Earn Up To 1.76% On Arbor Financial CU (MI) 13-Month No Penalty CD

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Deal Summary: 13-month No Penalty Certificate Special, 1.76% APY ($125k min), 1.51% APY ($70k min).

Availability: Residents of 21 southwest Michigan counties.

When I wrote about Arbor Financial Credit Union’s (Arbor Financial) 13-month No Penalty CD a year ago, it had only two APY tier levels – 1.26% ($25k+) and 1.00% (less than $25k). A year later, there are four tier levels with some competitive APYs.

  • 1.76% APY - $125k minimum
  • 1.51% APY - $70k minimum
  • 1.26% APY - $30k minimum
  • 1.00% APY - $500 minimum

According to CSR, there is no limit on the number of withdrawals, and no minimum or maximum dollar amount that can be withdrawn. If the balance should fall below any of the APY tier levels, the next lower APY will go into effect; should the balance dip below $500, the CD will be closed.

120-month CD

Arbor Financial is also offering one of the few long-term CDs currently available with an APY above 3.00%. Like the 13-month CD, the 120-month CD has tiered APYs, with the top tier earning 3.04% APY on balances of $125k+. The 120-month CD is also offered as an IRA (Traditional and Roth) earning the same tiered APYs, with the same funding requirements.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.04*%$125k-Arbor Financial Credit Union120 Month IRA (Traditional, Roth)
OTHER TIERS: 1.76% $500 - $30k | 2.27% $30k - $70k | 2.53% $70k - $125k
3.04*%$125k-Arbor Financial Credit Union120 Month Certificate
OTHER TIERS: 1.76% $500 - $30k | 2.27% $30k - $70k | 2.53% $70k - $125k
Rates as of July 22, 2018.

As stated in the Truth in Savings Addendum, the Early Withdrawal Penalty reads as follows:

Certificate Term of 84 months and greater, 4 years interest on the amount withdrawn.

Availability

Headquartered in Kalamazoo, Michigan, Arbor Financial Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, or worship in the following Michigan southwest counties eligible to join:

Allegan, Barry, Berrien, Branch, Calhoun, Cass, Clinton, Eaton, Gratiot, Hillsdale, Ionia, Ingham, Jackson, Kalamazoo, Kent, Montcalm, Muskegon, Newaygo, Ottawa, St. Joseph, and Van Buren.

Joining Arbor Financial and/or opening a CD can be done online, or at any of eight Michigan branches located in Kalamazoo (3), Lawrence, Paw Paw, Plainwell, Portage, and Three Rivers.

The Membership Application is also available for download, and can be returned either in person or by mail.

Credit Union Overview

Arbor Financial Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 1.16% (excellent) based on June 30, 2017 data. In the past year, Arbor Financial has increased its total deposits by $48.73 million, an excellent annual growth rate of 13.65%. Please refer to our financial overview of Arbor Financial Credit Union (NCUA Charter # 61708) for more details.

Arbor Financial Credit Union was originally chartered in 1935 as the Educational Community Federal Credit Union, better known as ECCU. As the ECCU name suggests, the Credit Union exclusively served school employees (Kalamazoo school system), but grew to eventually include the residents of Kalamazoo County and three adjacent counties. Four years ago, the FOM expanded to cover 21 southwest Michigan counties, and in August 2016, the name was changed to Arbor Financial Credit Union to “better reflect the idea that it caters to more than just educators.” Arbor Financial is currently the 25th largest credit union in Michigan, serving more than 37,600 members.

How the Certificates Compare

When compared to the 278 similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, Arbor Financial Credit Union's 13-month No Penalty Certificate Special top APY currently ranks third, regardless of minimum deposit. The “No Penalty” feature only adds to its competitiveness.

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, Arbor Financial Credit Union's 120-month Certificate APY currently ranks first, regardless of minimum deposit.

The above rates are accurate as of 12/6/2017.

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

Related Pages: Grand Rapids CD rates, 1-year CD rates, 5-year CD rates

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Arbor Financial Credit Union (MI) Has "Lucky 7" 7-Month CD Special

Deal Summary: “Lucky 7” 7-month CD/IRA Special, 1.27% APY ($25k min), 1.07% APY ($500 min)

Availability: Residents of 21 southwest Michigan counties.

Arbor Financial Credit Union (Arbor Financial) has added a “Lucky 7” 7-month CD Special (1.27% APY, $25k min; 1.07% APY, $500 min).

The 7-month CD Special is also offered as an IRA (Traditional, Roth) earning the same tiered APYs, with the same funding requirements.

As stated in the Truth in Savings Addendum, the Early Withdrawal Penalty reads as follows:

The penalty we may impose will equal...

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Arbor Financial CU (MI) Adds 62-Month CD Special

Deal Summary: 62-month CD/IRA Special, 2.75% APY ($25k min), 2.50% APY ($500 min)

Availability: Residents of 21 southwest Michigan counties.

February can be a dreary month in Michigan, but Arbor Financial Credit Union (Arbor Financial) is making the best of it with its 62-month CD Special (2.75% APY, $25k min; 2.50% APY, $500 min).

The 62-month CD Special is also offered as an IRA (Traditional, Roth) earning the same tiered APYs, with the same funding requirements.

As stated in the Truth in Savings Addendum, the Early Withdrawal Penalty reads as follows:

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New Momentum Checking At Arbor Financial CU (MI)
Availability: Residents of 21 southwest Michigan counties.

Earlier this week, I wrote about Arbor Financial Credit Union’s (Arbor Financial) 13-month CD Special (1.26% APY, $25k+; 1.00% APY, <$25k). While researching the 13-month CD Special, I discovered that Arbor Financial added a rewards checking account in August. The Momentum Checking account can earn 1%, 2%, or 4% on qualifying balances up to $15k, based on three levels of debit card purchase activity.

Qualifications

  • Monthly Direct Deposit of at least $500
  • Enrolled in eStatements
  • Monthly debit card purchases (MDCP)
    • 1% for 10-19 MDCP

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Arbor Financial CU Has No Penalty 13-Month CD Special
Availability: Residents of 21 southwest Michigan counties.

Arbor Financial Credit Union (Arbor Financial) is offering a 13-month CD Special with tiered APYs: 1.26% for deposits of $25k+ and 1.00% for deposits below $25k. While these rates may not be the most competitive, what makes this CD Special stands out is the no early withdrawal penalty feature.

According to CSR, there is no limit on the number of withdrawals and no minimum or maximum dollar amount that can be withdrawn. If the balance falls below $25k, the 1.00% APY...

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