Black Friday 8-Month CD Special At Andrews Federal

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Deal Summary: 8-month Certificate Special, 2.86% APY, $1k min/$250k max deposit, limit of one per member, available starting on Friday, November 23, 2018.

Availability: Easy membership requirement

For the past five months, Andrews Federal Credit Union (Andrews Federal) 9-month Certificate Special (2.75% APY) had no real competition. That will change on Black Friday, when Andrews Federal unveils its 8-month Certificate Special (CS), which offers a 2.86% APY. Like the 9-month CS, the 8-month CS can be opened with a $1k minimum deposit, and is capped at $250k. There is also a limit of one 8-month CS per member.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.86%$1k-Andrews Federal Credit Union8 Month CD Special
Rates as of January 20, 2019.

When the 9-month CS was introduced in early July, its 2.75% APY was excellent; the next highest rate offered was 2.26% APY. Even in the current climate of climbing rates, there is still a difference of 22 bps between the 9-month CS and its nearest competitor.

Two years ago, Andrews Federal had three Black Friday Specials that were available through the end of December, although the original end-date was November 30. CSR wasn’t able to tell me how long the 8-month CS will be available, based on the information she had at hand. When the offer goes live on the Andrews Federal’s website, there should be some indication if this is a limited-time Black Friday Special, or perhaps a longer-lived Special.

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.

Thanks to DA reader, Ricochet, for the Forum post about Andrews Federal’s Black Friday Special.

Availability

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 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 4.18% (excellent), based on June 30, 2018 data. Andrews Federal has an excellent capitalization level (11.80%), the result of holding $1.63 billion in assets with $192.22 million in equity. 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 years later, Andrews Federal is Maryland’s fourth largest credit union and the 161st largest credit union in the country, with more than 126,000 members and assets in excess of $1.6 billion.

How the Certificate Special Compares

When compared to the nationally available similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit, Andrews Federal Credit Union's 8-month Certificate Special APY currently ranks first. (Great Lakes Credit Union’s 7-month Share Certificate Special not included because of the $7k balance cap.)

The above rates are accurate as of 11/21/2018.

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

Comments
Anon
Anon   |     |   Comment #1
This isn't as hot as their 9-month 2.75% APY deal was at the time it came out. I just joined Advancial and opened a 6-month at 2.78% ($50K minimum). Advancial also has a 3-month at 2.65% (again $50K minimum). I think the Advancial deals are just as attractive if you have $50K.
???
???   |     |   Comment #2
10k = $188.05
deplorable 1
deplorable 1   |     |   Comment #3
At 3% I would grab this but with a rate hike in Dec. GM right notes should be 2.79% APY on liquid cash and possibly some 2.75% savings accounts as well. Maybe I'll just do a small one since I'm already a member there and 8 months is pretty short.
#6 - This comment has been removed for violating our comment policy.
RJM
RJM   |     |   Comment #4
Decent 8 month rate. Although If I had funds, I would probably hold out for more in the next 6 weeks to 3 months.

I have a pair of NASA 2.25% that mature on 1/20 and 2/5. On top of the Ally deal that ends 1/15. If the market keeps tanking, I might not be buying CDs though?

(I guess the nasdaq was up about 1% today though)
#5 - This comment has been removed for violating our comment policy.
Test3
Test3   |     |   Comment #8
What are their policies? I only see this for the 9-month certificate on their site: "At maturity, all 9-Month Certificates will automatically renew at the 12-Month share certificate rate and term." How many days is there to withdraw this? Do they give notice? Can the interest be withdrawn before maturity? Is it credited before maturity?
gregk
gregk   |     |   Comment #10
Maybe you should ask them. No one with any sense here relies on other posters to provide this kind of information.
Test3
Test3   |     |   Comment #14
Sure, just wanted to get some initial impressions on what to expect.
RJM
RJM   |     |   Comment #13
I'm pretty sure they let me turn off the auto renew when I opened the CD and called the rep to get the shared branch deposit going.

But I also have a fail safe, I set a reminder email so I can call and make sure a week or so ahead of time. (Just in case I ignore their reminder email and/or snail mail)

Also, this is an 8 month, not 9.
deplorable 1
deplorable 1   |     |   Comment #15
I have mine set up to automatically be deposited into the share savings account at maturity. I think I set this up over the phone while opening the CD. Here are the specific terms for my 9 month CD:

Withdrawals of Dividends Prior to Maturity
The disclosed annual percentage yield assumes that dividends will remain on deposit until maturity. You may alternatively elect to have your dividends transferred to another account with the Credit Union. A withdrawal of dividends before maturity will reduce earnings. Fees may reduce earnings.
Renewal Policies
Your share certificate will automatically renew at maturity. You may alternatively elect to have your share certificate, upon maturity, transferred to another account with the Credit Union; if the Credit Union elects to not renew your share certificate automatically, we will notify you of this prior to your maturity date. Upon automatic renewal, we will place the funds, plus any dividends not already paid to you, in a new share certificate of the same type and for the same term as your original deposit (or the closest available type and term), at the dividend rate and annual percentage yield we are offering as of your maturity date for share certificates of that type and term (unless we notify you otherwise prior to maturity). You will have a grace period of ten (10) calendar days after the maturity date during which you may withdraw funds, add principal and/or change the terms of your share certificate without penalty.
Att
Att   |     |   Comment #16
Going to pass on this. With EBSB paying 2.5% on a savings account no sense looking up for 8 months. I did do a fairly large CD with Connexus for 4% and the 3.25 with NASA. Gonna see what comes up next month. Got some funds coming to me from a CD maturing st Penfed next month.
RJM
RJM   |     |   Comment #17
Got an email touting the 2.86% deal and an 84 month. The fine print is below.

1 Special 8-Month Certificate offer and stated APY available for a limited time only and may change at any time. APY effective November 23, 2018, is 2.86%; interest rate is 2.830%. Certificate has a $1,000 minimum and a $250,000 maximum balance. Must maintain a minimum $1,000 balance to earn the advertised APY. At maturity, all 8-Month Certificates will automatically renew at the 12-Month share certificate rate and term. Each individual member limited to one Special 8-Month Certificate during the promotional period.



2 Special 84-Month Certificate offer and stated APY available for a limited time only and may change at any time. APY effective November 23, 2018, is 3.45 %; interest rate is 3.41%. Certificate has a $1,000 minimum and a $250,000 maximum balance. Must maintain a minimum $1,000 balance to earn the advertised APY. At maturity, all 84-Month Certificates will automatically renew at the 84 -Month share certificate rate and term. Each individual member limited to one Special 84-Month Certificate during the promotional period.
RJM
RJM   |     |   Comment #18
More fine print at the top of the email seems to indicate the offers will be good thru the end of the year. Which means I won't be able to participate because my money is stuck at Ally thu 1/16. Hopefully something similar or better will be available then.

2.89% APY* for 8 Months1 and 3.45% APY* for 84 Months2 Limited Time Share Certificate Offers now through December 31, 2018
Andrews Federal Credit Union Adds 9-Month CD Special
Deal Summary: 9-month Certificate Special, 2.75% APY, $1k minimum deposit

Availability: Easy membership requirement

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.

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.


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