Cobalt Credit Union (IA/NE) Offers Competitive 18-Month CD Rates


Deal Summary: 18-Month Term Share Certificate, 2.00% APY ($100k min), 1.90% APY ($1k min).

Availability: Six eastern Nebraska counties (greater Omaha area) and nine western Iowa counties.

Nebraska-based Cobalt Credit Union (the former SAC Federal Credit Union) is currently offering a competitive 2.00% APY ($100k minimum) and 1.90% APY ($1k minimum) on its 18-Month Term Share Certificate (TSC). Since mid-February, the 18-month TSC has had four rates increases, adding a total of 145 bps.

4.05*%$100k-Cobalt Credit Union18 Month IRA Term Share (Traditional, Roth)
OTHER TIERS: 4.00% $1k - $100k
4.05*%$100k-Cobalt Credit Union18 Month Term Share Certificate
OTHER TIERS: 4.00% $1k - $100k
Rates as of December 9, 2022.

The 18-month TSC is also available as an IRA TSC (Traditional and Roth), earning the same tiered APYs with the same deposit requirements.

According to CSR, the Early Withdrawal Penalty is 180 days of dividends on the amount being withdraw, plus a $25 administrative fee. CSR also mentioned that dividends are compounded and credited quarterly, so the most financially advantageous time to make a withdrawal would be at the beginning of a quarter and not at the end.

Funding a TSC can be done by ACH, wire transfer, check, or internal transfer from a Cobalt CU checking or savings account. Maturing funds will be distributed by check to the address on file or transferred into a Cobalt CU checking or savings account.

Unlimited beneficiaries can be named, with each beneficiary assigned an equal share. A Social Security number is required for each beneficiary.


Headquartered in Papillion, Nebraska, Cobalt Credit Union’s field of membership (FOM) is primarily community-based, with individuals who live, work, worship, attend school, or regularly do business in the Nebraska counties of Cass, Douglas, Sarpy, Saunders, or Washington, or the Iowa counties of Carroll, Crawford, Harrison, Ida, Mills, Monona, Pottawattamie, Sac, or Shelby eligible to join.

Employees and retirees of the SpartanNash grocery store chain are also qualify for membership.

Immediate family members of the above-mentioned individuals qualify for membership. In this instance, "immediate family members" is defined as spouse, child, sibling, parent, grandparent, grandchild, stepparents, stepchildren, stepsiblings, and adoptive relationships.

Joining Cobalt CU and/or opening a Term Share Certificate can be done online, or in person at any of 22 Nebraska branches located in Bellevue (2), Blair, Freemont, Gretna, Lincoln, Offutt AFB (2), Omaha (11), Papillion (3), and Plattsmouth, or the three Iowa branches located in Council Bluffs (2) and Denison.

A $5 minimum deposit in a Share Savings account establishes a Cobalt CU membership.

Credit Union Overview

Cobalt Credit Union has an overall health grade of "A" at, with a Texas Ratio of 1.44% (excellent) based on December 31, 2021 data. In the past year, Cobalt CU has increased its total non-brokered deposits by $76.32 million, an excellent annual growth rate of 8.84%. Please refer to our financial overview of Cobalt Credit Union (NCUA Charter # 5400) for more details.

Cobalt Credit Union is currently Nebraska’s largest locally-owned financial institution and largest credit union, with nearly 110,000 members and assets excess of $1.1 billion. Founded in 1946 as SAC Federal Credit Union, it was originally located at Andrews Field, Maryland, the headquarters of the Strategic Air Command (SAC). When SAC was moved to Offutt Air Force Base in Omaha, the credit union naturally followed.

The Cobalt rebrand occurred in late 2018 and was part of a planned expansion and proposed charter change. According to a Credit Union Journal August 2018 article,

The name change took effect August 1 as the credit union simultaneously pursues a charter change that will allow for further expansion.

Cobalt CU has been open to all local residents for more than a decade, but research conducted in 2017 showed that 58 percent of all community members perceived the credit union as only open to military personnel.

Under our current federal charter, we are unable to expand into additional counties,” DeBoer [Cobalt president/CEO] added. “We want to be a trusted resource throughout Iowa and Nebraska, and this proposed change in charter enables us to do that.”

How the 18-Month Term Share Certificate Compares

When compared to the similar length-of-term CDs tracked by that are available within the FOM, one bank and two credit unions have higher rates than currently offered on the Cobalt 18-Month Term Share Certificate, regardless of minimum deposit. The following table compares the 18-Month Term Share Certificate to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 5/13/2022.

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

Related Pages: Omaha CD rates, Lincoln CD rates, 1-year CD rates

Cobalt Credit Union (NE/IA) Adds 30-Month CD Special
Deal Summary: 30-month Certificate Special, 3.35% APY, $1k minimum deposit.

Availability: Residents of five eastern Nebraska counties (greater Omaha area) and nine western Iowa counties.

Nebraska-based Cobalt Credit Union (formerly known as SAC Federal Credit Union) has unveiled a 30-month Certificate Special, which earns 3.35% APY. This limited-time offer can be opened with a $1k minimum deposit.

The Certificate Special promotion page states “earn up to 3.35% APY.” According to CSR, the “up to” is just a caveat to cover any early...

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SAC FCU (NE/IA) High Yield Checking Still Competitive
Availability: Residents of five eastern Nebraska counties (greater Omaha area) and 3 western Iowa counties.

Nebraska-based SAC Federal Credit Union’s (SAC FCU) High Yield Checking earns 3.01% APY on qualifying balances up to $10k. Qualifying balances over $10k and non-qualifying balances earn 0.05% APY.

When the High Yield Checking account was first introduced in August 2010, the APY was 4.01% on qualifying balances up to $25k. The 4.01% APY lasted for nine months and then dropped to 3.01% APY, which remained in effect for a little...

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High-Yield Reward Checking at SAC Federal Credit Union in NE & IA - Local Only

SAC Federal Credit Union is offering a high-yield reward checking account with the following rates and features if certain monthly requirements are met (as of 8/01/2010):

  • 4.01% APY for balances up to $25,000
  • 0.25% APY for balances over $25,000
  • 0.10% APY if requirements are not met
  • ATM fee refunds up to $10 per month

Monthly requirements include:

  • 12 debit card purchases
  • Receive e-statements

Other account features include:

  • $100 minimum opening deposit
  • No minimum balance
  • No monthly service charge

According to the credit union's Open New Account page:

Branches are located in the Nebraska cities of Omaha and Bellevue and in the Iowa city...

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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.