Crescent CU (MA) Adds 25- And 37-Month CD Specials


Deal Summary:

25-month CD Special, 1.75% APY w/checking, 1.50% APY w/o checking, $1k minimum

37-month CD Special, 2.25% APY w/checking, 2.00% APY w/o checking, $1k minimum

Availability: Residents of nine Massachusetts Counties and Providence County, Rhode Island.

Earlier this month, Crescent Credit Union (Crescent CU) added two CD Specials that require a checking relationship: 25-month (1.75% APY) and 37-month (2.25% APY). Both CD Specials are available without the checking relationship, earning APYs that are 25 basis points lower.

The minimum deposit is $1k, and there is a “maximum aggregate of $250k for an individual and $500k for a joint account."

According to CSR, the Early Withdrawal Penalty for either CD Special is six months interest.

Checking Relationship

To qualify for the higher APYs, a Relationship Checking account or eChecking account must be maintained.

The Relationship Checking account is a fairly straightforward account that can be opened with a minimum $5 deposit. It earns 0.15% APY on balances of $5+, without any qualifying requirements. There is a $10 monthly service charge that can waived with a minimum balance of $10k.

The eChecking account is a Rewards Checking Account (RCA) with three APY tiers, which is a little unusual for an RCA. Qualifying balances up to $5k earn 2.00%APY; qualifying balances of $5k - $25k earn 1.00% APY; and qualifying balances of $25k+ earn 0.10% APY.

The monthly qualification requirements are:

  • Direct Deposit of “your net income at least once” per month.
  • At least ten “pinless” debit card purchases.
  • At least one online bill payment.
  • Receive eStatements.

If the qualification requirements are not met, the APY will be 0.10%, regardless of balance. In addition, a fee of $5 will be assessed and “member pays POS fees, foreign ATM fees and surcharges per statement cycle.”

Long-time DA reader and guest contributor, Charles Rechlin, wrote an insightful blog post on relationship CDs, based on his years of personal CD investing. If you are considering either of Crescent Credit Union’s CD Specials, it’s worth the time to read what Charles has to say on the subject.


Headquartered in Brockton, Massachusetts, Crescent Credit Union’s field of membership (FOM) includes individuals who live, work, or attend school in the Massachusetts counties of Barnstable, Bristol, Dukes, Nantucket, Norfolk, Plymouth or Suffolk.

In addition, specific cities and towns in Middlesex and Worcester Counties in Massachusetts, and in Providence County, Rhode Island, also are included in the FOM.

Immediate family members (spouse, child, parent, sibling) of current Crescent CU members “can apply for membership, regardless of location.”

Joining Crescent CU and/or opening a CD Special can be done online or in person at any of eight Massachusetts branches located in Brockton (5), Norwell, and Taunton (2).

Credit Union Overview

Crescent Credit Union has an overall health grade of "A" at, with a Texas ratio of 4.62% (excellent) based on December 31, 2016 data. In the past year, Crescent CU has increased its total non-brokered deposits by $5.96 million, an above average annual growth rate of 1.95%. Please refer to our financial overview of Crescent Credit Union (NCUA Charter # 68048) for more details.

Crescent Credit Union was originally established in 1919 for the benefit of the employees of Tarlow Brothers Leather Company, which was located in Brockton, Massachusetts. As membership grew, the Credit Union needed a permanent home and moved into a building on Crescent Street, taking the street name as its own. Crescent CU merged with two other Brockton credit unions in 2008 (Uniti Credit Union) and 2013 (Brockton Postal Employees Credit Union). Crescent CU is currently Massachusetts’ 28th largest credit union, with more than 47,800 members and assets in excess of $428 million.

How the CD Specials Compare

When compared to the 378 similar length of term CDs tracked by, requiring a similar minimum deposit and available within the FOM, Crescent Credit Union’s 25-Month Certificate Special (w/checking) APY currently ranks first.

When compared to the 374 similar length of term CDs tracked by, requiring a similar minimum deposit and available within the FOM, Crescent Credit Union’s 37-Month Certificate Special (w/checking) APY currently shares the top spot with Institution for Savings’ 40-month CD.

The above rates are accurate as of 3/16/2017.

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

Reward Checking Account with a 1-Year Rate Guarantee at Crescent CU in MA

Back in 2007 and 2008, several banks and credit unions had offered a rate guarantee on their reward checking accounts. Those have become rare these days, but I came across one at Crescent Credit Union. It's guaranteeing the rates for 1 year from account opening, and the top rate is 4.00% APY. However, it's not the typical reward checking account. It's called eRewards Checking, and it has the following 3 rate tiers as of 5/29/2012:

  • 4.00% APY for balance up to $5,000
  • 2.00% APY for portion of balance between $5,000 and $25,000
  • 0.15%...
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High Yield Reward Checking with Catches at Crescent Credit Union in MA - Local Only

At first look, the reward checking account at Crescent Credit Union called eRewards Checking appears to be a very good deal. However, it has a few important features that make it much less attractive. Its top rate is currently 4.00% APY, but this is for balances of up to $5K. It's one of the rare reward checking accounts with three rate tiers (as of 7/3/2011):

  • 4.00% APY for balance up to $5,000
  • 2.00% APY for portion of balance between $5,000 and $25,000
  • 0.15% APY for portion of balance over $25,000
  • 0.15% base rate if...
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$150 Checking Account Bonus at Crescent Credit Union in MA - Local Only

Crescent Credit Union has a nice checking account promotion. It's offering up to $150 for opening any Crescent checking account and meeting the following criteria. If you meet only 2 out of the 3 following criteria, you can still qualify for $100. A link to this promotions page is on the credit union's front page as of 3/1/2010. Below are the criteria:

  1. Sign up for direct deposit of your recurring net income source
  2. Enroll in our free bill pay service and pay 2 bills in the first 60 days
  3. Use a Crescent debit...
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