In April, I wrote about the competitive rates on the 25- and 37-month Special Share Certificates offered by Cedar Falls Community Credit Union (CFCCU). Those rates dropped yesterday, but the rates on the 15-month Special Share Certificate and the 15-month Jumbo Certificate were raised yesterday to 1.50% APY and 1.70% APY, respectively.
The minimum deposit for the Special Share Certificate is $1k and $100k for the Jumbo Certificate.
Both Certificates are available as IRAs (Traditional) earning the same APYs, with the same funding requirements.
According to CSR, the Early Withdrawal Penalty for either the 15-month Special Share Certificate or the 15-month Jumbo Certificate is “up to 360 days.”
Cedar Falls Community Credit Union’s field of membership is residency based, with individuals who live or work in the Iowa counties of Black Hawk, Bremer, Buchanan, Butler, Chickasaw, Fayette, and Grundy eligible to join.
CFCCU’s Become A Member page states that membership eligibility is, "also extended to your entire family; spouse, children, parents, brothers, sisters, grandparents and grandchildren."
Joining CFCCU can be done in person at any of three Iowa branches, located in Cedar Falls (2) and Waverly. A completed Membership Application can also be returned by mail, but signature(s) must be notarized.
CFCCU’s “online application” is actually a Contact Me form, and upon submission,
We will be in touch with you shortly to finalize a few details...and then you'll
soon be a proud member-owner of Cedar Falls Community Credit Union!
Opening a Share Certificate requires an in-person to any of the previously mentioned branches.
Credit Union Overview
Cedar Falls Community Credit Union (NCUA Charter # 65565) has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 1.46% (excellent) based on March 31, 2016 data. In the past year, CFCCU has increased its total deposits by $2.93 million, an excellent annual growth rate of 3.49%. Please refer to our financial overview of Cedar Falls Community Credit Union for more details.
Cedar Falls Community Credit Union was originally chartered in 1958 for the benefit of members of a local machinists’ union. The field of membership expanded to include other employee groups over the next 20+ years, until a community charter was granted in 1982. Cedar Falls Community Credit Union is currently Iowa’s 20th largest credit union, with more than 8,000 members and assets in excess of $102 million.
How the CDs Compare
When compared to the 161 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available to residents in the northeastern Iowa region, Cedar Falls Community Credit Union’s 15-Month Special Share Certificate currently ranks second.
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available to residents in the northeastern Iowa region, Cedar Falls Community Credit Union’s 15-Month Jumbo Share Certificate currently ranks first.
The above rates are accurate as of 7/29/2016.