E-Central Credit Union (CA) 60-Month CD Is A Rate Leader

POSTED ON BY

Deal Summary: 60-Month CD, 1.55% APY, $1k minimum deposit.

Availability: Residents of Southern California; possible easy membership requirement.

E-Central Credit Union’s (E-Central) 60-month CD currently earns 1.55% APY and can be opened with a minimum $1k deposit. For the majority of the last seven years, the rate offered on the 60-month CD was not competitive, with the APY staying at 1.75% APY until the rate dropped to 1.55% APY this past May. As the 1.55% APY remained constant over the past five months, it became more competitive as other rates fell.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.00*%$1k-E-Central Credit Union60 Month CD
1.00*%$1k-E-Central Credit Union60 Month IRA (Traditional, Roth, CESA)
Rates as of October 29, 2020.

The 60-month CD is also offered as an IRA CD (Traditional, Roth, CESA), earning the same APY based on the same deposit levels

As stated in the Truth-in-Savings disclosure, the Early Withdrawal Penalty reads as follows:

Where the term is more than one year, the loss will equal one-hundred eighty
(180) days of dividends on the amount withdrawn whether or not earned.

Availability

Headquartered in Pasadena, California, E-Central Credit Union’s field of membership (FOM) includes a quasi-easy membership requirement (EMR). E-Central’s Membership Eligibility page lists “belong to another credit union” as one of the qualifying criteria. CSR confirmed that anyone who is a member of any other credit union in the U.S. is eligible for E-Central membership, but a in-person visit to a branch is necessary to join. There is no online application and CSR said the Membership Application PDF must be returned in-person. So in theory, E-Central is an EMR credit union, but for practical purposes, the FOM is limited to Southern California.

Individuals who live, work, worship, or attend school in California’s San Gabrielle Valley, the city of Commerce, or 46 named neighboring cities of Commerce are eligible to join.

Employees of several Select Employee Groups also qualify for membership.

Family members or household partners of a current E-Central member in good standing are also welcome to apply.

Joining E-Central and/or opening a CD can be done at the sole branch located in Pasadena.

Due to the "shelter in place" order by Governor Newsom, we will be temporarily modifying our hours of operations at our corporate lobby in Pasadena. Beginning Monday, July 6, 2020, the lobby will only be open Monday, Wednesday, and Friday with new hours, 9:00 am to 4:00 pm.

Establishing an E-Central membership requires opening a Membership Savings account with a $25 minimum deposit.

E-Central participates in both the CO-OP Shared Branching and ATM networks, allowing members to access their accounts at over 5,000 branch locations.

You’ll feel right at home at thousands of CO-OP Shared Branch locations nationwide. You can make deposits and get cash back, make a loan payment or transfer funds between your E-Central accounts.

Credit Union Overview

E-Central Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 1.01% (excellent) based on June 30, 2020 data. In the past year, E-Central has increased its total non-brokered deposits by $19.58 million, an excellent annual growth rate of 15.11%. Please refer to our financial overview of E-Central Credit Union (NCUA Charter #62323 ) for more details.

Established in 1943, E-Central Credit Union was originally known as Southern California Credit Union. According to the most recent [email protected] newsletter,

For our part, we are very proud to have been an early adopter of the CARES Act. Along with providing loan payment relief to our Members that total over $10 million in outstanding loan balances, we are one of the few credit unions in Los Angeles County to have offered the Paycheck Protection Program PPP loan product. As an SBA Preferred Lender Partner, E-Central has funded nearly $7 million in this critical and important program that keeps Americans employed during this time of crisis.

How the CD Compares

When compared to 254 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, E-Central Credit Union's 60-Month CD APY currently ranks first.

The above rates are accurate as of 9/24/2020.

To look for the best CD rates, either nationwide or state specific, please refer to our CD Rates Table page.

Related Pages: Los Angeles CD rates, 5-year CD rates

Comments
planxy
  |     |   Comment #1
Something fishy here. A "Digital" credit union with services throughout the Nation.  But limited to people who can come in to 1 place open a few hours a week to apply during a pandemic? My ancestors opened a similar bank serving one county seat in 1815!
Competitive CD Rates at E-Central Credit Union in Los Angeles - Easy Membership

E-Central Credit Union continues to offer some competitive long-term CD and IRA CD rates. These include a 2.62% APY 5-year CD, a 2.27% APY 4-year CD and a 1.97% APY 3-year CD. Minimum deposit for these rates is $10,000. Slightly higher rates are available for a $50K and $100K minimum deposit. These rates are listed in the credit union's rates page as of 2/3/2011.

According to the credit union's disclosure, the early withdrawal penalty for terms over 1 year is "180 days dividends on the amount withdrawn whether or not earned."

As...



Continue Reading
Competitive CD and IRA CD Rates at E-Central Credit Union in Los Angeles - Easy Membership

E-Central Credit Union is offering some competitive long-term CD and IRA CD rates. These include a 2.87% APY 5-year CD, a 2.62% APY 4-year CD and a 2.27% APY 3-year CD. Minimum deposit for these rates is $10,000. Slightly higher rates are available for a $50K and $100K minimum deposit. These rates are listed in the credit union's rates page as of 9/15/2010.

According to the credit union's eligibility page, one of the criteria to be eligible to join the credit union is if you "belong to another credit union". I...

Continue Reading
2.00% 12-Month Semi-Liquid CD at E-Central Credit Union in CA - Easy Membership
E-Central Credit Union continues to offer a special 12-month semi-liquid CD. The rate has fallen since my June post, but it remains competitive with a 2.00% APY. This special is listed in the credit union's News Center page as of 10/26/09.

The credit union calls this 12-month CD a liquid certificate since you're allowed to withdraw as often as every 7 days up to 50% of the initial deposit. Your funds are available 30 days after you open the certificate. Minimum deposit is $5,000, and new money is required.

Membership is...



Continue Reading
2.25% 12-Month Semi-Liquid CD at E-Central Credit Union in CA - Easy Membership
E-Central Credit Union is still offering a special 12-month semi-liquid CD. The rate has fallen since my May post, but it remains competitive with a 2.25% APY. The 3-year CD remains the same with a 2.85% APY. These special CDs and rates are listed in the credit union's News Center page as of 6/21/09.

The credit union calls this 12-month CD a liquid certificate since you're allowed to withdraw as often as every 7 days up to 50% of the initial deposit. Your funds are available 30 days after you open...

Continue Reading
2.50% 12-Month Liquid CD at E-Central Credit Union In California - Easy Membership
E-Central Credit Union is offering two special liquid certificates. The most competitive has a 2.50% APY and a 1-year term. The other one has a 2.85% APY and a 3-year term. Minimum deposit is $5,000 (new money). The liquid feature allows you to withdraw funds as often as every 7 days for up to 50% of the initial deposit. Your funds are available 30 days after you open the CD. These special CDs and rates are listed in the credit union's News Center page as of 5/29/09.

This credit union has...

Continue Reading

More Past Offers



The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.