Competitive CD Rates at Crane Federal Credit Union in Indiana - Local Only

Crane Federal Credit Union is offering several competitive CD rates for both their special and regular CDs. The two best specials include a 2.73% APY 33-month CD and a 1.61% APY 13-month CD. The competitive regular CDs include a 1.71% APY 18-month CD, a 2.05% APY 24-month CD and a 3.00% APY 48-month CD. Minimum deposit is $500, and the early withdrawal penalty is 180 days of dividends. These are available as both regular and IRA certificates. The rates are listed at the credit union's rate table as of 5/13/2010.

The credit union has continued to offer competitive CD rates since I first reported on them in January 2009.

Membership is open to members of an association in which anyone can join. Here's what the credit union states in their Membership Page:

You are also eligible for membership if you belong to an associational group that has sponsored membership for their group. ProVision is an example of an associational group. ProVision provides funds to organizations in the communities we serve, with the purpose of helping to feed and clothe those in need. Anyone can join ProVision with a $5 membership fee. All members of ProVision are eligible for membership with Crane Federal Credit Union.

Membership requires $5 for the savings account deposit and $5 for the ProVision donation. This credit union page has more details about ProVision. You can also be eligible to join the credit union via select employer groups. Refer to the credit union's SEG list for more details.

Even though they have an easy field of membership, I was informed last year that they require potential members to visit a branch to open an account. Accounts can no longer be opened by mail.

Branches are located in the Indiana cities of Odon, Crane, Washington, Linton, Bedford, Bloomington, Loogootee, Terre Haute and Plainfield.

Crane FCU continues to have strong ratings for safety and soundness: 5 stars (superior) at BauerFinancial, 4 stars (sound) at Bankrate.com and an overall health score of 4 out of 5 at DepositAccounts.com (see our Crane FCU rates and reviews page). Ratings are based on 12/31/09 financial data. The credit union is federally insured by the NCUA (Charter # 10544).

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