Tennessee-based Cornerstone Financial Credit Union (CFCU) is currently offering two Certificate Specials: 14-month (2.75% APY) and 9-month (2.35% APY), with the 14-month having the more competitive rate. A $500 minimum deposit of new money is required to open either Certificate Special. While all of CFCU’s non-special Certificates have tiered APYs based on deposits of $500, $25k, and $50k, both Certificate Specials offer the same APY for all deposit levels of $500 or greater.
According to the fine print on Rates page, the Early Withdrawal Penalty reads as follows:
Early withdrawal will result in loss of all dividends earned during the promotional period.
Headquartered in Nashville, Tennessee, Cornerstone Financial Credit Union’s field of membership (FOM) provides a path to membership for almost any resident of Tennessee or Kentucky.
Easy Membership: Tennessee and Kentucky residents who allow CFCU to send their name, address, and email to Adventure Science Center for a 60-day free trial are eligible for membership. “You do not have to retain membership with the Adventure Science Center after your 60-day free trial to remain a CFCU member.”
Although this option isn’t listed on the Membership page, CSR confirmed it is still available. As the Membership page reads,
“If you do not meet eligibility through any of the above option, not a problem!
Please contact us (615) 208.9210 to discuss eligibility questions.”
Residency: Individuals who live or work in the Tennessee communities of Antioch, Dickson, Franklin, Murfreesboro, Goodlettsville, and three Nashville Zip Codes (37212, 37103, 37011) qualify for membership.
Education Affiliation: All employees of Tennessee public and private schools, colleges, and universities are eligible to join.
Employment: Employees and retirees of many SEGs also qualify.
All members must maintain a Share Savings account with $25.
CFCU participates in the CO-OP ATM Network and MoneyTower ATM Network, giving its members access to thousands of nationwide fee-free ATMs.
Credit Union Overview
Cornerstone Financial Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 5.45% (excellent), based on March 31, 2019 data. In the past year, CFCU has increased its total non-brokered deposits by $31.97 million, an excellent annual growth rate of 10.14%. Please refer to our financial overview of Cornerstone Financial Credit Union (NCUA Charter # 67972) for more details.
Cornerstone Financial Credit Union is currently the 14th largest credit union in Tennessee, with more than 40,000 members and assets in excess of $388 million. Founded in 1955 by a group of Davidson County (Nashville) teachers, the Credit Union's name was changed in 1992, as the FOM had expanded to include a more diverse membership. Not forgetting its education-based roots, CFCU sponsors a scholarship program to “assist those students who display outstanding character and perseverance in achieving their goals.” Since 2011, the Cornerstone Financial Credit Union Scholarship Program has awarded $25,000 annually to “rising seniors in Middle Tennessee.”
How the Certificate Special Compares
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that required a similar minimum deposit and are available within the FOM, Cornerstone Financial Credit Union’s 14-month Certificate Special APY currently ranks fourth.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|2.85% APY||12-Month CD||Quontic Bank|
|2.81% APY||12-Month Step Up CD Special||SouthEast Bank|
|2.80% APY||1-Year eCD||Home Loan Investment Bank|
|2.75% APY||14-Month Regular Certificate Special||Cornerstone Financial Credit Union|
The above rates are accurate as of 7/4/2019.
To look for the best CD rates, both nationwide and in your state, please refer to our CD Rates Table page.