The latest institution to offer a CD with a 3.00% APY is Coastal Credit Union (Coastal CU). This time it’s not on a 5-year term, but for a much shorter 39-month term. The minimum deposit for the 39-month CD is a low $250, with no stated balance cap.
The 39-month CD is also offered as an IRA (Traditional, Roth, SEP, CESA) earning the same APY, with the same $250 minimum deposit.
According to the Just The Facts product guide, the Early Withdrawal Penalty reads as follows:
For accounts with terms greater than 12 months, the penalty for your
account will be $25.00 or 365 days of dividends, whichever is greater.
Go Green Checking
For many years, the Go Green Checking has been offering three APYs, based on debit card activity. The 2.25% APY, on qualifying balances up to $10k, has been in effect for more than two years.
- 2.25% APY – 30 or more debit card transactions per month
- 0.51% APY – 12-29 debit card transactions per month
- 0.10% APY – 0-11 debit card transactions per month
While Coastal CU doesn’t have a companion savings account, it does offer the Go Green Money Market account that uses the same debit card activity parameters for qualify balances up to $250k. The top APY was raised about two weeks ago.
- 1.25% APY – 30 or more debit card transactions per month
- 0.35% APY – 12-29 debit card transactions per month
- 0.35% APY – 0-11 debit card transactions per month
The Go Green Checking has no minimum balance requirement or monthly service fee. While the Go Green Money Market is also fee free, it does requires a minimum $100 opening deposit. There is a limit of one Go Green Checking account and one Go Green Money Market account per Social Security Number.
According to the fine print on the Checking page,
The first five non-Coastal ATM withdrawals during a specific month are free of charge. Every withdrawal after is charged a $2.00 non-Coastal ATM fee. There is no fee (surcharge) from the ATM owner when you use a CO-OP, Allpoint, CashPoints or Sheetz ATM.
Headquartered in Raleigh, North Carolina, Coastal Credit Union’s field of membership (FOM) provides a way for almost any North Carolina resident to join.
Easy Membership - A one-time tax-deductible $18 membership fee to the North Carolina Sustainable Energy Association (NCSEA) qualifies for Coastal CU membership. The NCSEA $18 fee will be deducted from the initial deposit to your Coastal Primary Savings account.
Employment/Affiliation - Employees and members of more than 1,000 Business Partners are eligible to join.
Residency - Individuals who live, work, worship, or attend school in Vance County, North Carolina, qualify for membership. In addition, the residents of the North Carolina cities and towns of Airlie, Arcola, Aurelian Springs, Brinkleyville, Castalia, Dortches, Enfield, Halifax, Heathsville, Hollister, Leggett, Littleton, Nashville, Red Oak, Rocky Mount, Scotland Neck, Speed, Tarboro, Tillery, Weldon, West Edgecombe, Whitakers, Woodcrest Park, and Wrendale are eligible to join.
Relationship - Membership is also extended to immediate family (spouse, child, sibling, parent, grandparent or grandchild, including adoptive and step relations) and household members (persons living in the same residence maintaining a single economic unit) of eligible members.
Joining Coast CU and/or opening a CD can be done online, or at any of 17 North Carolina branches located in Apex, Carrboro, Cary (3), Durham (2), Garner, Henderson, Morrisville, Raleigh (6), and Rocky Mount.
Credit Union Overview
Coastal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.31% (excellent) based on December 31, 2017 data. In the past year, Coastal CU increased its total non-brokered deposits by $152.56 million, an excellent growth rate of 6.53%. Please refer to our financial overview of Coastal Credit Union (NCUA Charter # 18297) for more details.
Establish in 1967 to benefit the IBM community in Raleigh, the Credit Union’s FOM changed in 1991, when it expanded to include employees of other businesses through the Triangle and other North Carolina areas. Now known as Coastal Credit Union, it has grown to become the second largest credit union in North Carolina, with more than 242,000 members and assets in excess of $2.9 billion.
On Valentine’s Day, we paid out our Loyalty Bonus dividend. More than 51,000 members earned a share of the $2.5 million payout. Both figures are our largest totals ever.
Over the past seven years, we’ve given back more than $14.2 million through the Loyalty Bonus and its predecessor program.
How the CD Compares
When compared to the 259 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available within the FOM, Coastal Credit Union's 39-month CD APY currently tops the list.
The above rates are accurate as of 3/20/2018.
To search for the best CD rates, both in your state and nationwide, please refer to our CD Rates Table.