BMI FCU (Ohio) 49-Month CD Increased to 2.37% APY


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.

2.50%$5k-BMI Federal Credit Union49 Months CD Special
2.50%$5k-BMI Federal Credit Union49 Months IRA Special (Traditional, Roth, CESA, SEP)
Accounts mentioned in this post. Rates as of January 24, 2018.

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.

The Share Certificate is are also available as an IRA (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.

According to CSR, the Early Withdrawal Penalty is only 3 months interest.

BMI has additional odd-term CDs with competitive rates.The terms range from 25 months to 61 months. Please refer to our BMI CD rates table for rates and details.

Excess Share Insurance

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

Additional coverage up to $250,000 provided by Excess
Share Insurance Corporation, a licensed insurance company.


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.

In addition, immediate family members of current BMI members also qualify. Immediate family is defined as spouse, child, sibling, parent, grandparent, and grandchild, including step and adoptive relationships.

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

While many of BMI’s products can be opened online, the 49-month Share Certificate is considered to be a “special” that must be opened in-branch.

Credit Union Overview

BMI Federal Credit Union has an overall health grade of "A" at, with a Texas Ratio of 3.42% (excellent) based on September 30, 2017 data. In the past year, BMI has increased its total non-brokered deposits by $11.22 million, an excellent annual growth rate of 3.13%. 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 35,700 members and assets in $462 million.

How the Share Certificate Compares

When compared to the 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 first.

Interest RateCD Length of TermBank/Credit Union
2.37% APY49-Month Share CertificateBMI Federal Credit Union
2.32% APY48-59 Month CDWright-Patt Credit Union
2.28% APY48-Month CDUSALLIANCE Financial

The above rates are accurate as of 12/29/2017.

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