BMI FCU (Ohio) Offers 37-Month CD Special


Deal Summary: Share Certificate Specials – 37-month (2.70% APY) and 49-month (2.80% APY), $5k minimum deposit

Availability: Residents of eight central Ohio counties (Columbus Metropolitan Statistical Area).

Once again, BMI Federal Credit Union (BMI) is offering competitive rates on its Share Certificate Specials (SCS). According to BMI’s website, “To ensure our rates remain competitive, our certificate specials are offered for a limited time.” Of the seven SCS, the 37-month (2.70% APY) and 49-month (2.80% APY) have the best rates. While BMI’s regular Share Certificates require a $500 minimum deposit, the minimum deposit for an SCS is $5k.

4.25%$5k-BMI Federal Credit Union37 Month CD Special
4.25%$5k-BMI Federal Credit Union49 Month CD Special
Rates as of February 2, 2023.

The Share Certificate Specials were introduced about nine months ago. There have been five coordinated rate increases, between 85 and 101 bps, for all the SCS, with the shorter terms seeing the larger increases. Just one more example of the flat yield curve.

The Share Certificate Specials are also available as IRAs (Traditional, Roth, CESA, SEP), earning the same APY with the same funding requirements.

As stated in the fine print on the Certificate and IRA page, “Loyalty Rewards cannot be added to these rates.” BMI’s Loyalty Rewards program is based on members’ “account relationship with BMI FCU and the balances they keep,” and can add an additional 0.10% and 0.25% increase on Certificates and IRAs.

CSR stated that the Early Withdrawal Penalty for either Share Certificate Special is “two quarters of dividends.” In other words, six months of interest.

Excess Share Insurance

In addition to the NCUA insurance coverage on funds up to $250k, BMI offers Excess Share Insurance, which offers coverage on funds up to an additional $250k.


Headquartered in Dublin, Ohio, BMI Federal Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, worship, or attend school in the Ohio counties of Delaware, Fairfield, Franklin, Licking, Madison, Morrow, Pickaway, and Union eligible to join.

Immediate family members of current BMI members also qualify for membership. BMI defines immediate family as spouse, child, sibling, parent, grandparent, and grandchild, including step and adoptive.

Joining BMI Federal Credit Union can be done online, or at any of four Ohio branches located in Columbus (2), Dublin, and Westerville.

While a portion of BMI’s product line can be opened online, Share Certificate Specials must be opened in-branch.

Credit Union Overview

BMI Federal Credit Union has an overall health grade of "B+" at, with a Texas Ratio of 4.29% (excellent) based on December 31, 2017 data. In the past year, BMI has increased its total non-brokered deposits by 9.36 million, an above average annual growth rate of 2.55%. Please refer to our financial overview of BMI Federal Credit Union (NCUA Charter # 1199) for more details.

BMI Federal Credit Union was founded in 1936 by a small group of Battelle Memorial Institute employees. (Headquartered in Columbus, Ohio, Battelle Memorial Institute is a private nonprofit applied science and technology development company.) In 2012, BMI expanded its FOM to cover the Columbus Metropolitan Statistical Area, an eight-county area with a population of about 1.8 million. Prior to this expansion, the FOM included more than 350 SEGs, exclusively. BMI is currently the tenth largest Ohio credit union, with more than 36,100 members and assets in $470 million.

How the Share Certificate Specials Compares

When compared to the 266 similar length-of-term CDs tracked by that require a similar minimum deposit requirements and are available with the FOM, BMI Federal Credit Union’s 37-month Share Certificate APY currently ranks second.

When compared to the 230 similar length-of-term CDs tracked by that require a similar minimum deposit requirements and are available with the FOM, BMI Federal Credit Union’s 49-month Share Certificate APY currently ranks second.

The above rates are accurate as of 4/24/2018.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD Rates Table page.

Related Pages: Columbus CD rates, 5-year CD rates

BMI FCU (Ohio) 49-Month CD Rate Increased
Deal Summary: 49-month Share Certificate, 2.37% APY, $5k minimum deposit

Availability: Residents of eight central Ohio counties (Columbus Metropolitan Statistical Area).

Last week, BMI Federal Credit Union (BMI) added 24 bps to its 49-month Share Certificate (2.37% APY). It can be opened with a $5k minimum deposit and there is no stated balance cap.

The 49-month Share Certificate was added to the product line only six months ago, earning 1.85% APY. Before last week’s rate increase, there was a 28 bps increase in early November.

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