EFCU Financial 12-Month Jumbo CD Earns 2.25% APY

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Deal Summary: 12-month Jumbo CD, 2.25% APY, $100k. 12-month Jumbo IRA, 2.35% APY, $100k.

Availability: Residents of nine Louisiana parishes (Baton Rouge area).

Even though EFCU Financial’s (EFCU) 12-month Jumbo CD recently lost 10 bps, its 2.25% APY is still a rate leader. All of EFCU’s IRAs earn APYs a uniform 10 bps higher, with the 12-month Jumbo IRA currently earning 2.35% APY. Both the Jumbo CD and Jumbo IRA require a minimum opening deposit of $100k.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.00%$100k-EFCU Financial12 Month Jumbo IRA (Traditional, Roth, CESA)
0.90%$100k-EFCU Financial12 Month Jumbo CD
Rates as of May 31, 2020.

The non-Jumbo versions of both the 12-month CD and IRA earn APYs 10 bps lower. The minimum opening deposit is $500.

APYMINMAXINSTITUTIONPRODUCTDETAILS
0.90%$500-EFCU Financial12 Month IRA (Traditional, Roth, CESA)
0.80%$500-EFCU Financial12 Month CD
Rates as of May 31, 2020.

According to CSR, the Early Withdrawal Penalty for CDs/IRAs with terms of 12 months or greater is a loss of six months’ dividends.

Availability

Headquartered in Baton Rouge, Louisiana, EFCU Financial’s field of membership (FOM) is residency-based, with individuals who live, work, worship, or attend school in the Louisiana parishes of Ascension, East Baton Rouge, East Feliciana, Feliciana, Livingston, Point Coupee, St. Helena, West Baton Rouge, or West Iberville, qualifying for membership.

Immediate family (spouse, parent, grandparent, child, grandchild, and sibling) or household members of current EFCU members are also eligible to join.

Joining EFCU can be done online or at any of eight Louisiana branches located in Baton Rouge (4), Dedham, Gonzales, Prairieville and Zachary. Opening a CD requires an in-person visit to any of the eight branch locations.

Once you become an EFCU Financial member, you remain
a member as long as you keep $5 in your Share Account.

In addition to offering members access to the CO-OP Shared Branch and ATM networks, the

EFCU Financial debit card can be used to access your money
nationwide at more than 55,000 ATM's in the Allpoint network.

Credit Union Overview

EFCU Financial has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.23% (excellent) based on September 30, 2019 data. In the past year, EFCU has increased its total non-brokered deposits by $67.11 million, an excellent annual growth rate of 19.47%. Please refer to our financial overview of EFCU (NCUA Charter # 13) for more details.

In 1937, more than 175 Stanocola Processing Plant employees formed the Stanocola Processing Employee’s Federal Credit Union, with an initial deposit of $941.70. As the ownership of the Plant changed (ultimately owned by Exxon), so did the Credit Union’s name, with a total of five name changes between 1949 and 1994. In the early 2000s there were several mergers, including the 2003 merger with EXCO FCU, which has the distinction of being the largest credit union merger in Louisiana history. Following a change to a community charter in 2007, the Credit Union experienced its largest growth spurt. The EFCU (Exxon Federal Credit Union) Financial name was adopted in 2015, and today, EFCU is Louisiana’s fifth largest credit union, with more than 45,300 members and assets in excess of $520 million.

How the Jumbo CD Compares

When compared to 239 similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, EFCU Financial's 12-month Jumbo CD APY currently ranks first, regardless of minimum deposit requirements.

To look for the best CD rates, both nationwide and in your state, please refer to our CD Rates Table page.

How the Jumbo IRA Compares

When compared to 239 similar length-of-term IRAs tracked by DepositAccounts.com that are available within the FOM, EFCU Financial's 12-month Jumbo IRA APY currently ranks second first, regardless of minimum deposit requirements.

To look for the best IRA rates, both nationwide and in your state, please refer to our IRA Rates Table page.

The above rates are accurate as of 1/13/2020.

Related Pages: Baton Rouge CD rates, 1-year CD rates

Comments
EFCU Financial 48-Month CD Earns Up To 3.50% APY
Deal Summary: 48-month CD – 3.40% APY ($500) and 3.50% ($100k). 48-month IRA – 3.50% APY ($500) and 3.60% ($100k).

Availability: Residents of nine Louisiana parishes (Baton Rouge area).

The original intent for this EFCU Financial (EFCU) blog post was to highlight the 48-month CD, which earns 3.40% APY ($500 min) or 3.50% APY ($100k min). All of EFCU’s CDs offer tiered APYs, with Jumbo CDs ($100k min) earning an extra 10 bps.

When I took a closer look at EFCU’s rate sheet, I...

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EFCU Financial (LA) Offers 84-Month Super 7 Variable Rate CD
Deal Summary: 84-month Super 7 Variable Rate CD, 2.75% APY, $500 minimum deposit.

Availability: Residents of nine Louisiana parishes (East Baton Rouge).

For the past few months, rising rates have been prevalent in short-term CDs, with long-term CD rates remaining stagnant. EFCU Financial (EFCU) is one of the few credit unions that has recently raised the rate on a long-term product: 84-month Super 7 Variable Rate CD (2.75% APY). The minimum opening deposit is $500, with no stated deposit cap.

As stated on EFCU's Rates...

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