Energy Capital Credit Union (ECCU) has added 80 bps to its 12-month CD. The new 1.00% APY is currently the highest 1-year CD rate in the Houston area. The minimum opening deposit is $1k, with no stated balance cap.
As stated in the Current Rates page, the Early Withdrawal Penalty reads as follows:
The penalty shall be equal to 90 days of dividends for Terms of less than 12 months and 180 days of dividends for Terms 12 months or greater.
You may not make partial withdrawals of principal prior to the maturity date.
No penalty will be imposed if withdrawal of principal is made following your death or your total and permanent adjudicated disability.
Dividends are be compounded monthly and credited monthly and can be transferred to an ECCU savings or checking account.
There is grace period of ten calendar days before a CD automatically renews.
Headquartered in Houston, Texas, Energy Capital Credit Union’s field of membership (FOM) is primarily residency-based, with individuals who live in Harris County or Montgomery County eligible to join.
According to ECCU’s online application, individuals who live, work, or worship in any of 44 specified Zip Codes in Harris and Montgomery Counties also qualify for membership.
Employees and contractors of 18 Houston area businesses (including ExxonMobile) are also eligible to join.
Relatives and household members of a current ECCU member are welcome to apply. ECCU does not provide a definition of “relatives” on its website.
The online application also states that anyone affiliated with "Bank on Houston/Hire Houston Youth" or "SER – Jobs for Progress" is membership eligible.
Joining ECCU and/or opening a CD can be done online or at any of the three Texas branches located in Houston and Spring (2). Access to the ExxonMobile Campus branch location in Spring is limited to ExxonMobile employees.
Every member at Energy Capital begins with a Regular Savings Account. It’s the
first account you open and where your original $5 membership share lives.
ECCU participates in both the CO-OP Shared Branch network and the ATM network.
Credit Union Overview
Energy Capital Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 5.04% (excellent) based on March 31, 2021 data. In the past year, ECCU has increased its total non-brokered deposits by $25.99 million, an excellent annual growth rate of 13.45%. Please refer to our financial overview of Energy Capital Credit Union (NCUA Charter # 61936) for more details.
Energy Capital Credit Union is currently the 86th largest credit union headquartered in Texas, with more than 17,600 members and assets in excess of $244 million. Founded in 1934, the chartering members were Humble Oil employees who “decided to lend to each other to help free one another from the harsh lending practices” of local loan sharks.
While a well-known brand in Texas, Humble Oil and Refinery (founded in 1911) is not that familar to most Americans. A 50% interest in the company was acquired by Standard Oil of New Jersey in 1919, with the remainder of Humble Oil acquired in 1959. Standard Oil of New Jersey rebranded as Exxon Corporation in 1973.
How the CD Compare
When compared to 296 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Energy Capital Credit Union’s 12-month CD APY currently ranks first.
The above information and rates are accurate as of 7/5/2021.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table.