The autumnal equinox is two weeks away, and Iowa-based Bent River Community Credit Union (Bent River CCU) has announced their Fall 2016 promotion: a tiered-rate 38-month CD Special. The tiered APYs are as follows:
- 2.00% APY - $2.5k+
- 2.10% APY - $100k+
- 2.20% APY - $200k+
According to CSR, this is a limited-time offer (end date uncertain) and the Early Withdrawal Penalty is nine months interest.
Thanks to DA reader, Carpline, for his Forum post about Bent River CCU’s CD Special.
Headquartered in Davenport, Iowa, Bent River Community Credit Union membership is open to anyone who lives or works in the Iowa counties of Cedar, Clinton, or Scott.
Since I last wrote about Bent River CCU in September 2015, the field of membership (FOM) has narrowed: Muscatine County (Iowa) and Rock Island County (Illinois) are no longer included.
In addition, employees of Grain Processing, Muscatine Foods, and Kent Feeds have been removed from the FOM.
Family members of any eligible individual are also welcome to join Bent River Community Credit Union.
Membership is also open to employees and members of the following companies and organizations:
- Qwest Communications
- Any Catholic parishioner in the Davenport, Iowa Diocese
- Employees of any Catholic organization in the Davenport Diocese
Joining Bent River CCU and opening a CD must be in person at the sole Iowa branch located in Davenport.
Credit Union Overview
Bent River Community Credit Union (NCUA Charter # 62974) has an overall health grade of "C+" at DepositAccounts.com, with a Texas ratio of 3.09% (excellent), based on June 30, 2016 data. Bent River CCU has an excellent capitalization level (13.59%), a result of holding $20.5 million in assets with $2.78 million in equity. Please refer to our financial overview of Bent River Community Credit Union for more details.
Bent River Community Credit Union was established in 1935 as the Davenport Bell Credit Union. For nearly 60 years, the Credit Union remained a financial institution for telephone company employees in the Davenport district. A merger with Southeast Iowa Catholic Credit Union in 1993 led to an expansion in the field of membership and a new name, the Communications and Catholic Credit Union. A further merger with GPC Credit Union in 2008 allowed for further expansion. In 2001, a change to a community charter resulted in the current name, Bent River Community Credit Union.
In my seemingly endless supply of “collateral information” gathered as I research financial institutions, I discovered an interesting fact about the name, Bent River. The Quad Cities are located at the confluence of the Rock and Mississippi Rivers, and while the Mississippi River does bend as it snakes it way down to the Gulf of Mexico, the Quad Cities area is unique, as the Mississippi flows from east to west as it travels through the area.
How the CD Compares
When compared to the 225 similar length-of-term CDs tracked by DepositAccounts.com that are available to residents of the Quad Cities region, Bent River Community Credit Union’s 38-month CD Special ranks first, regardless of minimum deposit.
The above rates are accurate as of 9/9/2016.
To search for the best CD rates, both nationwide and state specific, please refer to the CD rates section of DepositAccounts.com or our Rates Map page.