Since the beginning of the year, Bayer Heritage Federal Credit Union (Bayer Heritage) has been offering a rate of 1.51% APY on its 12-23 Month Share Certificate. The minimum deposit is $500, with no stated balance cap. 1.51% APY is the highest Share Certificate rate currently available at Bayer Heritage and also happens to be the rate offered on the 60-month Share Certificate.
|3.04%||$500||-||Bayer Heritage Federal Credit Union||12 - 23 Month Share Certificate|
|3.04%||$500||-||Bayer Heritage Federal Credit Union||12 - 23 Month IRA Certificate (Traditional, CESA, Roth)|
The Share Certificate is also offered as an IRA (Traditional, CESA, and Roth), earning the same APY with the same deposit requirements.
As stated on the Dividends Rate page, the Early Withdrawal Penalty for an account with a maturity of 12 months reads as follows:
Earned dividend on total certificate principal or three month’s dividends on the amount withdrawn. Whichever is less.
Headquartered in Proctor, West Virginia, Bayer Heritage Federal Credit Union’s field of membership (FOM) offers a variety of ways to join, with individuals meeting any of the following requirements eligible for membership.
Employment: Employees of Bayer Corporation specifically named in the Bayer Heritage Charter.
Residency: Individuals who live, work, worship or attend school in Tyler or Wetzel Counties, West Virginia or Monroe County, Ohio; or in specific areas of Marshall County, West Virginia; Belmont, Licking, or Muskingum Counties, Ohio; Berkley or Charleston Counties, South Carolina.
Relationship: Immediate family of current Bayer Heritage members.
Complete membership details can be found on Bayer Heritage’s Eligibility Requirements page.
Joining Bayer Heritage and/or opening a Share Certificate can be done online.
It's easy to become a member! Just open a Share Account with a $5.00 deposit.
For the latest on the COVID-19 temporary branch closures and safety precautions, please refer to Bayer Heritage’s Branch Updates page.
Bayer Heritage participates in both the CO-OP Shared Branch and ATM networks.
Credit Union Overview
Bayer Heritage Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 8.38% (excellent) based on December 31, 2019 data. In the past year, Bayer Heritage has increased its total non-brokered deposits by $14.45 million, an excellent annual growth rate of 3.26%. Please refer to our financial overview of Bayer Heritage Federal Credit Union (NCUA Charter # 11836) for more details.
Bayer Heritage Federal Credit Union was founded in 1957 in Proctor, West Virginia, as the Mobay Employees Federal Credit. (Mobay Chemical Corporation was a joint venture between Monsanto Company and Bayer.) Between 1973 and 1981, additional branches were opened in Texas, Pennsylvania, and South Carolina to accommodate Mobay employees in those states. In 2007, the name was changed to Bayer Heritage Federal Credit Union, "In recognition of the past and preparation for the future." Bayer Heritage is currently the largest credit union headquartered in West Virginia, with more than 35,100 members and assets in excess of $511 million.
How the Share Certificate Compares
As Bayer Heritage’s FOM includes several states, a comparison to nationally available CDs seems appropriate. When compared to 189 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationwide, Bayer Heritage Federal Credit Union's 12-23 Month Share Certificate APY* currently ranks first.
The above rates are accurate as of 7/6/2020.
To look for the best CD rates, both nationwide and state-specific, please refer to our CD Rates Table page.
*We continue to work to keep our rates up-to-date, but there have been just too many rate cuts for us to process quickly. For the time being, please be aware that the rates listed at DepositAccounts.com may not reflect the latest rates published by the banks and credit unions.