Energy Capital Credit Union (ECCU) recently added an 18-month CD, which currently earns 1.06% APY. The minimum opening deposit is $1k, with no stated balance cap.
About six weeks ago, I wrote about ECCU’s 36-month CD (1.51% APY) and 60-month CD (1.76% APY), both of which saw substantial rate increases (105 and 100 bps, respectively) in September. These very competitive rates are still in effect, with ECCU offering the highest 3-year CD rate and the highest 5-year CD rate available in the Houston area.
|1.00%||$1k||-||Energy Capital Credit Union||60 Month CD|
|0.50%||$1k||-||Energy Capital Credit Union||36 Month CD|
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.
CSR stated the easiest way to fund a new CD is through an internal transfer from an ECCU savings or checking account.
Dividends will 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 community-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 17 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 5.19% (excellent) based on June 30, 2021 data. In the past year, ECCU has increased its total non-brokered deposits by $7.23 million, an excellent annual growth rate of 3.55%. Please refer to our financial overview of Energy Capital Credit Union (NCUA Charter # 61936) for more details.
Energy Capital Credit Union is currently the 89th largest credit union headquartered in Texas, with more than 17,600 members and assets in excess of $237 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 familiar 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 Compares
When compared to 215 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 18-month CD APY currently ranks first.
The above information and rates are accurate as of 11/11/2021.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table.