AMOCO Federal Credit Union 12- and 24-Month CDs Have Rate-Leading APY


Deal Summary: CDs – 12-month and 24-month, 5.12% APY, $1k minimum opening deposit.

Availability: 477 census tracts in greater Houston/Galveston, Texas metro area.

AMOCO Federal Credit Union (AMOCO) recently boosted the rates on its entire CD product line. With increases of 192 bps and 139 bps respectively, the 12-month CD and 24-month CD each earn 5.12% APY. The minimum opening deposit is $1k, with no stated balance cap. Note: while AMOCO offers balance tiers on all its CDs of $1k, $100k, and $200k, the 5.12% APY applies to all deposit levels for the 12-month CD and 24-month CD.

Both CDs are available as IRA CDs (Traditional and Roth), earning the same 5.12% APY and $1k minimum deposit.

Bump-Up Certificates

You often have to settle for a lower rate to receive a bump-up option on a CD. In these cases, it’s questionable if the bump-up option is worth it. That’s not a worry for AMOCO. The 12- and 24-month Bump-Up CDs have the same rates as the standard CDs. So there’s no downside for choosing the Bump-Up CDs. The Bump-Up Option is described in the AMOCO Term Share Certificate page as follows:

A Bump-Up Certificate has all the same features as a term share certificate; however, when our term share certificate rates go up, you can use your one-time bump-up option to raise your rate anytime during the term of your certificate. A one-time bump-up will not change the terms of the certificate, and the rate must be equivalent to existing term.

Member Loyalty Rewards

AMOCO’s Member Loyalty Rewards program can increase the rate on an AMOCO CD. There are three loyalty levels – Gold, Silver, and Bronze – that can add 30, 20, or 10 bps, respectively. Each loyalty level is determined by points: Gold, 20+; Silver, 14-19; and Bronze, 7-13.

Member Loyalty points are easy to earn and are based on the products and services you use at AMOCO. The program is designed to offer instant rewards. Plus, you have the opportunity each month to level up to a higher Member Loyalty Reward tier when you use additional AMOCO products and services!

There are seven products and services that can earn loyalty points.

  • Direct Deposit – 7 points
  • Deposit Balance, minimum $50k cumulative balance on all accounts, includes CDs – 7 points
  • Debit Card, minimum one transaction per month – 5 points
  • Credit Card – 5 points
  • Mortgage Loan – 3 points
  • Auto Loan – 2 points
  • Checking Account – 1 point

Early Withdrawal Penalty

As stated on the Truth-in-Savings disclosure, the Early Withdrawal Penalty reads as follows:

Terms of Up to 1 year 90 days' dividends

Terms of Greater than 1 year, but less than 3 years 120 days' dividends


Headquartered in Texas City, Texas, AMOCO Federal Credit Union significantly expanded its field of membership (FOM) last summer. Individuals who live, work, worship, attend school, or frequently do business within 477 census tracts in Texas are now eligible to join.

The Field of Membership Expansion page describes the 477 Texas census tracts as “north to south from Liberty, Texas to the shoreline just south of the Justin Hurst Wildlife Management Area and east to west from High Island Beach to Mission Bend neighborhood of Houston.”

Unfortunately, there is no map on the AMOCO website that would easily identify the 477 census tracts. Using the boundaries described above, it appears that most of the Houston/Galveston metro area is included in the FOM.

Joining AMOCO and/or opening a CD can be done online, or at any of the 10 full-service Texas branches located in Alvin, Dickinson, Friendswood, Galveston, Houston (2), League City, Santa Fe, and Texas City (2),

When you join AMOCO Federal Credit Union you begin your membership by opening a basic savings with no minimum deposit. The CU will deposit $1 as a complimentary gift for opening your new account.

AMOCO participates in the CO-OP Shared Branch network, but not the ATM network.

Funding and Other Details

The following information is from a conversation with CSR.

  • Funding – ACH, internal transfer, Shared Branch transaction.
  • CO-OP Shared Branch Participant – Yes.
  • Dividends – Compounded/credited monthly and can be automatically transferred into an AMOCO checking/savings account.
  • Maturing Funds – Cashier’s check to address on file or internal transfer to an AMOCO checking/savings account.
  • Beneficiaries – Unlimited, equal shares, Social Security numbers are required.
  • Grace Period –10 calendar days before automatic renewal.
  • Credit Check – Soft pull.

Credit Union Overview

AMOCO Federal Credit Union has an overall health grade of "A" at, with a Texas Ratio of 3.90% (excellent) based on September 30, 2022 data. In the past year, AMOCO has increased its total non-brokered deposits by $85.34 million, resulting in an excellent annual growth rate of 8.13%. Please refer to our financial overview of AMOCO Federal Credit Union (NCUA Charter # 2441) for more details.

Founded in 1937 as the Pan Am Employees Federal Credit Union, the original FOM was exclusive to the employees of Pan American Refining Corporation in Texas City. The FOM expanded ten years later to include employees of Amoco Chemicals in Texas City. The credit union rebranded as the Amoco Federal Credit Union in 1955, to reflect Pan American Refining’s new name: Amoco Oil Refinery.

The 1998 merger between British Petroleum and Amoco Oil resulted in BP Amoco, later simply known as BP. According to the Our History page,

With that change, Amoco Federal Credit Union made a choice to keep its name the same because it represented stability and familiarity in the community. Hence, the board and management decided to make only one minor change. The “Amoco” name was changed to represent an acronym, making it AMOCO (A Member Owned Cooperative Organization) Federal Credit Union.

As the 26th largest credit union headquartered in Texas, AMOCO currently has nearly 99,000 members and assets in excess of $1.3 billion.

How the 12-Month CD Compares

When compared to similar length-of-term CDs tracked by that are available within the market area and have minimum deposit requirements of $10k or less, no banks or credit unions have a higher rate than offered on AMOCO Federal Credit Union 12-month CD. The following table compares the 12-month CD to the two highest-rate CDs from other banks, and the two highest-rate CDs from credit unions.

How the 24-Month CD Compares

When compared to similar length-of-term CDs tracked by which are available within the FOM and have minimum deposit requirements of $10k or less, no banks or credit unions have higher rates than currently offered on the AMOCO Federal Credit Union 24-month CD. The following table compares the 24-month CD to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 2/7/2023.

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

Related Pages: Houston CD rates, 1-year CD rates, 5-year CD rates, IRA CD rates

  |     |   Comment #1
I have looked for this but all I find is a 5.00 offer when I try to open the account?
AMOCO Federal Credit Union Has Limited-Time Top Rate 24-Month CD
Deal Summary: Special 24-month CD, 3.04% APY, $1k minimum deposit, now through July 31, 2022.

Availability: Greater Houston/Galveston, Texas metro area

Now through July 31, 2022, AMOCO Federal Credit Union (AMOCO) is offering a Special 24-month CD, earning 3.04% APY. The minimum opening deposit is $1k, with no stated balance cap. (Note: while AMOCO offers tiered rates on all its other CDs ($1k, $100k, $200k), the 3.04% APY applies to all deposit levels.)

According to the promotion page,

FYI – Member Loyalty Rewards can add 10, 20,...

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