Diversified CU (MN) Features 15- And 60-Month CD Specials

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Deal Summary:

15-month CD Special, 1.50% APY, $5k minimum deposit, new money.

60-month CD Special, 2.14% APY, $2.5k minimum deposit, new money.

Availability: Residents of Anoka, Hennepin, and Waseca Counties, Minnesota; several SEGs.

Diversified Credit Union (Diversified CU) is currently featuring a 15-month CD Special (1.50% APY) and a 60-month CD Special (2.14% APY). Both CD Specials require new money to open, with the 15-month requiring a minimum deposit of $5k and the 60-month requiring only a $2.5k minimum deposit. There is no stated balance cap.

According to CSR, all CDs with a term of greater than one year carry an Early Withdrawal Penalty of 180 days’ interest.

Thanks to DA reader, susanc, for her Forum post about these CD Specials.

Availability

Headquartered in Minneapolis, Diversified Credit Union’s field of membership (FOM) is primarily residency based, with individuals who live, work, worship, volunteer, or attend school in the Minnesota counties of Anoka, Hennepin, or Waseca eligible to join.

Employees of CenterPoint Energy, Cinch Connectivity Solutions, CalAmp Wireless Networks Corp., Irton, Dunwoody College of Technology, and ISD #829 (Wasesca Public Schools) also qualify for membership.

Family members (spouse, children, parents, grandparents, siblings, cousins, nieces, and nephews ) are also eligible for membership.

If you are related to a current Member by blood, adoption or marriage,
you are eligible to join Diversified, regardless of where you live.

Joining Diversified CU can be done at any of three Minnesota branches located in Minneapolis (2) and Waseca. The Membership Application is available as a download and can be submitted in person or by mail (snail-mail).

Diversified CU’s online banking platform is currently devoted to account management and bill payment services.

Credit Union Overview

Diversified Credit Union has an overall health grade of "B" at DepositAccounts.com, with a Texas Ratio of 11.09% (excellent) based on December 31, 2016 data. In the past year, Diversified CU has increased its total non-brokered deposits by $2 million, an excellent annual growth rate of 7.18%. Please refer to our financial overview of Directions Credit Union (NCUA Charter # 61726) for more details.

Diversified Credit Union began as in 1930 as the Minneapolis Gas Light Credit Union, serving the employees of Minneapolis Gas Light (today’s CenterPoint Energy). The FOM was expanded in 1988 to include E.F. Johnson Company, which led to further FOM expansion though E.F. Johnson Company’s acquisitions and newly created businesses. In 2004, the FOM was again expanded, but rather than adding more SEGs, the newest eligible group were the residents of three Minnesota counties. Considering the disparate elements of the FOM, “Diversified” is truly an appropriate name for the Credit Union.

How the CD Specials Compare

When compared to the 247 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available within the FOM, Diversified Credit Union’s 15-month CD Special APY currently ranks second.

When compared to the 288 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available within the FOM, Diversified Credit Union’s 60-month CD Special APY currently ranks in the top ten. The following is a sampling of those top ten APYs.

The above rates are accurate as of 3/10/2017.

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


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