Cy-Fair Federal Credit Union’s (Cy-Fair FCU) 12-month Share Certificate currently offers 2.35% APY ($25k minimum) and 1.95% APY ($2.5k minimum).
DA has been tracking the 12-month Share Certificate for more than eight years. For the vast majority of that time, the APYs were almost unbelievably low, ranging between 0.50% and 0.08%. In April of this year, 219 bps were added, followed by another 8 bps increase three weeks later.
While the 12-month Share Certificate is also available as an IRA (Traditional, Roth, CESA), it only earns 0.08% APY with a $2.5k minimum deposit.
As stated in the Truth-in-Savings document, the Early Withdrawal Penalty reads as follows:
For 6 and 12 month Share Certificate and IRA Share Certificate accounts, the
amount of the early withdrawal penalty for your account is 90 days’ dividends.
Headquartered in Houston, Texas, Cy-Fair Federal Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, worship, or attend school in Harris County or in any of five Waller County Zip Codes (77423, 77445, 77446, 77447, 77484) eligible to join.
Immediate family members of current Cy-Fair FCU members also qualify for membership.
At the time of account opening you will be asked
to make your membership share deposit of $5.00.
There is a $5 closure fee, if the a new account is closed within six months of opening.
Cy-Fair FCU participates in the CO-OP Shared Branch network and the Allpoint ATM network.
As an Allpoint ATM Network participant, Cy-Fair FCU members have
access to over 55,000 ATMs to withdraw cash without the ATM fees.
Credit Union Overview
Cy-Fair Federal Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 5.41% (excellent) based on June 30, 2019 data. In the past year, Cy-Fair has increased its total non-brokered deposits by $5.73 million, an above average annual growth rate of 2.57%. Please refer to our financial overview of Cy-Fair Federal Credit Union (NCUA Charter # 11452 ) for more details.
In 1956, ten Cypress-Fairbanks High School teachers pooled their money and established the Cy-Fair Federal Credit Union. The original FOM included Cy-Fair Independent School District employees, with the first “branch” housed in an office inside the high school. After 20 years of operation, Cy-Fair FCU built its first branch off the high school grounds. Cy-Fair FCU is currently Texas’ 76th largest credit union, with more than 25,200 members and assets in excess of $252 million.
How the Share Certificate Compares
When compared to 337 similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, Cy-Fair Federal Credit Union's 12-month Share Certificate APY currently ranks first, regardless of minimum deposit requirements.
The above rates are accurate as of 12/13/2019.
To look for the best CD rates, either nationwide state-specific, please refer to our CD Rates Table page.