Andrews Federal Credit Union 24-Month Jumbo CD Adds 65 bps

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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:

When they go low, we go high. Enjoy new increased Share Certificate rates.

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, offering a 2.15% APY following a 65 bps increase. Surprisingly, Andrews Federal’s Jumbo Share Certificates only require a $10k minimum opening deposit.

APYMINMAXINSTITUTIONPRODUCTDETAILS
0.05%$10k-Andrews Federal Credit Union24 Month Jumbo Share Certificate
Rates as of August 10, 2020.

The 24-month Jumbo is also available as an IRA Certificate (Traditional, Roth, CESA), earning the same APY with the same funding requirements.

As stated in the fine print on the Share Certificates Rate page, the Early Withdrawal Penalty reads as follows:

If your account has an original maturity of 24 months or
greater, we will charge a penalty equal to 180 days of dividends.

Availability

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 Jumbo 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 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 Jumbo Share Certificate Compares

When compared to 141 nationally available similar length-of-term CDs tracked by DepositAccounts.com that require a minimum deposit of $10k or less, Andrews Federal Credit Union's 24-month Jumbo Share Certificate APY currently ranks first.

The above rates are accurate as of 3/12/2020.

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, 5-year CD rates, nationwide deals

Comments
cdguy
  |     |   Comment #1
Good luck getting an employee of Andrews to pick up the phone.
anony
  |     |   Comment #2
They are really hard to get a hold of. It's kind of weird, as I never experienced that with any other bank ... it's like they have one phone person to handle the entire world.
alan1
  |     |   Comment #3
I seem to recall that, a few years ago, people reported having better experiences joining Andrews and getting info by calling branches rather than the call center.
anony
  |     |   Comment #4
The way I found easiest was leaving a callback number when first given the option, as that fellow called back within 30 minutes or so. If you wait until you hit the call center and then give a callback number, then that can be 1-2 days for a banker to call you back. At least that was my experience ... again, very weird. Plus side though is once you get a bank person, they seem to know their stuff, had no problems with them.
RichReg
  |     |   Comment #8
I just got thru within 10 minutes.

Andrews had a system conversion this month from the 4th to the 10th, so everyone
was calling about the online banking (not necessarily for CDs).
decades
  |     |   Comment #5
It’s time to be raising LIQUID cash as in local checking accounts and cash on hand . Ask for NEW $100 ‘s . The financial system could be in danger of locking up . Those 7yr cd’s taken out at Andrews a few years ago looking good right now. I heard they pumped a trillion into the banking system today to avoid lock up.
Mackeral Kintabe
  |     |   Comment #6
With supply shortages, long term, this may not be a low inflation recession.
decades
  |     |   Comment #7
Great point , thank you sir.
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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Deal Summary: 3-month Share Certificate Special, 3.01% APY, $1k minimum deposit, limit of one certificate per member, available 11/25/2019 through 12/6/2019.

Availability: Easy membership requirement

Last year, Andrews Federal Credit Union (Andrews Federal) had a Black Friday 8-month Share Certificate Special that earned 2.86% APY. Last week, Andrews Federal announced it would be offering a limited-time 3-month Share Certificate Special (SCS) earning 3.01% APY. Now through December 6, 2019, the 3-month SCS can be opened with a $1k minimum deposit. Unlike other Andrews Federal SCS, this 3-month...

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Andrews Federal Credit Union 84-Month CD (3.05% APY) Is A Rate Leader
Deal Summary: 84-month Share Certificate Special, 3.05% APY, $1k min/$250k max deposit, limit of one certificate per member.

Availability: Easy membership requirement

The 84-month Share Certificate Special (SCS) offered by Andrews Federal Credit Union (Andrews Federal) is nearing its one-year anniversary. Although its rate dropped in August from its initial 3.45% APY to 3.05% APY, the 84-month SCS is still a rate leader and is one of the few nationally available 3%+ CDs. The minimum opening deposit is $1k, with a balance cap of $250k. There’s...

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Deal Summary: Special 17-month Share Certificate, 2.95% APY, $1k min/$250k max deposit, limit of one certificate per member.

Availability: Easy membership requirement

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...

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Andrews Federal Credit Union Has 6-Month CD (3.25% APY) For One Week
UPDATE 2/25/2019: The Special 6-Month Share Certificate can now be opened. There’s an online application link at the credit union’s Special Offers page.

Deal Summary: Special 6-month Share Certificate, 3.25% APY, $1k min/$250k max deposit, limit of one per member, new money OR checking account, debit card, and direct deposit of $750+, available February 25 through March 2, 2019.

Availability: Easy membership requirement

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