Associated Credit Union (GA) 19-Month CD Promo Has Near Rate-Leading APY

It is not unusual for credit unions or banks to mark occasions or celebrate anniversaries by offering competitive rates or products, but the circumstance that inspired Associated Credit Union (ACU) to offer its 19-Month CD Promo is definitely unique.

Our favorite All-American, Georgia tight end, #19 Brock Bowers, won his
second National Championship. His back-to-back wins are a win-win for you.

The “win-win” includes a near rate-leading 5.90% APY and a one-time rate increase any time throughout the term. The limited-time 19-Month CD Promo can be opened with a $500 minimum deposit, with no stated balance cap.

As stated in the fine print of the landing page,

During the term, you are permitted to request a one-time bump of your rate should
a higher rate become available for the 24-month CD rate at the time of the request.

Early Withdrawal Penalty

As stated on the Certificates of Deposit Rates page, the Early Withdrawal Penalty (EWP) reads as follows:

If funds other than interest are withdrawn prior to maturity, a penalty is imposed.

For terms less than one year 30 days of interest earned or that could have been earned will be forfeited.

For terms of one year or more 90 days of interest earned or that could have been earned is forfeited.

According to CSR, partial withdrawals are allowed. Should a withdrawal occur within the first 90 days following account opening, the principal will be reduced.

Availability

Headquartered in Norcross, Georgia, Associated Credit Union’s field of membership (FOM) is open to U.S. citizens/resident aliens who either live or work in Georgia.

Employees of more than 650 Member Companies (SEGs) also qualify for ACU membership. The Member Companies include many federal, state, and local government agencies, as well as several well-known hotel chains, manufacturers, and hospitals.

As stated on the “Can anyone join the credit union?” page, individuals who meet one of the following requirements are eligible to join.

• Members of the Armed Forces on active duty, inactive reserve status, or retired from such services.
• Employees of the Federal Government and Federal non-appropriated fund instrumentalities.
• Employees of the Federal Reserve Bank.
• Employees of the Federal Home Loan Bank and Federal Home Loan Mortgage Corporation.
• Employees of Federal Deposit Insurance Corporation.

Family members of ACU employees and current ACU members also qualify for membership. Family members is defined as “spouses, domestic partners, children, parents, brothers, sisters, grandparents, grandchildren, aunts, uncles, cousins, nieces, nephews, step-relatives, and in-laws.”

Account Opening

Joining ACU and/or opening a 19-Month CD Promo can be done online, by phone (770-448-8200, ext. 2394), or at any of the 18 Georgia branches, located in Atlanta (5), Augusta, Carrollton, Chamblee, Dawsonville, Decatur, Ellenwood, Evans, Lawrenceville, (2), Marietta, Norcross (2), and Oakwood. Appointments are available and can be scheduled online.

A basic Savings Account that every new and current ACU member opens upon joining. In addition to the [$5] Minimum Deposit, a one-time $5.00 Membership Fee is required to open a Membership account at Associated Credit Union.

Funding and Other Details

The following information is from the ACU website and a conversation with CSR.

• Funding – ACH, wire, shared branch transaction, or internal transfer.
• Ownership – Individual, joint, or trust.
• CO-OP Shared Branch Participant – Yes.
• Dividends – Compounded/credited quarterly; can be withdrawn penalty-free.
• Maturing Funds – Internal transfer to an ACU Share Account.
• Beneficiaries – Unlimited and percentages can be assigned; Social Security numbers are required.
• Grace Period –10 calendar days before automatic renewal. “At maturity, the 19-month CD will renew into a 24-month CD.”
• Credit Check – Soft pull through Experian.

Bank Overview

Associated Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 1.79% (excellent), based on June 30, 2023 data. In the past year, ACU’s total non-brokered deposits decreased by -$45.16 million, an average annual growth rate of -2.39%. Please refer to our financial overview of Associated Credit Union (NCUA Charter # 60484) for more details.

Established in 1930, Associated Credit Union is the second oldest credit union in Georgia and seventh oldest credit union in the country. ACU’s founding members were eight federal employees who each deposited $5 (about $92 in 2023 dollars). Rapid initial growth (membership and deposits) allowed ACU to offer loans at the start of the Great Depression, while larger local banks stopped lending money. Currently the fifth largest credit union headquartered in Georgia, ACU has more than 158,000 members and assets in excess of $2.1 billion.

How the 19-Month CD Promo Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM and have minimum deposit requirements of $10k or less, one credit union has a higher rate than currently offered on the Associated Credit Union 19-Month CD Promo. The following table compares the 19-Month CD Promo to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 10/31/2023.

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