CenLA Federal Credit Union (LA) Has Rate Leading Short-Term CDs

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Deal Summary: CDs – 12-month (1.01% APY) and 24-month (1.26% APY), $1k min deposit. 3-year IRA CD, 1.51% APY, $100 min deposit.

Availability: Five central Louisiana parishes.

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.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.26%$1k-CenLA Federal Credit Union24 Month CD
1.01%$1k-CenLA Federal Credit Union12 Month CD
Rates as of January 20, 2021.

CenLA FCU also has a very competitive 3-year IRA CD, which currently earns 1.51% APY. The minimum opening deposit is only $100.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.51%$100-CenLA Federal Credit Union3 Year IRA
Rates as of January 20, 2021.

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.

Interest RateCD Length of TermCredit Union/Bank
1.01% APY12-Month CDCenLA Federal Credit Union
0.85% APY14-Month CDEvansville Teachers Federal Credit Union
0.80% APY1-Year Fixed CDLafayette Federal Credit Union

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.

Interest RateCD Length of TermCredit Union/Bank
1.26% APY24-Month CDCenLA Federal Credit Union
1.04% APY2-Year CDEvansville Teachers Federal Credit Union
0.90% APY2-Year Fixed CDLafayette Federal Credit Union

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.

Interest RateIRA CD Length of TermCredit Union/Bank
1.51% APY3-Year IRA CDCenLA Federal Credit Union
1.20% APY3-Year IRA CDEvansville Teachers Federal Credit Union
1.10% APY36-Month IRA CertificateBarksdale Federal Credit Union

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.

Related Pages: Alexandria CD rates, 1-year CD rates, IRA CD rates

Comments

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