Aventa Credit Union (CO) Boosts 24-Month CD Rate

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Deal Summary: 24-month CD, 1.26% APY, $500 minimum deposit.

Availability: Residents of nine south central Colorado counties.

Aventa Credit Union (Aventa CU) began the month by adding 56 bps to its 24-month CD. The current 1.26% APY is the highest rate for the 24-month CD in the past twelve months. The minimum opening deposit is $500, with no stated balance cap. There is a 24-month Jumbo CD requiring a $50k minimum deposit, but the rate is the same 1.26% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
0.65%$500$50kAventa Credit Union24 Month CD
0.65%$50k-Aventa Credit Union24 Month Jumbo CD
0.65%$500$50kAventa Credit Union24 Month IRA (Traditional, Roth, CESA)
0.65%$50k-Aventa Credit Union24 Month Jumbo IRA (Traditional, Roth, CESA)
Rates as of June 15, 2021.

The 24-month CD and Jumbo CD are available as IRA CDs (Traditional, Roth, CESA), earning the same APY with the same deposit requirements.

In a September 2019 blog post, I chronicled my frustrating experience with Aventa CU’s customer service; my phone calls to Aventa CU’s call center yesterday were no less exasperating. There is no Truth-in-Savings disclosure detailing the Early Withdrawal Penalty (EWP) listed on Aventa CU’s website, and after three phone calls, I’m still uncertain as to exactly what the EWP is. Here’s what I was told:

CSR #1 – the EWP is all the dividends that would have been earned.

CSR #2 – the EWP is all the dividends that have been earned.

While both CSR #1 and #2 stated that partial withdrawal are permitted, they couldn’t tell me if the EWP applies to the amount being withdrawn or to the total balance.

I had difficulty understanding CSR #3. When I asked her to clarify if she had said “dividends that WOULD have been earned, or dividends that HAVE been earned,” she replied, “Yes.” I then asked if she could give me an example. “If you withdrew $5,000 after one year, you would lose dividends.” Bottom line, I don’t know what the EWP is. (FYI – it was impossible to speak to a branch location: all phone calls go to the call center and you will not be transferred to a branch, no matter how nicely you ask.)

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 members (current and past) of 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. The lobbies of the Center, Colorado Springs, Crestone, and Pueblo branches re-opened to walk-in traffic on March 1, 2021, with appointments available. The Saguache branch remains temporarily closed.

Opening a CD 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 eight 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 3.21% (excellent) based on December 31, 2021 data. In the past year, Aventa CU has increased its total non-brokered deposits by $30.46 million, an excellent annual growth rate of 16.62%. 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 31,000 members and assets in excess of $244 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 CD Compares

When compared to 227 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 24-month CD APY currently ranks first.

The above information and rates are accurate as of 3/11/2021.

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, 5-year CD rates

Comments
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