Barksdale Federal Credit Union CDs Continue To Be Rate Leaders

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Deal Summary: Certificates – 60-month (1.71% APY), 48-month (1.61% APY), 36-month (1.51% APY), 24-month (1.41% APY), 12-month (1.21% APY), $1k minimum deposit.

Availability: Nationwide with a military relationship and various other ways

It has been just over two months since I last wrote about the Certificates offered by Barksdale Federal Credit Union (Barksdale Federal). Rates have fallen, but their rates remain well above what other credit unions and banks currently offer. Barksdale Federal and its products may not technically be considered nationally available, but its field of membership is actually wider than you might think. Due to the relatively high rates and the wide availability, I thought a new blog post would be worthwhile.

Any of the Barksdale Federal Certificates can be opened with a $1k minimum deposit.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.71%$1k-Barksdale Federal Credit Union60 Month Certificate
1.61%$1k-Barksdale Federal Credit Union48 Month Certificate
1.51%$1k-Barksdale Federal Credit Union36 Month Certificate
1.41%$1k-Barksdale Federal Credit Union24 Month Certificate
1.21%$1k-Barksdale Federal Credit Union12 Month Certificate
Rates as of September 18, 2020.

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

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.71%$1k-Barksdale Federal Credit Union60 Month IRA Certificate (Traditional, Roth, CESA)
1.61%$1k-Barksdale Federal Credit Union48 Month IRA Certificate (Traditional, Roth, CESA)
1.51%$1k-Barksdale Federal Credit Union36 Month IRA Certificate (Traditional, Roth, CESA)
1.41%$1k-Barksdale Federal Credit Union24 Month IRA Certificate (Traditional, Roth, CESA)
1.21%$1k-Barksdale Federal Credit Union12 Month IRA Certificate (Traditional, Roth, CESA)
Rates as of September 18, 2020.

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

Plus Point Certificates

Barksdale Federal must have realized that their Plus Point Certificates were too good of a deal. The rate premium over the standard Certificates has fallen from 20 to 10 basis points. The 5-year Plus Point Certificate rate is now only 1.81% APY. The previous rate (2.12% APY) had been the only nationally available 2% CD.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.81%$1k-Barksdale Federal Credit Union60 Month Plus Point Certificate
1.71%$1k-Barksdale Federal Credit Union48 Month Plus Point Certificate
1.61%$1k-Barksdale Federal Credit Union36 Month Plus Point Certificate
1.51%$1k-Barksdale Federal Credit Union24 Month Plus Point Certificate
1.31%$1k-Barksdale Federal Credit Union12 Month Plus Point Certificate
Rates as of September 18, 2020.

Barksdale Federal’s Plus Point Certificates require that you open five Certificates with terms from one to five years as if you were starting a 5-year 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.

As DA reader Anon456 noted in the comments of the last Barksdale post, they “do require $1,000 each for the 5 year ladder, but you can do more and they do not have to be equal. You can do higher amounts in any of them and they do not have to match the others, as long as you do the minimum $1000 in each.” For example, you could fund the 1-, 2-, 3- and 4-year Certificates with $1k each and the 5-year Certificate with $200k.

High Yield Savings and Christmas Club Savings

If you join Barksdale Federal for the CDs, you might want to consider opening the High Yield Savings account and the Christmas Club Savings account. Both currently have a very high rate relative to other liquid accounts. The caveat is that the high rate only applies to balances up to $5k. Due to this maximum balance, it probably won’t be worth joining Barksdale Federal for these accounts, but if you’re joining for the CDs, there’s little reason not to open these accounts with a combined $10k deposit. If this rate holds, you’ll earn about $150 in a year, which is about $50 more than you would earn in a top online savings account.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.51*%-$5kBarksdale Federal Credit UnionHigh Yield Savings
OTHER TIERS: 0.25% $5k+
1.50%--Barksdale Federal Credit UnionChristmas Club
Rates as of September 18, 2020.

Availability

Headquartered in Bossier City, Louisiana, Barksdale Federal Credit Union's field of membership (FOM) has expanded this year, and like Navy Fed and Service Credit Union, former members of the US military (and their immediate family) are now eligible to join. 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 recently opened a Barksdale Federal CD 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 relatively easy.

CDs can also be opened at any of the 25 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 2.73% (excellent) based on June 30, 2020 data. In the past year, Barksdale Federal has increased its total non-brokered deposits by $234 million, an excellent annual growth rate of 18.83%. 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 215th largest credit union in the country, Barksdale Federal Credit Union has more than 138,000 members and assets in excess of $1.6 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, all of Barksdale Federal Credit Union's Certificate APYs currently rank first. Only the 12-month and 60-month Certificates are compared below.

Interest RateCD Length of TermCredit Union/Bank
1.21% APY12-Month Certificate ($1k min)Barksdale Federal Credit Union
1.05% APY12-Month CD Special ($100k min)Veridian Credit Union
1.01% APY14-Month Certificate Special ($500 min)Financial Resources FCU
0.85% APY12-Month CD ($500 min)Marcus by Goldman Sachs

Interest RateCD Length of TermCredit Union/Bank
1.71% APY60-Month Certificate ($1k min)Barksdale Federal Credit Union
1.50% APY60-Month Share Certificate ($500 min)Service Credit Union
1.50% APY5-Year Promotional CD ($10k min)The Federal Savings Bank
1.00% APY5-Year CD (no min)Ally Bank

The above rates are accurate as of 9/17/2020.

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

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

Comments
RodBlack
  |     |   Comment #1
are there creative ways or organizations you can join to qualify for membership?
me1004
  |     |   Comment #2
Similar question, is there any organization or association to join to qualify, as opposed to being their employee? I am expecting the answer is"no," since Ken did not mention any. I find nolist of thepalces at Barksdall Website, it simply says there are more than 1,000 of them -- although it does say you must be an employee of them. But I have seen at other places saying that, but they tell you simply joining that associations is sufficient.

I don't have the military background for myself, but just to try to get my father's will cost $70 just for them to look. I can't use my first cousin's, that is not "immediate" family. And how do I show that someone is my father or other "immediate" relative anyway? At least my father had the same surname, but that isn't always the case and it could simply make them a cousin. I have nothing to show who my father is, that kind of information is not on my birth certificate. And I gather you must show the discharge papers, not something else, as they must have had an honorable discharge.

Sure wish I could get into Barksdale.
alan1
  |     |   Comment #4
me1004 wrote: " I find nolist of thepalces at Barksdall Website, it simply says there are more than 1,000 of them"

There are three possible solutions to resolve me1004's difficulty:

1. consult an ophthalmologist and then return to the Barksdale website and find the list.
2. go to the Barksdale website and find the list by initiating their application process.
3. expedite things by clicking on the link below that's part of the application process and look at the list under "Tell us how you qualify for membership"

https://app.loanspq.com/xa/xpressApp.aspx?enc=Kw21Wblm1yxpjJabdoZaDxhH49fUCrQ70W1j4js5yeBtryD42XJbpd...
Rosedala
  |     |   Comment #3
Strange, I just saw 9 comments and I added mine but was interrupted by having to login or register, then looking for message to copy it first, I clicked on something and got this page with only 2 messages. What happened? Thanks.

P.S. I hoped that when the system interrupts writing a message, it would keep it so on logging in one wouldn't have to write it again...
Barksdale Federal CDs Available Nationwide (Military Relationship)
Deal Summary: Certificates – 60-month (1.92% APY), 48-month (1.71% APY), 36-month (1.61% APY), 24-month (1.51% APY), 12-month (1.26% 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 only been a month since I wrote about the Certificates offered by Barksdale Federal Credit Union (Barksdale Federal), but the recent change in the field of membership (FOM) has widen both the availability and appeal of the Certificates. I discuss the...

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Barksdale Federal Credit Union (LA) Has Top Rate CDs
Deal Summary: Certificates – 60-month (2.17% APY), 48-month (2.02% APY), 36-month (1.87% APY), 24-month (1.76% APY), 12-month (1.51% APY), $1k minimum deposit.

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

When I decided to write about Barksdale Federal Credit Union (Barksdale Federal), my focus was going to be on the 48-month Certificate. A closer look at the Certificate product line revealed the competitiveness of all the Certificate, with Barksdale Federal offering the best 4- and 5-year CD...

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Top CD and IRA CD Rates at Barksdale FCU in Louisiana - Local Only

Barksdale Federal Credit Union is offering several competitive CD and IRA CD rates. Minimum deposit is $1,000. The following yields are listed in the credit union's share account rates page as of 12/06/2010:

  • 3.04% APY 5-year CD & IRA CD
  • 2.89% APY 4-year CD & IRA CD
  • 2.43% APY 3-year CD & IRA CD
  • 2.12% APY 2-year CD & IRA CD
  • 1.61% APY 1-year CD & IRA CD

As a comparison to internet banks, the best 1-year CD rate is 1.50% APY at CNB Bank Direct and the best 5-year CD rate is 2.60% APY at...

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