Texas-based Credit Human recently increased all its CD rates by a uniform 10 bps. Of nine CDs in the product line, the 12-17 month CD and the 60-83 month CD currently have the most competitive rates – 0.80% APY and 1.40% APY, respectively. The minimum opening deposit for any Credit Human CD is $1k, with no stated balance cap.
The CDs are also available as IRA CDs (Traditional, Roth, and CESA), earning the same APY 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
Since I last wrote about Credit Human CDs in October, the EWP has become rather onerous: previously, the largest EWP (365 days) applied to terms of 36 months and greater.
Funding and Accessing Maturing Funds
According to CSR, the easiest to funding a CD is through an internal transfer from a Credit Human savings or checking account. Credit Human participates in the CO-OP Shared Branch network, which facilitates the transfer of funds. Maturing funds can distributed by check to the address on file or transferred to another Credit Human liquid account.
12-month Liquid Share Certificate
The Liquid Share Certificate is a combination add-on/no-penalty CD that currently earns 0.50% APY.
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.
Headquartered in San Antonio, Texas, Credit Human’s field of membership (FOM) now 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 five 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 service area” (greater San Antonio metro 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).
None of the above membership categories apply to me. Please enroll me in the American Consumer Council (ACC) so I may open an account with Credit Human. I understand that the ACC provides consumer education to its members and that once I am a member of the ACC I am eligible for Credit Human membership. Credit Human handles the application and the initial fee to join the ACC.
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 Branching 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 Union Overview
Credit Human has an overall health grade of "C" at DepositAccounts.com, with a Texas Ratio of 30.99% (average), based on September 30, 2021 data. In the past year, Credit Human has increased its total non-brokered deposits by $100.87 million, an excellent annual growth rate of 4.06%. 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 235,000 members, Credit Human is currently the eighth largest credit union headquartered in Texas, with assets in excess of $3.6 billion.
How the CDs Compare
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit requirement and are nationally available, Credit Human's 12-17 month CD APY currently ranks third.
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit requirement and are nationally available, Credit Human's 60-83 month CD APY currently ranks second.
The above information and rates are accurate as of 1/31/2022.
To searching for the best CD rates, both nationwide and in your state? Please refer to CD Rates Table page.