EFCU Financial Steady CD Rates Have Become Market Leaders

EFCU Financial (EFCU) CD rates have not changed in the past 17 months and have become more competitive as the majority of other CD rates have fallen. While all the EFCU Jumbo CDs ($100k minimum) offer very good rates, the 6-month Jumbo CD (0.85% APY) and 60-month Jumbo CD (1.35% APY) are the most competitive. EFCU also has non-Jumbo CDs ($500 minimum) in all term-lengths that offer APYs a uniform 10 bps lower.

The Jumbo IRA CDs ($100k minimum) earn APYs a uniform 10 bps higher than the Jumbo CDs, with the 60-month Jumbo IRA CD currently earning 1.45% APY.

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

Availability

UPDATE Headquartered in Baton Rouge, Louisiana, EFCU Financial’s field of membership (FOM) includes an easy membership requirement: any U.S. citizen/resident alien is eligible to join through a membership in the EFCU Financial Foundation or the Louisiana Wildlife Foundation.

Individuals who live, work, worship, or attend school in the Louisiana parishes of Ascension, East Baton Rouge, East Feliciana, Iberville, Livingston, Point Coupee, St. Helena, West Baton Rouge, or West Feliciana also qualify for membership.

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

According to CSR, joining EFCU and/or opening a CD can be done online or at any of eight Louisiana branches located in Baton Rouge (4), Dedham, Gonzales, Prairieville and Zachary.

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 1.42% (excellent) based on June 30, 2021 data. In the past year, EFCU has increased its total non-brokered deposits by $86.62 million, an excellent annual growth rate of 17.9%. 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 53,500 members and assets in excess of $687 million.

How the Jumbo CDs Compare

When compared to 230 similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, EFCU Financial's 6-month Jumbo CD APY currently shares the top spot with Veridian Credit Union’s 9-month Jumbo CD Special.

When compared to 205 similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, EFCU Financial's 60-month Jumbo CD APY currently shares the top spot with Abound Credit Union’s 59-month CD.

The above information and rates are accurate as of 10/23/2021.

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