Last February, Belco Community Credit Union’s (Belco) offered a 11-month CD Special (2.14% APY). A year later, Belco has added a 5-month CD Special earning 2.78% APY. This limited-time offering requires a minimum opening deposit is $500 of new money, with no stated balance cap.
As stated in the Truth-In- Savings disclosure, the Early Withdrawal Penalty (EWP) reads as follows:
Terms of 0-12 months, up to 90 days of interest.
Belco’s other current CD Special isn’t as competitive as the 5-month: a 13-month that earns 2.63% APY. The minimum opening deposit $1k of new money. The EWP is “up to 180 days of interest.”
Headquartered in Harrisburg, Pennsylvania, Belco Community Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, worship, attend school, or volunteer in the Pennsylvania counties of Adams, Cumberland, Dauphin, Lancaster, Lebanon, Perry, and York, eligible for membership.
Joining Belco and/or opening a Certificate Special can be done at any of 15 branches located in Camp Hill, Carlisle (2), Gettysburg, Hanover, Harrisburg (4), Lancaster (3), Lebanon, Mechanicsburg, and Newville.
The membership application is available for download to expedite the application process.
Credit Union Overview
Belco Community Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 8.93% (excellent) based on September 30, 2018 data. In the past year, Belco has increased its total non-brokered deposits by $2.57 million, an above average annual growth rate of 0.51%. Please refer to our financial overview of Belco Community Credit Union (NCUA Charter # 68256) for more details.
Belco Community Credit Union was originally chartered in 1939 as the Belco Federal Credit Union, with 25 Bell Telephone Company employees each contributing $5. At the end of two years of operation, the membership had grown to about 400 members. The Credit Union converted to a community charter in 2005 in order to expand its membership base. Belco is currently the 16th largest credit union in Pennsylvania, with more than 65,400 members and assets in excess of $610 million.
How the CD Special Compares
When compared to 238 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available within the FOM, Belco Community Credit Union's 5-month CD Special APY currently ranks second.
The above rates are accurate as of 2/22/2019.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.