El Paso Area Teachers Federal Credit Union (better known as TFCU) is currently offering a very competitive 60-month Jumbo Share Certificate. Deposits of $50k+ earns 2.61% APY, with no stated balance cap. There’s also a 60-month Regular Share Certificate ($500 minimum) that earns 2.51% APY.
Both versions of the Share Certificate are also available as IRAs (Traditional, Roth, CESA), earning the same APYs with the same deposit requirements.
As stated in the Truth-In-Savings disclosure, the rather substantial Early Withdrawal Penalty reads as follows:
Terms of 60 months – 600 days dividends
Headquartered in El Paso, Texas, TFCU’s field of membership (FOM) is primarily residency based, with individuals who live, work, worship, or attend school in El Paso County eligible to join.
Although not listed on TCFU’s Become A Member page, employees and students of 14 El Paso area school districts qualify for membership, as do the employees of several SEGs. (Details are available on TFCU’s online application.)
Joining TFCU can be done online, but opening a Share Certificate normally requires a branch visit. TFCU has temporarily suspended lobby service at the eight El Paso and one Horizon City branch locations but,
At this time, all branch drive-thrus will remain open Mondays thru Fridays from 8:00am to 6:00pm and Saturdays from 9:00am to 12:00pm. All services that you would normally do at a branch are available through our drive thru.
According to CSR, opening a Share Certificate currently requires calling 915-843-8328 during normal business hours. The majority of the opening process can be done over the phone and any required signatures can be done at a drive-thru.
The minimum balance required to open a share savings account for membership is $25.00.
Credit Union Overview
El Paso Area Teachers Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.36% (excellent), based on December 31, 2019 data. In the past year, TFCU has increased its total non-brokered deposits by $5.44 million, an above average annual growth rate of 0.96%. Please refer to our financial overview of TFCU (NCUA Charter # 1409) for more details.
Opening its doors for business in 1936, the El Paso Area Teacher Federal Credit Union was founded by a group of teachers who wanted access to quality financial products and services. In addition to a change to a community charter, the membership increased substantially about ten years ago when Golden Key Credit Union merged into TFCU. TFCU is currently the 40th largest credit union in Texas, with more than 62,000 members and assets in excess of $665 million.
How the Jumbo Share Certificate Compares
When compared to 216 similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, TFCU’s 60-Month Jumbo Share Certificate APY* currently ranks first, regardless of deposit requirements.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|2.61% APY||60-Month Jumbo Share Certificate ($50k min)||TFCU|
|2.51% APY||60-Month Regular Share Certificate ($500 min)||TFCU|
|2.16% APY||5-Year Jumbo Certificate ($50k min)||Advancial|
|2.12% APY||60-Month CD ($50k min)||Generations Credit Union|
The above rates are accurate as of 5/15/2020.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.
*We continue to update our rates tables, but are just too many rate cuts for us to process the changes quickly. For the time being, please be aware that the rates listed at DepositAccounts may not reflect the latest rates published by the banks and credit unions.