Centra Credit Union (IN) Offers 10-Month CD, 3.25% APY Next Week


UPDATE 5/21/2019: 10-month One-Day Share Certificate can be opened in-branch or by phone. Status of online application is still unknown.

Deal Summary: 10-month One-Day Share Certificate, 3.25% APY, $5k min/$100k max deposit

Availability: Residents of 61 Indiana and seven Kentucky counties

Thanks to a DA reader who emailed me, I’m able to give a heads-up about a 10-month CD being offered for one day (May 23) by Centra Credit Union (Centra CU). The DA reader learned about this very limited-time offering when he visited a branch earlier this week. This CD doesn’t appear on the Centra CU’s website, the Call Center hadn’t been informed about the CD when I called, and I don’t even know what it's being called. (One-Day Share Certificate will do until the CD is officially announced.) A very helpful CSR at the Call Center did some sleuthing for me and confirmed the details: 10-month One-Day Share Certificate, 3.25% APY, $5k minimum/$100k maximum deposit.

Last November, Centra CU offered a one-day 6-month CD on Black Friday (5% APY, $6.5k max) that will be maturing next week. According to the CSR that the DA reader spoke with, Centra CU is hoping to keep those maturing funds in-house by offering another one-day CD with a great rate. The CSR I spoke with was told that more details about this special offering would be made available next week. Stay tuned for updates.


Headquartered in Columbus, Indiana, Centra Credit Union’s field of membership (FOM) is open to anyone who lives or works in any of the following 61 Indiana or seven Kentucky counties.

Indiana Counties: Adams, Allen, Bartholomew, Blackford, Boone, Brown, Carroll, Cass, Clark, Clay, Clinton, Crawford, Dearborn, Decatur, Delaware, Fayette, Floyd, Franklin, Grant, Greene, Hamilton, Hancock, Harrison, Hendricks, Henry, Howard, Huntington, Jackson, Jay, Jefferson, Jennings, Johnson, Lawrence, Madison, Marion (with the exception of Decatur Township), Miami, Monroe, Montgomery, Morgan, Ohio, Orange, Owen, Parke, Perry, Putnam, Randolph, Ripley, Rush, Scott, Shelby, Sullivan, Switzerland, Tippecanoe, Tipton, Union, Vigo, Wabash, Washington, Wayne, Wells, or White.

Kentucky Counties: Bullitt, Henry, Jefferson, Oldham, Shelby, Spencer, or Trimble.

Immediate family members of individuals eligible to join also qualify for membership.

For a detailed map of the eligible counties, please refer to Centra CU’s Become A Member page.

Joining Centra CU can be done online, on the phone, or in-person at any of 24 full-service Indiana branches located in Carmel, Clarksville, Columbus (8), Edinburgh, Greensburg, Indianapolis, Jeffersonville (2), Madison, New Albany (2), North Vernon, Scottsburg (2), Sellersburg, Seymour, and Shelbyville. There are also branches in Lakewood, New York, and Whitakers, North Carolina, which were originally opened when the Credit Union was affiliated with Cummins Engine Company.

At this time, Centra CU has not announced how the 10-month One-Day Share Certificate can be opened (in-branch? online? phone?). CSR stated that information would be made available next week, although she didn’t know when next week. As soon as I can get a definitive answer, I will update this blog post.

Centra CU participates in the CO-OP Shared Branch network, allowing members to,

Visit over 5,000 convenient branch locations and more than 2,000 self-service locations covering all 50 states – simply have your credit union name, account number, and a government ID and you’ll have access to your accounts.

Use nearly 30,000 surcharge-free ATM locations—more than some of the biggest banks offer.

Credit Union Overview

Centra Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 1.50% (excellent) based on December 31, 2018 data. In the past year, Centra CU has increased its total non-brokered deposits by $48.86 million, an excellent annual growth rate of 4.13%. Please refer to our financial overview of Centra Credit Union (NCUA Charter # 68287) for more details.

Central Credit was established in 1940 as the Cummins Employees Federal Credit Union by eight Cummins Engine Company employees. At their first organizational meeting, these employees set credit union policies, including a maximum deposit of $7.50 per week and an unsecured loan limit of $25. The name was changed in 1995 to Centra Federal Credit Union, reflecting the company's growth and diversity. In 1997, the Credit Union adopted a state charter and rebranded as Centra Credit Union. Currently the fourth largest credit union in Indiana, Centra CU serves nearly 120,000 members and assets in excess of $1.4 billion.

How the One-Day Share Certificate Compares

When compared to 364 similar length-of-term CDs tracked by DepositAccounts.com that require a minimum deposit of $10k or less and are available within the FOM, Centra Credit Union’s 10-Month One-Day Share Certificate APY currently ranks first.

Interest RateCD Length of TermCredit Union/Bank
3.25% APY10-Month One-Day Share Certificate ($5k min/$100k max)Centra Credit Union
3.00% APY12-Month CD ($10k min/no max)CD Bank
2.86% APY1-Year CD ($1.5k min/$10m max)Comenity Direct

The above rates are accurate as of 5/17/2019.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Buffalo CD rates, Indianapolis CD rates, Louisville CD rates, Raleigh CD rates, 1-year CD rates

AnnO   |     |   Comment #1
On behalf of those in the right location, thanks for getting this posted in advance.
radler2560   |     |   Comment #2
Why does the qualification area map show New York State?
Carpline   |     |   Comment #3
From the Availability section above: "There are also branches in Lakewood, New York, and Whitakers, North Carolina, which were originally opened when the Credit Union was affiliated with Cummins Engine Company."
Hoosier   |     |   Comment #4
If the "black Friday" one day special matures on Saturday May 25 I would guess this promo begins on Thursday the 23rd and ends some time during the grace period of the black Friday deal.
Centra Credit Union (IN/KY) Adds 47-month Special Rate CD
Deal Summary: 47-month Special Rate Share Certificate, 2.40% APY ($100k), 2.25% APY ($1k)

Availability: Residents of 61 Indiana and seven Kentucky counties

Over the weekend, Centra Credit Union (Centra CU) added two Special Rate Share Certificates with tiered rates: 19-month (1.50 % APY, $500; 1.65% APY, $100k) and 47-month (2.25% APY, $1k; 2.40% APY, $100k). The 47-month is clearly the more competitive of the two.

According to CSR, the Early Withdrawal Penalty for any of Centra CU’s Share Certificates is “never more than six months interest.”


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