Encompass Credit Union (IN) Long-Term CD Rates Soar

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Deal Summary: CDs – 36-, 48-, and 60-month CDs, 3.04% APY, $500 minimum deposit

Availability: Residents of Clinton, Howard, and Tipton Counties, Indiana.

Encompass Credit Union (ECU) is currently offering a very competitive 3.04% APY on its 36-, 48-, and 60-month CDs. The minimum opening deposit is $500, with no stated balance cap. With quite substantial increases of 204 bps, all three CDs are offering all-time high APYs.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.04%$500-Encompass Credit Union36 Month CD
3.04%$500-Encompass Credit Union48 Month CD
3.04%$500-Encompass Credit Union60 Month CD
Rates as of June 26, 2022.

According to CSR, the Early Withdrawal Penalty (EWP) 90 days of dividends.

The exceedingly mild EWP makes the 60-month CD even more competitive. If rates should fall over the next year or remain stagnant, you’re still earning 3.04% APY; if rates continue to rise, the loss of three months of dividends could be offset by an excellent APY offered elsewhere.

Looking at this populated CD Early Withdrawal Penalty Calculator, you can see how competitive the effective yields of the 60-month CD are when closed early.

Availability

Headquartered in Tipton, Indiana, Encompass Credit Union’s field of membership (FOM) is community-based, with individuals who live, work, worship, or attend school in the Indiana counties of Clinton, Howard, or Tipton eligible to join.

Spouses, children, and parents of current ECU members or membership-eligible individuals also qualify for membership.

Joining ECU and/or opening a CD requires an in-person visit to any of four Indiana branches located in Frankfort (2), Kokomo, and Tipton. Home Bank NetTeller, ECU’s online banking platform, is currently devoted to account management and bill payment services.

To become a member, simply open a savings account with
a minimum deposit of $5 at any of our branch locations.

Credit Union Overview

Encompass Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.70% (excellent) based on March 31, 2022 data. In the past year, Encompass CU has increased its total non-brokered deposits by $8.16 million, an excellent annual growth rate of 3.92%. Please refer to our financial overview of Encompass Credit Union (NCUA Charter # 8548) for more details.

Encompass Credit Union is the result of the 2001 merger of 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. Encompass Credit Union is currently Indiana’s 27th largest credit union, with nearly 17,000 members and assets in excess of $240 million.

How the 36-, 48-. 60-Month CDs Compare

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available nationally and have minimum deposit requirements of $10k or less, one credit union has a higher rate than currently offered on the Encompass Credit Union 36-, 48-, and 60-month CDs. The following tables compares the 36-, 48-, and 60-month CDs to the two highest-rate same term-length CDs from other credit unions and the two highest-rate CDs from banks.

APYCD Term (Early Withdrawal Penalty)Credit Union/Bank
3.25%36-Month Certificate Special (EWP=360 days)USALLIANCE Financial
3.04%36-Month CD (EWP=90 days)Encompass Credit Union
3.04%MYSB Direct Online CD (EWP=90 days)M.Y. Safra Bank
3.01%36-Month Certificate (EWP=180 days)Connexus Credit Union
2.81%3-Year CD (EWP=730 days)Quontic Bank

APYCD Term (Early Withdrawal Penalty)Credit Union/Bank
3.11%48-Month Certificate (EWP=180 days)Connexus Credit Union
3.04%48-Month CD (EWP=90 days)Encompass Credit Union
2.60%4-Year Money Market Certificate (EWP=maximum 36% of maturity dividends)USALLIANCE Financial
2.80%4-Year CD (EWP=180 days)Crescent Bank
2.80%4-Year Bread Savings CD (EWP=365 days)Bread Financial

APYCD Term (Early Withdrawal Penalty)Credit Union/Bank
3.21%60-Month Certificate (EWP=365 days)Connexus Credit Union
3.04%60-Month CD (EWP=90 days)Encompass Credit Union
2.86%5-Year CD (EWP=730 days)Quontic Bank
2.85%5-Year CD (EWP=180 days)Crescent Bank
2.80%5-Year Money Market Certificate (EWP=maximum 36% of maturity dividends)USALLIANCE Financial

The above information and rates are accurate as of 6/13/2022.

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

Related Pages: Indianapolis CD rates, 5-year CD rates

Comments
NYCnative
  |     |   Comment #1
US Alliance 36 mo Special Certificate down to 2.25%
Encompass Credit Union Offers Competitive Rate On Long-Term CDs
Update 2/19/21: The CD rates have fallen since this article was first published. Please refer to this rates table for the latest rates.

Availability: Residents of Clinton, Howard, and Tipton Counties in Indiana.

Encompass Credit Union (ECU) is currently offering 1.51% APY on its 36-, 48-, and 60-month CDs. The minimum opening deposit is $500, with no stated balance cap. While these rates have been in effect since July, they’ve become more competitive in the past few months, as the rate climate has continued to cool down.

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Encompass Credit Union (IN) Offers 24-Month CD, 3.04% APY
Deal Summary: 24-month CD, 3.04% APY, $500 minimum deposit

Availability: Residents of Clinton, Howard, and Tipton Counties in Indiana.

Encompass Credit Union (Encompass CU) is offering 3.04% APY on its 24-, 36-, 48-, and 60-month CDs. The minimum opening deposit is $500, with no maximum balance cap. While these rates have been in place for some time, they’ve become more competitive in the past few months, as the rate climate has been cooling down.

According to CSR, the Early Withdrawal Penalty (EWP) is based on the amount...

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Encompass CU (IN) Has Limited Time High Rate 25-Month CD
Availability: Residents of Tipton County and Clinton County, Indiana

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...

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Top CD Rates in Central Indiana at Encompass Credit Union

It's often the case that the best CD rates are only available at small credit unions with narrow fields of membership. I'm afraid this is another one of those cases. Hopefully there will be a few readers who will be eligible to take advantage of these very competitive rates at Encompass Credit Union. The best one is a 2.53% APY 5-year CD. The shorter-term CDs are also very competitive. These include a 2.02% APY 3-year CD and a 1.26% APY 1-year CD. Minimum deposit is $500. These rates are listed...

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6.17% 19-Month CD at an Indiana CU (Steel Parts)
Steel Parts FCU is offering a special 6.17% APY 19-month share certificate. The minimum deposit is $500.

The field of membership includes anyone who lives, works, worships or attends school in the Indiana counties of Tipton or Clinton.

Branches are located in Tipton, Elwood and Frankfort, Indiana. These cities are about 30 miles north of Indianapolis.

The credit union is NCUA insured. It has $66.5 million in assets and over 13K members.





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