Now through July 31, 2015, Encompass Credit Union (Encompass CU) is offering two CD Specials: 14-month CD (1.00% APY) and 25-month CD (2.00% APY). The minimum deposit is $500 of new money and there is no maximum balance cap.
According to CSR, the Early Withdrawal Penalty (EWP) is based on the amount of time left until maturity:
- More than 1 year left until maturity – 3 months interest EWP
- Less than 1 year left until maturity – 1 month interest EWP
Headquartered in Tipton, Encompass Credit Union offers membership to individuals who live, work, worship, or attend school in Tipton County or Clinton County, Indiana.
Encompass CU also offers membership to immediate family members of current or eligible Encompass CU members. "Immediate family" is defined, in this case, as spouse, children, siblings, parent, grandparent, grandchildren, with step, adoptive, and in-law relationships also being included.
Joining Encompass CU and/or opening one of the CD Specials requires an in-person visit to any of four Indiana branches located in Elwood, Frankfort (2), and Tipton. At this time, Encompass CU’s online banking service, Home Bank NetTeller, is for account management and bill payment services.
Credit Union Overview
Encompass Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas ratio of 7.51% (excellent) based on March 31, 2015 data. Encompass CU has an excellent capitalization level of 11.59%, a result of holding $165.37 Million in assets, with $19.17 Million in equity. Please refer to our financial overview of Encompass Credit Union for more details.
Encompass Credit Union (NCUA Charter # 8548) is the product of the 2001 merger between Steel Parts Credit Union (founded 1953) and Nickle Plate Industrial Credit Union (founded 1951). Both Steel Parts and Nickle Plate were established for the benefit of the employees of two of Indiana’s then largest industries: steel manufacturing and the railroads. The change to a community charter also accompanied the merger, expanding the field of membership. Today, Encompass CU has over 16,000 members and assets in excess of $165 Million.
How the CDs Compare
When compared to the 314 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available to Indiana residents, Encompass Credit Union's 20-month CD currently ranks second.
The above rates are accurate as of 7/23/2015.
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.