CapEd FCU Hikes Rates On Promotional Share Certificates

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Deal Summary: Promotional Rate Share Certificates – 12-months (1.70% APY), 24-months (1.90% APY), 60-months (2.40% APY), $500 minimum deposit, new money.

Availability: Easy membership requirement

CapEd Federal Credit Union (CapEd) added a series of Promotional Rate Share Certificates (PRSC) more than three 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 to all-time highs: 12-months (1.70% APY), 24-months (1.90% APY), and 60-months (2.40% APY).

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.40*%$500-Capital Educators Federal Credit Union60 Month Promotional Share Certificate
1.90*%$500-Capital Educators Federal Credit Union24 Month Promotional Share Certificate
1.70*%$500-Capital Educators Federal Credit Union12 Month Promotional Share Certificate
Accounts mentioned in this post. Rates as of December 17, 2017.

While CapEd’s regular Share Certificates have tiered APYs based on deposit levels ($500, $10k, $50k), the PRSC only require a $500 minimum deposit, but all funds must be new money. As stated on the “Eligibility” page of the online application,

Certificate promotional rates available to new accounts only.
Certificate will renew at applicable standard rates.

The current standard rates for a $500 deposit are 12-months (0.30% APY), 24-months (0.40% APY), and 60-months (1.25% APY).

The Promotional Rate Share Certificates are also available as IRAs (Traditional, Roth, CESA, and SEP) earning the same APY, with the same funding requirements.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.40*%$500-Capital Educators Federal Credit Union60 Month Promotional IRA Certificate (Traditional, CESA, Roth, SEP)
1.90*%$500-Capital Educators Federal Credit Union24 Month Promotional IRA Certificate (Traditional, Roth, CESA, SEP)
1.70*%$500-Capital Educators Federal Credit Union12 Month Promotional IRA Certificate (Traditional, Roth, CESA, SEP)
Accounts mentioned in this post. Rates as of December 17, 2017.

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

If your account has an original maturity of one year or less, we may impose a penalty equal to the lesser of:
90 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.

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.

Availability

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 included 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, you qualify for membership.

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

Credit Union Overview

Capital Educators Federal Credit Union has an overall health grade of "B" at DepositAccounts.com, with a Texas Ratio of 10.81% (excellent) based on June 30, 2017 data. In the past year, CapEd has increased its total non-brokered deposits by $37.93 million, an excellent annual growth rate of 8.24%. 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 to permit virtually anyone to join. With assets of in excess of $599 million and more than 72,400 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 CD Compares

When compared to the 205 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are nationally, CapEd’s 12-Month Promotional Share Certificate APY currently ranks fourth.

Interest RateCD Length of TermCredit Union/Bank
1.75% APY14-Month CDINOVA Federal Credit Union
1.72% APY12-Month IB CDIncredible Bank
1.70% APY12-Month Promotional Share CertificateCapEd Federal Credit Union

When compared to the 195 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are nationally, CapEd’s 24-Month Promotional Share Certificate APY currently ranks fifth.

Interest RateCD Length of TermCredit Union/Bank
2.10% APY24-Month iGOCDiGObanking
2.02% APY24-Month CDUSALLIANCE Financial
1.90% APY24-Month Promotional Share CertificateCapEd Federal Credit Union

When compared to the 181 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are nationally, CapEd’s 24-Month Promotional Share Certificate APY currently ranks sixth.

Interest RateCD Length of TermCredit Union/Bank
2.80% APY5-Year Term Deposit SpecialMountain American Credit Union
2.55% APY60-Month CDUtah First Federal Credit Union
2.40% APY60-Month Promotional Share CertificateCapEd Federal Credit Union

The above rates are accurate as of 12/7/2016.

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, 1-year CD rates, 5-year CD rates, nationwide deals

Comments
ChasR
ChasR   |     |   Comment #1
In 2014, CapEd did a "Black Friday" promotion of 3-year CDs at 2.10% APY that just matured . This must be CapEd's response to members taking the balances out. I took my money out of my maturing CDs and put it in a Live Oak Bank 2.50% 5-year add-on CD maturing in February 2020. I lucked out.
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