AgFed Credit Union (AgFed) has a history of offering limited-time competitive CD rates and/or CD Specials. The latest is an 18-month Certificate Special, promoted as helping members “reach new heights” with a
3.00% 2.20% APY. The minimum opening deposit is only $250 and there is no stated balance cap.
The 18-month Certificate Special is also available as an IRA, earning the same
3.00% 2.20% APY with the same funding requirements.
As stated in the Truth-in-Saving disclosure, 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(A) All dividends for 180 days on the amount withdrawn, or
(B) All dividends on the amount withdrawn since the date of issuance or renewal.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 18-month Certificate Special automatically renews.
I’d like to thank the DA reader who forwarded AgFed’s promotional email about the 18-month Certificate. Good rates are becoming harder and harder to find.
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/or opening a 18-month Certificate Special can be done online, by phone (202.579.2270), or at any of six full-service branches located in Washington, D.C. (3), Alexandria (VA), Beltsville and Riverdale (MD).
You will also be asked to make a $5 deposit into your savings account to establish your membership. That deposit is yours to withdraw should you decide to cancel your AgFed membership.
As a member of the CO-OP Share Branch and ATM Networks, AgFed provides its members with access to more than 5,000 shared branches and nearly 30,000 ATMs throughout the country.
You need convenient access to your accounts – we have a network of branches
and surcharge-free ATMs to ensure you can always access your money.
Credit Union Overview
AgFed Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.03% (excellent) based on March 31, 2019 data. In the past year, AgFed has increased its total non-brokered deposits by $14.38 million, an excellent annual growth rate of 4.96%. 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 25,500 members and assets in excess of $341 million.
How the Certificate Special Compares
When compared to 158 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationwide, AgFed Credit Union's 18-month Certificate Special APY currently ranks first.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|3.00% APY||18-Month Certificate Special||AgFed Credit Union|
|2.70% APY||17-Month Certificate Special||RiverLand Federal Credit Union|
|2.68% APY||15-Month CD Special||State Bank of India (IL)|
The above rates are accurate as of 8/30/2019.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.