Earlier this week, BHCU (formerly the Boeing Helicopters Credit Union) raised the rates on two of its long-term CDs: 50-month CD (2.15% APY) and 62-month CD (2.40% APY). The minimum opening deposit is $500, with no balance cap.
Both CDs are available as IRAs (Traditional), earning the same APYs with the same funding requirements.
BHCU’s CDs come in three differently named varieties: CD ($500+), Jumbo CD ($100K+), and Super Jumbo CD ($250K). While one might expect tiered APY levels based on deposit balances, all three CD types earn the same APY.
According to CSR, the Early Withdrawal Penalty for all BHCU CDs is "the previous quarter’s interest."
Headquartered in Ridley Park, BHCU membership is 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 don’t reside in Delaware County.
"Family members" is generously defined as "including your spouse, children, siblings, parents, grandparents, grandchildren, step-children, step-parents, step-siblings and adopted children. Non-related household members can also join."
Credit Union Overview
BHCU (NCUA Certificate # 61387) has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 1.22% (excellent) based on June 30, 2015 data. BHCU has an excellent capitalization level of 18.58%, a result of holding $127.75 Million in assets with $23.74 Million in equity. Please refer to our financial overview of BHCU 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 recent change to a community-based charter (exclusively serving Delaware County) prompted the name change, dispelling any confusion over membership requirements. Currently, BHCU has over 7,600 members and projects substantial growth based on the field of membership expansion.
How the CDs Compare
When compared to the 335 similar length-of-term CDs tracked by DepositAccounts.com, that require a similar minimum deposit and are available to Pennsylvania residents, BHCU's 50-month CD currently shares the top spot with NASA FCU’s 49-month Share Certificate Special.
When compared to the 340 similar length-of-term CDs tracked by DepositAccounts.com, that require a similar minimum deposit and are available to Pennsylvania residents, BHCU's 62-month CD currently ranks second.
The above rates are accurate as of 10/31/2015.
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.