Two months ago, I wrote about two long-term Jumbo Certificates offered by Atlanta Postal Credit Union (APCU). In the current changing rate climate, previously unimpressive rates are now competitive; such is the case with APCU’s 12- and 24-month Jumbo Certificates. The 12-month currently earns 1.10% APY, with the 24-month earning 1.30% APY. A minimum $100k deposit is required to earn the stated APYs. Both Jumbo Certificates are offered as Standard Certificates ($500 minimum), earning APYs 10 bps lower.
The Standard and Jumbo Certificates are also available as IRA Certificates (Traditional, Roth), earning the same APYs, with the Standard IRA requiring a higher $2k minimum deposit.
As stated in the Rate and Fee Schedule,, the Early Withdrawal Penalty reads as follows:
Terms of 1 year or more 180 days interest.
There is a 10-day grace period before a Standard or Jumbo Certificate automatically renews.
Headquartered in Atlanta, Georgia, Atlanta Postal Credit Union's field of membership (FOM) is varied, with residency and employment determining eligibility.
Individuals who live or work in Bibb, Bryan, Chatham, DeKalb, Effingham, Floyd, Fulton, Gwinnett, or Muscogee Counties in Georgia are eligible to join.
As you would imagine from APCU's name, 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.
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.
Joining APCU and/or opening a Jumbo Certificate can be done online. APCU has re-opened the majority of its Georgia branches, but the IBEW (Atlanta) and Asheville (NC) locations are closed to members until further notice.
As stated on APCU’s Locations page,
We will continue to accept appointments for services such as Member Service, Loans, and Specialized Accounts should you prefer to schedule your next visit to the branch to meet with an APCU representative.
Opening a Primary Savings Share Account with a minimum $5 deposit establishes an APCU membership.
APCU participates in both the CO-OP Shared Branch and ATM networks.
Credit Union Overview
Atlanta Postal Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 2.17% (excellent) based on March 31, 2020 data. In the past year, APCU has increased its total non-brokered deposits by $72.41 million, resulting in an excellent annual growth rate of 3.93%. 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 more than 100,000 members and assets 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 Jumbo Certificates Compare
When compared to 274 similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, Atlanta Postal Credit Union's 12-month Jumbo Certificate APY currently ranks second, regardless of minimum deposit requirements.
When compared to 258 similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, Atlanta Postal Credit Union's 24-month Jumbo Certificate APY currently ranks second, regardless of minimum deposit requirements.
The above rates are accurate as of 8/13/2020.
To search for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.