City Credit Union (TX) Ups 12-Month CD Rate

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Deal Summary: CDs – 12-month (2.50% APY), 18-month (2.50% APY), 24-month (2.75% APY), 30-month (2.75% APY), 36-month (3.00% APY), 48-month (3.25% APY), and 60-month (3.50% APY), $500 minimum deposit. 12-month Jumbo CD (2.60% APY), $99k minimum deposit.

Availability: Residents of Cooke, Dallas, Denton, Ellis, Grayson, Kaufman, and Rockwall Counties, Texas

It’s been more than three years since I last wrote about City Credit Union, (City CU) but considering its new CD rates, it was worth the wait. City CU began the week with across-the-board increases of 100 bps on the majority of its CDs.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.25%$500-City CU (TX)60 Month CD
3.00%$500-City CU (TX)48 Month CD
2.75%$500-City CU (TX)36 Month CD
2.50%$500-City CU (TX)24 Month CD
2.25%$500-City CU (TX)12 Month CD
Rates as of November 18, 2018.

Any of the CDs can be open with a $500 minimum deposit, although the 12-month Jumbo CD requires a minimum $99k deposit; there are no stated balance caps.

The CDs (with the exception of the 12-month Jumbo CD) are also available as IRAs (Traditional and Roth) earning the same APYs, but with a lower minimum deposit of $250.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.25%$250-City CU (TX)60 Month IRA (Traditional, Roth)
3.00%$250-City CU (TX)48 Month IRA (Traditional, Roth)
2.75%$250-City CU (TX)36 Month IRA (Traditional, Roth)
2.50%$250-City CU (TX)24 Month IRA (Traditional, Roth)
2.25%$250-City CU (TX)12 Month IRA (Traditional, Roth)
Rates as of November 18, 2018.

As stated in the Certificate of Deposit Disclosure, the Early Withdrawal Penalty reads as follows:

Original term of 12 months or less – 90 days interest
Original term of greater than 12 months – 180 days interest

Maturing Funds

The grace period for withdrawing or transferring maturing funds is ten days. According to the Certificate of Deposit Disclosure,

If you do not renew your Certificate Account at maturity, interest will not accrue after the maturity date. Funds will be transferred into your Regular Savings Account, unless you direct us differently.

Availability

Headquartered in Dallas, City Credit Union’s field of membership (FOM) is primarily residency based, with individuals who live, work, worship, or attend school in the Texas counties of Cooke, Dallas, Denton, Ellis, Grayson, Kaufman, or Rockwall eligible to join.

In addition, employees and individuals associated with more than 180 businesses and associations (listed on the first page of the online application) are also eligible for membership.

Joining City CU and/or opening a CD can be done online, or in person at any of eight Texas branches located in Dallas (4), Duncanville, Gainesville, Sherman, and Waxahachie.

Credit Union Overview

City Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.49% (excellent) based on December 31, 2017 data. In the past year, City CU has increased its total non-brokered deposits by $13.06 million, an excellent annual growth rate of 4.02%. Please refer to our financial overview of City CU (NCUA Charter # 67669) for more details.

City Credit Union’s history began in 1942 with a mere $50 in deposits – the minimum amount required to qualify for a State of Texas Credit Union Charter. In August 1942, the first financial statement showed total assets of $1,821, total cash of $1,712, and $100 in loans. Over the past 76 years, City CU has grown to become Texas’ 55th largest credit union, with more than 36,100 members and assets in excess of over $408 million.

How the CDs Compare

When compared to 324 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available within the FOM, City Credit Union's 12-month CD APY currently shares the top spot with Connexus Credit Union’s 12-month Certificate APY. (Collateral trivia: when I last wrote about City CU in 2015, its 60-month CD earned 2.50% APY.)

When compared to similar length-of-term CDs tracked by DepositAccounts.com for a $100k deposit and available within the FOM, City Credit Union's 12-month Jumbo CD APY currently ranks first.

When compared to 310 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available within the FOM, City Credit Union's 24-month CD APY currently ranks second.

When compared to 298 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available within the FOM, City Credit Union's 36-month CD APY currently ranks first.

When compared to 245 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available within the FOM, City Credit Union's 48-month CD APY currently ranks first.

When compared to 260 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available within the FOM, City Credit Union's 60-month CD APY currently ranks first.

The above rates are accurate as of 5/24/2018.

To find the most competitive CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Dallas CD rates, Sherman CD rates, 1-year CD rates, 5-year CD rates

Comments
City CU (TX) Has Best Rate 60-month CD Available In Texas
Availability: Residents of Dallas, Cooke and Ellis counties in Texas

City CU (Texas) closed early today due to inclement weather, but not before raising the rate on its 60-month CD (2.50% APY). The minimum deposit is $500 and there is no balance cap.

The 60-month CD is also available as an IRA (Traditional and Roth) at the same APY, but with a minimum deposit of $250. A 60-month Youth CD (2.50% APY) is also being offered, but with a lower minimum deposit of $100.

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