Andrews Federal Credit Union Debuts Rate-Leading 9-Month CD Special


Deal Summary: 9-Month CD Special, 5.75% APY, $1k minimum /$250k maximum deposit, limit of one CD Special per member.

Availability: Easy membership requirement.

DA reader, marcal, broke the news yesterday morning:

Signed in [to Andrews FCU] today to move money out of last 5% special and found a new offer. 9 Months 5.75% apy. Minimum deposit of $1000.00.

Maryland-based Andrews Federal Credit Union (Andrews Federal) has added a 9-month Summer Celebration CD Special, with a 5.75% APY “that will make you look up and take notice.”

There is a limit of one 9-Month CD Special per member. This limited-time offer can be opened with $1k minimum deposit, with a maximum deposit of $250k allowed, but the fine print on the Share-Certificate-Rates page includes this cautionary note:

Credit Union reserves the right to limit deposits into this special certificate.

I am not sure if that statement means that an opening deposit may not exceed $250k, or if Andrews Federal could arbitrarily impose a maximum deposit of their choosing. CSR wasn't sure either.

I’m fairly certain that DA’s regular readership is familiar with Andrews Federal’s misstep with its 7.5-month CD Special offering in June. The original documentation stated,

Offered APY effective as of June 1, 2023 through September 30, 2023,

then by June 5, it read,

Offered APY effective as of June 1, 2023.

and by June 7, the 7.5-month CD Special had disappeared from the Andrews Federal website.

DA readers, 111 and Rickny, voiced what most of us were thinking after reading marcal’s Forum post yesterday.

111: A few weeks ago Andrews offered a 5.75% CD and said the offer would be good through 9/30/23. Then after only a few days they yanked it. Maybe they're less of a jerk now, but I wouldn't bet the farm on it.

Rickny: If you plan on doing this I would do it fast.

Early Withdrawal Penalty

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.

Many thanks to all the DA readers for their Forum posts and comments about the 9-Month CD Special.


Headquartered in Suitland, Maryland, Andrews Federal Credit Union’s field of membership (FOM) includes virtually all U.S. citizens/resident aliens (18 years or older) 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 – U.S. active duty or retired military personal, military spouse, dependent or dependent survivor, or 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 businesses/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.

Account Opening

Joining Andrews Federal and/or opening the 9-month CD Special can be done online, or at any of ten full-service 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 5,600 branch locations and over 30,000 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.

Funding and Other Details

The following information is from the Andrews Federal website and a conversation with CSR.

  • Funding* – ACH, wire, check, or CO-OP shared branch transaction.
  • CO-OP Shared Branch Participate – Yes.
  • Ownership – Individual, joint, or trust.
  • Dividends – Compounded/credited quarterly and can be transferred to another Andrews Federal account.
  • Maturing Funds –Cashier’s check to address on file or transferred to a Base Share Savings Account.
  • Beneficiaries – Up to four beneficiaries (equal shares, with Social Security numbers required) can be added using the Payable-On-Death Beneficiary Designation Form. The form can be returned by secured message, by email, or at any branch location.
  • Grace Period – 10 calendar days before automatic renewal as a standard CD.
  • Credit Check – Soft pull.

*The following appears on the Share Certificate Rates page and even has its own landing page:

If you would like to open a new Share Certificate with money not already at Andrews Federal, you must transfer your money to your checking or savings account before opening a share certificate. Be sure to transfer in all new money, and then open your certificate.

Credit Union Overview

Andrews Federal Credit Union has an overall health grade of "A" at, with a Texas Ratio of 8.00% (excellent), based on March 31, 2023 data. In the past year, Andrews Federal has increased its non-brokered deposits by $118.23 million, an excellent annual growth rate of 6.45% 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-five years later, Andrews Federal is currently Maryland’s fourth largest credit union (and the 182nd largest credit union in the country), with more than 133,600 members and assets in excess of $2.4 billion.

How the 9-Month CD Special Compares

When compared to similar length-of-term CDs tracked by that available nationally and have minimum deposit requirements of $10k or less, no bank or credit union has a higher rate than currently offered on the Andrews Federal Credit Union 9-month CD Special. The following table compares the 9-month CD Special 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 7/25/2023.

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

Related Pages: New York CD rates, Philadelphia CD rates, Washington CD rates, Columbia CD rates, St. Louis CD rates, Abilene CD rates, 1-year CD rates, nationwide deals

  |     |   Comment #1
Half the length of time I could get with USAlliance, for 5 extra BPS?
I think I might go buy some Treasuries....
  |     |   Comment #3
INOVA has a new offer of a 14 month 5.75% CD
  |     |   Comment #5
..and a relatively new eligibility rule that requires me to live within 50 miles of a branch.
  |     |   Comment #4
My last interactions with AFCU were a customer service sh*show. It was like joey & kamelalala were on the other end of the emails & phone calls. I was finally able to remove my $ and told myself to never again make a deposit with them.
  |     |   Comment #6
So many people on this site have actually lost money because they've waited. To be fair, the fed rate has been raised 3-4 times recently and each time, CD rates actually go down, which is immoral to begin with. I locked in long term CDs last fall, and here we are 9 months later, and rates are the same or less. But.....

I ladder, so it dont matter!!
  |     |   Comment #8
I would have kept some money at Andrews had they had this deal available when my 5% CD matured but now according to my calculations with this next FED hike GM right notes and Dominion Energy Reliability Investment will be at 5.65% APY and Ford Interest Advantage may be at 5.75% APY on liquid cash. I would need a rate of 6% to make me lock up cash at this point. So far If I would have locked up money in CD's I would be losing out so I'm not sure what LovinSomeCDs is talking about here.
  |     |   Comment #9
What about when the CD matures?
What about the maturity date? Its just as important as they inception date.

All my 2018 CDs are maturing now, when rates are the highest they have been in awhile.

What if I would have waited until they peaked last time around (2019), they would all mature next year, 2024, which may (or may not) be too late.

Ladder and it wont matter!
  |     |   Comment #7
Hey Hey Hey....we are almost at 7% baby!! (for a 9 month CD lol)

If Biden gets reelected, we are sure to hit 7% CDs by 2028!! But that will be the "least" of our problems.....
  |     |   Comment #10
To all the newbies out there looking to open up a CD do you self a favor and go with a reliable credit union like NASA Federal credit Union or bread savings and take the 20 to 25 less basis point and see what a real credit union or bank to do business with is really about. Super easy to join no aggravation, great customer service and peace of mind to sleep at night without all the BS handed out by Andrew‘s.
  |     |   Comment #12
Not this time Andrews FCU, I want my money and I want it now!! LOL
  |     |   Comment #13
5.75% 9-month CD Special appear gone/dead
Andrews Federal Credit Union Adds Rate-Leading 7.5 Month CD Special - Expired
Update 6/7/23: The 7.5 Month CD Special has ended early.

Deal Summary: 7.5-Month CD Special, 5.75% APY, $1k min/$250k max deposit, limit of one per member.

Availability: Easy membership requirement.

As DA reader, cumulus, noted in a Forum post last week, Andrews Federal Credit Union (Andrews Federal) is offering a new CD Special. In celebration of its 75th anniversary, Andrews Federal has added a 7.5-month CD Special, earning a very competitive 5.75% APY. The opening deposit must be at least $1k and is capped at $250k, with...

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Andrews Federal Credit Union Adds Wow-Worthy 7-Month CD Special
Update 12/21/2022: The availability of the 5.00% APY 7-Month Inflation Buster Share Certificate Special has been extended for the second time. It's now scheduled to be available through December 30, 2022. This post was originally published on November 8, 2022.

Deal Summary: 7-Month Inflation Buster Share Certificate Special, 5.00% APY, $1k min/$100k max deposit, new money, limit of one per member, available through 12/2/2022.

Availability: Easy membership requirement.

Now through December 2, 2022, Andrews Federal Credit Union (Andrews Federal) is offering a 7-Month Inflation Buster Share Certificate Special (IBSCS)...

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Deal Summary: 7-month Share Certificate Special, 3.00% APY, $1k min/$50k max deposit, in-branch only, limit of one per member.

Availability: Easy membership requirement.

Now through October 31, 2022, Andrews Federal Credit Union (Andrews Federal) is offering 7-month Share Certificate Special in celebration of the Joint Base Andrews 75th Airshow. Earning 3.00% APY, the 7-month Share Certificate Special must be opened in-branch with a $1k min/$50k max deposit of new money (funds not already on deposit at Andrews Federal). There is a limit of one 7-month Share Certificate...

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Andrews Federal Credit Union 24-Month Jumbo CD Adds 65 bps
Deal Summary: 24-month Jumbo Share Certificate, 2.15% APY, $10k minimum deposit.

Availability: Easy membership requirement.

I, as well as many DA readers, was sad to see that Andrews Federal Credit Union (Andrews Federal) stopped offering its long-running Certificate Specials earlier this month. But according to Andrews Federal Credit Union’s website home page, there actually is a little good news:

That announcement is welcome news, considering the recent downward rate spiral. While Andrews Federal has raised rates on all its Share Certificates, the 24-month Jumbo is the most competitive,...

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Andrews Federal Credit Union's 13-Month CD Special A Near Rate Leader
UPDATE 3/7/20: Andrews Federal Share Certificate rates have fallen.

Deal Summary: 13-month Share Certificate Special, 2.15% APY, $1k min/$250k max deposit, limit of one certificate per member.

Availability: Easy membership requirement.

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...

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