Credit Human 12-17 Month CD Is New Rate Leader

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Update 9/29/23: Rate increases! 12-17 Month CD, 6.00% APY; 12-Month Liquid CD, 5.70% APY; 6-11 Month CD, 5.75% APY.

Deal Summary: 12-17 Month CD, 5.80% APY, $500 minimum deposit. 12-Month Liquid CD, 5.50% APY, $5k minimum deposit, two no-penalty withdrawals and unlimited additional deposits throughout term.

Availability: Easy membership requirement

Over the weekend, Texas-based Credit Human boosted the rate on its 12-17 Month CD. Following a substantial 60 bps increase, the 12-17 month CD currently earns 5.80% APY – the highest and most competitive rate in the Credit Human CD product line. Since I last wrote about Credit Human CDs, the minimum opening deposit has dropped to $500, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
5.25%$500-Credit Human6-11 Month IRA (Traditional, Roth, CESA)
5.25%$500-Credit Human6-11 Month CD
5.05%$500-Credit Human12-17 Month IRA (Traditional, Roth, CESA)
5.05%$500-Credit Human12-17 Month CD
Rates as of February 20, 2024.

The 12-17 month CD is also available as an IRA CD (Traditional, Roth, and CESA), earning the same APYs with the same deposit requirements.

As stated in the Truth-in-Savings disclosure, the Early Withdrawal Penalty (EWP) reads as follows:

For all accounts, the amount of the early withdrawal penalty is the greater of $50.00 or an amount equal to the number of days' dividends as determined in accordance with the following penalty schedule:

Terms of 6 months – 180 days’ dividends

Terms of 12 months – 270 days’ dividends

Terms of 36 months – 365 days’ dividends

Terms of 60 months – 730 days' dividends

Terms of 84 to 120 months – 1,095 days' dividends […]

If the account has not yet earned enough dividends or if the dividends have already been paid, the penalty will be deducted from the principal.

Even though the TIS has been updated since my March 2023 blog post, the above EWPs continue to not match the CD terms currently offered by Credit Human, i.e., 12-17 months. CSR was unable to confirm what the EWP would be for a 13-, 14-, 15-, 16-, or 17-month CD. When CSR begins every sentence with “I think” or “I believe,” my confidence level drops. At best, the EWP for all 12-17 month CD term lengths would be the greater of $50 or 270 days of dividends.

12-month Liquid CD

The 12-month Liquid CD also had a recent 60 bps rate increase and now offers 5.50% APY. The Liquid CD is a combination add-on/no-penalty CD and its new APY is currently the highest offered on any nationally available No Penalty CD. Look for it in tomorrow’s Latest Liquid Bank Account Rates Summary.

APYMINMAXINSTITUTIONPRODUCTDETAILS
4.75%$5k-Credit Human12 Month Liquid CD
4.75%$5k-Credit Human1 Year Liquid IRA (Traditional, Roth, CESA)
Rates as of February 20, 2024.

Your Credit Human Liquid Share Certificate lets you make a fixed, 1-year term commitment and earn monthly dividends on balances of $5,000 or more. Make unlimited deposits during the year commitment. You can also make two, no-penalty withdrawals during the term as long as you maintain a minimum balance of $5,000.

Availability

Headquartered in San Antonio, Texas, Credit Human’s field of membership (FOM) includes a way for virtually any U.S. citizen or resident alien (with valid Social Security numbers) to join. Credit Human’s online application lists six paths to membership:

”I am an employee, member or volunteer of one of the following organizations” (more than 250 named organizations, including several state, county, and local government agencies).

”I live, work, worship or attend school in Credit Human’s San Antonio service area.”

”I live, work, worship or attend school in Credit Human’s New Orleans service area.”

”I am a veteran, a retiree, an active duty member or a dependent of a member of the U.S. Armed Forces or National Guard.”

”I study at the following trade school, college or university” (47 named schools, including Texas Tech University System).

”I am related to or live with a Credit Human member” (no definitions listed).

And finally,

None of the above membership categories apply to me. I would like to enroll in the Louisiana Consumer Council (LACC) if I live in Louisiana or in the American Consumer Council (ACC) if I live in any other state so I may open an account with Credit Human. I understand the LACC and ACC provide consumer education to its members and that once I am a member I am eligible for Credit Human membership. Credit Human handles the application and the initial fee to join the ACC.

Account Opening

Joining Credit Human and/or opening a CD or Liquid CD can be done online or at any of 22 Texas branches, located in Houston, Live Oak, San Antonio (19) and Schertz. Credit Human also has two New Orleans branch locations, both opened earlier this year.

Existing members can also open a CD using the Credit Human online banking platform.

Membership begins with a $5 required minimum balance in a share savings account.
There are no monthly fees, and dividends are paid on balances of $100 or more.

Credit Human is a member of the CO-OP Shared Branch Network, allowing members to “make basic transactions at over 5,000 shared credit union branches nationwide.” As stated on Credit Human’s Locations page,

Credit Human does not participate in the ATM Co-Op. ATM transactions at Co-Op ATMs are subject to fees imposed by the ATM owner. Credit Human does not support Vcom transactions at 7-Eleven locations.

Credit Human is a member of the Allpoint ATM Network, which provides members free access to more than 55,000 ATMs worldwide.

Funding and Other Details

The following information is from a conversation with CSR.

  • Funding – Funds must be on deposit in a Credit Human share account before opening a CD. Can be deposited by ACH, wire (no fee), or shared branch transfer.
  • CO-OP Shared Branch Participant – Yes.
  • Dividends – Compounded/credited monthly and can be transferred to a Credit Human share account.
  • Maturing Funds – After automatically transferred to a Credit Human share account, can be distributed by ACH, wire ($12-$15 fee), or cashier’s check.
  • Beneficiaries – Unlimited with equal shares, Social Security number required.
  • Grace Period – 10 calendar days before automatic renewal.
  • Credit Check – Soft pull and ChexSystems

Credit Union Overview

Credit Human has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 19.48% (above average), based on June 30, 2023 data. In the past year, Credit Human has increased its total non-brokered deposits by $174.1 million, an excellent annual growth rate of 6.71%. Please refer to our financial overview of Credit Human (NCUA Charter # 24382) for more details.

Originally established in 1935 as the National Federation of Federal Employees Local No. 28, the founding members were twelve federal government workers. By the end of the first year of operation, 37 loans had been made, providing a profit of nearly $43 (approximately $835 in 2021 dollars). The credit union has rebranded three times: Government Employees Credit Union (1949), San Antonio Credit Union (1987), and Credit Human (2016). Each name change reflected the growing and expanding FOM. With more than 228,000 members, Credit Human is currently the ninth largest credit union headquartered in Texas, with assets in excess of $3.7 billion.

How the 12-17 Month CD Compares to 1-Year CDs

When compared to similar length-of-term CDs tracked by DepositAccounts.com which are available nationwide and have minimum deposit requirements of $10k or less, no banks or credit unions have higher rates than currently offered on the Credit Human 12-17 month CD. The following table compares the 12-17 month CD to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

How the 12-17 Month CD Compares to 18-Month CDs

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available nationwide and have minimum deposit requirements of $10k or less, no banks or one credit unions have higher rates than currently offered on the Credit Human 12-17 month CD. The following table compares the 12-17 month CD to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 9/19/2023.

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

Related Pages: Houston CD rates, New Orleans CD rates, San Antonio CD rates, 1-year CD rates, IRA CD rates, nationwide deals

Comments
denki
  |     |   Comment #1
EWP way too severe for me. Was thinking about becoming a member as I like the "set your own term in months" feature but EWP too draconian. Even for 5yrs I prefer 180 (still available at many places) but will do up to 365 if it's a great deal... but not more than that. People think they won't ever need to take funds out early, then life happens. 730 EWP for 5yrs? And a 9-month EWP for just a 12-month CD? Too severe for me.
JeffinEasternFL
  |     |   Comment #3
50/50 chance anyone is approved/disapproved..."easy membership" not withstanding.
Rosedala
  |     |   Comment #14
Hi JeffinEasternFL, why, did you have an unsatisfactory experience with them on this matter? I just finished the initial application and hope they will accept it. I was told they're keeping this same rate for another week.
JeffinEasternFL
  |     |   Comment #23
Only CU of many FI's, banks etc., that said "no" in my life. High 600s clean CHEX and over 800 clean Credit Score..go figure...
jimdog
  |     |   Comment #29
Hey, just break it down to 10 CDs and that way you can break one of two if needed!
Rickny
  |     |   Comment #2
They use Equifax to do a credit check.
Rosedala
  |     |   Comment #4
I trust their credit pull is a soft one. But I just called to open an IRA for 17 months. Asking how long this rate will be on, the CSR Daniella said they change them every Friday so I had to send in the application by tomorrow!!! Don't know if I can make it...there's always a fly in each pie isn't there??? LOL!
Rickny
  |     |   Comment #5
They guarantee the rate when you compete the application.
Rosedala
  |     |   Comment #15
Hi Rickny, thanks for reminding me. That's good. :)
Maestro
  |     |   Comment #6
Opened an account back in March '23, was indeed a soft pull for me.
They do change their rates on Friday's but that does not mean every Friday. If I remember correctly the 5.5% rate on a 24 to 35 month CD at the time lasted for a few weeks.
RichReg
  |     |   Comment #7
Same here....and no problems with getting approved.
The 5.5% rate lasted for over a month, I believe...until the Silicon Valley Bank debacle ruined everything. I'm sure it would've lasted even longer.
Rickny
  |     |   Comment #8
So I tried for this CD. I was told there was a freeze on my Equifax account after my 1st attempt. Lifted the freeze and resubmitted new application as instructed. This time I got to verification questions which I answered correctly. Got an email that verification failed. I'll pass on this.
Rosedala
  |     |   Comment #12
Oh Rickny I'm so sorry you had to waste time and patience and not be able to open the account. These "errors" are mostly the result of the beginning of AI. I'm afraid we ain't seen notin' yet, wait till it's nationally established.

I'm trying to get my IRA there and it just won't upload my document! It keeps saying what I already know: "Cannot upload". Why or how to fix? Not AI's task! Searched the net extensively, no help. Only the phone with unending "options" and long holds. Sigh... (I also had one obstacle in the middle of my Winworth application which neither they nor internet could help, so I just abandoned it. So far I may have to abandon also Credit Human).

P.S. Maybe if you question their controversial results and then try again they (or IT) may accept your request? Good luck!
Rickny
  |     |   Comment #9
Got an email from credit human

We received your online application for membership with Credit Human. Unfortunately, we cannot open the account for you at this time due to information received from ChexSystems.
111
  |     |   Comment #10
Bad news, but at least it's good they identified that the denial was due to ChexSystems. Many FIs do not.
Rickny
  |     |   Comment #21
111 But ChexSystems dosen't tell you why denied. I know I'm rate chaser and ordered a report that is paged. Probably the reason.
Rosedala
  |     |   Comment #25
Rickny, it happened to me too. It had to do with credit cards but the outcome is the same - "I opened too many bonus accounts", "Inquired into too many FIs" etc. Absurd and unfair! AND intrusive!!! Now that Credit Human raised CDs to 6%, why don't you try again WITH a different email address and different browser? Who knows, you may get an agent with a different opinion on who should be acceped. I wish you good luck.
xjones
  |     |   Comment #11
The Liquid CD is a good deal. 12m no penalty AND add on at 5.5% APY. I think I noticed 100k max while opening.
edinperk
  |     |   Comment #19
Confirmed, during opening of the Liquid CD it indicates 'This account has a maximum funding amount of $100,000.00'. I was nervous about opening a new account with CreditHuman after getting denied at AgFed a few months ago but everything went smooth.
edinperk
  |     |   Comment #33
Additional info on the Liquid CD, from CSR:
You are permitted to have multiple Liquid Share Certificates for $100,000.00 each. However, please note that the transfer limit when funding a Share Certificate is $100,000.00 daily and $200,000.00 monthly.
Rickny
  |     |   Comment #13
I'll just wait for the next bank or CU. Not wasting my time.
niniss
  |     |   Comment #16
How you open a 17mo cd? I only see 6mo, 12mo, 18mo... Thanks
xjones
  |     |   Comment #22
After opening the 12m, you need to call and ask. It will reflect on the website a day or two after they adjust it.
niniss
  |     |   Comment #17
How do I open a 17mo CD? I only see the terms 6mo, 12mo, 18mo, etc.
Maestro
  |     |   Comment #20
For those watching Credit Human, CD rate increases 9/29/23
6-11 month 5.6% to 5.75%
12-17 month 5.8% to 6.00%
All other terms appear to remain unchanged.
Duck
  |     |   Comment #27
Appreciate the update opened another cd over there thanks again
IraA
  |     |   Comment #24
Don't waste your time if you have a CHEX SYSTEM profile. They don't want your business even if you have NO adverse documentation. If you rate shop and open accounts in a variety of places, you will be declined!
Rosedala
  |     |   Comment #26
Hi IraA, how can you tell if you have a CHEX SYSTEM profile? It sounds like an illness lol! Is there a way to avoid it? Or does it come to you uninvited? Thanx.
Rickny
  |     |   Comment #32
Rose You can get a free report, go to their website. If you've ever opened a checking account you have a file.
Rickny
  |     |   Comment #31
IraA That's what happened to me
agletdave
  |     |   Comment #39
This Chexsystems rating agency is an abomination. Your credit score can be outstanding, but if you chase high rates or bonuses, they flag you for opening, and even just applying for accounts, especially checking and credit card accounts. Then it takes 5 YEARS!!! for the activity to drop off your file. I've read you have to not have activity for about 6 months before some institutions will consider you again. If you're a high net worth individual and need multiple accounts to stay under banking insurance limits, you're skee-rood with Chexsystems. Terrible. We should all complain to the CFPB about this practice!
retirednc
  |     |   Comment #28
Credit Human has a Bauer Financial Rating of 3 stars, with 5 stars the best. Three stars is considered “adequate”, one step above “problematic.”
Most institutions with whom I have accounts have a 5 star Bauer rating. One or two have 4*.
Its rating with Weiss is a C-, with Liquidity and Profitabilty rated as weak.
It is NCUA insured.
jimdog
  |     |   Comment #30
A big red flag is when you look at their health rating profit margins, they are negative! Haven't seen man CU's with negative earnings. Appears they need cash bad and this is why they are raising cash.
Maestro
  |     |   Comment #34
@jimdog
Perhaps a yellow flag as raising cash in short order by increasing deposit rates could cause ROA profit margins to suffer. From CUSO Magazine, in part: "For example, if the credit union were to lower loan rates and increase deposit rates, changes that would undoubtedly benefit members, it would also result in a lower ROA as net income would suffer. Alternatively, if your credit union implements new fees to generate more income, it might result in a higher ROA, but at the direct expense of members."
Not just for this CU but any FI answering the question why profits are down or negative may be more important. After looking at the history for this CU at Weiss bank ratings, this appears to be the first quarter a loss has been reported. Not saying this is what happened but a strong possibility as a contribution to the loss report. Even DA's health report shows an increase of $14mm in new deposits to an increase of $7mm in new loans YOY.
Adding the CUSO link: https://cusomag.com/2023/04/26/even-more-ratios-to-understand-your-credit-unions-performance/#:~:tex....
niniss
  |     |   Comment #36
Terrible bank! They pulled my money from my funding bank yesterday but saying they haven't received the money so i can't open a new CD. With the weekend coming and possible rate change i have to eat at least a week loss of interest if the cd is not opened.
Cdbob
  |     |   Comment #37
Applied on Monday, approved on Wednesday, wired money on Thursday morning, opened 6% CD online on Thursday morning. Called and after 1 minute hold changed duration from 12 month to 17 month. Couldn’t have been any easier. Wish they were all this easy.
xjones
  |     |   Comment #38
Mostly good experiences for me. Good rates, website is decent. The comments seem aligned to whether you get approved. If you do, you'll probably get a pretty decent experience.
agletdave
  |     |   Comment #40
This Chexsystems rating agency is an abomination. Your credit score can be outstanding, but if you chase high rates or bonuses, they flag you for opening, and even just applying for accounts, especially checking and credit card accounts. Then it takes 5 YEARS!!! for the activity to drop off your file. I've read you have to not have activity for about 6 months before some institutions will consider you again. Even if the CU rejects you, that counts as another application, and the Chexsystem "flagged" clock starts anew, so it's a perpetual trap. You never know when it's safe to apply again.  If you're a high net worth individual and need multiple accounts to stay under banking insurance limits, you're skee-rood with Chexsystems. Terrible. We should all complain to the CFPB about this practice!
Credit Human Nationally Available 24-35 Month CD Has Rate-Leading APY
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Deal Summary: CDs – 24-35 month (5.50% APY) and 18-23 month (5.25% APY), $1k minimum deposit.

Availability: Easy membership requirement

Texas-based Credit Human started the month by raising all its CD rates, with the 24-35 month CD seeing the largest increase. Following a rate hike of 90 bps, the 24-35 month CD currently earns 5.50% APY, which is the most competitive rate in the Credit Human CD product line. The 18-23 month...

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Availability: Easy membership requirement

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Availability: Easy membership requirement

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