Community Credit Union (FL) Adds Competitive 13-Month CD Special
For a limited time, Community Credit Union (CCU) is offering a 13-month CD Special earning 5.75% APY. The minimum opening deposit is $1k, with no stated balance cap. According to CSR, no end-date has been announced for the 13-month CD Special.
The 13-month CD Special is also available as an IRA CD Special (Traditional and Roth), earning the same APY with the same deposit requirements.
Early Withdrawal Penalty
As stated on the Truth-in-Savings disclosure, the Early Withdrawal Penalty (EWP) reads as follows:
Terms less than 25 months - 180 days dividends
According to CSR, the 13-month CD Specia can only be closed early, with the principal invaded to satisfy the EWP.
Availability
Headquartered in Rockledge, Florida, Community Credit Union’s field of membership (FOM) includes an easy membership requirement (EMR) for U.S. citizens/resident aliens (18 years or older) who live in Florida.
Limited Easy Membership: Individuals who are “associated” with ABATE (American Bikers Aiming Toward Education) of Florida, Inc., “a motorcycle rights organization addressing legislative and safety issues in Florida, are also eligible to join” Community Credit Union. An “At Large” 1 Year ABATE membership has a $22 fee, plus a $2 processing fee.
The CCU online membership application does not list an ABATE option. According to CSR, an ABATE membership must be established before joining CCU and you need to contact CCU Member Services (321.690.2328) with your ABATE membership information before applying.
Residency: Individuals who live, work, worship, attend school, or conduct business in the Florida counties of Brevard, Indian River, Orange, Osceola, Polk, or Volusia are eligible to join.
Employment: Employees of the Orange County (FL) educational system, health care, public information commerce, or public service are membership eligible.
Personal Relationship: Immediate family members of a current CCU member qualify for membership.
The CCU Who Can Join page provides more details about joining.
Account Opening
Joining Community Credit Union and/or opening a 13-month CD Special can be done online or at any of eight Florida branches located in Melbourne (4), Port St. John, Rockledge (2), or Titusville. Branch appointments are available and can be scheduled online.
Existing CCU members can also use the Mobile App or log in to eBranch Online Banking to open a 13-month CD Special.
A $5 minimum deposit in a Share Savings account is required to establish a CCU membership.
Funding and Other Details
The following information is from the CCU Truth-in-Savings disclosure and a conversation with CSR.
- Funding – Funds must be on deposit in a CCU Share Savings account when opening a CD.
- CO-OP Shared Branch Participant – No.
- Ownership – Individual or joint.
- Dividends – Compounded/credited monthly and can automatically transferred to CCU Share Savings.
- Maturing Funds – Cashier’s check to address on file or internal transfer to CCU Share Savings.
- Beneficiaries – Up to 3 with equal shares; Social Security number and DOB required.
- Grace Period – 10 calendar days before automatic renewal as a 12-month CD.
- Credit Check – Hard pull. Transunion, Experion, and Equifax are all utilized.
Credit Union Overview
Community Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 1.06% (excellent) based on June 30, 2023 data. In the past year, CCU has increased its total non-brokered deposits by $101.86 million, an excellent annual growth rate of 11.12%. Please refer to our financial overview of Community Credit Union (NCUA Charter # 60816) for more details.
Founded in 1953 as the Brevard County Teacher's Credit Union, the founding members were eight Titusville teachers who each deposited $5 into a share account. In its 70th year of continuous operation, CCU is currently the 22nd largest credit union headquartered in Florida, with more than 56,000 members and assets in excess of $1.1 billion.
How the 13-Month CD Special Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM and have minimum deposit requirements of $10k or less, one bank and two credit unions have higher rates than currently offered on the Community Credit Union 13-Month CD Special. The following table compares the 13-Month CD Special 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 12/1/2023.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.