Blue Federal Credit Union Has 17-Month CD Special, Up To 2.75% APY

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Deal Summary: 17-month Term Share Special, up to 2.75% APY, $2k minimum deposit, new money

Availability: Easy membership requirement

Wyoming-based Blue Federal Credit Union (Blue FCU) has a new, limited-time offering: a 17-month Term Share Special, which can earn up to 2.75% APY. If funds already on deposit at Blue FCU are used, the APY will be 2.25%. The key to earning higher APYs is new money, defined as “money transferred from a different financial institution.” According to the landing page,

For new money, the rates are tiered with increases of half a basis point added to the rate of 2.25% for every additional $1,000.

What is missing from the quote is that the rate is capped at 2.75% APY, with deposits of $100k and above earning 2.75% APY. Here are a few of the 50 possible APYs.

  • 2.25% APY – $2k minimum
  • 2.30% APY – $10k minimum
  • 2.375% APY – $25k minimum
  • 2.50% APY – $50k minimum
  • 2.625% APY – $75k minimum
  • 2.75% APY – $100k minimum

As stated on the landing page, the Early Withdrawal Penalty reads as follows:

Early withdrawal penalties of 180 days dividends apply.

Funding a Term Share Special can be done by ACH, wire, or by check. There is a seven calendar day grace period before the 17-month Term Share Special renews as a 12-month Term Share. Maturing funds can be transferred to your Primary Savings Account, if you opt not to renew.

Extreme Checking

Blue FCU’s Extreme Checking has been earning the same tiered APYs for more than three years – Sapphire, 4.00% APY; Gold, 3.00% APY; and Silver, 2.00% APY – on qualifying balances up to $15k. All members automatically qualify for the Silver tier (2.00% APY), while the Gold and Sapphire tiers require more account relationships to qualify, determined by your Rewards For Life score.

APYMINMAXINSTITUTIONPRODUCTDETAILS
4.00*%-$15kBlue Federal Credit UnionExtreme Checking Sapphire - Qualifying
OTHER TIERS: 0.10% $15k+
3.00*%-$15kBlue Federal Credit UnionExtreme Checking Gold - Qualifying
OTHER TIERS: 0.10% $15k+
2.00*%-$15kBlue Federal Credit UnionExtreme Checking Silver - Qualifying
OTHER TIERS: 0.10% $15k+
Rates as of November 22, 2019.

The Extreme Checking account must first meet the “criteria for earning dividend” requirements in order to qualify for one of the three tiered rates.

  • At least 10 debit card transaction per month.
  • An automatic deposit or withdrawal in place.
  • Be enrolled in eStatements.

Rewards For Life

The tiered rates are based on Blue FCU’s Rewards For Life program. As stated on the Rewards For Life page,

Your rewards score is determined through a combination of your number of unique services, length of membership and total savings and loan balances. Each product and service is worth one (1) point and your years of membership and combined relationship balances varies in points awarded.

Sapphire status requires 9+ points, with Gold requiring 6-8 points and Silver 0-5 points. A complete breakdown of the Rewards Points Structure is available on the website.

The Extreme Checking account is fee-free and has no minimum balance requirement. It is available as a personal account only and there is a limit of one Extreme Checking account per member. Nationwide ATM fees are refunded up to $21 per qualification cycle, with a $3 limit per transaction.

Availability

Headquartered in Cheyenne, Wyoming, Blue Federal Credit Union’s field of membership provides a way for almost all U.S. citizens and resident aliens to join.

Easy Membership - Joining the Blue Foundation ($5 donation) qualifies for Blue FCU membership, regardless of employment or residency status.

Employment - Active employees, members, volunteers, retirees, pensioners, or annuitants of more than 1,000 Wyoming and Colorado businesses are eligible to join.

Military Relationship - Civilian and military personnel stationed at F.E. Warren Air Force Base qualify for membership, as do other military personnel. Complete details are listed on Blue FCU’s “Who Can Join” page.

Family Relationship - Family and household members of current Blue FCU members are also eligible to join.

Joining Blue FCU and/or opening a Term Share Special can be done online, by phone (800.368.9328), or at any of eight Colorado branches located in Boulder, Broomfield (2), Fort Collins (3), Lafayette, and Wellington, or six Wyoming branches located in Cheyenne (5) and Laramie.

You will need $5 to fund a Primary Savings Account.

Blue FCU participates in both the CO-OP Share Branched and ATM networks, giving members access to,

over 5,000 shared branches, allowing you to bank in person almost anywhere. With
Blue, you’ll also have access to over 30,000 fee-free CO-OP ATMs across the country.

Credit Union Overview

Blue Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.15% (excellent) based on June 30, 2019 data. In the past year, Blue FCU increased its total non-brokered deposits by $63.01 million, an excellent annual growth rate of 7.79%. Please refer to our financial overview of Blue Federal Credit Union (NCUA Charter # 7361) for more details.

Blue Federal Credit Union was originally established in 1951 as the Warren Federal Credit Union, formed by civilian employees on the F.E. Warren Air Force Base in Cheyenne. The Credit Union was rebranded as Blue Federal Credit Union in April 2016, following a merger between Warren FCU and Community Financial Credit Union of Broomfield, Colorado. This merger was the second largest consolidation approved by NCUA in the first quarter of 2016. Blue FCU is currently the largest Wyoming-based credit union, with more than 87,000 members and assets in excess of $1.1 billion

How the Term Share Special Compares

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available nationwide, Blue Federal Credit Union's 17-month Term Share Special tiered APYs (minimum $50k) currently rank first, regardless of deposit requirements.

The above rates are accurate as of 10/23/2019.

To look for the best CD rates, either nationwide or state-specific, please refer to our CD Rates Table page.

Related Pages: Denver checking accounts, Cheyenne checking accounts, reward checking accounts, 1-year CD rates, nationwide deals

Comments
John, long time member
John, long time member   |     |   Comment #1
This is not a good credit union for earning money, if you like to pat lots of fees for everything, they pay interest not monthly but every 90 days, they limit how much you can transfer without paying fees. They do not make full disclosures on their cds. How do I know, I have been a member for a very long time. Their epay is great.
Predatory Depositor
Predatory Depositor   |     |   Comment #3
Unless you are planning to withdraw interest or principal before maturity the crediting and compounding periods are irrelevant. Your APY will be 2.75% regardless of those periods if you hold the CD to maturity without withdrawals.
Y??
Y??   |     |   Comment #4
Correct, accept many commenting on this site are too willing to break their CD contracts only to jump at the next best offer and compounding periods would be relevant to them.
DMP
DMP   |     |   Comment #8
you earn 2.75% but the interest does change depending on the compounding. I've checked this with the online interest calculators. So it does make a difference. At least to me.
Predatory Depositor
Predatory Depositor   |     |   Comment #13
#8
This is a common misconception.

The APY you will earn on this account if you hold the share certificate to maturity with no withdrawals is 2.75%. The calculation of APY already includes the compounding period, so regardless of the compounding period, it will not change the APY since it is already taken into account in the calculation of that figure.

You don't even need to know what the compounding period is to know what your return will be if you hold the share certificate to maturity. It makes no difference because it is already included in the APY figure. The APY will be 2.75%.

If you have an APR and not an APY then you need to know what the compounding period is in order to calculate the APY. Compounding period will make a difference when converting APR to APY. Given an APR, the more frequent the compounding, the higher the APY will be.

But the 2.75% figure on this account is an APY not an APR. So if you hold this share certificate to maturity without withdrawals, the compounding period should make no difference to you. You will receive the stated 2.75% without even needing to know what the compounding period is. It's already taken into account in the APY figure.
Math
Math   |     |   Comment #14
BS Predatory!

Compounding Matters!
Predatory Depositor
Predatory Depositor   |     |   Comment #16
#14

35 years as a senior financial analyst and CFO tells me that it's not BS. But I'm still willing to learn.

So please explain in detail how what I said is inaccurate.
#17 - This comment has been removed for violating our comment policy.
Predatory Depositor
Predatory Depositor   |     |   Comment #18
I don't see the disconnect. This is an informative site, and the comments by many of the participants here are interesting to read.

The site is focused on a limited type of investment, and provides an excellent resource for further understanding such investments and how to maximize investment returns in that category.

I don't see that one's personal investment situation need have anything to do with the desire to stay on top of this topic.

Further, for those who have a diversified portfolio of investments, having access to more information about how to maximize the return from each category in that portfolio is never a useless thing regardless of your financial situation.

And if you also happen to be interested and finance as a hobby or as a vocation, the site is entertaining as well.

When it comes to investing, more knowledge and information is always an advantage.
RichReg
RichReg   |     |   Comment #19
@#17 ; APY is APY no matter when you get paid. One isn't necessarily 'chasing' anything by pointing that out. Doesn't matter if you have $5000 or $500,000 disposable funds for cash and cash equivalents, you should still be educated on what return you're getting. And those funds could easily be ONLY 10-20% of a well thought out total portfolio (AND financial plan) that's diversified between stocks, bonds, etc.
Predatory Depositor
Predatory Depositor   |     |   Comment #20
A good way to illustrate this point might be to put it like this.

Let's say you put $10,000 into this share certificate. If the compounding period is monthly, how much will be in your share certificate account at maturity?

The answer is approximately $10,391.80 (sometimes it differs by a small amount because the stated APY is sometimes a rounded figure reported according to banking regulations).

Now suppose the compounding period is not monthly, but daily. How much how much will be in your share certificate account at maturity?

The answer is approximately $10,391.80, the exact same amount as will be in the account if the compounding period is monthly (or quarterly, or semi-annually or continuously, or any other compounding period).

Once you know the APY, the compounding and crediting periods do not make any difference in the number of dollars you will receive at maturity provided you do not make any withdrawals before maturity.

This is one of the reasons the APY became a regulatory standard for reporting bank interest rates to depositors. It eliminates the need for consumers who hold CDs and share certificates to maturity to compare compounding periods and gives them a simple and standardized method to compare rates.
deplorable 1
deplorable 1   |     |   Comment #21
@PD: This APR vs. APY discussion comes up over and over again every time there is a odd term CD. For some reason many people just can't comprehend that the APY is there for comparison purposes. It gets really frustrating trying to explain it.
Predatory Depositor
Predatory Depositor   |     |   Comment #23
It's okay. It's a concept that takes some thought to grasp.

But the bottom line is that accounts that have the same APY have the same annualized rate of return to the depositor regardless of their compounding periods, and even if their compounding periods are different.

The APY figure already includes the effect of compounding.
#24 - This comment has been removed for violating our comment policy.
Predatory Depositor
Predatory Depositor   |     |   Comment #25
Pal if I had a dime for every time I've been offended, my bank account would be bigger than the national debt.
Predatory Depositor
Predatory Depositor   |     |   Comment #27
Okay this is a fun challenge to explain, so let’s see if this helps:

Suppose you have a choice between investing $10,000 in two different 12 month CDs and holding them to maturity with no withdrawals. Both CDs have the same APY of 2.50%

CD1 has an APR of 2.48% And the interest is compounded quarterly.

CD2 has an APR of 2.47% And the interest is compounded daily.

Since both CDs have an APY of 2.50%, they will both be worth the same $10,250 at maturity.

Do you care whether you get the CD that is compounded quarterly or the CD which is compounded daily? Why should you if they are both worth the same amount at maturity?

Two CDs, even CDs of the same term, can have different compounding periods and still have the same APY. Once you know the APY, it doesn’t matter what the compounding period is. The only thing you need to know about the rate of interest they pay is their APYs.
deplorable 1
deplorable 1   |     |   Comment #5
This credit union is tricky and full of fees. I was looking at their "accelerated savings" which pays 5% on $1,000 to add to my collection. They actually require a direct deposit but that's not the worst part the rate drops to .10% on the entire balance if you are 1 cent above $1,000. Be careful and read that fine print closely if you go for this.
Predatory Depositor
Predatory Depositor   |     |   Comment #7
I don't think it's deceptive drop your rate if you're even one penny over the limit. That's fair enough. But the dangerous thing is that if you have a direct deposit going into that account, and it's automatic, you have to constantly monitor it to make sure it doesn't go over. And of course if your direct deposit is more than $1,000, it won't work at all. That seems to me to be the tricky part... unless the direct deposit goes into a different account.

I don't have any direct deposits to use for any account, so unless ACH transfers that I initiate count as a direct deposit, which they usually don't, I can't take advantage of any of the deals that require direct deposits.
deplorable 1
deplorable 1   |     |   Comment #9
I think a $5 ACH will work but you have to keep the balance under $1,000 or the $5 ACH plus monthly interest will kick you over. It's not like they just give you .10% on the amount over $1,000 but the entire balance only earns .10% so you really have to monitor it like a hawk and pull out $9.17 each month. I have several small capped accounts and none of them work like this.
Predatory Depositor
Predatory Depositor   |     |   Comment #12
Lotta work for an extra $2.50 a month. :)
deplorable 1
deplorable 1   |     |   Comment #22
For sure PD that was my point. I would only do this if I was opening a CD and the savings with a credit card earning the extra 2%. I wouldn't just go for the savings too much work. I could probably figure out a way to automate it though.
John, long time member
John, long time member   |     |   Comment #26
Hello, yes this credit union is full of tricks, and everything has a fee it is like being in cub scouts or brownies where everyone is assigned a name, for every loan you have with them, John, long time member, but their epay is great.
deplorable 1
deplorable 1   |     |   Comment #6
According to DoC this credit union allows credit card funding possibly up to $6,010 so there may be a good MS opportunity here.
https://www.doctorofcredit.com/does-funding-a-bank-account-with-a-credit-card-count-as-a-purchase-or-cash-advance/
Scroll down to Blue
The Real MAGA
The Real MAGA   |     |   Comment #10
deplorable 1 Yeah I took a break from that list and will probably start back up again soon. Most of the data points are back in 2016 which usually means they changed cc funding, but not always. It doesn't take long when ms's get involved.
Treadstone
Treadstone   |     |   Comment #11
lets hope so as that would be a good deal
Kaight
Kaight   |     |   Comment #15
Agreed, deplorable 1. I don't need any two handle CDs and I for certain don't need any 17 month CDs. Either one is ridiculous. Both together make this deal just that much more asinine. However:

I certainly can understand there will be other participants here who don't agree and who want this CD deal. So I can report having spoken with Blue many months ago when I was out shopping for CC opportunities of the sort you mentioned. They were nice folks, cooperative and helpful. I'm struggling to recall why I didn't pursue membership at that time. There was some sort of wrinkle. It might have been maximum allowed dollars when opening each account. Dunno. Cannot remember. Anyway, for those who DO like this CD deal and who join Blue for that reason, the added benefit of potential MS profit should not be overlooked.
gmohan123
gmohan123   |     |   Comment #28
I tried opening a new account and CD looks like initially denied as they said I have opened to many new acts. She said she will try to get approval in couple of days. Looks like shopping for CD rates getting into trouble on other front !! Do they do credit check on 1st Applicant only?
MikeG
MikeG   |     |   Comment #29
I have applied for a required savings to joint the Blue Credit Union. I'ts been more than the 48 hours acceptance response time that I was told may be needed (at most).
gmohan123
gmohan123   |     |   Comment #30
MikeG if you have still not heard call and follow up that will make things move faster ..I have seen that always helps ..
George G
George G   |     |   Comment #31
I can't believe that I was denied . I have over $400,000 from a CD at another institution that came to maturity . I was shopping around looking for a CD that paid a good interest. I saw one at 1st Nat. Bank in Pa. I started to fill out an application form and it only had a choice of new money from a savings or checking account . So I had to transfer the $400,000 Cd in the grace period in to a Savings account . Mind you this was on a Friday and took actually 4 days before it showed up in a Savings account . Then when I found that the 1st Nat. Bank lowered it CD rate I found this CD offer at Blue C.U. I go through all the application process , Copy of ID , Account # and routing number to transfer the $5.00 Then was told I would have to wait 48 hrs. to see of I would be approved . I called in today to find out I've been denied. The reason they say is because I have to many account applications in recently . Of course I do all from banks and institutions where I have CD's and checking and savings accounts … I told them I could prove I have everyone of those accounts they mentioned I had applied for . Still they say it's their rule . Pretty Dang Stupid Rule when I didn't do anything wrong other than have several valid accounts . I was always told do not put all your eggs in one basket and to diversify … Not I get penalized for following good advise from all fincial advisors ….
gmohan123
gmohan123   |     |   Comment #33
@George G I was denied as well for same reason and opened one in PESU getting 3.25% for 3 years or you can do 3% for 2 years. Process was faster and easier but they do not participate in Co-Op
George G
George G   |     |   Comment #34
gmohan123 . I do not understand the stupid rule .. Yes if I was going to take out a loan but heck I putting money in not taking it out so what's the big deal ? How can they loose ? They get my cash and it is from a cd that has just matured .. The more I think about the stupidity behind some institutions like this one makes me wonder … I should be the one scared to do business with them instead of them with me … They have nothing to loose … Makes no sence why . It is all proven money I ben doing short term cd's with . Please send me the name of the institution's email address so I can find it on the web .. Tks. George .
Bat Masterson
Bat Masterson   |     |   Comment #37
George G

You have been victimized by ChexSystems. Same thing happened to me at a different financial institution. It is infuriating. 'Bout the only thing you can do is to request your ChexSystems report. It will be sent for free and you can apply for your report online. Look it over and make certain all information therein contained is correct.

I cannot add much. Can only tell you some financial institutions give great weight to ChexSystems and are sticklers. Other financial institutions do not even use ChexSystems or are mostly indifferent to initiation of numerous banking relationships and/or opening of new accounts. In my own case my actual ChexSystems score (it's in the report you will receive) was very high. I was clearly not a crook or a cheat. But it did not matter. I had opened too many accounts and that was my undoing. Nobody cared that everything I had done was 100% on the up and up, above board, and honest. I was denied membership straightaway, regardless.
George G
George G   |     |   Comment #40
Bat Masterson , Yes I agree … Well maybe a blessing in disguise … I found a 2 year CD paying 3% APY .. So for 7 more months I get another .25% … They also are offering a 3 year CD at 3.25 APY at PSECU out of Harrisburg PA. So **** You Blue telling me you'd get back with me !!! Don't waste my time !!!
George G
George G   |     |   Comment #41
gmohan 123 I just put my app in today and they say everything looks good ,,, Just waiting approval ….
rateinfo
rateinfo   |     |   Comment #32
BEWARE. I was told that this Credit Union will only approve applications that meet their ChexSystems requirements. They prefer to see about 3 inquires over a few years (was not specific - depends on ChexSystems info they said) and automatic decline over 6. For us who have saved and read this site, we can easily surpass that limit. Was told that no matter how good credit or how large your balances, you will be declined membership. Something to consider if you have been frugal and have saved enough to invest to go over their limits.
George G
George G   |     |   Comment #35
But my app. was for a CD only … SO wtf? I was taking from a cd that just matured and guaranteed funds from a FDIC INSURED bank with an A+ rating … SO there is absolutely no risk on their part what so ever .. I am band for searching for a better place to put my funds and having to many open bank & CU accounts and good business transactions …. Stupid Rule / Stupid on their part .. I guess it's a blessing in disguise ...
John, long time member
John, long time member   |     |   Comment #36
o.k. so I did it, I dropped cit bank, a good bank, and am going after the cd @ .0275.
john, long time member
john, long time member   |     |   Comment #38
now have the 17 mos. cd, rate .0271 and apy at .0275, I am still trying to figure that out, and they have a great epay.
jofr4646
jofr4646   |     |   Comment #39
looks like this promotion ended yesterday
Blue FCU's Extreme Checking Can Earn Up to 4.00% APY
Availability: Easy membership requirement

Wyoming-based Blue Federal Credit Union’s (Blue FCU) Extreme Checking is a reward checking account with three different rate tiers (Sapphire, 4.00% APY; Gold, 3.00% APY; and Silver, 2.00% APY – all up to $15k) that are determined by your Rewards For Life score.

All members automatically qualify for the Silver tier (2.00% APY), while the Gold and Sapphire tiers require more account relationships to qualify.

The Extreme Checking account must first meet the “criteria for earning dividend” requirements in order to qualify for one of the three...

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Warren FCU is offering a reward checking account called Extreme Checking which pays 4.01% APY on balances up to $25,000 (1.01% for above) and refunds ATM fees nationwide if the following monthly requirements are met:
  • 10 VISA check card purchases
  • one direct deposit or ACH (auto debit)
  • access monthly statements online
If these are not met, the rate falls to 0.15%. There are no monthly service charges and no minimum balance.

Membership is open to those who live, work, and worship or attend school within Warren...




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Warren Federal Credit Union is offering a 5.25% APY 17-month certificate of deposit. There's a $25K minimum balance requirement and at least 50% of the deposit must be new money. You may also be able to get a free gift when you apply for this CD with this Valpak coupon. This free gift deal expires 2/25/2006.

The credit union's field of membership includes those who live in areas of Cheyenne, Wyoming. There is also a large list of Select Employee Groups. The credit union has four branches in Cheyenne and one...

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