CenLA Federal Credit Union (LA) Has Rate Leading Short-Term CDs
CenLA Federal Credit Union (CenLA FCU) is currently offering some of the highest CD rates available in Central Louisiana. The limited product line includes two short-term CDs – 12-month (1.01% APY) and 24-month CD (1.26% APY). Either CD can be opened with a $1k minimum deposit.
CenLA FCU also has a very competitive 3-year IRA CD, which currently earns 1.51% APY. The minimum opening deposit is only $100.
As stated in the Truth-in-Savings disclosure, the Early Withdrawal Penalty reads as follows:
Terms of 12 months or less – 90 days dividends
Terms of more than 12 months – 180 days dividends
According to CSR, partial withdrawals are allowed. There is a 7-day grace period before a CD or IRA CD automatically renews.
Availability
Headquartered in Alexandria, Louisiana, CenLA Federal Credit Union’s field of membership (FOM) is primarily residency-based, with individuals who live, work, worship, or attend school in the Louisiana parishes of Catahoula, Grant, LaSalle, Rapides, or Winn eligible for membership.
Employees/members of the Vernon School System, Louisiana Special Education Center (Alexandria), Louisiana District 7 Retired Teachers Association, or Union Tank Car also qualify for membership.
Joining CenLA FCU and opening any type of account can be done at any of three Louisiana branches, located in Alexandria (2) and Pineville, or by calling the Member Service Center (318.445.7388)
The first step for an eligible individual is to open a Regular Share (Savings) Account by completing and signing a membership and account card and depositing at least $25.
Credit Union Overview
CenLA Federal Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 1.48% (excellent) based on September 30, 2020 data. In the past year, CenLA FCU has increased its total non-brokered deposits by $9.19 million, an excellent annual growth rate of 9.32%. Please refer to our financial overview of CenLA Federal Credit Union (NCUA Charter # 15602) for more details.
Opening its doors in September 1963, the Rapides School Employees Credit Union (RSECU) had 25 charter members who deposited a total of $525. RSECU was run out of an office in the Rapides School Board building for 13 years, until RSECU constructed its first branch location in 1976. The CenLA Federal Credit Union rebrand occurred in 2004, following a changed to a community charter. Currently the 25th largest credit union headquartered in Louisiana, CenLA FCU has more than 10,600 members and assets in excess of $124 million.
How the CDs Compare
When compared to 225 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, CenLA Federal Credit Union's 12-month CD APY currently rank first.
When compared to 211 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, CenLA Federal Credit Union's 24-month CD APY currently rank first.
The above rates are accurate as of 1/14/2021.
To look for the best CD rates, both nationwide and state-specific, please refer to our CD Rates Table page.
How the IRA CD Compares
When compared to 164 similar length-of-term IRA CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, CenLA Federal Credit Union's 3-year IRA CD APY currently rank first.
The above rates are accurate as of 1/14/2021.
To look for the best IRA CD rates, both nationwide and state-specific, please refer to our IRA Rates Table page.