Aventa Credit Union (CO) Adds Rate-Leading 16-Month CD Special


Deal Summary: 16-month CD Special, 5.64% APY, $1k min/$250k max deposit, new money, limit of one per account.

Availability: Residents of nine south central Colorado counties.

In a recent Forum post (complete with very interesting comments), DA reader, solarado, noted that Aventa Credit Union (Aventa) is currently offering two CD Specials: 16-month (5.64% APY) and 9-month (4.59% APY). These limited-time CD Specials can be opened with a minimum $1k deposit and are capped at $250k. New money is required and “funds withdrawn from an existing certificate of deposit at Aventa Credit Union are ineligible.” There is a limit of one CD Special per account.

The CD Specials are “available to individual members, business accounts, and trust accounts, but not for IRAs.”

As I was reviewing my Aventa 2019 and 2021 blog posts in preparation for this blog post, I was reminded of the less-than-optimal interactions with Aventa’s call center. There continues to be no Truth-in-Savings disclosure on the Aventa website, so a phone call was necessary. I’ve never been able to accurately determine what the Early Withdrawal Penalty (EWP) is, but I optimistically thought “third time’s a charm.” So much for idioms.

Early Withdrawal Penalty

First of all, it is impossible to speak to a branch location: all phone calls go to the call center and you will not be transferred to a branch. Here’s how my conversation with CSR started out.

    Me – What is the EWP for the 9-month and 16-month CD Specials?

    CSR – 365 days of dividends.

    Me – A year of dividends on a 9-month CD?

    CSR – Oh … let me check.

    [nine minutes of hold time]

    CSR – The EWP is 50%.

    Me – 50% of what?

    CSR – Oh … let me check.

    [eight minutes of hold time]

    CSR – 50% of accrued dividends.

    Me – 50% of dividends on the amount being withdrawn or 50% of all accrued dividends?

    CSR – Yes, 50%.

After a few more minutes of going back and forth on the 50% issue, I couldn’t get a definitive answer. Bottom line, I don’t know what the EWP is, but I do know there is one.


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 of several Select Employer Groups (including Colorado Springs Utilities and Pueblo City) and members of several Partner Associations (including Aventa Foundation and Pikes Peak Art Council) also qualify for membership.

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

Account Opening

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

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

Opening a CD Special can be done at any of the above-mentioned branches, by phone (800.555.6665), or by submitting a “Contact Me” form.

Aventa joined the CO-OP Share Branch and ATM Network about ten 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.

Funding and Other Details

The following is from the conversation with CSR. After the difficulty in determining the EWP, I’m not 100% confident in this information, particularly since CSR started every sentence with “I believe.”

  • Funding – Wire ($40 fee), check, or shared branch transfer.
  • CO-OP Shared Branch Participant – Yes.
  • Dividends – Compounded/credited monthly and cannot be withdrawn penalty-free.
  • Maturing Funds – Internal transfer or cashier’s check.
  • Beneficiaries – Up to two, percentages can be assigned, Social Security numbers are not required.
  • Grace Period – 10 business days before automatic renewal.
  • Credit Check – Soft pull.

Credit Union Overview

Aventa Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 4.92% (excellent) based on December 31, 2022 data. In the past year, Aventa has increased its total non-brokered deposits by $11.67 million, an excellent annual growth rate of 5%. 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 35,000 members and assets in excess of $288 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 16-Month CD Special 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, no banks or credit unions have higher rates than the rate currently offered on the Aventa Credit Union 16-month CD Special. The following table compares the 16-month CD Special to the two highest-rate CDs from other banks and the two highest-rate CDs from credit unions.

The above information and rates are accurate as of 3/9/2023.

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

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

Previous Comments
  |     |   Comment #1
I am glad you found my comments in the forum post on AVenta to be "very interesting". :) Yeah, the reps are as dumb as dirt (as your conversation transcript describes), and even getting up to the VP or Operations doesn't result in less confusion. Their website clearly states that one can become a member by joining a local group (Pikes Peak Arts Council, or something) which only requires a $55 contribution to join. But as I kept inquiring about this (and getting those long hold times while buck-toothed back country CSR's tried to figure out what's what) everyone still insisted that their policy is not what their website says it is. An escalation up to the VP of Operations got a reasonably polite and seemingly informed person - who nevertheless would NOT address the question of why they won't let m join even though I meet the requirements they state and advertise on their own site. Instead of addressing that question, he just kept peppering me with questions of his own - "Why would you want to join a credit union where you don't live?" "How exactly would you be involved with the any of our approved qualifying associations?" All I could say was "I want to join your credit union and open accounts, and am happy to meet the requirements for membership that your website lays out." He just kept dodging the question. I finally told him our lawyers can sort it out if he won't. False advertising is a pretty serious offense.
  |     |   Comment #2
Let us know how the lawsuit unfolds.
  |     |   Comment #3
gregk -- This promises to rank with the Scopes trial as one of the great legal battles of American jurisprudential history. Our aggrieved investor already has multiple lawyers working on the case.

I hope the case is heard by courts in Colorado. Colorado jurists will be extremely impressed by a plaintiff who characterizes the credit union's employees as "dumb as dirt" and "buck-toothed back country" denizens. Perhaps the "dumb as dirt buck-toothed back country" rubes lack the sophistication, wit, and savoir faire of our plaintiff-investor, but I suspect they are way ahead when it comes to basic human decency.
  |     |   Comment #4
Not to mention the terms of this CD hardly warrant paying a lawyer to sue this "back country" credit union which probably has no experience with out-of-state depositors.
  |     |   Comment #5
I'm having Johnny Cochrane exhumed to run lead on this. How can we lose?
  |     |   Comment #6
FYI data point: opened a new savings account + CD in branch yesterday and received a hard inquiry on my TransUnion report. Didn't expect that. Don't know why they're doing hard inquiries for deposit accounts. Teller didn't seem experienced, so maybe she made a mistake?
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