Barksdale Federal CDs Continue To Be Competitive

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Deal Summary: Certificates – 60-month (1.45 APY), 48-month (1.20% APY), 36-month (1.10% APY), 24-month (0.90% APY), 12-month (0.70% APY), $1k minimum deposit.

Availability: Nationwide with a military relationship; residents of six NW Louisiana parishes; active military and civilian employees at Barksdale Airforce Base; more than 1,000 SEGs.

It’s been almost a year since Barksdale Federal Credit Union (Barksdale Federal) significantly increased the scope of its field of membership (FOM). (I discuss that change in detail in the Availability section below, but simply put, prior military service qualifies for membership.) At the time of the FOM expansion, all of Barksdale Federal’s Certificates were rate leaders when compared to nationally available CDs.

Even though all the Certificates currently have APYs that are about 35-50 bps lower than when I wrote about them in September 2020, they are all quite competitive. Any of the Certificates can be opened with a $1k minimum deposit.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.45%$1k-Barksdale Federal Credit Union60 Month Certificate
1.20%$1k-Barksdale Federal Credit Union48 Month Certificate
1.10%$1k-Barksdale Federal Credit Union36 Month Certificate
0.90%$1k-Barksdale Federal Credit Union24 Month Certificate
0.70%$1k-Barksdale Federal Credit Union12 Month Certificate
Rates as of September 21, 2021.

All the Certificates are also offered as IRA Certificates (Traditional, Roth, CESA), earning the same APYs with the same deposit requirements.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.45%$1k-Barksdale Federal Credit Union60 Month IRA Certificate (Traditional, Roth, CESA)
1.20%$1k-Barksdale Federal Credit Union48 Month IRA Certificate (Traditional, Roth, CESA)
1.10%$1k-Barksdale Federal Credit Union36 Month IRA Certificate (Traditional, Roth, CESA)
0.90%$1k-Barksdale Federal Credit Union24 Month IRA Certificate (Traditional, Roth, CESA)
0.70%$1k-Barksdale Federal Credit Union12 Month IRA Certificate (Traditional, Roth, CESA)
Rates as of September 21, 2021.

As stated in the Truth-in-Savings disclosure, the Early Withdrawal Penalty reads as follows:

Terms of 12 months or less – 90 days’ dividends

Terms of longer than 12 months – 180 days’ dividends

High Yield Savings and Christmas Club Savings

If you’re going to open a CD, you might want to consider opening Barksdale Federal's High Yield Savings account and Christmas Club Savings account. Both accounts currently have very high rates when compared to other liquid accounts, but the high rates only apply to balances up to $5k. Due to the low balance caps, it probably wouldn’t be worth joining Barksdale Federal just for these accounts, but if you’re joining for a CD, there’s no reason not to open these accounts with a combined $10k deposit. If the rates hold, you’ll earn about $125 in a year, which is approximately $55 more than you would currently earn with a $10k deposit in a top online savings account.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.50%--Barksdale Federal Credit UnionChristmas Club
1.00*%-$5kBarksdale Federal Credit UnionHigh Yield Savings
OTHER TIERS: 0.25% $5k+
Rates as of September 21, 2021.

Plus Point Certificates

Barksdale Federal’s Plus Point Certificates/IRA Certificates no longer earn APYs 20 bps higher than the standard Certificates/IRA Certificates; the Plus Point rates now mirror that of the regular Certificates. The Plus Point Certificates are Barksdale Federal’s version of a CD ladder: five Certificates (one for each term) must be opened at the same time with a $1k minimum deposit.

With a Plus Point Certificate you stagger your money into each available term. Once each certificate matures, your money plus the interest earned is available to you again for spending or additional investing options.

Availability

Headquartered in Bossier City, Louisiana, Barksdale Federal Credit Union significantly expanded its FOM about ten months ago. Like the FOMs of Navy Fed and Service Credit Union, Barksdale FCU’s FOM now makes current and former members of the US military (and their immediate family members) eligible for membership.

As stated on the online application, those who qualify for membership now include,

Honorably discharged or retired veterans or immediate family members who served in a branch of the Armed Services of the United States.

Others who qualify for membership include individuals who live, work worship, attend school, or own a business in the Louisiana parishes of Allen, Bossier, Caddo, Grant, Rapides, or Webster.

Active military and civilian employees at Barksdale Airforce Base or Fort Polk Army Base also qualify for membership.

Employees of more than 1,000 Select Employee Groups (SEG) in twelve Louisiana parishes and Gregg County, Texas, are eligible to join. (A list of all SEGs can be found on the first page of the online application.)

Immediate family members of a current Barksdale Federal member or any one eligible for membership, are welcome to apply.

Joining Barksdale Federal and/or opening a Certificate can be done online. A long-time DA reader opened a Barksdale Federal CD soon after the FOM expansion and shared his experience with me.

Yes, I did the online [application]. They do not do funding immediately .... took about 5-10 days for my initial share to fund, and they will not allow initial CDs to be funded. You have to get funds into the [savings] share first.

Barksdale Federal participates in the CO-OP Shared Branch network so transferring funds in a savings share account should be theoretically simple.

CDs can also be opened at any of the 21 Louisiana branches or the two Texas branches.

Our lobbies are open with limited occupancy. If you would like to make a lobby appointment for a loan or new account opening, please fill out the lobby appointment form.

Opening a Prime Savings account with a minimum $10 deposit ($5 one-time membership fee and $5 savings deposit) establishes a Barksdale Federal membership.

Credit Union Overview

Barksdale Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.10% (excellent) based on December 31, 2020 data. In the past year, Barksdale Federal has increased its total non-brokered deposits by $356.83 million, resulting in an excellent annual growth rate of 27.63%. Please refer to our financial overview of Barksdale Federal Credit Union (NCUA Charter # 9589) for more details.

Founded in 1954, Barksdale Federal Credit Union’s original FOM was exclusive to the military and civilian personnel at Barksdale Air Force Base in Bossier City, Louisiana. As the largest credit union in Louisiana and the 201st largest credit union in the country, Barksdale Federal Credit Union has more than 145,000 members and assets in excess of $1.8 billion.

How the Certificates Compare

When compared to the nationally available similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit, of Barksdale Federal Credit Union's 24-, 48-, and 60-month Certificate APYs currently rank first.

When compared to the nationally available similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit, of Barksdale Federal Credit Union's 12- and 36-month Certificate APYs currently rank second.

The above information and rates are accurate as of 5/10/2021.

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

Related Pages: Shreveport savings accounts, Monroe savings accounts, Lake Charles savings accounts, Alexandria savings accounts, Tyler savings accounts, savings accounts, 1-year CD rates, 5-year CD rates, IRA CD rates, nationwide deals

Comments
Barksdale Federal Credit Union CDs Continue To Be Rate Leaders
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