CapEd FCU Boosts 60-Month Promo Rate CD


UPDATE 4/19/2018: CapEd is no longer an easy membership requirement credit union.

Deal Summary: 60-months Promotional Rate Share Certificate, 3.00% APY, $500 minimum deposit

Availability: Easy membership requirement Individuals who work for, volunteering for, or are retired from any position in the State of Idaho’s educational industry.

CapEd Federal Credit Union (CapEd) added a series of Promotional Rate Share Certificates (PRSC) almost four years ago, which have offered competitive APYs on a limited-time basis. At the beginning of the week, CapEd raised the rates on all three PRSC, but only 60-months (3.00% APY) is truly competitive. While CapEd’s regular Share Certificates have tiered APYs based on deposit levels ($500, $10k, $50k), the PRSCs only require a $500 minimum deposit to earn the stated APY.

The Promotional Rate Share Certificate is also available as an IRA (Traditional, Roth, CESA, and SEP) earning the same APY, with the same funding requirements.

As stated in CapEd’s Truth-In-Savings brochure, the Early Withdrawal Penalty reads as follows:

If your account has an original maturity of more than one year, we may impose a penalty equal to the lesser of:

    180 days of dividends, or
    The number of days from renewal/opening date to the date of withdrawal at the rate currently in effect for the account, or
    Seven days of dividends on the amount withdrawn if earned dividends are less than seven days’ dividends.

The balance on which the penalty is figured is the amount withdrawn less available dividends. If you have withdrawn all dividends at the time of early withdrawal, the penalty is taken from the principal.

Thanks to DA reader, ChasR, for his Forum post noting that CapEd has joined the “3 for 5 Club.”


UPDATE 4/19/2018 – CapEd has changed its field of membership (FOM) and has removed membership in the Idaho CapEd Foundation as a way to qualify. I do not know the reason for this change, but the NCUA has warned federal credit unions about associational common bonds that don't meet NCUA requirements.

While its former name, Capital Educators, suggested membership limited by employment in the education industry, CapEd Federal Credit Union offers membership to virtually anyone who joins as a Sustaining Member (one-time $20 donation) of the Idaho CapEd Foundation, a non-profit that funds worthwhile educational endeavors.

Other ways to qualifying for membership include working for, volunteering for, or being retired from any position in the State of Idaho’s educational industry.

In addition, if any members of your immediate family or household are current CapEd members or qualify through the education industry in Idaho, you qualify for membership.

Joining and/or opening a CD with CapEd can be done online or at any of ten Idaho branches located in Boise (3), Eagle, Kuna, Meridian (3), and Nampa (2).

Credit Union Overview

Capital Educators Federal Credit Union has an overall health grade of "B+" at, with a Texas Ratio of 11.12% (excellent) based on December 31, 2017 data. In the past year, CapEd has increased its total non-brokered deposits by $33.62 million, an excellent annual growth rate of 7.01%. Please refer to our financial overview of Capital Educators Credit Union (NCUA Certificate # 1040) for more details.

Capital Educators Federal Credit Union was originally established in 1936 as the Boise Teachers Federal Credit Union. Thirteen Boise teachers founded the new credit union, which had a total of $610 in loans and $596 in deposits at the end of the first year. Mergers in 1972 and 2005 with two other Idaho “Teacher” credit unions helped grow the membership. In 2012, the Idaho CapEd Foundation was established and CapEd’s chartered changed, permitting virtually anyone to join. With assets of in excess of $662 million and nearly 77,000 members, CapEd continues "To promote thrift and provide a wide range of quality financial services to our members, while maintaining a financially sound institution."

How the Promotional Share Certificate Compares

UPDATE 4/19/2018 – Comparison changed from nationally available CDs to those that are available within the FOM.

When compared to the 217 similar length-of-term CDs tracked by that require a similar minimum deposit and are available within the FOM, CapEd’s 60-Month Promotional Share Certificate APY currently ranks second.

The above rates are accurate as of 4/19/2018.

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

Related Pages: Boise CD rates, Twin Falls CD rates, 5-year CD rates, nationwide deals

E pluribus unum
  |     |   Comment #1
My goodness how things have changed. There was a time, and not very long ago either, when a CD offering like this would have elicited unending plaudits. That was then. This is now.
  |     |   Comment #2
A number of people got in the 4% Sharonview CD last month thus 3% has to be considered in that light. The 10 year Note is making another run at the 3% area this morning.
  |     |   Comment #3
Not bad......wouldn't mind putting a little in but 5 years is a long time.
  |     |   Comment #4
EPU--You're right. It's interesting how market outlooks have changed. At the end of 2013, many readers of this site jumped at a PenFed 3% APR 5-year CD deal. (It offered the same rate on 7-year CDs, and some went for that.)
All my 5-year PenFed 3% CDs mature in December. Today, I bought a 2.2% APR 13-month Wells Fargo brokered CD. With the short end of the yield curve rising, and an inverted curve threatening, 13 months is about a far as I'll go.
E pluribus unum
  |     |   Comment #6
Well so far we have Sharonview (gone now) which stood alone at 4%, with other non-local five year CD offerings seemingly operating with a 3% ceiling. My opinion is there is a whole lot of space available between 3% and 4%. Wish financial institutions would commence breaking through that 3% ceiling on the five year, even if they do not reach all the way up to 4%.
  |     |   Comment #5
Sorry to see CapEd is no longer "easy membership."
  |     |   Comment #7
I double-checked with CapEd that dropping membership in the Idaho Cap Ed Foundation as part its FOM would not impact my existing credit union membership status based solely on this, or my ability to open new accounts. A member services rep confirmed that this was correct
  |     |   Comment #8
Normally, once a member always a member. What made you think that there may have been continuing obligation to maintain membership in a FOM in "good status?"
  |     |   Comment #9
I had no reason to think CapEd wanted to bounce me or other "national" members. I checked simply because what's "normal" doesn't always seem to stop credit unions from doing what they want to do based on their disclosures and their ability to "amend" basic documents--eg, Fort Knox raising EWPs retroactively, Valor terminating add-on rights. My guess is that, if I dig deep enough, I'll actually find provisions in the membership agreements or by-laws of many credit unions allowing them to close any account and terminate any member at any time.
  |     |   Comment #10
Usually the CU's governing documents will have a provision for removing members, but it requires some onerous procedure like a quorum of the members voting the now-unwanted members out. I don't know if this has ever actually been performed anywhere.
E pluribus unum
  |     |   Comment #11
Obviously this would not apply to ChasR. But one of the credit unions of which I'm a member publishes periodically a list of deadbeat members. These are people who have, in effect, stolen money from the credit union. I sort of expect the next step for such individuals is summary expulsion . . if they do not pony up pronto.
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Availability: Easy membership requirement

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