Last week, Appalachian Community Federal Credit Union (ACFCU) raised the rates on its 72-Month Super Saver Certificate (3.04% base APY) and 60-month Term Share Certificate (2.53% base APY). Both Certificates require a minimum deposit of $1k, with no stated balance cap.
All of ACFCU’s Term Share Certificates are also available as IRAs (Traditional and Roth), earning the same APYs with the same funding requirements, including the Relationship Bonuses.
Both Certificates were added to ACFCU’s product line more than six years ago. The latest APYs equal or slightly surpass the highest rates since November 2010.
Available on all Share Certificates 12 months and over. For each
additional service, add the corresponding Relationship Bonus.
It’s possible to add up to an additional 0.50% to the base rate by fulfilling any of the six following Relationship Bonuses.
- 0.10% - Direct Deposit - Social Security or Net Payroll Check (active checking required)
- 0.10% - myACFCU Online with eStatements (active checking required)
- 0.10% - Bill Pay
- 0.10% - Auto or Consumer Loan (one bonus per loan)
- 0.10% - VISA Credit Card
- 0.10% - Jumbo Certificate with balance over $100,000
As stated in the Account Disclosure document, the Early Withdrawal Penalty reads as follows:
For accounts with a term to maturity of 37 months to
60 months, the penalty imposed will equal 270 days' dividends.
For accounts with a term to maturity of 61 months or
greater, the penalty imposed will equal 365 days' dividends.
Headquartered in Gray, Tennessee, Appalachian Community Federal Credit Union’s field of membership (FOM) is primary residency based, with individuals who live, work, worship, or attend school in any of the following counties eligible to join.
Tennessee counties: Carter, Hawkins, Sullivan, Unicoi, or Washington.
Kentucky counties: Clinton, Jackson, McCreary, and Wayne
Virginia counties: Scott, Washington, or Wise.
Members of any of 24 “Human/Economic Appalachian Development Organizations” also qualify for membership.
In addition, immediate family members of an existing ACFCU member are also eligible.
Joining ACFCU can be done online or at any of five Tennessee branches located in Gray, Kingsport (2), Johnson City, and Rogersville. ACFCU also has branches in Kentucky (Berea and McKee) and Virginia (Norton).
Opening a Term Share Certificate requires an in-person visit to any of the above mentioned branches.
Credit Union Overview
Appalachian Community Federal Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 11.19% (excellent), based on December 31, 2016 data. In the past year, ACFCU increased its total non-brokered deposit by $414k, an above average annual growth rate of 0.27%. Please refer to our financial overview of Appalachian Community Federal Credit Union (NCUA Charter # 24495) for more details.
Established in 1932, Appalachian Community Federal Credit Union’s original FOM exclusively included the employees of the Mead Paper Mill (now Domtar) in Kingsport, Tennessee. A community charter was granted in 2001, and in early 2013 the charter again expanded, this time to “include anyone who belonged to the non-profit Human Economic Appalachian Development Corporation.” ACFCU is also a Community Development Financial Institution, certified by the U.S. Department of the Treasury.
Community Development Financial Institutions are mission-driven financial institutions that are dedicated to providing financial services to meet the needs of economically disadvantaged individuals within underserved communities. We invest in local communities who need financial services which may be unavailable to them.
How the Super Saver Certificate Compares
When compared to the 15 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Appalachian Community Federal Credit Union’s 72-Month Super Saver Certificate base APY currently ranks first. The various Relationship Bonuses only increase the intrinsic value of the Super Saver Certificate.
How the Term Share Certificate Compares
When compared to the 203 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Appalachian Community Federal Credit Union’s 60-Month Term Share Certificate base APY currently ranks first.
*Note: Melrose Credit Union is currently operating under an NCUA conservatorship.
The above rates are accurate as of 5/26/2017.