Collins CCU Adds New 15- And 28-Month Certificate Specials

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Deal Summary:

    15-month Certificate Special (1.51% to 1.71% APY, $1k to $250k min)

    28-month Certificate Special (1.91% to 2.12% APY, $1k to $250k min)

Availability: Residents of 38 eastern Iowa counties.

Over the past three years, Collins Community Credit Union (Collins CCU) has offered a variety of competitive Certificate Specials. The latest offerings were announced yesterday – a 15-month Certificate Special and a 28-month Certificate Special.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.12*%$250k-Collins Community Credit Union28 Month CD Special
OTHER TIERS: 1.91% $1k - $10k | 1.96% $10k - $50k | 2.01% $50k - $100k | 2.06% $100k - $250k
1.71*%$250k-Collins Community Credit Union15 Month CD Special
OTHER TIERS: 1.51% $1k - $10k | 1.56% $10k - $50k | 1.61% $50k - $100k | 1.66% $100k - $250k
Accounts mentioned in this post. Rates as of February 3, 2017.

Like all of Collins CCU’s Certificates, the two Certificate Specials have tiered APYs, based on the following deposit levels:

    15-month Certificate Special

    1.71% APY - $250k minimum

    1.66% APY - $100k minimum

    1.61% APY - $50k minimum

    1.56% APY - $10k minimum

    1.51% APY - $1k minimum

    28-month Certificate Special

    2.12% APY - $250k minimum

    2.06% APY - $100k minimum

    2.01% APY - $50k minimum

    1.96% APY - $10k minimum

    1.91% APY - $1k minimum

The Certificate Special is also being offered as an IRA Special (Traditional and Roth), earning the same APYs based on the same tiered balance levels.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.12*%$250k-Collins Community Credit Union28 Month IRA Special (Traditional, Roth)
OTHER TIERS: 1.91% $1k - $10k | 1.96% $10k - $50k | 2.01% $50k - $100k | 2.06% $100k - $250k
1.71*%$250k-Collins Community Credit Union15 Month IRA Special (Traditional, Roth)
OTHER TIERS: 1.51% $1k - $10k | 1.56% $10k - $50k | 1.61% $50k - $100k | 1.66% $100k - $250k
Accounts mentioned in this post. Rates as of February 3, 2017.

As stated in Collins CCU's Truth In Savings Disclosure document, the Early Withdrawal Penalty reads as follows:

If your account has an original maturity of more than one year:
The penalty we may impose will equal 180 days interest on the amount withdrawn.

Availability

Headquartered in Cedar Rapids, Collins Community Credit Union’s field of membership is residency based, with individuals who live or work in any of the following 38 eastern Iowa counties eligible to join:

Benton, Black Hawk, Boone, Bremer, Buchanan, Butler, Cedar, Clinton, Clayton, Dallas, Delaware, Des Moines, Dubuque, Fayette, Grundy, Henry, Iowa, Jackson, Jasper, Jefferson, Jones, Johnson, Keokuk, Linn, Louisa, Madison, Mahaska, Marion, Marshall, Muscatine, Polk, Poweshiek, Scott, Story, Tama, Warren, Washington, and Wapello.

Collins CCU also offers membership to,

Any existing member’s parents, children, grandparents, grandchildren, brothers, sisters,
great grandparents, great grandchildren, aunts, uncles, nieces, and nephews may join
Collins Community Credit Union regardless, if they’re related by marriage or blood.

Joining Collins CCU and/or opening a Certificate Special can be done online, or in person at any of 15 Iowa branches located in Cedar Falls, Cedar Rapids (6), Des Moines (3), Dubuque, Iowa City, Johnston, Marion, and North Liberty.

Credit Union Overview

Collins Community Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 3.98% (excellent), based on September 30, 2016 data. In the past year, Collins CCU has increased its total deposits by $78.3 million, an excellent annual growth rate of 11.05%. Please refer to our financial overview of Collins Community Credit Union (NCUA Charter # 62969) for more details.

Collins Community Credit Union’s origins can be traced back to 1932 when Arthur Collins, a ham operator, founded The Collins Radio Company. Collins CCU was founded in 1940 by ten Collins Radio employees who recognized the need for an alternative financial institution. In May 2014, Federal Employees Credit Union (Des Moines) voted to merge with Collins CCU, and in July 2014, the merger was complete. As a result of that merger, Collins CCU has become Iowa’s fourth largest credit union, with more than 70,600 members and assets in excess of $1 billion.

How the Certificate Specials Compare

When compared to the 284 similar length-of-term CDs tracked by DepositAccounts.com available to Iowa residents, Collins Community Credit Union’s 15-month Certificate Special highest APY currently ranks second, regardless of minimum deposit.

Interest RateCD Length of TermCredit Union/Bank
1.80% APY18-Month Bump-Up CD Special ($50k min)Community 1st Credit Union
1.71% APY15-Month Certificate Special ($250k min)Collins Community Credit Union
1.70% APY15-Month Jumbo Certificate ($100k min)Cedar Falls Credit Union

When compared to the 359 similar length-of-term CDs tracked by DepositAccounts.com available to Iowa residents, Collins Community Credit Union’s 28-month Certificate Special highest APY currently ranks first, regardless of minimum deposit.

Interest RateCD Length of TermCredit Union/Bank
2.12% APY28-Month Certificate Special ($250k min)Collins Community Credit Union
2.00% APY29-Month CD Special ($10k min)First Federal Credit Union
1.92% APY27-Month Share Certificate Special ($25k min)IntegrUS Credit Union

The above rates are accurate as of 3/2/2017.

To look for the best CD rates, both nationwide and in your state, please refer to our CD rates table, or our new Rates Map page.

Comments
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Availability: Residents of 38 eastern Iowa counties

Over the past two years, I have written about a number of competitive Certificate Specials offered by Collins Community Credit Union (Collins CCU). The newest was rolled out yesterday – a 19-month Certificate Special.

Like all of Collins CCU’s Certificate Specials, the 19-month has tiered APYs, based on the following deposit levels:

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