Atlanta Postal Credit Union (GA) Boosts 24-Month Jumbo CD Rate

Atlanta Postal Credit Union (APCU) has substantially raised the rates on its 24-month Certificate and Jumbo Certificate. Following a 150-bps rate increase, the 24-month Certificate ($500 minimum) and Jumbo Certificate ($100k minimum) now offering 5.00% APY and 5.10% APY, respectively.

The 24-month Certificate and Jumbo Certificate are also available as IRA Certificates (Traditional, Roth), earning the same APYs with the same deposit requirements.

As stated in the Certificate Rate and Fee Schedule, the Early Withdrawal Penalty reads as follows:

Terms of 1 year or more 180 days interest.

The penalty is calculated as a forfeiture of part of the interest that has been or would be earned on the account. It applies whether or not the interest has been earned. In other words, if the account has not yet earned enough interest or if the interest has already been paid, the penalty will be deducted from the principal.

Availability

Headquartered in Atlanta, Georgia, Atlanta Postal Credit Union's field of membership (FOM) is varied, with residency and employment determining eligibility.

Residency: Individuals who live or work in the Georgia counties of Bibb, Bryan, Chatham, Clayton, DeKalb, Effingham, Floyd, Fulton, Gwinnett, Henry, Jasper, Muscogee, Newton, Rockdale, or Walton are eligible to join. Since my last APCU blog post in September 2022, six Georgia counties have been added to the FOM.

Employment: As the APCU name implies, the United States Postal Service (USPS) is featured prominently in the FOM, with employees, retirees, and members of 11 organizations associated with the USPS qualifying for membership. Some of the organizations included in the FOM are USPS, National Rural Letter Carriers, United Postmasters and Managers of America, and National Association of Retired Postal Inspectors.

Employees and members of more than 40 other companies, organizations, and associations are eligible for membership. A complete list can be found on APCU’s Membership page.

Family Relationship: Individuals who are related by blood, marriage, or adoption, or individuals who in the same household with someone who is membership-eligible or already an APCU member are welcome to apply. Spouses, siblings, parents, children, grandchildren, grandparents, aunts, uncles, nieces, nephews, and in-laws of a current APCU all qualify for membership.

Account Opening

Joining APCU and/or opening a 24-month Certificate or Jumbo Certificate can be done online, by phone (800) 849-8431, or at any of the nine full-service Georgia branches located in Atlanta (2), Columbus, Decatur (2), Duluth, Macon, Rome, and Savannah. APCU also has a branch in Asheville, North Carolina on Brevard Road.

Center Parc Credit Union is a division of APCU, with APCU members able to conduct APCU transactions and business at any of five Center Parc Credit Union branches located in Atlanta (2), Pooler, and Savannah (2).

Opening a Primary Savings Share Account with a minimum $5 deposit establishes an APCU membership.

Funding and Other Details

The following information was obtained from the TIS and a conversation with CSR.

• Funding – ACH, wire (no fee), check (in-branch only), internal transfer, shared branch transaction.
• Ownership – Individual, joint, or trust.
• CO-OP Shared Branch Participant – Yes.
• Dividends – Compounded daily/credited monthly or quarterly (your choice) and can be paid out by check or transferred to an APCU savings/checking account.
• Maturing Funds – Wire ($20), cashier’s check, or internal transfer to an APCU savings/checking account.
• Beneficiaries* – Unlimited with percentages assigned, Social Security numbers required.
• Grace Period – 10 calendar days before automatic renewal.
• Credit Check – Soft pull when joining. No credit check for existing members opening a CD.

*Beneficiaries can be added (or removed) using the Account Change Request form. A completed Account Change Request form can be returned by email ([email protected]), by snail mail (3900 Crown Rd., Atlanta, GA 30380), or in person at any branch locations.

Credit Union Overview

Atlanta Postal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.55% (excellent) based on December 31, 2022 data. APCU has an excellent capitalization level (11.07%), the result of holding $2.51 billion in assets with $277.72 million in equity. Please refer to our financial overview of Atlanta Postal Credit Union (NCUA Charter # 67389) for more details.

Atlanta Postal Credit Union is currently Georgia’s fourth largest credit union, with nearly 104,500 members and deposits in excess of $2.2 billion. APCU is also Georgia’s oldest credit union.

In 1922, Atlanta Post Office employee Claude M. Harrell read an article in Colliers Magazine about Boston businessman and philanthropist Edward Filene and his establishment of a new kind of cooperative financial institution: the credit union. Mr. Harrell believed a credit union's emphasis on people helping people could help improve the financial well-being of postal employees in Georgia. He led the effort to gain legislative support for the necessary laws that would allow the establishment of a not-for-profit financial institution. In 1925, the laws passed and APCU was chartered.

How the 24-Month Jumbo Certificate Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, one bank and two credit unions have higher rates than offered on the Atlanta Postal Credit Union 24-month Jumbo Certificate, regardless of minimum deposit requirements. The following table compares the 24-month Jumbo Certificate 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 4/28/2023.

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