Chevron FCU (Easy Membership) Raises Certificate Rates


Availability: Easy membership requirement

California-based Chevron Federal Credit Union (CFCU) hasn’t had any of its Share Certificates listed in DA’s CD Rates Summary for a few months. Next week’s Summary will include several of CFCU’s Super Share Certificates, following recent rate increases. While these 10 basis point increases aren’t “wow-worthy”, it’s good to see a large, “easy access” credit union back in the game.

CFCU has four APYs for all of its Certificates, based on tiered deposit levels ($500, $50k, $100k, and $250k). The table below is a sampling of some of the more competitive Super Share Certificates.

The Share Certificates are also available as IRAs (Traditional and Roth) earning the same APYs, with the same funding requirements.

As stated in the Disclosure document (Section X), the Early Withdrawal Penalty reads as follows:

(1) If your account has an original maturity of one year or less: The penalty we may impose will equal three months of dividends on the amount withdrawn subject to penalty.
(2) If your account has an original maturity of more than one year through two years: The penalty we may impose will equal six months of dividends on the amount withdrawn subject to penalty.
(3) If your account has an original maturity of more than two years through three years: The penalty we may impose will equal nine months of dividends on the amount withdrawn subject to penalty.
(4) If your account has an original maturity of more than three years: The penalty we may impose will equal 12 months of dividends on the amount withdrawn subject to penalty.

Fall Membership Drive

There’s less than two weeks left for CFCU members to receive $25 for referring a friend. New members can earn up to $50 for joining. Complete details can be found in the November 2016 issue of e.connection, CFCU’s newsletter.


Headquartered in Oakland, California, Chevron Federal Credit Union’s field of membership (FOM) is detailed on the Membership page, and the last option, “Members of the select, partner non-profit associations,” provides a way for almost anyone to join.

Easy Membership Requirement - Joining any of three Non-Profit Partner Associations (Contra Costa County Historical Society, Tree Musketeers, Navy League of the United States) qualifies for membership. Links to each association’s application are included on the Non-Profit Partner Associations page. “Please submit your association application with your CFCU application so that we may help you with your new membership.”

Residency - Individuals who live, work, worship, or attend school in 15 San Francisco neighborhoods are eligible for membership, as are those who live, work, worship, or attend school in the Maryland cities/towns of Emmitsburg, Frederick, Thurmont, Woodsboro, and the surrounding Frederick County areas.

Employment - Employees of several companies, including the Chevron Corporation and its wholly-owned subsidiaries, also qualify for membership.

Relationship - Family members of current CFCU members, including “parents, grandparents, children, grandchildren, spouse or domestic partner, siblings — even roommates or unrelated persons who live with you and share your household expenses,” are also eligible to join.

Joining CFCU and/or opening a CD can be done online, or in person at any of 20 branches located in California (9), Colorado, Louisiana, Mississippi, Texas (6), and Utah (2).

Credit Union Overview

Chevron Federal Credit Union (NCUA Charter # 24326) has an overall health grade of "A" at, with a Texas ratio of 2.02% (excellent) based on June 30, 2016 data. In the past year, CFCU has increased its total deposits by $258.18 million, an excellent annual growth rate of 10.98%. Please refer to our financial overview of Chevron Federal Credit Union for more details.

Chevron Federal Credit Union was originally established in 1935 for the benefit of Standard Oil Company employees. Between 2011 and 2013, the Credit Union merged with four other credit unions (Stewart FCU, Star Energy CU, Spectrum FCU, and Chevron West CU) and today is California’s 12th largest credit union. CFCU is also the 60th largest credit union in the country, with more than 106,000 members and assets in excess of $2.9 billion.

The above rates are accurate as of 11/18/2016.

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

  |     |   Comment #1
Canary in the coal mine? Perhaps. With the 10-year nudging over 2.3% today, and easy membership, this offer will put pressure on others to follow suit, I suspect. The "super-share" (aka jumbo) IRA CD is extremely attractive for retirees who are in RMDs and harvest income as a result. Had this been on offer a few months back, my IRA CD would have gone there, rather than Patelco. A 20 bps "delta". C'est la vie.
  |     |   Comment #2
I wonder how many people have a single CD with $250,000? I would prefer to ladder that amount in a larger number of CD's. I prefer Andrews with 3% and lower EWP.
  |     |   Comment #3
Valid point. The $250K "minimum" for the 5-year effectively restricts the offering to those who plan to harvest interest, if they wish to remain within NCUA insurance limits. I hadn't thought of the fact there really aren't that many folks in that sub-set.

A better benchmark would be the $100K minimum, where the 2.05% yield is available to more folks.

Good catch. Feel free to pry me out of my bubble, as I say to my wife.   
2.30% 20-Month CD Special at Chevron FCU in California - Limited Membership

Chevron Federal Credit Union is offering two competitive CD specials: a 1.90% APY 15-month CD and a 2.30% APY 20-month CD. Minimum deposit is $500. These specials are listed in the credit union's promotions page as of 3/12/2010. According to the credit union, these are scheduled to last until 3/19/2010 or until the promotional limit is reached.

As you might expect, Chevron employees and employees of related companies can be eligible to join. In addition to employee groups, you can also be eligible to join if you live, work, attend school...

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4.15% 10-Month CD at a Multi-State CU (Chevron).
Update 5/10/08: The 10-month CD special is no longer listed at the credit union's website.

Chevron Federal Credit Union has a special 10-month CD with a yield of 4.15% APY. The minimum deposit is $500, and it's also available for Traditional and Roth IRAs.

As the name would suggest, membership is primarily limited to those who have some working relationship with Chevron. So membership is pretty narrow. Please refer to their Eligibility Search Page for more details. Membership requires a minimum balance of $25 in the savings account.

Branches are located in...

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