Added to the product line in late September, Andrews Federal Credit Union’s (Andrews Federal) 13-month Share Certificate Special (SCS) is the newest of five SCS currently available. While its 2.15% APY wasn’t that competitive when the SCS was first introduced, it’s become more impressive as many other 1-year CD rates have fallen. Like all of the SCS, the 13-month SCS can be opened with a minimum $1k opening deposit and is capped at $250k. There’s also a limit of one 13-month SCS per individual member.
|2.15%||$1k||$250k||Andrews Federal Credit Union||13 Month Certificate Special|
As stated in the fine print on the Special Certificates Rate page, the Early Withdrawal Penalty reads as follows:
If your account has an original maturity of less than 24 months,
we will charge a penalty equal to 90 days of dividends.
In November, I reviewed Andrews’ 7-year Share Certificate Special and its other Specials. These rates have held since November. The 7-year SCS continues to be one of the few nationally-available CDs with yields over 3%.
Headquartered in Suitland, Maryland, Andrews Federal Credit Union’s field of membership includes virtually all U.S. citizens and resident aliens who have a valid Social Security number.
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 on Andrews Federal’s Membership page,
You can join the American Consumer Council at no charge. Just use 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 an employee 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 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.
Your Andrews Federal Credit Union membership begins with a $5.00 deposit to your Base Share Savings Account.
Andrews Federal participates in the CO-OP Share Branch Network, providing its members with access to more than 5,000 branch locations and nearly 3,000 ATMs.
Through the CO-OP Shared Branch Network, you will be able to complete some of the same transactions as if you were at an Andrews Federal branch.
Credit Union Overview
Andrews Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 5.39% (excellent), based on September 30, 2019 data. In the past year, Andrews Federal has increased its non-brokered deposits by $208.67 million, an excellent annual growth rate of 14.47% APY. 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. Seventy-two years later, Andrews Federal is Maryland’s fourth largest credit union and the 143rd largest credit union in the country, with more than 133,000 members and assets in excess of $1.9 billion.
How the Share Certificate Special Compares
When compared to 209 nationally available similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit, Andrews Federal Credit Union's 13-month Share Certificate Special APY currently shares the second spot with five other 1-year CD APYs.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|2.20% APY||12-Month Term CD||Quontic Bank|
|2.15% APY||13-Month Share Certificate Special||Andrews Federal Credit Union|
|2.11 APY||12-Month CD||CFSB|
The above rates are accurate as of 1/20/2020.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.