CorePlus Credit Union (CT) Adds 20-Month CD Special, 2.25% APY

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Deal Summary: 20-month CD Special, 2.25% APY, $1k minimum deposit, new money.

Availability: Residents of New London and Windham Counties, Connecticut.

Core Plus Credit Union (CPCU) has added a 20-month CD Special earning 2.25% APY. The minimum opening is $1k of new money, which is defined as “funds not currently on deposit” with CPCU.

As stated in CPCU’s Share Certificate Truth-in-Savings disclosure, the Early Withdrawal Penalty reads as follows:

For accounts with terms from one (1) year up to two (2) years the
amount of the penalty is the equivalent of 182 days of dividends.

Availability

Headquartered in Norwich, Connecticut, CorePlus Credit Union’s field of membership (FOM) is community-based, with individuals who live, work, worship, or attend school in the Connecticut counties of New London or Windham, eligible to join, as are individuals who live in the Connecticut town of Hebron.

Employees of the Connecticut town of Bolton also qualify for membership.

Membership is also extended to the immediate family or household members of individuals who are membership eligible.

Joining CPCU can be done at any of 13 Connecticut branches located in Brooklyn, East Lyme, Groton, Mashantucket, Norwich (3), Pawcatuck (2), Plainfield, Putnam (2), and Waterford, or by calling 800.724.0779.

Opening a CD Special can be done at any of the above-mentioned branch locations or by phone. If opening by phone, new money must be have been already transferred into the member’s Share Savings Account.

Open your account with a minimum balance of $5.00 (required at all times).

CPCU participates in the CO-OP Shared Branch and ATM networks, giving its members,

convenient, easy access to your accounts – one of the strongest benefits your Credit Union has to offer. The nationwide presence of CO-OP’s Shared Branch and ATM networks gives you that strength.

Credit Union Overview

CorePlus Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 6.48% (excellent) based on September 30, 2019 data. In the past year, CPCU has increased its total deposits by $2.82 million, an above average annual growth rate of 1.4%. Please refer to our financial overview of CorePlus Credit Union (NCUA Charter # 1148) for more details.

Established in 1936, the Norwich Connecticut Teachers Federal Credit Union began with 27 members and $15. Between 1973 and 2003, seven mergers occurred, leading to the CorePlus Credit Union rebrand. CPCU’s footprint in Connecticut expanded in 2004 when a community charter was granted. The most recent merger occurred in 2018, when Connecticut Community Credit Union joined forces with CPCU, increasing the membership by 3,000. CorePlus Credit Union is currently Connecticut’s 11th largest credit union, with more than 26,400 members and assets in excess of $231 million.

How the CD Special Compares

When compared to 217 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, CorePlus Credit Union's 20-month CD Special APY currently ranks second.

Interest RateCD Length of TermCredit Union/Bank
2.27% APY15-Month CD SpecialState Bank of India (IL)
2.25% APY20-Month CD SpecialCorePlus Credit Union
2.22% APY18-Month Simple CDDow Chemical Employees’ Credit Union

The above rates are accurate as of 12/20/2019.

To look for the best CD rates, both nationwide and state-specific, please refer to our CD Rates Table, page.

Related Pages: Hartford CD rates, 1-year CD rates

Comments
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CorePlus Federal Credit Union is offering a very competitive rate on its 5-year share certificate. It has a 2.25% APY for a minimum deposit of $500. The early withdrawal penalty is 365 days of dividends. This rate is listed in the credit union's share certificate truth in savings with an effective date of June 1, 2012. This document also has the details of the early withdrawal penalty.

Credit union membership is open to those who live, work, worship, or attend school in New London County or Windham County, Connecticut. Please refer...

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CorePlus Federal Credit Union has a Small Savers Share Certificate Special with a 6.00% APY and a 5 month term. The minimum deposit is $600, and the maximum is $16,000 per member. A new or existing checking account is required.

The credit union also has a special 5.75% APY 36-month variable rate certificate with the rate based on the Prime Rate minus 2.50%. The rate will not go below 3% or above 8% regardless of Prime.

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The credit union's field of membership includes persons who live, work, worship, or attend school in and businesses and other legal entities located in New London County or Windham County, Connecticut.

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