For a limited time, Clearpath Federal Credit Union (Clearpath) is offering three very competitive Certificate Specials: 18-month (2.27% APY), 24-month (2.43% APY), and 36-60 month (2.53% APY). The minimum opening deposit for any of the Certificate Specials is $10k of new money, which is defined as funds “not on deposit with Clearpath FCU at or within 90 days prior to account opening.”
The Certificate Specials are also offered as IRAs (Traditional and Roth), earning the same APYs, but requiring a $500 minimum opening deposit.
Dividends are compounded every month and can be credited to the Certificate Special, transferred to another Clearpath account, or mailed to the account holder’s address on file.
As stated in the Truth-in-Savings disclosure, the Early Withdrawal Penalty (EWP) reads as follows:
If your account has an ongoing maturity of one year or more: The penalty we may impose will equal 90 days dividends or $10 which ever is greater on the amount withdrawn subject to penalty.
An EWP of 90 days for any term length greater than one year is very mild.
At maturity, a Certificate Special automatically rolls over to the nearest shorter-term standard certificate. There is a grace period of ten calendar days to withdraw the funds without a penalty.
Headquartered in Glendale, California, Clearpath Federal Credit Union’s field of membership (FOM) provides a path to membership for virtually all residents of Southern California by joining the Clear Giving Charitable Association ($5 one-time donation).
Clear Giving Charitable Association is a nonprofit association that promotes and supports the philanthropic activities of select non-profit 501(c)(3) charities within the greater Southern California area.
The fourth option on the online application reads,
I would like to join the Clear Giving Charitable Association which makes me eligible to join Clearpath FCU. (C.U. Membership is subject to payment of $5 initial Clear Giving Dues.)
Also qualifying for Clearpath membership are,
- Employees/retirees of Ralphs Grocery Company or Food for Less (Southern California),
- California employees/voting member of 40 companies/associations, and
- Relatives of current Clearpath members, including “spouse, domestic partner, children, siblings, parents, grandparents, grandchildren, aunts, uncles, nieces, nephews, cousins and in-laws.”
While Clearpath’s regular CDs (aka Clearly Better Savings Certificates) are listed on the online application, the Certificate Specials aren’t. CSR suggested submitting an online application first, then calling Clearpath to open a Certificate Special over the phone.
A minimum $1.00 initial deposit into your Share Savings Account is all you need for access to all Credit Union products.
Clearpath participates in both the CO-OP Shared Branch and ATM networks.
Conduct business just as if you were in a Clearpath branch. Make deposits, withdrawals, loan payments or Visa® cash advances. Many have Saturday hours! All you'll need is your Clearpath account number and a picture ID.
Credit Union Overview
Clearpath Federal Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 2.95% (excellent) based on September 30, 2019 data. Clearpath has an excellent capitalization level (11%), the result of holding $123.08 million in assets with $13.54 million in equity. Please refer to our financial overview of Clearpath Federal Credit Union (NCUA Charter # 9556) for more details.
Founded in 1954 as the Ralphs Employees Federal Credit Union, the Credit Union’s original FOM included the Ralphs Grocery Company employees exclusively. (Ralphs Grocery Company was founded in 1873 by the Ralphs brothers, George and Walter, and is the oldest grocery chain west of the Mississippi.) Following an ongoing expansion of the FOM, the Clearpath rebrand occurred in 2006, giving "the credit union the opportunity to re-target and re-approach a large market of potential members and should also help solidify existing member relationships.” Clearpath currently serves more than 12,500 member and holds assets in excess of $123 million.
How the Certificate Specials Compare
When compared to 222 similar length-of-term CDs tracked by DepositAccounts.com that are available in Southern California and require a minimum deposit of $10k or less, Clearpath Federal Credit Union's 18-month Certificate Special APY currently ranks first.
When compared to 300 similar length-of-term CDs tracked by DepositAccounts.com that are available in Southern California and require a minimum deposit of $10k or less, Clearpath Federal Credit Union's 24-month Certificate Special APY currently ranks first.
When compared to 293 similar length-of-term CDs tracked by DepositAccounts.com that are available in Southern California and require a minimum deposit of $10k or less, Clearpath Federal Credit Union's 36-60 month Certificate Special APY currently ranks second.
The above rates are accurate as of 2/5/2020.
To search for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.