Blackhawk Community Credit Union (Blackhawk) is ending the workweek by raising the rate on its 12-month Jumbo Share Certificate (2.00% APY) and 12-month Share Certificate (1.80% APY). Blackhawk’s Jumbo Share Certificates require a $10k minimum opening deposit, while the Share Certificates can be opened with as little $1k.
Both Certificates are available as IRAs (Traditional, Roth, and CESA), earning the same APYs with the same funding requirements.
In the past year, the 12-month Jumbo Share Certificate and Share Certificate each have had four rate increases, adding a total of 120 bps and 110 bps, respectively.
According to CSR, the Early Withdrawal Penalty is based on the amount of time remaining until maturity.
If the remaining term is less than 1 year, the penalty is equivalent to 90 days interest.
If the remaining term is over 1 year, the penalty is equivalent to 180 days interest.
Headquartered in Janesville, Wisconsin, Blackhawk Communty Credit Union’s field of membership (FOM) is primarily residency-based, with individuals who live, work, attend school, or own property in the Wisconsin counties of Dane, Green, Jefferson, Kenosha, Milwaukee, Racine, Rock, Walworth, and Waukesha, as well as Boone, Lake, McHenry, and Winnebago Counties in Illinois, eligible to join.
In addition, employees of nine SEGs also qualify for membership.
Immediate family members (spouse, parent, child, or stepchild) of a membership-eligible individual may also qualify.
Since I last wrote about Blackhawk, an online membership application has been added. Joining the Credit Union and/or opening a Share Certificate can now be done online, or at any of the nine Wisconsin branches located in Beloit, Delavan, Edgerton, Janesville (3), Kenosha, Milton, and Stoughton.
Credit Union Overview
Blackhawk Community Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 5.25% (excellent) based on September 30, 2017 data. In the past year, Blackhawk has increased its total non-brokered deposits by $53.28 million, an excellent annual growth rate of 1306%. Please refer to our financial overview of Blackhawk Community Credit Union (NCUA Charter # 66998) for more details.
Blackhawk Credit Union was chartered in 1965, serving the Fisher Body Division of General Motors (Janesville) and office employees of UAW Local 95. The first expansion in the FOM occurred in 1983 when membership was opened to everyone who lived or worked in Rock County. Over the next 20 years, the FOM continued to expand, and in 2004, “Community” was added to the name “because the community is so important” to the Credit Union. Following a recent merger with Kenosha City Employees Credit Union, Blackhawk Community Credit Union has become Wisconsin’s 16th largest credit union, with more than 48,400 members and assets in excess of $508 million.
How the Jumbo Share Certificate Compares
When compared to the 263 similar length of term CDs tracked by DepositAccounts.com, requiring a minimum deposit of $10k or less and available within the FOM, Blackhawk Community Credit Union’s 12-month Jumbo Share Certificate APY currently shares the top spot with Synchrony Bank’s 12-month CD APY and Live Oak Bank’s 1-year CD APY.
The above rates are accurate as of 1/12/2018.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.