DuTrac Community Credit Union Has Competitive 12-Month Jumbo CD
One of the “New to Summary” CDs in this week’s CD Rates Summary is DuTrac Community Credit Union’s (DuTrac CCU) 12-month Jumbo Certificate Special, which currently earns 1.11% APY. The minimum opening deposit is $100k, with no stated balance cap. DuTrac also has a 12-month Certificate Special (1.01% APY) that only requires a $1k minimum deposit.
Both the Certificate Special and the Jumbo Certificate Special are also available as IRA CDs (Traditional, Roth, CESA), earning the same APYs with the same deposit requirements.
According to CSR, the Early Withdrawal Penalty on any CD with a term of 12 months or less is 90 days interest on the amount being withdrawn.
Availability
Headquartered in Dubuque, Iowa, DuTrac Community Credit Union’s field of membership (FOM) is residency based, with individuals who live or work in any of 16 northeast Iowa counties, four northwest Illinois counties, or one southwest Wisconsin county eligible for membership.
Iowa Counties: Allamakee, Buchanan, Cedar, Clayton, Clinton, Delaware, Dubuque, Fayette, Jackson, Johnson, Jones, Linn, Louisa, Muscatine, Scott, and Winneshiek
Illinois Counties: Henry, Jo Daviess, Rock Island, and Whiteside
Wisconsin County: Grant
Family members of current DuTrac CCU members also qualify for membership.
Joining DuTrac CCU can be done online, or in person at any of the seven Iowa branches located in Clinton, Davenport, Dubuque, Dyersville, Eldridge, Maquoketa, and Monticello that are currently opened to walk-in traffic. The sole Illinois branch in Moline is also open to walk-in traffic.
According to DuTrac CCU’s Locations page, the branch locations that are temporarily closed are,
- W Kimberly Road, Davenport
- Peru Road, Dubuque
- E 14th Street, Dubuque
- Walmart, Dubuque
- Holliday Drive, Dubuque
A Jumbo Certificate Special can be opened at any of the above-mentioned branches, but not online. According to DuTrac CCU’s Savings page,
If you would like to open a Certificate of Deposit please contact a highly qualified financial services consultant by email at [email protected], by phone at (563) 582.1331 or (800) 475.1331, or stop into any of DuTrac’s convenient office locations.
Opening a Share Savings account ($5 minimum opening deposit) is required when joining DuTrac CCU.
Credit Union Overview
DuTrac Community Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 3.40% (excellent) based on June 30, 2020 data. In the past year, DuTrac CCU has increased is total non-brokered deposits by $84.58 million, an excellent annual growth rate of 13.19%. Please refer to our financial overview of DuTrac Community Credit Union (NCUA Charter # 64471) for more details.
Chartered in 1946, DuTrac Community Credit Union was originally known as the John Deere Dubuque Tractor Works Credit Union, established for the benefit of the Dubuque Tractor Works employees. Like so many fledgling credit unions, DuTrac CCU started its journey in a small office (inside the plant), with few members (56), and modest capital (about $2,000 in deposits and outstanding loans of $1,195). Following a charter change, natural growth, and mergers with a few other credit unions, DuTrac CCU is currently Iowa’s fifth largest credit union, with more than 48,500 members and assets in excess of $838 million.
How the Jumbo Certificate Special Compares
Given the multi-state FOM, a comparison to nationally available CDs is appropriate. When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are nationally available, DuTrac Community Credit Union's 12-month Jumbo Certificate Special currently ranks first, regardless of minimum deposit requirements.
The above rates are accurate as of 11/19/2020.
To look for the best CD rates, both nationwide and in your state, please refer to our CD Rates Table page.
