In the past eight months, I’ve written three blog posts about a variety of limited-time CD Specials offered by Community First Credit Union (Community First). The last of those competitive CD Specials has expired, but the majority of Community First’s regular CDs have become rate-leaders, as the musical-chair rate changes continue. All of these CDs can be opened with $1k minimum opening deposit and have no stated balance caps.
The CDs are also available as IRAs (Traditional, Roth, and CESA) earning the same APY, with the same deposit requirements.
According to CSR, all CDs have an Early Withdrawal Penalty of 180 days interest, with partial withdrawals permitted.
Dividends are compounded/credited monthly and can be added back into the CD, transferred to another Community First account, or a check can be mailed to the address on file.
Maturing funds will be distributed through a check or transferred into an existing Community First checking or savings account.
Headquartered in Neenah, Wisconsin, Community First Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, or attend school in the Wisconsin counties of Brown, Calumet, Fond du Lac, Green Lake, Kewaunee, Manitowoc, Oconto, Outagamie, Shawano, Sheboygan, Waushara, Waupaca, or Winnebago, eligible to join.
Community First had planned on re-opening the lobbies of all 25 Wisconsin branches on July 6, 2020, but,
current trends have put those plans on pause for the health and safety of everyone. We encourage you to continue to visit our drive-thrus, call or make an in-person appointment.
According to CSR, making an in-person appointment can be done by calling 920.830.7200.
It’s easy and can be done days in advance or on short notice,
even from the parking lot. We will be glad to welcome you.
After your new membership is approved, opening a CD can be done by phone or by special appointment.
Current Community First members can open a CD by phone (920.830.7200 or 866.273.2328), by using the Online Banking platform, or by scheduling an in-branch appointment. (IMO, it’s surprising that credit union as large as Community First has no online membership application.)
Your Community First Regular Savings account establishes your Community First membership. A $5 minimum deposit gives you a share of ownership and access to all benefits of credit union membership.
Credit Union Overview
Community First Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 1.14% (excellent) based on June 30, 2020 data. In the past year, Community First has increased its total non-brokered deposits by $584.52 million, an excellent annual growth rate of 21.75%. Please refer to our financial overview of Community First Credit Union (NCUA Charter # 66642) for more details.
While most credit unions owe their existence to groups of people with common bonds joining forces, Community First Credit Union seems to have been single-handedly established by Maurice Dresang. In 1953, Dresang organized the Outagamie County Credit Union and was subsequently asked in 1966 to manage the Zwickernit Credit Union, and the Postal Employees Credit Union in 1969. In 1970, Dresang brought all three credit unions under one roof at the Appleton Credit Union Service Center.
The Appleton Area Credit Union (composed of Outagamie, Zwikernit and Postal Employees CUs) obtained a charter in 1975 and merged with the 13 Service Center credit unions in less than three years. The Community First Credit Union re-brand occurred in 1983. As Wisconsin’s third largest credit union, Community First currently has more than 143,000 members and assets in excess of $3.8 billion.
How the CDs Compare
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, all of Community First Credit Union's CD APYs currently rank first.
The above rates are accurate as of 9/7/2020.
Looking for the best CD rates, either nationwide or state-specific? Please refer to our CD Rates Table page.