Centris Fed Credit Union (NE/IA) Adds Two Rate-Leading Jumbo CD Specials

Early Withdrawal Penalty

There is no Truth-in-Savings disclosure available on the Centris website, so I had to rely on CSR to provide the Early Withdrawal Penalty (EWP). CSR was able to tell me that CDs can only be closed early (no partial withdrawal possible), but the actual EWP is a bit of a mystery. According to CSR, the EWP is based on the balance in the CD and how much time is left before maturity. I asked for an example, but CSR wasn’t unable to provide one.

For what it’s worth, the EWPs were substantial the last time I when I wrote about Centris CDs: 360 days for a 14-month CD and 540 days for a 40-month CD.

Availability and Account Opening

Headquartered in Omaha, Nebraska, Centris Federal Credit Union’s field of membership (FOM) is community-based, with individuals who live, work, worship, or attend school in the Nebraska counties of Douglas, Lincoln, McPherson, or Sarpy, or Pottawattamie County, Iowa eligible for membership.

Joining Centris and/or opening a CD Special can be done at any of the eleven full-service Nebraska branches, located in Bellevue, Grand Island, LaVista, North Platte, Omaha (7), and Tryon, or the two Iowa branches in Council Bluffs. Appointments are available and can be scheduled online.

There is also an online “Contact Us” form to start the application process. Following submission, “a Centris representative will contact you within 24 business hours.”

Funding and Other Details

The following information is from a conversation with CSR.

Funding – ACH, wire ($15), check, or internal transfer.
CO-OP Shared Branch Participant – No.
Ownership – Individual, joint, or trust.
Dividends – Compounded/credited monthly, but must remain on deposit in the CD Special.
Maturing Funds – Wire ($15 fee), cashier’s check to address on file, or internal transfer to a savings or checking account.
Beneficiaries – Unlimited and percentages can be assigned, Social Security number and DOB required.
Grace Period – 7 calendar days before automatic renewal (11-month renews as a 12-month and 22-month renews as a 24-month).
Credit Check – ChexSystems.

Credit Union Overview

Centris Federal Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 9.24% (excellent), based on June 31, 2023 data. In the past year, Centris has increased its total non-brokered deposits by $63.68 million, an excellent annual growth rate of 7.13%. Please refer to our financial overview of Centris Federal Credit Union (NCUA Charter # 28) for more details.

Centris Federal Credit Union is currently Nebraska’s second largest credit union, with more than 126,000 members and assets in excess of $1.2 billion. Established in 1934 as the Omaha Telephone Employees Federal Credit Union, the original FOM included only Northwestern Bell Telephone employees.

In 1934 the employees started their credit union with less than $50 in deposits; by the end of 1934 our asset size had grown to $664. The maximum secured loan was $50 and the maximum unsecured loan was $25. Back then, the credit union was open for only a half hour one day per week, or by special appointment.

There have been two name changes – Bell Federal Credit Union (1974) and Centris Federal Credit Union (2000) – reflecting “changing economic environments and changing membership groups.”

How the 11-Month Jumbo CD Special Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com which are available within the FOM and have minimum deposit requirements of $100k or less, no banks or credit unions have higher rates than currently offered on the Centris Federal Credit Union 11-month Jumbo CD Special. The following table compares the 11-month Jumbo CD Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

How the 22-Month Jumbo CD Special Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com which are available within the FOM and have minimum deposit requirements of $100k or less, no other banks or credit unions have higher rates than currently offered on the Centris Federal Credit Union 22-month Jumbo CD Special. The following table compares the 22-Month Jumbo CD Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 9/25/2023.

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