AgFed Credit Union Adds 21-Month CD Special, 3.20% APY

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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.”

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    (A) All dividends for 180 days on the amount withdrawn, or
    (B) All dividends on the amount withdrawn since the date of issuance or renewal.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

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 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.

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

Comments


#1 - This comment has been removed for violating our comment policy.
Luvcd
Luvcd   |     |   Comment #3
Blade the real irony is why anyone would do business with an entity that does business with Equifax?
Blade
Blade   |     |   Comment #4
Howdy! I believe you're referencing my long post on the user forum related to trying to open a new AgFed account today and the troubles that followed. If you have a frozen Equifax report you'll not be able to open up an account with AgFed. Since that post, I created a one week temp thaw with Equifax and tried AgFed again. Failed yet again for the same "can't verify ID" issue. Most likely reason is the temp Equifax thaw can take anywhere from 15 minutes to 3 days to become active. I gave it 30 minutes so I betting mine will take 3 days! Will try again Monday. As for why deal with companies that demand access to Equifax reporting - I'm sitting on basically dead money right now in my bank account and their 3.2% for 21 month CD fits nicely into my current financial plans. I had planned on opening the exact same offer here in my home city this week but the offer ended two days prior to me walking into the bank to open it. They did not require Equifax and were my first choice. AgFed has now become my backup to replace them. I'll report the final outcome next week. On a lighter note, I was able to finally create and fund a new account with EBSB this week and take advantage of their 2.5% savings account so this week was not a total bust! I can park my dead money there next week if AgFed continues to deny me.
DOA
DOA   |     |   Comment #7
Do not be surprised if AgFed comes back later and says you need to thaw Experian. Then after that you find out that they come back and say you need to thaw Transunion. I had a similar experience with Achieva and got so disgusted that I refused to open an account. Since credit thaws are free now, I think maybe just thaw all three might be the safest bet for getting a new account setup more quickly.
Londonderry
Londonderry   |     |   Comment #9
Opened account with AgFed. Surprisingly easy--no uploading of docs, etc. Yes, they do pull Equifax. I asked.
Blade
Blade   |     |   Comment #10
Just responded - thanks!
Blade
Blade   |     |   Comment #28
**Update** With my Equifax report now temporarily "thawed" I attempted again to enroll online and create a savings account to fund their 21 month CD once active. Sadly, their system gave me the same "ID verify" decline. I tried one last time and removed my spouse as a joint account holder to see if that was an issue - declined. Sent an email to them stating I was now officially done trying to give them my money as I've done everything I can on my end and there should be zero reason to decline me. There is something wrong with their online enrollment screening process. Within an hour I received an email from the AgFed CEO apologizing for my issues and then received a call from the assistant to the VP offering to help me establish the new account personally. Both contacts were very professional and I appreciated them. I asked the person offering to help me what would be different this time since their system keeps declining me. He stated he would handle the opening as if I were in the branch and we could email PDF forms through a secure channel so I could sign all needed docs. It became clear during our conversation that their online enrollment system does indeed have a few shortcomings and may be declining applicants that it should be approving. I guess that's better than it accepting new fraudulent accounts.

So...they completed the enrollment forms for me based on the online info I'd already submitted multiple times and emailed them to me through a secure server. I signed them and emailed them back and a joint savings account was successfully opened for my wife and I today! I will wire funds over to them tomorrow and they will handle the transfer to the 21 month 3.2% CD for me when my funds arrive. Should I have had to jump through so many hoops and fail online enrollment 5 times - of course not! But...credit where credit is due - they handled my issue very professionally after I contacted them stating this had to be an issue on their end and my money was now heading elsewhere. If you're experiencing the same online enrollment issues you may want to consider emailing them in a similar fashion. Make sure you utilize both email addresses you see under their "contact" heading, as I did, which includes their board of directors. Good luck!
Hard Pull
Hard Pull   |     |   Comment #12
Doing hard pull for a CD it is outrageous, I will skip them.
SLC
SLC   |     |   Comment #13
Can i transfer Roth IRA money into the 21 month CD?
Mee
Mee   |     |   Comment #17
Do they do a hard pull credit for existing members? Thanks
111
111   |     |   Comment #19
I don't think so, because I "upgraded" from their 1.8% No-Penalty CD to their 2.4% No-Penalty CD about 3.5 months ago (by moving funds to an external bank, then back). There was no hard pull to me for that.
#23 - This comment has been removed for violating our comment policy.
Anon
Anon   |     |   Comment #27
Did anybody have to join The Friends Of National Zoo? If so did they ask during the initial application? Thanks
Blade
Blade   |     |   Comment #29
If you are not already an AgFed member you'll need to join the Zoo for $20 so be sure to include that amount in your initial deposit with them so they may take care of that for you during enrollment. Fairly typical credit union membership procedure.
anon
anon   |     |   Comment #30
Out of the eligibility requirements I chose to join the Zoo membership, my account was approved and opened but never charged my card for the fee, when I called CS a few times I was told everything went OK and you will hear back in a couple of business days
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