Sunbelt FCU (MS) 2- And 3-Year CDs Are Almost Rate Leaders

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Deal Summary: Share Certificates – 24-month (1.30% APY) and 36-month (1.50% APY), $500 minimum deposit.

Availability: Residents of seven southern Mississippi counties.

Sunbelt Federal Credit Union’s (Sunbelt FCU) is offering competitive rates on its 24-month Share Certificate (1.30% APY) and 36-month Share Certificate (1.50% APY). Either Share Certificate can be opened with a $500 minimum deposit, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
0.65%$500-Sunbelt Federal Credit Union36 Month Share Certificate
0.55%$500-Sunbelt Federal Credit Union24 Month Share Certificate
Rates as of September 30, 2020.

As stated in the Rates & Services Charges disclosure, the Early Withdrawal Penalty reads as follows:

For certificates with a term of more than 12 months, the amount of the early
withdrawal penalty is 180 days dividends calculated on the amount withdrawn.

Availability

Headquartered in Laurel, Mississippi, Sunbelt Federal Credit Union’s field of membership (FOM) is primarily residency-based, with individuals who live, work, worship, attend school, or volunteer in the Mississippi counties of Jones, Pike, Simpson, or Wayne, or select parts of Covington, Forest, or Lamar Counties, eligible for membership.

Employees of more than 150 Select Employment Groups (including several Mississippi school districts) also qualify for membership.

Immediate family members of any current Sunbelt FCU member or membership-eligible individuals are also welcome to apply.

Joining Sunbelt FCU and/or opening a Share Certificate must be done at any of eight full-service Mississippi branches located in Ellisville, Hattiesburg (3), Laurel (2), Magee, and Waynesboro.

Establishing a Sunbelt FCU membership requires a minimum $5 deposit in a Regular Share savings account.

Sunbelt FCU participate in the CO-OP Share Branch network and the Allpoint ATM network.

Credit Union Overview

Sunbelt Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.91% (excellent) based on March 31, 2020 data. In the past year, Sunbelt FCU has increased its total non-brokered deposits by $11.13 million, an excellent annual growth rate of 6.13%. Please refer to our financial overview of Sunbelt Federal Credit Union (NCUA Charter # 8905) for more details.

Chartered in 1953, Sunbelt Federal Credit Union was originally known as the Masonite Employees Federal Credit Union. (Masonite is a type of engineered wood, which was patented in 1924 in Laurel, Mississippi, by William Mason, a friend and protégé of Thomas Edison.) The Credit Union’s name was changed to Central Sunbelt Federal Credit Union in 1983, following an FOM expansion that included a variety of employee groups. “Central” was dropped from the name in 2019, as the Credit Union’s footprint stretched across the state. Sunbelt FCU is currently the fourth largest credit union in Mississippi, with more than 37,500 members and assets in excess of $237 million.

How the Share Certificates Compare

When compared to 215 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Sunbelt Federal Credit Union's 36-month Share Certificate APY currently ranks second.

When compared to 216 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Sunbelt Federal Credit Union's 24-month Share Certificate APY currently ranks second.

The above rates are accurate as of 8/19/2020.

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

Related Pages: Hattiesburg CD rates, Jackson CD rates, 5-year CD rates

Comments
Sunbelt Fed Credit Union's Advantage Checking Has Competitive Rate
Deal Summary: Advantage Checking, 3.00% APY on qualifying balances between $100 and $20k.

Availability: Residents of seven Mississippi counties.

Last week, I discussed the competitive long-term Share Certificates currently available at Sunbelt Federal Credit Union (Sunbelt FCU). Another competitive product offered by Sunbelt FCU is their rewards checking account (RCA), Advantage Checking, which currently earns 3.00% APY on qualifying balances between $100 and $20k. Qualifying balances over $20k earn 0.50% APY, with non-qualifying balances earning 0.25% APY.

Sunbelt FCU has a long history of having...

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Sunbelt Federal Credit Union (MS) Long-Term CDs Remain Competitive
Deal Summary: Share Certificates – 36-month (1.91% APY), 48-month (2.27% APY), 60-month (2.52% APY), $500 minimum deposit.

Availability: Residents of seven Mississippi counties.

The rates on Sunbelt Federal Credit Union’s (Sunbelt FCU) 36-month Share Certificate (1.91% APY), 48-month Share Certificate (2.27% APY) and 60-month Share Certificate (2.52% APY) have been in effect for almost a year. Any of the Share Certificate can be opened with a $500 minimum deposit, with no stated balance cap.

As stated in the Rates & Services Charges disclosure, the Early Withdrawal Penalty...

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Updated Review of Reward Checking Account at Central Sunbelt FCU in MS

All reward checking accounts that have been around for at least five years have seen at least some rate cuts, and many have also had balance cap reductions. Several have been big disappointments with large cuts, but there are a few that have held up well. One of those is the Advantage Checking account at Central Sunbelt Federal Credit Union in Mississippi. I first reviewed this account in June 2008 when it had a 6% APY with a $25K balance cap. Below are the new rates and balance cap listed...

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4.00% Reward Checking Account at a Mississippi CU (Central Sunbelt)
Update 9/07/09: The top rate has fallen to 4.00% APY.

Central Sunbelt FCU is offering a rewards checking account that pays 4.00% APY on balances up to $25,000 (1.02% for above) and refunds ATM fees up to $25 per cycle if the following monthly requirements are met:
  • 10 debit card purchases
  • one direct deposit or ACH debit
  • receive electronic statements
If these are not met, the rate falls to 0.50%. There are no minimum balance requirements and no monthly service charges.

Membership is primarily based on select employee groups. Please refer to their Membership Page...




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