CoastLife Credit Union (TX) Adds Competitive 15-Month CD Promo

POSTED ON BY

Deal Summary: 15-month CD Promo, 3.09% APY, $1k minimum deposit.

Availability: Six Texas Gulf Coast counties

CoastLife Credit Union (CoastLife) has had only three CDs in its product line in the almost 12 years DA has been tracking their rates. For a limited time, CoastLife will be offering a fourth – a 15-month CD Promo, which earns 3.09% APY. The CD Promo can be opened with a $1k minimum deposit and there is no stated balance cap.

The CD Promo is also available as an IRA CD Promo (Traditional, Roth, CESA), earning the same APY with the same deposit requirements.

In a previous blog post, I pointed out the seemingly incomprehensible Early Withdrawal Penalty (EWP), which can be found in the Truth-in-Savings disclosure. Here’s how it reads and I’ve bolded the single word that causes the confusion.

Amount of Penalty. For Certificate accounts, the amount of early withdrawal
penalty for your account is 50% of the remaining days left and the original amount.

If you change “and” to “on,” the meaning becomes clearer, although it’s still needs some translation. The EWP is 50% of the dividends that would be earned during the remaining days of the term based on the original amount deposited in the CD. In other words, the penalty is levied on the entire deposit, not on the amount that’s being withdrawn.

Funding can be done by ACH, wire transfer, check, or internal transfer. Maturing funds will be distributed by cashier’s check to the address on file or transferred into a CoastLife checking or savings account. There is a 7 calendar day grace period before automatic renewal.

Dividends are compounded and credited monthly. As stated in the Truth-in-Savings disclosure,

For Certificate accounts, dividends must be added to the certificate OR
have dividends paid out (paid by check or transferred to another account).

Unlimited beneficiaries (equal shares) can be designated, with Social Security numbers required for all named beneficiaries.

Availability

Headquartered in Corpus Christi, CoastLife Credit Union’s field of membership (FOM) is primarily community-based, offering membership to individuals who live or work in the Texas Gulf Coast counties of Aransas, Duval, Jim Wells, Kleberg, Nueces, or San Patricio.

Immediate family members (defined as spouse, child, sibling, parent, grandparent, grandchild, stepparent, stepchild, stepsibling and adoptive relationships) of current CoastLife members are also eligible to join.

The CoastLife Membership page lists more than 30 other ways to qualify for membership, including employment at 80+ companies, schools (including Texas A&M – Corpus Christi), and school districts.

Members of the Texas A&M University-Corpus Christi Alumni Association also qualify for membership, regardless of where they live.

Joining CoastLife and/or opening a CD Promo can be done at any of the eight full-service Texas branches, which are located in Alice, Corpus Christi (5), Kingsville, and Portland. Current CoastLife members can also open CD by contacting the Call Center (361.958.6810).

There is no online membership application, but the Membership Application Account Card is available as a download and can be submitted via fax or email.

Take the first step to becoming a member of our Credit Union family by
opening a savings account with only a $5 deposit and a one-time $5 fee.

Credit Union Overview

CoastLife Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.69% (excellent) based on March 31, 2022 data. In the past year, CoastLife has increased its total non-brokered deposits by $41.46 million, an excellent annual growth rate of 11.21%. Please refer to our financial overview of CoastLife Credit Union (NCUA Charter # 68482) for more details.

Chartered in 1965 as Coastal Community and Teachers Credit Union, the CoastLife rebrand occurred in December 2020. As stated in the Name Change FAQs,

Why are we changing our name? A fresh look and a new name to depict the culture of our credit union was needed. We serve many families in our community – not just one industry. Residents of our counties need to know we are there for them throughout their life. CoastLife is not a place, it’s a feeling. A financial institution that helps you learn about financial literacy, grow in your knowledge, and succeed in life. Learn. Grow. Succeed.

CoastLife Credit Union is currently the 63rd largest credit union headquartered in Texas, with more than 37,400 members and assets in excess of $473 million.

How the 15-month CD Promo 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 $10k or less, only one bank has a higher rate than currently offered on the CoastLife Credit Union 15-month CD Promo. The following table compares the 15-month CD Promo to the two highest-rate CDs from other credit unions and to the two highest-rate CDs from banks.

The above information and rates are accurate as of 8/4/2022.

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

Related Pages: Corpus Christi CD rates, 1-year CD rates

Comments
CoastLife Credit Union (TX) Bonus Checking Offers Competitive Rates
Deal Summary: Bonus Checking, 3.56% APY on qualifying balances up to $10k; 0.50% APY on qualify balances above $10k.

Availability: Six Texas Gulf Coast counties

CoastLife Credit Union (formerly known as Coastal Community and Teachers Credit Union) has been offering its rewards checking account, Bonus Checking, for nearly 11 years. The current 3.56% APY on qualifying balances up to $10k has been in effect for almost eight years. Qualifying balances >$10k earn 0.50% APY (an unusually high second-tier rate), with non-qualifying balances earning 0.10% APY.

Continue Reading
CoastLife Credit Union (TX) CDs Offer Very Competitive Rates
Deal Summary: CDs – 12-month (1.12% APY), 24-month (1.26% APY), 36-month (1.36% APY), $1k minimum deposit.

Availability: Six Texas Gulf Coast counties

CoastLife Credit Union (formerly known as Coastal Community and Teachers Credit Union) has only three CDs in its product line, but all three offer the highest rates available within the field of membership. The 12-month and 24-month CDs currently offer the highest APYs for 1-year and 2-year CDs available in Texas. The minimum opening deposit is $1k, with no stated balance cap.

Continue Reading
Coastal Community and Teachers Credit Union Has Top-Rate 24-Month CD
Deal Summary: 24-month CD (1.66% APY), 12-month CD (1.41% APY), $1k minimum deposit.

Availability: Aransas, Duval, Jim Wells, Kleberg, Nueces, and San Patricio Counties, Texas.

The 1- and 2-year CDs offered by Coastal Community and Teachers Credit Union (CCATCU) currently have two of the highest CD APYs in Texas. The 24-month CD (1.66% APY) and 12-month CD (1.41% APY) can be opened with a minimum $1k deposit.

In my January blog post about CCATCU’s 12-month CD Special (no longer available), I made mention of the seemingly incomprehensible...

Continue Reading
Coastal Community And Teachers Credit Union Has Top-Rate 12-Month CD
Deal Summary: 12-month CD Special, 2.27% APY, $5k minimum deposit.

Availability: Aransas, Duval, Jim Wells, Kleberg, Nueces, and San Patricio Counties, Texas.

Coastal Community and Teachers Credit Union (CCATCU) recently added a 12-month CD Special to its product line. Earning a competitive 2.27% APY, the 12-month CD Special requires a minimum $5k opening deposit.

I’ve had a run of bad luck lately determining Early Withdrawal Penalties (EWP) – either the CSRs don’t have the information or I’m given a ludicrous answer. (My favorite so far...

Continue Reading
Coastal Community & Teachers CU (TX) Has 2 Reward Checking Accounts
Availability: Residents of Aransas, Duval, Jim Wells, Kleberg, Nueces, and San Patricio Counties, Texas.

Coastal Community and Teachers Credit Union (CCATCU) offers two Rewards Checking Accounts - REAL Checking and Bonu$ Checking, both of which earn 3.56% APY on qualifying balances up to $10k. Qualifying balances over $10k earn 0.50% APY, with non-qualifying balances earn 0.10% APY.

The only difference between the two accounts is that the REAL Checking account has a companion REAL Savings account that earns 0.75% APY on all balances.

The Bonu$ Checking is the older...

Continue Reading

More Past Offers



The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.