Andrews FCU Hikes 12-Month CD Rate


Deal Summary: 12-month Jumbo Share Certificate, 1.45% APY, $10k minimum deposit

Availability: Easy membership requirement

Over the past year, Andrews Federal Credit Union (Andrews FCU) has offered a variety of CD Specials and competitive rates. The latest deal from Andrews FCU is the 12-month Jumbo Share Certificate (1.45% APY, $10k min). Unlike Jumbo CDs at most other institutions, this one has a relatively small minimum deposit of $10k. The 12-month Share Certificate has a rate that's just a little lower (1.41% APY, $1k min).

1.45%$10k-Andrews Federal Credit Union12 Month Jumbo Share Certificate
1.45%$10k-Andrews Federal Credit Union12 Month Jumbo IRA Certificate (Traditional, Roth, CESA)
Rates as of May 22, 2018.

This Jumbo Share Certificate is also available as an IRA (Traditional, Roth, CESA), earning the same APY with the same funding requirements.

The 12-month Jumbo Share Certificate has been part of the product line since April 2016, when the initial APY was 0.85% APY. There was a rate increase of ten basis points four months later, but this week’s increase of 50 basis points is quite noteworthy.

As stated in Andrews FCU's Truth In Savings document, the EWP reads as follows:

If your account has an original maturity date of less than 24 months,
we will charge a penalty equal to 90 days of dividends.

84-month Share Certificate

Even though I wrote about the 84-month Share Certificate (3.00% APY, $1k minimum) only last week, it bears mentioning again. What makes this Share Certificate such a great deal is the very mild Early Withdrawal Penalty (EWP).

Not exactly sure how this EWP plays out? DA’s EWP Calculator shows the effective APY when closing a CD before maturity. For example, closing the 84-month Share Certificate after two years would result in a 2.27% APY, which is currently 67 basis points higher than any other nationally available 2-year CD.

Please refer to the 84-month CD blog post for more details.


Headquartered in Suitland, Maryland, Andrews Federal Credit Union offers membership through a variety of ways.

Easy Membership Requirement - Members of the American Consumer Council (ACC) are eligible to join Andrews FCU. (Note: Andrews FCU's online application asks for your ACC membership number. In other words, you must join ACC prior to joining Andrews FCU.)

Residency - Individuals who live, work, worship, or attend school in Washington, D.C. qualify for membership.

Military Relationship - Civilian and military personnel of Joint Base Andrews, Joint Base McGuire-Dix-Lakehurst, and military installations in central Germany, Belgium, and The Netherlands are also eligible to join.

Employment/Association - More than 200 groups in Maryland, New Jersey, and Virginia offer Andrews Federal Credit Union membership as a benefit.

Family Membership - Immediate family members (spouse, child, sibling, parent, grandparent, or grandchild) of an existing member, or household members of an existing member are eligible to join.

Joining Andrews FCU and/or opening a Share Certificate can be done online, or at any of ten U.S. branches located in Maryland (3), New Jersey (3), Virginia (2), and the District of Columbia (2). Andrews FCU also has branches associated with military bases in Germany, The Netherlands, and Belgium.

Credit Union Overview

Andrews Federal Credit Union has an overall health grade of "A+" at, with a Texas ratio of 2.57% (excellent), based on September 30, 2016 data. In the past year, Andrews FCU increased its total non-brokered deposits by $121.92 million, an excellent annual growth rate of 14.14%. Please refer to our financial overview of Andrews Federal Credit Union (NCUA Charter # 5754) for more details.

Andrews Federal Credit Union was established in 1948, when eight individuals each deposited $5 to form a credit union that would address the personal financial needs of military and civilian personnel at Andrews Air Force Base. Today, Andrews FCU is Maryland’s fourth largest credit and the 221st largest credit union in the country, with more than 119,200 members and assets in excess of $1.2 billion.

How the 12-month Jumbo Share Certificate Compares

When compared to the other similar length-of-term CDs tracked by that are nationally available, Andrews Federal Credit Union's 12-month Jumbo Share Certificate APY currently ranks first, regardless of minimum deposit.

The above rates are accurate as of 2/3/2017.

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

mc   |     |   Comment #1
I'm in the process of joining Andrews FCU right now. Not living close to a branch I went with the on-line application. It took about a week to get an acknowledgement back on the application. The next step is sending them proof of identity. After their due diligence they will eventually open my account and send me my on-line banking credentials. Not sure when I'll have my account up and running - mid-next week, I suppose (10-12 days altogether). After that I'll need to do additional paperwork and send them the funds if I want to open one of their 3% CDs. Figure up to two weeks or more depending on where you live and how liquid your funds are. If you are going after their 3% CD, keep in mind the delays you may encounter and the fact that the last day for this rate is unknown. In my experience if your funds are not in their hands by the last day, you will not get the rate you were seeking. I had been considering moving some of my Valor prime rate CD funds to Andrews but when you combine the fact that Valor will not tell you the last day of penalty-free withdrawals with Andrews not telling you the last day of the 3% CD, it's a real crapshoot at best. If your funds are in an IRA CD, it's more delay with the additional paperwork and concerns about rollovers and the IRS. Figure from to one or two weeks for an IRA direct transfer since they are frequently done through the (regular) mail with paper checks. One way to cut down the time involved in moving IRA CD funds is to fill out your application on-line (or express mail it) and ask the new institution to express mail the transfer request to the old institution using funds from your new regular account. Have the new institution send along instructions to the old institution to send the funds back also by express mail using funds from your old account. Using this method can get an IRA CD transferred in a couple of days. You may have to make a few calls to keep things moving. This is a bit of work and expense but can amount to thousands of dollars over the term of the new IRA CD.
tmdeee   |     |   Comment #2
They are a badly run, disorganized outfit. Applied online on 12/12/2016 (over 7 weeks ago), sent required paperwork and I.D. the next day. I only received acknowledgment of receiving the application, and have heard nothing since. I have contacted them by email and attempted by phone but the hold time is unbelievable. My mother-in-law has had similar problems.
I Luv 3%
I Luv 3%   |     |   Comment #3
Badly run....really? Whats your factual basis for stating that?
About time
About time   |     |   Comment #4
Seems clear to most readers...what part of not being responsive AND timely is not factual? They should clean up their act!
!!!   |     |   Comment #6
That's odd? I found Andrews FCU very responsive when I applied for membership in early December. Even had a very courteous CSR call me to confirm my membership. I then told her I would be mailing another check for a CD. She then called me a couple of days later when my check arrived at Andrews and had the CD all made out added to my account. So not everyone finds Andrews FCU disorganized.
About time
About time   |     |   Comment #7
All reps (apparently) aren't the same...that is a management problem
tmdeee   |     |   Comment #5
Read the reviews on their information page, I certainly don't stand alone.
I Luv 3%
I Luv 3%   |     |   Comment #10
You can either read reviews all day long or get on the phone and get the job's your call.
Don't know
Don't know   |     |   Comment #11
S/he did...they are unresponsive (apparently on a selective basis)...glad to read I Luv is one of the selected minority
Patharwood   |     |   Comment #21
They've had my app for over 3 weeks now with no response and I gave them my account numbers to transfer money still no response, I don't have time to wait on hold for hours at a time. Their call center is always experiencing high volumes and wait times can be long. I can't even log in to see my application
Kat   |     |   Comment #29
I joined back in November. I haven't had issues other then wait times on the phone. I can't even get through my there bank. We have to leave a message and they call us back. Joining Andrews FCU was a smart choice for us. For a long stretch they had better CD rates than any other bank in the country. I'll be a lifetime member for sure.
Kat   |     |   Comment #30
not there met to type ... other bank.
hank   |     |   Comment #8
I added a couple of pods to my cd at Andrews several weeks ago, but am having trouble getting them to send me some kind of written proof that they have been added to my account. They tell me over the phone they have been added but tell me the
"compliance department" is limiting what they can send me. I don't understand what their problem is but if I continue to have a problem will contact the NCUA
ATT   |     |   Comment #13
If you did not get a member number you can call. If you have that I believe you can create an online ID and you can see that your share account has been created.
bwk1954   |     |   Comment #14
I realize quite a few people have problems with this credit union. However, my husband and I joined and have transferred multiple Roth IRAs to them since last March. We have received good service from them. I have contacted them by phone with little waiting time and always reached a helpful CSR. My husband contacted them by secure message, and a very helpful manager called, set up a 3-way phone conversation with a bank who had lost the transfer paperwork twice (they admitted to not being able to find it), and got the ball rolling. My only complaint is that sometimes the process is a bit slow, but it is probably due to the number of folks wanting those 3% CDs.
About time
About time   |     |   Comment #15
I have my IRAs at local institutions. In the past I deliver the paperwork from the planned recipient bank/cu, and personally carry the check to that recipient institution
!!!   |     |   Comment #16
!!!   |     |   Comment #17
years. Ken's site has been great for finding the best rates.
!!!   |     |   Comment #18
Sorry for all my incomplete posts, #16 and 17. I finally figure what I was doing wrong. I would like to keep my IRAs local too, but not with the pitiful low rates ALL my local institutions are offing. That is why Ken's site is so valuable to finding the best rates around the country.
Ricochet   |     |   Comment #19
so sorry
man ,i'm ****ing up all day today
oppps scrUw is a dirty word
Patharwood   |     |   Comment #20
This place is a disaster. They've had my money and info for two weeks now no response sit on hold for hours with no response. Too good to be true
Marie   |     |   Comment #22
I have never had as hard a time getting a CD as with Andrews FCU. Problems have included long phone wait times, wrong information, incomplete information, a process that is dragged out, and a website that could be better designed.
DaveJ   |     |   Comment #23
The 7 years has lowered to 2.20%
Kaight   |     |   Comment #27
Even worse:

They also have lowered the IRA rate. Months ago Andrews featured the high rate on IRA CDs only. Then they extended the high rate to non-IRA accounts. Now the lower rates apply across the board. Bad luck.
Bogey   |     |   Comment #28
Andrews CU most likely feel they took In enough money with the 3% CD offerings, despite some nay sayers, so they are comfortable lowing the rates of their 84 month CDs even though now they are less attractive.

If that's the case, it makes good business sense for the credit union's operation.
Kat   |     |   Comment #31
People should have signed up while the opportunity was there. We did!!
LuvCD   |     |   Comment #32
Very insightful, Kat. Let us know you have some value to share!
$$$   |     |   Comment #33
Remember to have a transaction on acct to prevent possible 6 month " inactivity fee "
Andrews FCU Adds 84-Month Share Certificate
Availability: Easy membership requirement

Many DA readers took advantage of Andrews Federal Credit Union (Andrews FCU) Black Friday/Holiday Share Certificate deals, which expired in early January. One of those expired deals was an 84-month Share Certificate that earned 3.01% APY.

Andrews FCU has just added a “non-special” 84-month Share Certificate (3.00% APY). The minimum opening deposit is $1k, with no stated balance cap. Dividends are compounded and credited quarterly. Regular readers of DA’s CD Rates Summary are probably familiar with Andrews FCU’s 84-month IRA Certificate (3.00% APY), which...

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UPDATE 12/1/16: The Black Friday CD deals have become "Holiday" CD deals, and are extended through December 12/31/2016.

Availability: Easy membership requirement

On Monday, DA reader and contributor, ChasR, posted about Andrews Federal Credit Union (Andrews FCU) Black Friday Share Certificate deals, which are available now through November 30 December 31, 2016: 3-month Share Certificate (3.01% APY), 18-month Share Certificate (1.81% APY), and 84-month Share Certificate (3.01% APY).

The minimum opening deposit is $1k and the minimum balance to earn the stated APYs is $1k. Dividends are compounded...

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Availability: Easy membership requirement

Andrews Federal Credit Union (Andrews FCU) is currently featuring two IRA Nest Egg Certificates (Traditional, Roth, and CESA): 72-month (2.25% APY) and 84-month (3.00% APY).

The minimum opening deposit is $1k and the minimum balance to earn the stated APYs is $1k. Dividends are compounded and credited quarterly.

60-month Jumbo Share Certificate

In April, Andrews FCU added six Jumbo Share Certificates (both CD and IRA) to its product line, which require a minimum $10k deposit. Of the six, the 60-month...

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Andrews FCU (Easy Membership) Hikes Rates For Military Appreciation Month
Availability: Easy membership

May is Military Appreciate Month and Andrews Federal Credit Union (Andrews FCU) is observing the occasion by offering higher rates on the 6-month and 18-month Share Certificates throughout the month of May.

6-month Share Certificate

  • 3.25% APY Military Certificate
  • 3.00% APY Civilian Certificate

18-month Share Certificate

  • 2.25% APY Military Certificate
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The minimum deposit is $1k of new money, with a maximum deposit of $15k. This Military Appreciation Month offer is limited to one Share Certificate Special per member per account. In other words, you can open a...

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Andrews FCU (Easy Membership) Has Competitive 84-Month IRA
Availability: Easy membership

In July 2015, Andrews Federal Credit Union (Andrews FCU) added an 84-month IRA Certificate (Tradition, Roth, and CESA) to its product line. Nine months later, the initial 3.00% APY is still in effect.

The minimum deposit is $1k and there is no balance cap. Unlike most of Andrews FCU's other IRA Certificates, the 84-month IRA does not have a Share Certificate counterpart.

As stated in Andrews FCU's Truth In Savings document, the Early Withdrawal Penalty reads as follows:

If your account has...

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