Beacon Credit Union (VA/NC) Offers Competitive 48-Month CD


Availability: Residents of eight Virginia counties and two North Carolina counties.

Virginia-based Beacon Credit Union (Beacon CU) recently raised the rate on its 48-month Share Certificate (2.12% APY). The minimum deposit is $500, with no balance cap.

There have been 12 rate changes for the 48-month Share Certificate since it was added to the product line in January 2010, and the 2.12% APY is the highest rate since September 2010.

As stated on Beacon CU’s Deposit Rates page, the Early Withdrawal Penalty reads as follows:

For 48 month share certificates, the early withdrawal penalty
will increase to 365 days of dividends whether earned or not.

Choice Plus Checking

Beacon CU’s Choice Plus Checking currently earns 5.05% APY on qualifying balances up to $2.5k. Qualifying balances over $2.5k and non-qualifying balances both earn 0.10% APY. The minimum opening deposit is $100.

The monthly qualification requirements are as follows:

  • One direct deposit
  • Minimum balance of $300
  • Sign up for e-Statements
  • At least 15 debit card POS transactions


Headquartered in Lynchburg, Virginia, Beacon Credit Union’s field of membership is varied, including,

Virginia Residency - Individuals who live, work, worship, or attend school in the Virginia counties of Amherst, Appomattox, Bedford, Botetourt, Campbell, Roanoke, Rockbridge, Pittsylvania, and the Virginia cities and towns of Altavista, Appomattox, Bedford, Buena Vista, Danville, Lexington, Lynchburg, Roanoke, and Salem, are eligible to join.

North Carolina Residency - Individuals who live, work, worship, or attend school in the North Carolina counties of Caswell and Rockingham, and the North Carolina Cities of Eden and Reidsville, also qualify to join.

Affiliation Current members at the time of the community charter conversion of Credit Unions affiliated with the Virginia Credit Union League are eligible to join.

Relationship - Immediate family members (defined as related by blood, marriage, or adoption) of current members are eligible to join. Spouses of persons who died with the field of membership are also eligible.

Complete eligibility details are available on Beacon CU’s website.

Joining Beacon CU and/or opening the 48-month Share Certificate can be done at any of ten Virginia branches located in Big Island, Buena Vista, Danville (2) Glasgow, Lynchburg (4), Madison Heights. Beacon CU will also mail a new member information packet before joining. At this time, Beacon CU’s online banking platform is limited to account management and bill payment services.

Credit Union Overview

Beacon Credit Union (NCUA Charter # 66965) has an overall health grade of "B+" at, with a Texas ratio of 11.26% (above average), based on December 31, 2015 data. In the past year, Beacon Credit Union increased its total deposit by $18.87 Million, an excellent annual growth rate of 15.57%. Please refer to our financial overview of Beacon Credit Union for more details.

Beacon Credit Union was originally chartered in 1939 as the Virginia League Central Credit Union (League), an organization that functioned as a "central depository location where credit unions would be able to deposit excess funds." Prior to the 1952 opening of its first operating office, the League's offices and services were housed in the homes of the League Treasurers. The past 15 years has seen growth and changes for the Credit Union, including a new name and mergers with Big Island 1013 Federal Credit Union and Lynchburg Foundry Federal Credit Union. Beacon Credit Union currently has more than 26,500 members and assets in excess of $154 Million.

How the CD Compares

When compared to the 132 similar length-of-term CDs tracked by that require a similar minimum deposit and are available to residents of the Roanoke-Lynchburg, Virginia area, Beacon Credit Union's 48-month Share Certificate APY currently shares the top spot with Melrose Credit Union's 4-Year Share Certificate.

The above rates are accurate as of 3/17/2016.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table or our new Rates Map page.

Related Pages: Beacon Credit Union, Roanoke


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