Air Force FCU Has Competitive Nationwide 1- and 2-year CDs

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Deal Summary: 1-year (2.30% APY) and 2-year (2.55% APY) Share Certificates, $1k minimum deposit. 7-year (3.20% APY) Share Certificate, $2.5k minimum deposit.

Availability: Easy membership through the Airman Heritage Foundation; employees (military and civilian) of Department of Defense in Arkansas, Louisiana, Mississippi, Oklahoma, and Texas; honorably discharged veterans.

Over the weekend, Air Force Federal Credit Union (AFFCU) raised the rates on all of its Share Certificates, with the 1-year (2.30% APY) and 2-year (2.55% APY) the most competitive. The minimum opening deposit for the 1-, 2- and 3-year Share Certificates is $1k, while the 5- and 7- year require a minimum $2.5k.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.35*%$100k-AFFCU7 Year CD
OTHER TIERS: 2.20% → $2.5k - $12.5k | 2.25% → $12.5k - $25k | 2.30% → $25k - $100k
2.30*%$100k-AFFCU2 Year CD
OTHER TIERS: 2.10% → $1k - $2.5k | 2.15% → $2.5k - $12.5k | 2.20% → $12.5k - $25k | 2.25% → $25k - $100k
2.30*%$100k-AFFCU3 Year CD
OTHER TIERS: 2.10% → $1k - $2.5k | 2.15% → $2.5k - $12.5k | 2.20% → $12.5k - $25k | 2.25% → $25k - $100k
2.25*%$100k-AFFCU5 Year CD
OTHER TIERS: 2.10% → $2.5k - $12.5k | 2.15% → $12.5k - $25k | 2.20% → $25k - $100k
1.95*%$100k-AFFCU1 Year CD
OTHER TIERS: 1.75% → $1k - $2.5k | 1.80% → $2.5k - $12.5k | 1.85% → $12.5k - $25k | 1.90% → $25k - $100k
Rates as of January 24, 2020.

In the past eleven months, the 1- and 2-year Share Certificates each had five rates increases, adding a total of 139 bps and 149 bps, respectively. The current APYs are the highest for both since DA began tracking them in late 2009. In the past, AFFCU Share Certificates had tiered APYs based on deposit levels, but the Rates page lists the same APY for each of the five different deposit tiers.

The Share Certificates are also available as IRAs (Traditional, Roth, and CESA), earning the same APYs with the same funding requirements.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.35*%$100k-AFFCU7 Year IRA
OTHER TIERS: 2.20% → $2.5k - $12.5k | 2.25% → $12.5k - $25k | 2.30% → $25k - $100k
2.30*%$100k-AFFCU2 Year IRA
OTHER TIERS: 2.10% → $1k - $2.5k | 2.15% → $2.5k - $12.5k | 2.20% → $12.5k - $25k | 2.25% → $25k - $100k
2.30*%$100k-AFFCU3 Year IRA
OTHER TIERS: 2.10% → $1k - $2.5k | 2.15% → $2.5k - $12.5k | 2.20% → $12.5k - $25k | 2.25% → $25k - $100k
2.25*%$100k-AFFCU5 Year IRA
OTHER TIERS: 2.10% → $2.5k - $12.5k | 2.15% → $12.5k - $25k | 2.20% → $25k - $100k
1.95*%$100k-AFFCU1 Year IRA
OTHER TIERS: 1.75% → $1k - $2.5k | 1.80% → $2.5k - $12.5k | 1.85% → $12.5k - $25k | 1.90% → $25k - $100k
Rates as of January 24, 2020.

As stated in the Truth-in-Savings Account Disclosure (part of the online application), the Early Withdrawal Penalty reads as follows:

The penalty we may impose will equal one half of the dividends that would accrue from the date of the withdrawal to the maturity date applying the contracted rate on the certificate based to the amount withdrawn over and above any dividends credited or accrued to the certificate to date of withdrawal.

Air Force FCU’s Member Rewards program lets you “earn more money on your certificate,” with an additional 10 or 20 bps applied when opening a certificate.

If you have an Air Force FCU loan AND checking account with direct deposit – receive a 20 basis point bonus reward.

If you have an Air Force FCU loan OR checking account with direct deposit – receive a 10 basis point bonus reward.

Availability

Headquartered in San Antonio, Texas, Air Force Federal Credit Union's field of membership (FOM) is primarily (and historically) comprised of military and civilian employees of the Department of Defense, but membership is open to all U.S. residents through the Airman Heritage Foundation.

A list of more than 50 organizations and companies that qualify for membership is available on the AFFCU’s website. The majority of these qualifying organizations are Department of Defense related and are located in Arkansas, Louisiana, Mississippi, Oklahoma, and Texas.

About a year ago, AFFCU announced that the FOM had expanded to include military veterans.

The new FOM will now allow AFFCU to include honorably discharged veterans who served in any of the Armed Services of the United States listed in its charter and members of their immediate families or households.

Joining AFFCU and/or opening a CD can be done online or in person at any of eight Texas branches located in Del Rio, San Antonio (6), and Schertz.

Credit Union Overview

Air Force Federal Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 6.64% (excellent) based on December 31, 2017 data. In the past year, AFFCU has increased its total non-brokered deposits by $10.98 million, an excellent annual growth rate of 3.18%. Please refer to our financial overview of Air Force Federal Credit Union (NCUA Charter # 8169) for more details.

Established in 1952, Air Force Federal Credit Union takes pride in "being built from the ground up by Airmen volunteers." With more than 43,300 members and assets in excess of $387 million, AFFCU has been named "Credit Union of the Year" (less than $1 billion in assets category) by the United States Air Force in 1996 and 2013.

How the Share Certificates Compare

When compared to the 203 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationally, Air Force Federal Credit Union’s 1-Year Share Certificate APY currently ranks second.

When compared to the 197 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationally, Air Force Federal Credit Union’s 2-Year Share Certificate APY currently ranks third.

7-Year Share Certificate

It’s hard to get excited about a 7-year CD that earns 3.20% APY, when 2-year CD APYs are nearing 3.00%. I’ve included this comparison simply because Air Force FCU’s 7-Year Share Certificate currently has the top APY for its term length category.

The above rates are accurate as of 5/7/2018.

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

Related Pages: San Antonio CD rates, 1-year CD rates, 5-year CD rates, nationwide deals

Comments
Air Force FCU Offers Competitive 1- and 2-Year CDs Nationwide
Comments
POSTED ON WEDNESDAY, AUGUST 30, 2017 BY KEN TUMIN
Deal Summary: 1-year Share Certificate, 1.56% APY; 2-year Share Certificate, 1.80% APY; $1k minimum deposit.

Availability: Easy membership through the Airman Heritage Foundation; employees (military and civilian) of Department of Defense in Arkansas, Louisiana, Mississippi, Oklahoma, and Texas; honorably discharged veterans.

More important than these Share Certificates is the following announcement on Air Force Federal Credit Union’s website.

If you know any AFFCU members in the affected areas, please help them in contacting AFFCU.

At the end of last week, Air Force Federal Credit Union (AFFCU) raised the rate on its 1-year...

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Air Force FCU (Easy Membership) Offers Competitive 1-Year CD
Comments (1)
POSTED ON SATURDAY, APRIL 9, 2016 BY KEN TUMIN
Availability: Easy membership through the Airman Heritage Foundation; Employees (military and civilian) of Department of Defense in Arkansas, Louisiana, Mississippi, Oklahoma, and Texas.

Earlier this week, Air Force Federal Credit Union (Air Force FCU) raised the rate on its 1-year Share Certificate (1.31% APY).

The minimum deposit to earn the 1.31% APY is $100k, with deposits below $100k earning an APY of 1.16%.

There have been 14 rate changes for the 1-year Share Certificate in nearly five years, with this week’s increase resulting in the...

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Higher 1-Year CD Rates and Top 7-Year CD Rate at Air Force FCU
Comments (2)
POSTED ON TUESDAY, MARCH 5, 2013 BY KEN TUMIN

Air Force Federal Credit Union recently increased its 1-year and 2-year CD rates. Also noteworthy is that its 7-year CD rates remain very competitive. The credit union's top-tier 1-year and 2-year CD rates went up by 15 basis points. The Jumbo 1-year CD now has a 1.00% APY, and the Jumbo 2-year CD has a 1.10% APY. These require a $100K minimum deposit. The rates for deposits under $100K are 0.85% APY for 1-year and 1.00% APY for 2-year. The credit union's Jumbo 7-year CD yield is still 2.00%. For...

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Top Long-Term CD Rates at Air Force FCU - Easy Membership
Comments (7)
POSTED ON WEDNESDAY, SEPTEMBER 26, 2012 BY KEN TUMIN

It has become very difficult finding CD rates over 2.00% in this awful interest rate environment. That's even the case for long-term CDs with terms over 5 years. In the last few months, we have seen several credit unions that have cut their long-term CD yields to 2.00% or lower. One credit union that hasn't yet cut rates like this is Air Force Federal Credit Union. It's still offering a 7-year CD and IRA CD with a 2.25% APY for a $100,000 minimum deposit and a 2.20% APY for a...

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Competitive Long-Term CD Rates at Air Force FCU - Limited Membership
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POSTED ON THURSDAY, JANUARY 19, 2012 BY KEN TUMIN

Air Force Federal Credit Union did something that's not common these days. It made some large rate increases on its share certificates. Its long-term CDs and IRA CDs are now competitive. The best ones include a 2.75% APY 7-year CD, 2.20% APY 5-year CD and a 1.60% APY 3-year CD. Minimum deposit is $100,000. For the 7-year and 5-year CDs, rates are 5 basis points lower for a $2,500 minimum deposit. These rates are listed in the credit union's rates page as of 1/19/2012.

The credit union's early withdrawal penalty is...

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