Cabrillo Credit Union Has Highest 5-Year CD Rate In California


Deal Summary: 5-year Share Certificate, 2.41% APY, $10k minimum deposit.

Availability: Residents of San Diego County, CA; several SEGs, including federal government agencies.

Cabrillo Credit Union (Cabrillo CU) is currently offering the best 5-year CD rate available anywhere in California. The 5-year Share Certificate earns 2.41% APY on deposits of $10k or greater; deposits between $2,000 and $9,999 earn only 0.30% APY.

1.51*%$50k-Cabrillo Credit Union60 Month Share Certificate
OTHER TIERS: 1.41% $2k - $10k | 1.46% $10k - $50k
1.51*%$50k-Cabrillo Credit Union60 Month IRA Certificate (Traditional, Roth)
OTHER TIERS: 1.41% $2k - $10k | 1.46% $10k - $50k
Rates as of September 20, 2020.

The 5-year Share Certificate is also offered as an IRA Certificate (Traditional, Roth), earning the same APYs with the same deposit requirements.

As stated in the Account Disclosure document, the Early Withdrawal Penalty reads as follows:

If the qualifying period is greater than one year, the member shall forfeit an amount equal to:

    a. all dividends for 180 days on the amount withdrawn; or
    b. all dividends on the amount withdrawn since the date of issuance or renewal, whichever is less.

If a withdrawal reduces the balance below the required minimum, the account shall be closed and a loss of dividends as in a. or b. above whichever is less, will be assessed on the entire amount in the account.

There is a 10-day grace period before a Share Certificate automatically renews. The Account Disclosure states that,

Dividends paid on a certificate account may be withdrawn without penalty only during the initial term of the certificate. Once the certificate is renewed, any previously paid dividends become a portion of the principal balance.


Headquartered in San Diego, California, Cabrillo Credit Union's field of membership (FOM) is quite varied.

Residency – Individuals who live or work in San Diego County are eligible to join.

Membership – Members of Fraternal Order of Retired Border Patrol Officers (FORBPO), regardless where they live, also qualify for membership.

Employment – Employees of Sharp Healthcare or the City of Carlsbad are also eligible for membership, as are federal government employees in the San Diego area.

Family Relationship – Relatives of anyone who is membership-eligible is welcome to apply.

Joining Cabrillo CU and/or opening a Share Certificate can be done online or at any of four full-service California branches, located in Chula Vista, La Mesa, and San Diego (2).

All Cabrillo Credit Union branches remain open and ready to serve you. Effective May 1, San Diego County has mandated that anyone who enters a business must wear a face covering. For the safety of our members and staff, members will not be allowed to enter the branch without a face covering.

Opening a Regular Savings account with a minimum $5 deposit is required to establish a Cabrillo CU membership.

Cabrillo CU participates in both the CO-OP Shared Branch and ATM networks.

Cabrillo is a member of the Shared Branch Network (5,000 nationwide), which means you can walk into other Shared Branch affiliated credit unions nationwide, to make deposits and withdrawals at their teller windows.

We also belong to a network of more than 30,000 surcharge-free ATMs, so there's likely one near you.

Credit Union Overview

Cabrillo Credit Union has an overall health grade of "A" at, with a Texas Ratio of 1.77% (excellent) based on December 31, 2019 data. In the past year, Cabrillo CU has increased its total non-brokered deposits by $15.66 million, resulting in an excellent annual growth rate of 6.11%. Please refer to our financial overview of Cabrillo Credit Union (NCUA Charter # 68409) for more details.

Founded in 1955 as the Border Federal Credit Union (BFCU), the original FOM was exclusive to Border Patrol employees. Over the next ten years, the FOM expanded to include many federal government agencies, including Justice, Treasury, FAA, FCC, and Small Business Administration. BFCU rebranded as Cabrillo Credit Union in 1976, deriving its new name from Juan Rodríguez Cabrillo, the first European to explore the coast of California in 1542–1543. Currently the 98th largest credit union in California, Cabrillo Credit Union has nearly 25,000 members and assets in excess of $333 million.

How the Share Certificate Compares

When compared to 216 similar length-of-term CDs tracked by that are available within the FOM and require a minimum deposit of $10k or less, Cabrillo Credit Union's 60-month Share Certificate APY currently ranks first.

The above rates are accurate as of 5/14/2020.

To search for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: San Diego CD rates, 5-year CD rates

orange liver
  |     |   Comment #1
looks like you have to

  |     |   Comment #2
Where did you get the information that it "looks like" one must live _and_ work in San Diego County to join the credit union?

According to the credit union's website:

Our History and Focus

Cabrillo Credit Union was founded in 1955 to serve the financial needs of Border Patrol agents and their families. Since then we’ve added other federal employee groups, Sharp Healthcare, City of Carlsbad employees, in addition to anyone who lives or works in San Diego County. We’ve also partnered with the Fraternal Order of Retired Border Patrol Officers (FORBPO) as a way for agents to join Cabrillo and enjoy all the benefits of credit union membership – nationwide.
(emphasis added)
  |     |   Comment #3
In the disjunctive?
  |     |   Comment #4
Dear alan1--
with all due respect
in your own response (anyone who lives OR works in San Diego County"
what you quoted is exactly what their site says
so, did they misprint it, or have they changed their requirements?
Either way--I failed the requirements
Thanks for your response-
  |     |   Comment #5
Re Comment #4: In your Comment #1, you wrote that it "looks like have to live and work in San Diego County." I read that as meaning that you need both (living and working) to qualify.

The credit union union's website says that have have to live or work in that county. I read that as meaning that either one (residence or work) is sufficient for eligibility to join.

In Comment #1, you wrote that you work in San Diego County, but live elsewhere and therefore cannot join.

I believe that we simply have different interpretations of the word "or".
orange liver
  |     |   Comment #6
its not my interpretation, its the credit union
maybe you and i are on the same page
i live in orange county
i work in san diego county (about 10 miles away from where i live)
should i be allowed to join the credit union?
alan1 you tell me
the credit union told me No!

  |     |   Comment #7
re #6 -- Thanks for mentioning that this is what someone at the credit union told you.

It's clear to me that the statement of a credit union employee is inconsistent with what is stated on the credit union's website. I have no idea whether the employee or the website is correct. There are times where membership information on a credit union's website is outdated or just plain incorrect. And there are many times where credit union employees are misinformed as to eligibility requirements. If I were in your position, I'd try to contact a manager at the credit union.
  |     |   Comment #8
alan1 my friend
excellent suggestion--I shall raise my issue up the ladder
however, someone once said--"you cant push on a rope"
also, you have to wonder how they are able to offer 2.4% when the rest of America cannot even offer 2% for 5 years?
but, "don't look a gift horse in the mouth"
"one man's ………….is another man's …….."
and so forth
Predatory Depositor
  |     |   Comment #11
As another esteemed attorney once brilliantly said “It depends on what the meaning of ‘is’ is.”
Predatory Depositor
  |     |   Comment #12
" have to wonder how they are able to offer 2.4% when the rest of America cannot even offer 2% for 5 years?"

Could it be its C+ rating on Weiss (versus an A rating on DA)?

In all fairness, Weiss uses profitability as a factor in its grading process. Since credit unions are not-for-profit organizations, that metric probably biases all of their CU ratings towards lower values.

I don’t know what methodology DA uses to arrive at its FI grades (I was tempted to make a dangerously snarky comment here, but in the interest of civility I won’t.). But whatever process it uses, if “profitability” is not a factor then I think it has the potential to be more meaningful than the Weiss grade with respect to CUs.
  |     |   Comment #9
The last qualification option on the membership online application reads, "I live OR work in San Diego County," not "live AND work."
orange liver
  |     |   Comment #10
you are the ultimate “OR” person
and its what this thread has needed
(carpline?? is that a name or an implement to catch a fish? either way-its cool)

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