At the end of last week, American Eagle Financial Credit Union (AEFCU) dramatically raised the rates on its 18-month Certificate (2.25% APY) and 6-month Certificate (2.00% APY). These limited-time offers require a $1k minimum deposit, with a maximum deposit of $500k.
|2.25%||$1k||$500k||American Eagle Financial Credit Union||18 Month CD w/ Checking|
|2.00%||$1k||$500k||American Eagle Financial Credit Union||6 Month CD w/ Checking|
The both Certificates are available as IRAs (Traditional and CESA) earning the same APYs. The Traditional IRA requires a $1k minimum opening deposit, while the CESA can be opened with $500.
A new or existing AEFCU checking account is required to qualify for the stated APYs. Both the My Checking and My Ultimate Checking accounts qualify for this promotion. (AEFCU’s My Basic Check account is excluded from the promotion.) The My Checking account has no monthly service charge, and the My Ultimate Checking $20 monthly service charge can be avoided if a $25k combined average in monthly deposit and loan balances is maintained.
As stated on AEFCU’s Certificate Disclosure page, the Early Withdrawal Penalty reads as follows:
If your account has an original maturity of six months or less: The penalty we may
impose will equal 30 days dividends on the amount withdrawn subject to penalty.
If your account has an original maturity of 18 months or less: The penalty we may
impose will equal 90 days dividends on the amount withdrawn subject to penalty.
$100 Checking Bonus
Coincidentally, AEFCU is offering a $100 bonus when opening a new checking account, now through November 30, 2017. To qualify for the bonus, the member cannot have an open, existing AEFCU checking account, or have had an AEFCU checking account in that last 365 days. In additional, the following requirements must be met within 60 days of account opening.
- Enroll in e-Statements
- Make 15 debit card transactions
- Get Direct Deposit totaling $250
The $100 bonus will be deposited in the member’s share savings account within 120 days of account opening. There is a $15 fee if the new checking account is closed within 180 days of opening.
Headquartered in East Hartford, American Eagle Financial Credit Union field of membership (FOM) is residency based, with individuals who live, work, worship, or attend school in the Connecticut counties of Hartford, Middlesex, New Haven, and Tolland eligible to join.
Joining AEFCU and/or opening a Certificate can be done online, or in person at any of 18 Connecticut branches located in Bloomfield, Cromwell, East Hartford (5), Enfield, Farmington, Glastonbury, Manchester, Middletown, Newington, Plainville, South Windsor, Southington, Vernon, and West Hartford.
If you prefer a brick-and-mortar experience, the Membership Application is available as a download to expedite the process.
Note: The Middletown and four of the East Hartford locations are “in-plant” branches, and are not open to the general public.
Credit Union Overview
American Eagle Financial Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 6.22% (excellent) based on June 30, 2017 data. In the past year, AEFCU has increased its total deposits by $137.67 million, an excellent annual growth rate of 10.76%. Please refer to our financial overview of American Eagle Financial Credit Union (NCUA Charter # 68659) for more details.
American Eagle Financial Credit Union can trace its beginnings back to 1935, when Pratt & Whitney Aircraft Employment Manager, Harry C. Smith, and 14 fellow employees founded the East Hartford Aircraft Federal Credit Union. In the past 82 years, membership growth and expansion (including three name changes and two charter changes) has resulted in AEFCU becoming Connecticut’s second largest credit union, with more than 127,200 members and assets in excess of $1.6 billion.
How the Certificates Compare
When compared to the 209 similar length-of-term CDs tracked by DepositAccounts.com, that require a similar minimum deposit and available within the FOM, American Eagle Financial Credit Union's 18-month Certificate APY currently ranks first.
When compared to the 257 similar length-of-term CDs tracked by DepositAccounts.com, that require a similar minimum deposit and available within the FOM, American Eagle Financial Credit Union's 6-month Certificate APY currently ranks first.
The above rates are accurate as of 11/13/2017.
To search for the best CD rates, both nationwide and state specific, please refer to the CD rates section of DepositAccounts.com or our Rates Map page.