Dayton Firefighters Credit Union's Competitive 4-Year and 5-Year CDs

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Dayton Firefighters Credit Union (DFCU) has recently raised the rates on two of its long-term CDs: 4-Year CD (1.89% APY) and 5-Year CD (2.19% APY). These CDs require a minimum deposit of $2K to open, and there is no maximum balance cap. Both CDs are also available as IRAs, with the same funding requirements.

The Early Withdrawal Penalty, as stated in DFCU's Savings Rates Sheet, is as follows:

The penalty for early withdrawal is forfeiture of dividends equal to the lesser of dividends since date of issuance or 90 days dividends for certificates with original maturity of 24 months or less (2% of the certificate principal amount for certificates 36 months or longer in maturity).
APYMINMAXINSTITUTIONPRODUCTDETAILS
1.50%$2k-Dayton Firefighters Federal Credit Union60 Month Money Market Share Certificate
1.50%$2k-Dayton Firefighters Federal Credit Union60 Month IRA Share Certificate (Traditional, Roth, CESA)
1.15%$2k-Dayton Firefighters Federal Credit Union48 Month Money Market Share Certificate
1.15%$2k-Dayton Firefighters Federal Credit Union48 Month IRA Share Certificate (Traditional, Roth, CESA)
Accounts mentioned in this post. Rates as of August 23, 2016.

Availability

Don't be fooled by the name: Dayton Firefighters Credit Union membership is open to all those who live, work, worship or attend school in Montgomery County, Ohio. Joining DFCU requires an initial $5 deposit and a minimum $50 on deposit within ten months. Please refer to the DFCU Membership Eligibility page for complete details.

While DFCU has some online banking capabilities, an in-person visit to the sole location in Dayton is required to submit an application and open any accounts.

Credit Union Overview

Dayton Firefighters Credit Union has an overall health grade of B+ at DepositAccounts.com, with a Texas Ratio of 3.09% (excellent) based on March 31, 2014 data. In the past year, DFCU has increased its total deposits by $4.85 Million, an excellent growth rate of 12.64%. Please refer to our financial overview of Dayton Firefighters Credit Union for more details.

Dayton Firefighters Credit Union (NCUA Certificate #395) was organized in June 1935 as the Dayton (Ohio) Firemen Federal Credit Union. As the name suggests, all the original charter members were Dayton Fire Department employees. The field of membership remained limited to Fire Department employees and Department of Telegraph and Signals employees for 68 years. In September 2003, membership was opened to all residents of Montgomery County. Today's Dayton Firefighters Credit Union has assets of over $51 Million and 3,800+ members.

How These CDs Compare

When compared to similar length-of-term CDs tracked by DepositAccounts.com, and available to Ohio residents, Dayton Firefighters Credit Union's 4-year CD fares well:

Interest Rate CD Length Institution
2.15% APY 48-59 Month CD Bayer Heritage Federal Credit Union
2.10% APY 4-Year CD Kemba Credit Union
2.00% APY 4-Year CD Perpetual Federal Savings
1.89% APY 4-Year CD Dayton Firefighters Credit Union

Using the same comparison criteria, Dayton Firefighters Credit Union's 5-year CD is equally competitive:

Interest Rate CD Length Institution
2.50% APY 5-Year CD General Electric Credit Union
2.40% APY 5-Year CD Kemba Credit Union
2.25% APY 5-Year CD Firelands Credit Union
2.19% APY 5-Year CD Dayton Firefighters Credit Union

The above rates are accurate as of 8/27/2014.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.

Comments
Higher Long-Term CD Rates at Dayton Firefighters FCU in Ohio

There have been two changes at Dayton Firefighters Federal Credit Union that have helped savers. First, its long-term CD and IRA CD rates just had a big jump. Second, the credit union’s field of membership has expanded allowing more people to be eligible to join. The credit union now has a 2.08% APY 5-year Jumbo CD and a 1.78% APY 4-year Jumbo CD. The Jumbo minimum deposit is $100,000. For a minimum deposit of $2,000, the rates are 10 bps lower. These rates are listed in the credit union’s savings...

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6.67% 60-Month CD at an Ohio CU - $100K+ (Dayton Firefighters FCU)
Dayton Firefighters FCU has very high yields on its long-term jumbo share certificates which have a minimum deposit of $100k. These include a 6.67% APY 60-month CD and a 6.17% APY 48-month CD. High rates are also available for smaller deposits of $10k. These include a 6.17% APY 60-month CD and a 5.92% APY 48-month CD.

The field of membership includes those who live, work, worship or attend school in Montogmery County, Ohio.

The credit union is NCUA insured. It's a small credit union with $34 million in assets and 3,271 members....



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