $1k. Unlike the previous offering, this 21-month Certificate Special is capped at $150k. There is also a limit of one certificate per member.

I’d like to thank the DA reader who let me know about the return of the 21-month Certificate Special. As he stated in his email, “This isn’t a killer deal, but AgFed has really good customer service.” In addition, AgFed has a long history of competitive CD rates and CD specials. When I first saw this offering, I didn’t think the APY was high enough to be “blog-worthy,” but with CD rate cuts happening, 2.90% is within reach of the rate leaders.

As stated on the Share Certificates page, the Early Withdrawal Penalty reads as follows:

If the qualifying period is greater than 11 months but less than 60 months, the member shall forfeit an amount equal to the lesser of:

    (A) All dividends for 180 days on the amount withdrawn, or
    (B) All dividends on the amount withdrawn since the date of issuance or renewal.

There is a ten day grace period before the 21-month Certificate Special automatically renews as an 18-month Certificate.

Availability

Headquartered in Washington, D.C., AgFed Credit Union’s field of membership (FOM) is wide and varied, allowing almost anyone in the U.S. with a valid Social Security number to join.

Easy Membership: Members of The Friends of the National Zoo or The Friends of the National Arboretum (one-time $20 donation) are eligible for membership. Joining either association and applying for AgFed membership can be done simultaneously, using the Credit Union’s online application.

Residency: Individuals who live, work, worship, or attend school in the District of Columbia also qualify for membership.

Employment/Affiliation: Any current or retired employee or member of more than 60 Select Employee Groups and organizations are eligible to join.

Family Relationship: Any person related by blood, adoption, or marriage to a current member (except relatives of members who have been expelled from the Credit Union) are welcome to apply.

Joining AgFed and opening a 21-month Certificate Special can be done online, by phone (800.368.3552), or at any of seven full-service branches located in Washington, D.C. (3), Alexandria (VA), Beltsville (2) and Riverdale (MD).

Credit Union Overview

AgFed Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 5.65% (excellent) based on December 31, 2018 data. In the past year, AgFed has increased its total non-brokered deposits by $5.13 million, an above average annual growth rate of 1.76%. Please refer to our financial overview of AgFed Credit Union (NCUA Charter # 16400) for more details.

Originally established in 1934 as the Agriculture Federal Credit Union by United States Department of Agriculture, the Credit Union had a membership of 20 people and assets of $59.75 within a month of opening its doors. Eighty-five years later, AgFed Credit Union has more than 25,000 members and assets in excess of $331 million.

How the Certificate Special Compares

When compared to 189 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationwide, AgFed Credit Union's 21-month Certificate Special APY currently ranks seventh.

The above rates are accurate as of 4/3/2019.

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

Related Pages: Washington CD rates, 5-year CD rates, nationwide deals

Comments
QED
QED   |     |   Comment #1
I'm an AgFed veteran and have loved their NPCD offerings over the years. But clearly this is not a no-penalty deal. Really have no cause to commit any of my dry powder to this thing. FDIC or NCUA insured dry powder right now can easily earn 2.6% locked in by PurePoint, and I'm getting 2.75% locked in by Grow. The skimpy rate difference at AgFed for funds they require ME to lock in does not justify a jump.

Now course if this were a NPCD it would force me to rearrange everything!  But, again, it is not.

Oh BTW I just checked and, against all odds, that PurePoint gift horse continues this morning to be available.  That horse has got more lives than a cat!!   :-) 
Me
Me   |     |   Comment #2
Do you have a link to the PurePoint deal? Thank you.
Me
Me   |     |   Comment #3
Sorry I found it on their site. Can you tell me if you are required to take out the entire balance to avoid penalty, or whether you can take out only partial balance.

I don't think it's for me since I already have a 2.75% no penalty deal from a local CU that's good for about another 14 months. you can take out any amount at any time with no penalty.

But I'm still curious about the PurePoint deal.
Svensk
Svensk   |     |   Comment #8
You have to withdraw the entire balance
Me
Me   |     |   Comment #5
Thank you QED. It appears that in order to avoid the penalty you have to take out the full balance. That's the same way that the Ally 11 mo. no-penalty CD works.

I was fortunate to get a good deal at a local CU with a restrictive field of membership. 2.75%, 18mo. no balance cap, take out any amount at any time with no penalty. I went big on that one, although with rates currently falling, that will diminish some of the value. Still it remains a very good deal.
111
111   |     |   Comment #6
Yeah, I got an email from AgFed a day or two ago about this - I imagine other current customers did also. The rate environment has gone down, but not enough for me to bite on this.

Last July I "upgraded" my AgFed No-Penalty CDs from 1.8% to 2.4% , and I thought by now I'd have done another upgrade, but no go - they've had none available since then. Probably I should move these to PurePoint at 2.6%, but on the other hand the AgFed 2.4% ones don't mature until Jan. 2021. Right now I'm still hunting for mid- to long-term add-on CDs, "just in case".
Att
Att   |     |   Comment #7
I have the add on with MACU 3.51% for 5 years. Found out today that max ACH TO a MACU account is 25K per a day or 35K per week. FYI
Svensk
Svensk   |     |   Comment #9
Grow 2.75% with free checks, Orion 4% with free checks East Boston Savings 2.5% Northern Bank Direct with free checks 2.5% Purepoint 2.6% All America/Redneck 2.5%
Lots of great deals out there Community Financial Services Bank (KY) 3.39% 49 mo CD with two bump ups nationwide availability
willy12
willy12   |     |   Comment #10
Thanks for reminding me about the Orion. I need had forgotten I wanted to try their maze....if I recall it was not quite as easy as many.

Don't recall Grow. Is it a RCA or limited?
AgFed Credit Union Adds 21-Month CD Special
UPDATE 10/19/2018: No longer available.

Deal Summary: 21-month Certificate Special, 3.20% APY, $1k minimum deposit, new money.

Availability: Easy membership requirement.

AgFed Credit Union (AgFed) has added a new 21-month Certificate Special (3.20% APY). This limited-time offer requires a $1k minimum opening deposit of new money, which is defined as “funds not held in existing AgFed accounts.”

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Availability: Easy membership requirement.

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Availability: Easy membership requirement.

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Availability: Easy membership requirement.

In March 2017, AgFed Credit Union (AgFed) brought back its 30-month No Penalty Certificate for a limited time. AgFed is again offering the No Penalty Certificate (1.85% APY), with a rate 30 bps higher than the March offering. As before, this is a limited-time offer that requires new money. The...

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Deal Summary: 30-month CD, 1.55% APY, Allows one penalty-free withdrawal

Availability: Easy membership requirement.

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