Community First Credit Union (WI) Offers Competitive CD Rates

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Deal Summary: CDs – 1-year (0.75% APY), 18-month (0.85% APY), 2-year CD (0.95% APY), 3-year (1.15% APY), and 5-year CD (1.30% APY), $1k minimum.

Availability: 13 northeastern Wisconsin counties.

In the first quarter of 2020, Community First Credit Union (Community First) offered a variety of limited-time CD Specials with excellent rates. By the fall of 2020, the CD Specials had disappeared, but the majority of Community First’s regular CDs had become rate leaders. While all the APYs have fallen a uniform 45 bps since my September 2020 blog post, Community First CDs have maintained competitive APYs in the musical-chairs rate environment of the past year. The minimum opening deposit for any of these CDs is $1k, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.30%$1k-Community First Credit Union (WI)5 Year CD
1.15%$1k-Community First Credit Union (WI)3 Year CD
0.95%$1k-Community First Credit Union (WI)2 Year CD
0.85%$1k-Community First Credit Union (WI)18 Month CD
0.75%$1k-Community First Credit Union (WI)1 Year CD
Rates as of August 1, 2021.

The CDs are also available as IRA CDs (Traditional, Roth, and CESA) earning the same APYs, with the same deposit requirements.

According to CSR, all Community First CDs have an Early Withdrawal Penalty of 180 days interest, with partial withdrawals allowed.

Dividends are compounded/credited monthly and can be added back into the CD, transferred to another Community First account, or distributed by check 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.

Availability

Headquartered in Neenah, Wisconsin, Community First Credit Union’s field of membership (FOM) is community based, with individuals who live, work, or attend school in the northeast Wisconsin counties of Brown, Calumet, Fond du Lac, Green Lake, Kewaunee, Manitowoc, Oconto, Outagamie, Shawano, Sheboygan, Waushara, Waupaca, or Winnebago, eligible to join.

As I stated before, I can’t believe a credit union as large as Community First doesn’t have an online membership application. Joining Community First and opening a CD can be done at any of 20 Wisconsin branches located in Appleton (6), Bellevue, De Pere, Green Bay, Greenville, Kimberly, Manitowoc, Menasha, Neenah (3), Nichols, Oshkosh (2), and Waupaca. CSR stated that in-person appointments can be done by calling 920.830.7200 and are “recommended and appreciated.”

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.

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 0.88% (excellent) based on March 31, 2021 data. In the past year, Community First has increased its total non-brokered deposits by $934.56 million, an excellent annual growth rate of 31.53%. 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 a common bond 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 fourth largest credit union, Community First currently has more than 146,000 members and assets in excess of $4.5 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 either first or second. I’ve chosen the three most competitive Community First CDs for this comparison.

A little rate history – in my September 2020 blog post, Community First CDs all had top-rate APYs, with the second and third place APYs offered by local Wisconsin credit unions. Currently, the second and third place APYs are offered on nationally available CDs. In other words, Community First has the highest rates available in Wisconsin.

Interest RateCD Length of TermCredit Union/Bank
0.85% APY18-month CDCommunity First Credit Union
0.85% APY18-Month CD SpecialWings Financial Credit Union

Interest RateCD Length of TermCredit Union/Bank
0.95% APY2-year CDCommunity First Credit Union
0.90% APY2-Year Fixed CDLafayette Federal Credit Union

Interest RateCD Length of TermCredit Union/Bank
1.15% APY3-year CDCommunity First Credit Union
1.01% APY3-Year Fixed CDLafayette Federal Credit Union

The above rates are accurate as of 7/30/2021.

Looking for the best CD rates, either nationwide or state-specific? Please refer to our CD Rates Table page.

Related Pages: Green Bay CD rates, 1-year CD rates, 5-year CD rates

Comments
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