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.”
DA readers may remember AgFed’s most recent limited-time offer – the 16/16/16 Certificate Special, which earned 3.16% APY. That 16-month CD was added to the product line in mid-September and was gone in less than two weeks. When AgFed says “limited-time,” believe it.
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(A) All dividends for 180 days on the amount withdrawn, or
(B) All dividends on the amount withdrawn since the date of issuance or renewal.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.
Thanks to the DA reader, alan1, for his Forum post on AgFed and to the DA reader who emailed me about AgFed's newest hot deal.
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 2.80% (excellent) based on June 30, 2018 data. In the past year, AgFed has increased its total non-brokered deposits by $40.75 million, an excellent annual growth rate of 16.24%. 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-four years later, AgFed Credit Union has more than 25,200 members and assets in excess of $326 million.
How the Certificate Special Compares
When compared to 208 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 first.
The above rates are accurate as of 10/12/2018.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.