Baxter Credit Union (IL) is offering a 65-month CD (2.35% Rewards APY or 2.10% Regular APY). It can be opened with a minimum $500 deposit, with no maximum balance cap. The 65-month CD is also available as an IRA (Traditional, Roth and CESA) at the same rates. According to CSR, the Early Withdrawal Penalty is 270 days interest (approximately 9 months interest).
To qualify for the higher Rewards APY, certain relationship requirements must be met. As stated in Baxter Credit Union’s Disclosure page,
To qualify for a Rewards Rate Certificate Account, you must have two of the following relationships:
Direct deposit of at least $500 per month into a credit union checking account;
At least $25,000 on deposit;
Or a qualifying loan in good standing. Qualifying loans include: Mortgage, Home Equity, Auto, and Credit Cards.
Membership in Baxter Credit Union is open to those who live or work in the Illinois Counties of DuPage, Kane, Lake, McHenry, and Kenosha County, Wisconsin. In addition, those who live or work in the Village of Schaumberg or in portions of Cook County (north of 95th) are eligible for membership.
You can also qualify for membership if you work for any of 98 Select Employee Groups. For more detail, please refer to Baxter Credit Union’s Membership Eligibility Policy. (Note: a complete listing of the 98 SEGs is on the first page of Baxter Credit Union's online application, but that page is time sensitive and closes after a few minutes of inactivity.)
Joining Baxter Credit Union and opening a CD can be done online or at any of 38 branches located in Illinois (12), Arkansas, California (7), Florida, Indiana (2), Massachusetts (2), Minnesota (7), Mississippi, North Carolina, Ohio, Texas, and Puerto Rico (3).
Credit Union Overview
Baxter Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 6.13% (excellent) based on June 30, 2014 data. In the past year, Baxter Credit Union has increased its total deposit by $119.04 Million, an annual growth rate of 7.19% (excellent). Please refer to our financial overview of Baxter Credit Union for more details.
Baxter Credit Union was established in 1981, when a group of executives at Baxter decided to establish a new credit union for the convenience and financial well-being of their employees. (Baxter is a global, diversified healthcare company with annual sales of over $15 Billion). Today, with over $1 Billion in total assets and over 180,000 members, Baxter Credit Union is one of the nation’s top 100 credit unions and the fourth largest in Illinois.
How the Rate Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com, with a $500 minimum deposit, Baxter Credit Union’s 65-month Rewards CD is competitive.
|Interest Rate||CD Length||Institution|
|2.35% APY||65-month Rewards CD||Baxter Credit Union|
|2.25% APY||70-71 month Relationship CD Promo||Regions Bank|
|2.10% APY||65-month Regular CD||Baxter Credit Union|
|1.71% APY||60-month CD||USAlliance Credit Union|
These rates are accurate as of 10/6/2014.
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.