Aventa Credit Union (CO) Offers 18-Month Add-On CD (3.04% APY)

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Deal Summary: 18-month Ascent CD Special, 3.04% APY, $500 minimum deposit of new money, unlimited additional deposits.

Availability: Residents of nine south central Colorado counties.

The latest addition to the Aventa Credit Union (Aventa CU) product line is the 18-month Ascent CD Special (3.04% APY). This limited-time offer requires a minimum opening deposit of $500 of new money. Unlimited additional deposits are allowed throughout the term.

While the Ascent CD Special APY and add-on features are really good, I can’t say the same for Aventa CU’s customer service. After three frustrating phone calls and an unanswered email, I still don’t have definitive answers to some basic questions. (FYI – it was impossible to speak to a branch location: all phone calls go the a call center and they will not transfer you to a branch.)

There is an Account Agreement on Aventa CU’s website, but it’s filled with general legalese and doesn’t even mention Certificates. Here’s what I'm not sure about:

Early Withdrawal Penalty – I was told the EWP was 3%. When I asked “3% of what?”, I was told “That’s what’s listed on my sheet.” (3% just happens to be the dividend rate.) Another CSR said the EWP was “1 ½ years,” which seems extremely punitive. The third CSR didn’t know what an EWP was. I also don’t know if partial withdrawals are allowed, or if only an early closure is permitted.

Additional Deposits – I tried to confirmed the following statement from the landing page.

Reach your peak savings goal faster by ADDING ON
any amount at any time during the term of the CD

CSR #1 said any additional deposit needed to be at least $500 (coincidentally, $500 is the minimum opening deposit). CSR #2 stated there was no minimum or maximum dollar amount for additional deposits. CSR #3 wasn’t sure. All three CSRs agreed that unlimited deposits could be made at any time during the term.

All-in-all, a very frustrating and fruitless endeavor for me.

Availability

Headquartered in Colorado Springs, Aventa Credit Union’s field of membership (FOM) includes individuals who live or work in the Colorado counties of Alamosa, Chaffee, Custer, El Paso, Fremont, Huerfano, Pueblo, Saguache, or Teller.

Employees and volunteers of more than 50 Employer Groups and seven Partner Associations also qualify for membership.

Household members and relatives (parent, spouse, or child) of current Aventa CU members are welcome to apply.

Joining Aventa CU can be done online, or at any of six full-service Colorado branches located in Center, Colorado Springs (2), Crestone, Pueblo, and Saguache.

Opening an Ascent CD Special can be done at any of the above-mentioned branches, by phone (800.555.6665), or by email ([email protected]).

A Share Savings ($5 min) is required to establish your membership at Aventa Credit Union.

Aventa CU joined the CO-OP Share Branch and ATM Network about seven years ago.

With shared branching, credit unions from all over the country share facilities to give members thousands of convenient locations to perform transactions just as if they were in their home credit union.

Credit Union Overview

Aventa Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 2.29% (excellent) based on June 30, 2019 data. In the past year, Aventa CU has increased its total non-brokered deposits by $12.59 million, an excellent annual growth rate of 8.16%. Please refer to our financial overview of Aventa Credit Union (NCUA Charter # 62755) for more details.

Established in 1957 as the Colorado Springs Employees Credit Union, Aventa Credit Union is currently Colorado’s 17th largest credit union with more than 28,000 members and assets in excess of $199 million. The 2010 merger with Pueblo City Employees Federal Credit Union and the 2012 acquisition of Saguache County Credit Union helped the Credit Union maintain “a focus on the needs of municipal workers while seeing significant growth outside the city." It also prompted the Aventa rebrand.

According to a Credit Union Times article concerning the Saguache County CU acquisition,

In its weekend announcement, Aventa said it “has again absorbed a struggling financial institution in its continuing effort to keep credit union options alive in smaller Colorado communities.”

How the Ascent CD Special Compares

When compared to 180 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Aventa Credit Union's 18-month Ascent CD Special APY currently ranks first. The unlimited additional deposit feature only strengthens the CD’s competitiveness.

The above rates are accurate as of 9/6/2019.

To look for the best CD rates, either nationwide or state-specific, please refer to our CD Rates Table page.

Related Pages: Denver CD rates, Colorado Springs CD rates, 1-year CD rates

Comments
Hooked
Hooked   |     |   Comment #1
Sorry about the frustration, Ken. Really appreciate all the work you do.
John
John   |     |   Comment #2
Ken is the Man!
Biff
Biff   |     |   Comment #3
Yes, thank you for the warning. It's a red flag.
PLEA BARGAIN
PLEA BARGAIN   |     |   Comment #4
Not a good sign if their customer service is poorly trained.
Kelly
Kelly   |     |   Comment #5
It's asking for problems.
8503
8503   |     |   Comment #6
I've dealt with this credit union in person using it as a shared branch, and I wouldn't trust their CSRs to do anything even slightly complicated.
Mike
Mike   |     |   Comment #7
If Ken can't get a straight answer, what chance do we have?!
gregk
gregk   |     |   Comment #8
You think Ken's some celebrity likely to be treated differently than the rest of us when he makes inquiry of an FI?

If incompetent phone reps disqualified an FI from receiving our funds then no one could ever place money anywhere.
pgroove_fan
pgroove_fan   |     |   Comment #9
Yes, I absolutely think that Ken receives special/"celebrity" access to many FIs. Now and then, it is even written right here on DA that data for some table comes from a direct internal web link that the public cannot directly access.

I'm just glad that he uses this power/leverage to our collective benefit.
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