Thanks to the DA reader who informed me about this Black Friday CD special available at BHCU (formerly Boeing Helicopters Credit Union). CD specials have been rare this year, so it’s nice to see this Black Friday CD special even though it isn’t widely available and there is a small maximum deposit.
Available on November 27, 2020 only, the 6-month Certificate offers two rates: 2.70% APY or 5.38% APY. The 6-month Certificate requires a $500 minimum opening deposit, with a balance cap of $2,020. New money (defined as funds not currently on deposit with BHCU) is required and funding must be completed by end of business on December 1, 2020. There is a limit of one certificate per member.
As stated in the fine print on the Black Friday landing page,
To obtain the 5.38% APY Certificate you must have an active iSAVE Savings account. An active iSAVE Savings account is funded with new money only (not currently on deposit at BHCU), has a monthly automatic monthly deposit (ACH), does not exceed one (1) withdrawal in a month, and is enrolled in online banking and E-statements.
Excess Share Insurance
Deposits at BHCU are fully insured up to $500,000: at least $250,000 by the NCUA and $250,000 by Excess Share Insurance, the nation’s largest provider of excess share insurance since 1993.
Headquartered in Ridley Park, BHCU’s field of membership is primarily residency-based, with individuals who live, work, worship, or attend school in Delaware County, Pennsylvania eligible to join.
BHCU also offers membership to family members, even if they reside outside of Delaware County. "Family members" is defined as "spouse, children, siblings, parents, grandparents, grandchildren, step-children, step-parents, step-siblings and adopted children. Non-related household members can also join."
Joining BHCU can be done online, or at either of two Pennsylvania branches located in Glen Mills and Ridley Park. Other than information about social distancing when visiting a branch location, there are no restrictions/limitations (hours, temporary closures, appointments) listed on BHCU’s website.
A Regular Share (Savings) account must be opened to become a member. BHCU will deposit the first $5 into the new member’s Regular Share (Savings) to open the account.
Current BHCU members can open a Black Friday 6-month Certificate online, using BHCU’s Digital Banking platform. The Black Friday 6-month Certificate can also opened in the above-mentioned branch locations.
BHCU participates in the CO-OP Shared Branch and ATM network.
Members can access their BHCU accounts at over 5,000 locations nationwide and can now access over 30,000 surcharge free ATM’s. This means you have more direct, surcharge-free access to your money than most traditional bank customers do.
Credit Union Overview
BHCU has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 0.74% (excellent) based on June 30, 2020 data. In the past year, BHCU has increased its total non-brokered deposits by $29.85 million, an excellent annual growth rate of 22.46%. Please refer to our financial overview of BHCU (NCUA Charter # 61387) for more details.
Founded in 1952, BHCU was originally established as the Boeing Helicopters Credit Union to serve the employees of Boeing (formerly Vertol) and their families. A change to a community-based charter (exclusive to Delaware County) in 2015 prompted the rebrand, avoiding any confusion over membership requirements.
How the Black Friday Certificates Compare
When compared to 327 similar length-of-term CDs tracked by DepositAccounts.com, which are available within the FOM and have a similar minimum deposit requirement, BHCU’s Black Friday 6-month Certificate APYs currently rank first and second. Of course, the $2,020 maximum deposit limits the value of these high rates.
The above rates are accurate as of 11/26/2020.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.