Ardent Credit Union Ups Long-Term CD Rates
Ardent Credit Union (Ardent) recently raised the rates on its 48-month CD and 60-month CD to competitive levels. Following significant increases of 35 and 50 bps, the 48-month CD now earns 1.25 APY, with the 60-month CD earning 1.50% APY. The minimum opening deposit is only $100, with no stated balance cap.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 1.50% | $100 | - | Ardent Credit Union | 60 Month CD | |
| 1.25% | $100 | - | Ardent Credit Union | 48 Month CD |
Both CDs are offered as IRA CDs (Traditional, Roth), earning the same APYs with the same low $100 opening deposit.
As stated in the fine print on the Rates page, the Early Withdrawal Penalty reads as follows,
A SUBSTANTIAL PENALTY IS IMPOSED if certificate funds other than interest are withdrawn before the maturity date. The penalty is equal to the smaller of the following two amounts: interest since the date of issuance or renewal or an amount equal to 180 days of interest on the amount withdrawn.
The Credit Union reserves the right to require members to give, in writing, not more than 60 days notice of intention to withdraw the whole or any part of the amounts so paid in by them except for those amounts paid into Checking Accounts.
Availability
Headquartered in Philadelphia, Ardent Credit Union’s field of membership (FOM) is community-based, with individuals who live, work, worship, attend school, or volunteer in the southeast Pennsylvania counties of Bucks, Chester, Delaware, Montgomery, or Philadelphia, eligible to join.
Relatives of current Ardent CU members also qualify for membership. In this instance, relatives are defined as “parent, sibling, grandparent, spouse, child, grandchild, stepparent, stepchild or stepsibling.” Household members (any person sharing a residence as part of a single-family unit) are also eligible for membership.
Joining Ardent and/or opening a CD can be done online, or at any of six Pennsylvania branches located in Blue Bell, Philadelphia (3), Phoenixville, and Wayne. Note: access to two of the branch locations (the Philadelphia Navy Yard and Collegeville) is restricted to GSK employees only.
All Memberships are required to have an open Ardent Savings account
with a minimum balance of $5.00 to be a member in good standing.
If you’re considering joining by visiting a branch, the Membership Application is available for download.
Ardent members have access to more than 5,600 Shared Branches and 30,000 fee-free CO-OP ATMs.
We are part of a great Shared Branch community. With locations
everywhere you can always stay part of the Ardent Credit Union family.
Credit Union Overview
Ardent Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 1.81% (excellent), based on June 30, 2021 data. In the past year, Ardent has increased its total non-brokered deposits by $7.52 million, an above average annual growth rate of 1.05%. Please refer to our financial overview of Ardent Credit Union (NCUA Charter # 22637) for more details.
Ardent Credit Union was established in 1977 as the Sb1 Federal Credit Union for the benefit of GlaxoSmithKline employees. Ardent is currently Pennsylvania’s 16th largest credit union, with more than 36,600 members and assets in excess of $805 million. The Arden re-brand occurred five years ago, and according to a May 2016 CU Insight press release,
”Ardent is a name that’s about passion”, says Rob Werner, President/CEO of Sb1 Federal
Credit Union. “It reflects our spirit and drive to serve our members and connects us to our
proud Philadelphia roots. The name Ardent stands for everything banking should be—passionate, caring, and intensely devoted to the people we serve.
How the CDs Compare
When compared to the similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available within the FOM, Ardent Credit Union's 5-year CD APY currently ranks first.
When compared to the similar length-of-term CDs tracked by DepositAccounts.com, which require a minimum deposit of $10k or less and are available within the FOM, Ardent Credit Union's 4-year CD APY currently ranks third.
The above information and rates are accurate as of 12/3/2021.
To search for the best CD rates, both nationwide and state specific, please refer to the CD rates section of DepositAccounts.com.
