Andrews Federal Credit Union (Andrews Federal) has been busy in the past year, issuing a series of Special Share Certificates. The latest addition to the product line is the Special 17-month Share Certificate, which earns 2.95% APY. Like all of Andrews Federal Special Share Certificates, the 17-month requires a $1k minimum opening deposit and is capped at $250k. Each individual member is limited to one Special 17-Month Certificate.
|2.95%||$1k||$250k||Andrews Federal Credit Union||17 Month Certificate Special|
As stated in Andrews Federal's Truth-in-Savings document, the Early Withdrawal Penalty (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.
Thanks to DA reader, miser, for the Forum post about the new Andrews Federal Special 17-month Share Certificate.
Andrews Federal has been offering very competitive short-term Certificates for the past ten months. DA members who regularly read the bi-weekly CD Rates Summary have seen Andrews Federal’s 8- and 9-month Certificates near or at the top of the “Under 1-Year CD Rates” category. While the 9-month Certificate is no longer offered, the 8-month Certificate is still available.
|2.86%||$1k||$250k||Andrews Federal Credit Union||8 Month Certificate Special|
84-month Certificate Special
Andrews Federal's 84-month Certificate Special continues to earn 3.45% APY. Added to the product line in January, this Special has become more attractive for the most basic of reasons: interest rates may have peaked for this cycle. If rates should drop in the next few years, your investment will continue to earn 3.45% APY through 2026.
|3.45%||$1k||$250k||Andrews Federal Credit Union||84 Month Certificate Special|
As stated in the fine print (footnote 4) on the Special Certificates Rate page, the Early Withdrawal Penalty reads as follows:
The Special 84-Month Certificate has a penalty equal to 360 days of dividends.
Headquartered in Suitland, Maryland, Andrews Federal Credit Union’s field of membership includes virtually all U.S. citizens and resident aliens with 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 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 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 (minimum $5 deposit in the Base Share Savings Account) and/or opening a Special 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.
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.
With shared branching, credit unions from all over the country share facilities to give members convenient locations to perform transactions just as if they were in their home credit union.
Credit Union Overview
Andrews Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 3.84% (excellent), based on December 31, 2018 data. In the past year, Andrews Federal has increased its non-brokered deposits by $127.38 million, an excellent annual growth rate of 9.54% 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-one years later, Andrews Federal is Maryland’s fourth largest credit union and the 150th largest credit union in the country, with more than 128,500 members and assets in excess of $1.7 billion.
How the Special Share Certificate Compares
When compared to 175 nationally available similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit, Andrews Federal Credit Union's Special 17-month Share Certificate APY currently ranks second.
The above rates are accurate as of 4/19/2019.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.