It’s been more than a year since Andrews Federal Credit Union (Andrews Federal) offered a really competitive CD. The latest deal is a 9-month Certificate Special, which earns 2.75% APY. This limited-time offering can be opened with a $1k minimum deposit, and is capped at $250k.
|2.75%||$1k||$250k||Andrews Federal Credit Union||9 Month Certificate Special|
As stated in the fine print on the Share Certificates page,
Each individual member limited to one Special
9-Month Certificate during the promotional period.
As stated in Andrews Federal'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.
Other Certificate Specials
In addition to the 9-month Certificate Special, Andrews Federal is also featuring three others. While the 9-month is definitely the most competitive, its companion Certificate Specials merit mentioning.
|3.05%||$1k||$250k||Andrews Federal Credit Union||55 Month Certificate Special|
|2.55%||$1k||$250k||Andrews Federal Credit Union||30 Month CD Special|
|2.25%||$1k||$250k||Andrews Federal Credit Union||17 Month CD Special|
Thanks to DA reader, retirednc, for the Forum post about Andrews Federal’s newest Certificate Specials.
Remember the 84-Month Share Certificate?
In January 2017, I wrote about the 84-month Share Certificate, which was offered at 3.00% APY. Even after 18 months of rising rates, that 3.00% APY is still not a bad rate. In fact, there are currently only three 7-year CDs with higher APYs (3.10% and 3.20%). Andrews Federal's current rate for its 84-month Share and IRA Certificate is only 2.20% APY.
Headquartered in Suitland, Maryland, Andrews Federal Credit Union offers membership to virtually all U.S. citizens and resident aliens through a variety of ways.
Easy Membership Requirement - Members of the American Consumer Council (ACC) are eligible to join Andrews Federal.
Note: Andrews Federal's online application asks for your ACC membership number; in other words, you must join ACC prior to joining Andrews Federal. As stated in the online application, “You can join ACC at no charge by using the promo code – Andrews."
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 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 Federal and/or opening a Certificate Special 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 Federal 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 DepositAccounts.com, with a Texas ratio of 3.64% (excellent), based on March 31, 2018 data. In the past year, Andrews FCU increased its total non-brokered deposits by $15.63 million, an above average annual growth rate of 1.17%. 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 Federal is Maryland’s fourth largest credit and the 179th largest credit union in the country, with more than 121,000 members and assets in excess of $1.5 billion.
How the Certificate Special Compares
When compared to the nationally available similar length-of-term CDs tracked by DepositAccounts.com that required a minimum deposit of $10k or less, Andrews Federal Credit Union's 9-month Certificate Special APY currently ranks first.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|2.75% APY||9-Month Certificate Special ($1k min)||Andrews Federal Credit Union|
|2.26% APY||9-Month CD ($10k min)||CD Bank|
|2.20% APY||9-Month Share Certificate Special (1k min)||Service Credit Union|
The above rates are accurate as of 7/5/2018.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.