Barksdale Federal Credit Union CD Rates Leap To Rate Leading Levels

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Deal Summary: Certificates – 6-month (2.78% APY), 12-month (2.99% APY), and 24-month (3.04% 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 14 months since I last wrote about Barksdale Federal Credit Union (BFCU) Certificates. At that time, all of BFCU Certificates were near-rate or rate leaders when compared to nationally available CDs. While almost every bank and credit union has been actively raising rates in the past few months, BFCU rates were just sitting on the bench. Following significant across-the-board rate increases over the weekend, BFCU Certificates are back in the game.

With the largest rate increases (112-128 bps), the 6-month (2.78% APY), 12-month (2.99% APY), and 24-month (3.04% APY) Certificates offer the most competitive rates. Any of the Certificates can be opened with a $1k minimum deposit, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.04%$1k-Barksdale Federal Credit Union24 Month Certificate
2.99%$1k-Barksdale Federal Credit Union12 Month Certificate
2.78%$1k-Barksdale Federal Credit Union6 Month Certificate
Rates as of September 27, 2022.

The 12- and 24-month Certificates are also offered as IRA Certificates (Traditional, Roth, CESA), earning the same APYs with the same deposit requirements.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.04%$1k-Barksdale Federal Credit Union24 Month IRA Certificate (Traditional, Roth, CESA)
2.99%$1k-Barksdale Federal Credit Union12 Month IRA Certificate (Traditional, Roth, CESA)
Rates as of September 27, 2022.

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

Funds must be on deposit in a BFCU Share Savings account in order for new members to fund a Certificate. Following the field of membership expansion, a long-time DA reader opened a BFCU Certificate 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.

BFCU participates in the CO-OP Shared Branch network, so transferring funds into a Share Savings account should be relatively simple.

Maturing funds will be distributed by check to the address on file, by wire, or transferred into a BFCU Share Savings account. There is a ten day grace period before a BFCU Certificate automatically renews.

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 field of membership (FOM) about two years ago. Like the FOMs of Navy Fed and Service Credit Union, BFCU’s FOM now includes current and former members of the US military (and their immediate family members) no matter where they live.

As stated on the Membership Eligibility page, US citizens/resident aliens are eligible to join BFCU if they,

Live, work, worship, attend school or own a business in Bossier, Caddo, Webster, Rapides, Allen or Grant Parish, Louisiana

Active military or civilian employees at Barksdale Air Force Base

Active military or civilian employees at Fort Polk Army Post

Honorably discharged or retired veterans who served in any of the Armed Services of the United States

An employee (full or part-time) at one of our 1000+ Select Employee Groups

A member of the immediate family or household of a current Barksdale Federal member or any person eligible for membership

Joining BFCU and/or opening a Certificate can be done online, with an “Open An Account” button at the top right of every page of the BFCU website.

Certificates can also be opened at any of the 22 Louisiana branches or the two Texas branches, both of which are in Longview.

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.

BFCU participates in the CO-OP Shared Branch network, but not the ATM network.

Credit Union Overview

Barksdale Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.56% (excellent) based on March 31, 2022 data. In the past year, Barksdale Federal has increased its total non-brokered deposits by $112.42 million, resulting in an excellent annual growth rate of 6.38%. 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 214th largest credit union in the country, BFCU currently has more than 157,000 members and assets in excess of $2 billion.

How the Certificates Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com which are available nationally and have minimum deposit requirements of $10k or less, no banks or credit unions have higher rates than currently offered on the Barksdale Federal Credit Union 6-month, 12-month, or 18-month Certificates. The following table compares the three Barksdale FCU Certificates to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 7/25/2022.

To look 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, IRA CD rates, nationwide deals

Comments
Joe73106
  |     |   Comment #1
I am a Barksdale member. I just went open a new certificate account. The rates shown are 1.51%, 1.71% and 1.92% for 6, 12 and 24 months, respectively.
alan1
  |     |   Comment #2
1. The yields cited in Ken Tumin's article have been posted all day on the Barksdale website.
see "Certificate Truth-In-Savings Disclosure" at p. 7 of PDF at https://www.bfcu.org/home/fiFiles/static/documents/RateSheetsCombined.pdf

see also https://www.bfcu.org/home/deposit-rates#cert-rates

2. I suspect Joe73106's problem occurred because he was using a vendor's account application opening form, that had not been updated to reflect the current rates.
The application form was subsequently updated to reflect Barksdale's rates.
Choice
  |     |   Comment #8
Alan, no cigar…DA is not posting the most timely info on FIs. The BIG example is it posted old outdated rates for NFCU yet did not post the 33 month special. Look at prior shortcomings Just facts..and as much as it may hurt, in only this regard, don’t guess
alan1
  |     |   Comment #9
I do not understand Comment #8, posted in response to my Comment #2. I wrote that the yields listed in Ken Tumin's article about Barksdale were accurate and up-to-date.

What relevance are rates about other institutions posted on depositaccounts.com?

I find no relevance in Comment #8 to either my comment about Barksdale's rates or Ken Tumin's article about Barksdale's rates.

Am I missing something about Comment #8 (whether or not I am eligible to receive a cigar)?

If anything I posted in Comment #2 is inaccurate, I welcome corrections. Thank you.
Joe73106
  |     |   Comment #10
Yes I see the updated rates now. Thanks alan1!
#3 - This comment has been removed for violating our comment policy.
Ltssharon
  |     |   Comment #4
Hi. When I opened a Barksdale account, I was NOT allowed to open it in the name of my trust. I WAS allowed to title the account in my name with 2 beneficiaries. So I was disappointed because I never ever heard of a place where I couldn't open an account and buy a cd in the name of my trust.
P_D
  |     |   Comment #5
I am surprised by your comment Ltssharon. In my experience the significant majority of banks and credit unions do not accept accounts titled in the name of a trust...particularly those small and midsize ones that allow online accounts from out of their brick and mortar service area (who often offer the highest rates). I am surprised you have not encountered any unless you have dealt with few banks or credit unions in the past and just got lucky.  And many fewer still accept irrevocable trusts.
kent
  |     |   Comment #6
I have been able to title accounts under my Living Trust as well with banks. Sometimes I find that if I follow up with a call, they will then say it can be titled in the trust. I think online applications, in general, are not trust friendly.  They typically are set up for the normal use case I think.  Good luck!
P_D
  |     |   Comment #7
It is common for medium size and smaller banks that have created separate divisions to do Internet banking to accept trust accounts at their local branches but not at their Internet bank divisions. So you have to visit a branch in person to open a trust account. I have seen very few Internet banks of this kind that allow accounts to be titled to a trust. In general I think the higher the rates an FI pays, the less likely it is to allow accounts titled to a trust. I've always surmised that this is related to their administration costs. The most efficient FIs can pay the highest rates and handling trust accounts is expensive. Same applies to IRAs (which is a form of trust). Many of these high rate payers don't offer those either.

So rate leader chasing is not a game for trust owners.

Some of them, however, do allow trusts to be named as beneficiaries which is something completely different.
Ltssharon
  |     |   Comment #11
So, because of this likelihood I am glad that I have kept trust account savings open at banks an credit unions even when my cds have matured. That way I think I can have trust cds at those places.
P_D
  |     |   Comment #12
Absolutely. Out of the dozens of trust accounts at banks I have opened over the years I have only closed a handful. I only close them if there is a good reason, otherwise keep them open. First it is difficult to find banks that accept trusts and also have decent rates, good service, features and experience (especially with trusts) and good financial stability. Second the administrative process to open trust accounts is more involved than other types of accounts and this reduces the time it takes to open new accounts. So I tend to keep accounts once they are opened even if I currently don't need them. "Living trusts" are more commonly accepted by banks and credit unions than irrevocable trusts, so finding such a home at one of these institutions for an irrevocable trust is like finding gold. I hang on to them even if not currently needed.
Ltssharon
  |     |   Comment #13
someday i may ask for a list of places that accept irrevocable trusts. I am looking to get out of estate taxes. My state has a 1 million dollar exemption from estate taxes. So, I need to figure something out or move and pay the hideous taxes on gains on the house I bought 30 years ago. But then again, one day even irrevocable trusts may be subject to estate taxes.
P_D
  |     |   Comment #14
Sounds like Massachusetts or Oregon. My sympathies, the estate tax thresholds there are relics from the Pleistocene.
Barksdale Federal CDs Continue To Be Competitive
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.)...

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Barksdale Federal Credit Union CDs Continue To Be Rate Leaders
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...

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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.

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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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