Since 2015, Community First Credit Union (Community First) has been offering competitive limited-time CD Specials. This past January, Community First unveiled a 16-month CD Special, earning 2.30% APY; that CD Special was available for about three weeks. Community First is currently offering a 13-month and 18-month CD Special, both earning 1.80% These limited-time offers require a minimum deposit of $10k, with no stated balance cap.
Both CD Specials are also available as IRAs (Traditional, Roth, and CESA) earning the same APY, with the same funding requirements.
According to CSR, the Early Withdrawal Penalty for 13-month and 20-month CDs was 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.
Community First also has a long-term non-special CD that deserves mentioning. The 5-year CD currently earns 2.10% APY and can be opened with a $1k minimum deposit. The 5-year IRA CD also earn 2.10% APY, with a minimum $1k opening deposit.
A year ago, the 5-year CD earned an eye-catching 3.25% APY. In a series of five rate drops beginning in July 2019, the 5-year CD lost 115 bps, but remained competitive in the falling rate climate.
Headquartered in Appleton, 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.
Pre-COVID19, joining Community First had to be done in-person, but the lobbies at all 25 Wisconsin branches have been temporarily closed to the general public. According to CSR, joining Community First can be done by calling 920.830.7200. After your new membership is approved, opening a CD Special can be done by phone or by special appointment.
Current Community First members can open a CD Special by phone (920.830.7200 or 866.273.2328), by using the Online Banking platform, or by scheduling an in-branch appointment.
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 1.81% (excellent) based on December 31, 2019 data. In the past year, Community First has increased its total non-brokered deposits by $307.34 million, an excellent annual growth rate of 12.23%. 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 to manage the Zwickernit Credit Union in 1966, 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 nearly 140,000 members and assets in excess of $3.4 billion.
How the CD Specials Compare
When compared to 263 similar length-of-term CDs tracked by DepositAccounts.com that require a minimum deposit of $10k or less and are available within the FOM, Community First Credit Union's 13-month CD Special APY* currently ranks first.
When compared to 187 similar length-of-term CDs tracked by DepositAccounts.com that require a minimum deposit of $10k or less and are available within the FOM, Community First Credit Union's 20-month CD Special APY* currently ranks first.
The above rates are accurate as of 4/24/2020.
Looking for the best CD rates, either nationwide or state-specific? Please refer to our CD Rates Table page.
*We are continuing to keep our rates up-to-date, but are just too many rate cuts for us to process the changes quickly. For the time being, please be aware that the rates listed at DepositAccounts may not reflect the latest rates published by the banks and credit unions.