American Eagle Financial Credit Union’s (AEFCU) 15-month Certificate rate skyrocketed to 3.15% APY earlier this week. The minimum opening deposit is $1k, with a maximum deposit of $500k.
The recent addition of 285 bps has transformed the 15-month Certificate from a nonstarter with 0.70% APY for more than seven years, to a rate contender.
|3.15%||$1k||-||American Eagle Financial Credit Union||15 Month CD|
|3.15%||$1k||$500k||American Eagle Financial Credit Union||15 Month IRA (Traditional, Roth)|
|3.15%||$500||-||American Eagle Financial Credit Union||15 Month CESA|
The Certificate is also offered as an IRA (Traditional and CESA) earning the same APY. The Traditional IRA can be opened with a $1k minimum opening deposit, while the CESA requires only a $500 deposit.
In the past, AEFCU has required a checking account to qualify for CDs with promotional rates. While there is no specific reference to a checking relationship for the 15-month Certificate, there is fine print (marked with “**”) on the Certificate Rates page that mentions a required checking account. I wasn’t sure which (if any) Certificate this applied to, because there is no “**” next to any Certificate listed on the Rates page. According to CSR (and her supervisor), at this time there are no Certificates being offered that require a checking account relationship.
According to CSR, the Early Withdrawal Penalty for certificates with terms of 18 months or less is “90 days dividends on the amount withdrawn.”
Headquartered in East Hartford, American Eagle Financial Credit Union field of membership (FOM) is residency based, with U.S. citizens and resident aliens who live, work, worship, or attend school in the Connecticut counties of Hartford, Middlesex, New Haven, and Tolland eligible to join.
Immediate family members or household members of current AEFCU members are welcome to apply.
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.
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 6.10% (excellent) based on June 30, 2018 data. In the past year, AEFCU has increased its total deposits by $74.23 million, an excellent annual growth rate of 5.24%. 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 83 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 135,600 members and assets in excess of $1.6 billion.
How the Certificate Compares
When compared to the 229 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 15-month Certificate APY currently ranks first.
The above rates are accurate as of 10/4/2018.
To search for the best CD rates, both nationwide and state specific, please refer to the CD rates section of DepositAccounts.com.