Excite Credit Union Offers High CD Rates, Short- and Long-Term

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Deal Summary: CDs – 12-month (2.20% APY), 24-month (2.25% APY), 48-month (2.50% APY), and 60-month (2.65% APY), $500 minimum deposit.

Availability: Residents of six Northern California counties and three North Carolina Tidewater counties; employees of 400+ SEGs.

California-based Excite Credit Union (formerly Alliance Credit Union) has a CD product line that offers some excellent rates, ranging from 2.20% APY (12-month) to 2.65% APY (60-month). The minimum opening deposit for any Excite CU CD is $500, with no stated balance cap.

All the CDs are also available as IRAs (Traditional, Roth, and CESA), earning the same APY with the same funding requirements.

The Truth-in-Savings disclosure for CDs is not available on Excite CU’s website, but a very helpful CSR emailed me a copy. As stated in the document, the Early Withdrawal Penalty reads as follows:

90 days’ dividends if the certificate is less than 24 months or 180 days’ dividends if the certificate term is 24 months or longer. These penalties will apply even if principal is invaded.

If an early withdrawal reduces the account below the specified minimum account balance to open and earn dividends, all dividends will be forfeited, the certificate will be closed and the balance will be transferred to your regular share account.

Go Savings Account

Excite CU is currently offering a promotional rate on Go Savings accounts opened by new members: balances up to $2.5k will earn 5.00% APY, guaranteed for one year. Balances over $2.5k earn the standard dividend rate, which is currently 0.10% APY.

Depositing the maximum amount ($2.5k) for one year would return dividends of $125. By itself, the promotional 5% APY probably isn’t enough to justify joining Excite CU, but if you’re going to become a member to open a CD(s), this is an easy way to earn an extra $125.

Availability

Headquartered in San Jose, California, Excite Credit Union’s field of membership (FOM) is primarily residency based, with individuals who live, work, worship, or attend school in the California counties of Alameda, Monterey*, San Francisco*, San Mateo, Santa Clara, or Santa Cruz*, or the North Carolina counties of Brunswick, New Hanover, or Pender, eligible to join.

*Added to the FOM in October 2019.

Employees of more than 400 SEGs (listed on first page of the online application) qualify for membership.

Family members and household members of current Excite CU members are also eligible. Family members, in this instance, are defined as, “spouse, child, sibling, parent, parent-in-law, grandparent, grandchild, stepchild, stepparent, stepsibling, adopted child, foster child, brother or sister in-law, aunt, uncle, aunt-in-law, uncle-in-law, niece, nephew or cousin.”

Joining Excite CU and/or opening a CD can be done online, or at any of four California branches located in San Jose (3) and Sunnyvale, or two North Carolina branches, both located in Wilmington.

To establish a new membership with Excite CU,

Fill out a Membership Application and deposit $30 ($5 lifetime membership fee
plus $25 opening balance) into a Regular Share Account. Then enjoy the benefits!

Excite CU participates in both the CO-OP Share Branch and ATM networks.

Credit Union Overview

Excite Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 5.70% (excellent) based on September 30, 2019 data. In the past year, Excite CU has increased its total non-brokered deposits by $12.74 million, an above average annual growth rate of 2.99%. Please refer to our financial overview of Excite Credit Union (NCUA Charter # 68441) for more details.

Founded in 1952 by a group of General Electric employees, Excite Credit Union is currently California’s 82nd largest credit union, with more than 40,200 members and assets in excess of $492 million. Previously known as Alliance Credit Union, the Excite re-brand occurred in October 2019.

The name change is not the result of a merger or acquisition of any kind. The name change is part of a comprehensive plan to grow and continue building a healthy and sustainable organization serving you and future generations.

The Alliance name has served us well, but as we look at who we are today and how our membership has transformed over the years, we want a name that really reflects us without any confusion on who we are. Before even considering a name change, we surveyed members and employees to get input about the name change. The name Excite better expresses our goals, and our commitment to the communities we serve.

How the CDs Compare

When compared to the similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available with the FOM in both California and North Carolina, Excite Credit Union's 12-month CD APY currently ranks first.

When compared to the similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available with the FOM in both California and North Carolina, Excite Credit Union's 24-month CD APY currently shares the top spot with PenAir Federal Credit Union’s 24-month CD APY.

When compared to the similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available with the FOM in both California and North Carolina, Excite Credit Union's 48-month CD APY currently shares the top spot with Affinity Plus Federal Credit Union’s 48-month CD APY.

When compared to the similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available with the FOM in both California and North Carolina, Excite Credit Union's 60-month CD APY currently ranks first.

The above rates are accurate as of 3/5/2020.

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

Related Pages: Wilmington CD rates, San Francisco Bay CD rates, 1-year CD rates, 5-year CD rates, IRA CD rates

Comments
FunSun
  |     |   Comment #1
Excite Credit Union Offers anonymously added.
Duck
  |     |   Comment #2
What are you talking about Anonymous

"POSTED ON THURSDAY, MARCH 5, 2020 BY Ken Tumin"
JTE
  |     |   Comment #3
Be aware - and beware - this place is one that uses "verify your identity by answering half a dozen questions and your real answers won't match up with our fictitious ones so **** you, pal". Their customer service people answer the phone fairly quickly and are very friendly but not particularly helpful. Also, this was the first time I've ever been asked my monthly income to open a savings account. Had to email a copy of a recent utility bill to prove I reside where I've lived for four decades - and I'm still waiting to find out if they're going to open my account or not. If you live near enough to walk into a branch, you might not have those problems, but the interest rate isn't good enough for a seventy year old woman to take multiple types of public transportation to travel forty miles to get to one of their branches.
Anonymous
  |     |   Comment #4
I was able to open CD online on 3/6, but I’ve been a member for 40 years.
Rates have dropped as follow:
12 month from 2.20 to 1.75
24 month from 2.25 to 2.00
48 month from 2.50 to 2.25
60 month from 2.65 to 2.50
Alliance CU (CA/NC) Raises Rate On 48-Month CD
Availability: Residents of Alameda, Santa Clara, and San Mateo Counties, California, and Brunswick, New Hanover, and Pender Counties, North Carolina; Employees of 400+ SEGs.

Alliance Credit Union (Alliance CU) recently raised the rate on its 48-month Share Certificate (2.00% APY). The minimum opening deposit is $500, with no stated balance cap.

The 48-month Share Certificate is also available as an IRA (Traditional, Roth, and CESA), earning the same APY with the same funding requirements.

The current 2.00% APY is the highest rate the 48-month Share Certificate has experienced, since...

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5.75% 5-Month CD at a California/North Caralina CU (Alliance)
Alliance Credit Union is offering a special 5.75% APY 5-month share certificate. The minimum deposit is $5,000. It requires a checking account to receive the full 5.75% APY. Without a checking account the APY is 5.50%. They do offer a free checking account with no monthly fees.

The field of membership includes anyone who lives, works, worships or attends school in the counties of Santa Clara, San Mateo and Alameda in California; and New Hanover, Pender or Brunswick counties in North Carolina. In addition, there are over 400 select employer groups...

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