Recently, Bridge Credit Union (Bridge CU) raised the rates on its 24-month Certificate (2.00% APY) and 24-month Second Chance Certificate (2.00% APY).
Both Certificates (CDs) require a minimum opening deposit of $1K, with no maximum balance cap. The Second Chance CD has a bump-up option, which is detailed on page 8 of Bridge CU’s Account Disclosure brochure:
We will not change the rate on your account during the term of the account. However, you have the option to exchange this dividend rate once during the term, after 90 days of opening the account for terms up to 24 months. The new dividend rate will be the rate then being offered or Second Chance Share account of equal term of maturity as the original term of this term share account.
There will not be any fee to change the rate, however the request must be submitted in writing. If you make an exchange, the maturity date of this account will remain the same as originally scheduled.
According to CSR, the Early Withdrawal Penalty on the 24-month CD and 24-month Second Chance CD is 180 days interest.
Headquartered in Columbus, Bridge Credit Union’s field of membership is primarily employment based, with employees and retirees (and immediate family members) of the following organizations eligible to join:
In addition, everyone who lives, works, or worships in the greater Hilltop Community in West Columbus is also eligible for membership.
Joining Bridge CU can be done online,, by email, or in person at the sole branch located in the Hilltop area of Columbus. The membership application is available for download. Opening a CD requires a visit to the Credit Union.
Credit Union Overview
Bridge Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas ratio of 4.88% (excellent) based on December 31, 2014 data. In the past year, Bridge CU has increased its total deposits by $3.97 Million, an excellent annual growth rate of 11.3%. Please refer to our financial overview of Bridge Credit Union for more details.
Bridge Credit Union (NCUA Certificate # 62306) began in 1967 as State Transportation Employees Credit Union. Not much had changed during the Credit Union’s first 45 years, but in 2013, a serious rebranding took place.
The new Bridge brand is both a nod to the credit union’s transportation heritage (they primarily serve workers and retirees from the Ohio Department of Transportation), but also reflects the credit union’s strategic decision to begin offering services in other transportation-related industries within the private sector. Those industries now include employees within logistics, construction, engineering, and warehousing.
This rebranding was not solely a cosmetic change: in addition to growing the field of membership, Bridge CU added new services, including private student loans, a dividend checking account, a new online mortgage resource, and a membership rewards program.
How the CDs Compare
When compared to other similar length of term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available to Ohio residents, Bridge Credit Union’s 24-month Certificate is definitely competitive, with the 24-month Second Chance Certificate offering an extra cachet.
The above rates are accurate as of 6/1/2015.
To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.