F&A FCU (CA) Continues To Offer Very Competive Rate CDs

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Availability: Mainly City and County employees (including uniformed employees) in Southern California

Over the past five years, I’ve written about F&A Federal Credit Union’s (F&A) many competitive Certificates (CDs) and their somewhat restricted field of membership. Good news for F&A members: with increases this week, those rates continue to be among the highest available in California.

All the CDs listed below can be opened with a $1K minimum deposit and there are no maximum balance caps. F&A offers Jumbo CDs that require a $50K minimum, but the APYs are the same as the Regular CDs. All CDs (Regular and Jumbo) are offered as IRAs (Traditional, Roth and SEP), earning the same APYs with the same funding requirements.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.28%$1k-F&A Federal Credit Union60 Month Term Share Certificate
2.28%$1k-F&A Federal Credit Union60 Month IRA Term Share Certificate (Traditional, Roth, SEP)
1.87%$1k-F&A Federal Credit Union48 - 59 Month Term Share Certificate
1.87%$1k-F&A Federal Credit Union48 - 59 Month IRA Term Share Certificate (Traditional, Roth, SEP)
1.66%$1k-F&A Federal Credit Union36 - 47 Month Term Share Certificate
1.66%$1k-F&A Federal Credit Union36 - 47 Month IRA Term Share Certificate (Traditional, Roth, SEP)
1.51%$1k-F&A Federal Credit Union24 - 35 Month Term Share Certificate
1.51%$1k-F&A Federal Credit Union24 - 35 Month IRA Term Share Certificate (Traditional, Roth, SEP)
1.36%$1k-F&A Federal Credit Union18 - 23 Month Term Share Certificate
1.36%$1k-F&A Federal Credit Union18 - 23 Month IRA Term Share Certificate (Traditional, Roth, SEP)
1.31%$1k-F&A Federal Credit Union12 - 17 Month Term Share Certificate
1.31%$1k-F&A Federal Credit Union12 - 17 Month IRA Term Share Certificate (Traditional, Roth, SEP)
Accounts mentioned in this post. Rates as of July 24, 2016.

The 12-17 Month CD also offers a one-time additional deposit.

A one-time additional deposit can be made to the regular 6 to 17 month Certificate Accounts, only in an amount no greater than the original deposit. The term and rate will not change with this deposit.

As stated in Truth in Savings brochure, the Early Withdrawal Penalty reads as follows:

For Accounts with a maturity of one year or more, the penalty shall be the lesser of all dividends earned for 180 days on the amount withdrawn, or all dividends earned on the amount withdrawn since date of issuance or renewal.

Availability

Headquartered in Monterey Park, membership in F&A Federal Credit Union is open to employees of the following organizations:

  • County of Los Angeles Fire Department
  • Avalon City Professional Firefighters, Local 229
  • Los Angeles County Fire Fighters, Local 1014
  • Los Angeles County Fire Museum Association
  • Hawthorne Police Officers Association
  • Los Angeles Lifeguards
    • Office of the Farm Advisory
    • County of Los Angeles Agricultural Commissioner Weights and Measure
    • Cooperative Agricultural Extension Program of the University of California
    • Ross & Scott, Attorneys at Law
    • West San Gabriel Valley Consortium

    F&A also offers membership to employees of cities that contract with the LA County Fire Department and other selected cities. For a list of those 52 cities and other eligibility categories, please refer to F&A's membership eligibility page for full details.

    Joining F&A and/or opening a CD can be done online, or at either of two Southern California branches located in Monterey Park and Whitter.

    Bank Overview

    F&A Federal Credit Union (NCUA #1493) has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 0.31% (excellent) based on September 30, 2015 data. In the past year, F&A has increased its total deposits by $55.98 Million, an excellent annual growth rate of 4.99%. Please refer to our financial overview of F&A Federal Credit Union for more details.

    Chartered in 1936, F&A Federal Credit Union was originally established to provide financial services to employees of the Los Angeles County Fire Department and Agricultural Department. From very modest opening day assets of $26, F&AF has grown to be one of the largest credit unions in America with over 43,800 members and assets in excess of $1.4 Billion.

    How the CDs Compare

    When compared to the similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available to California residents, all of the above mentioned F&A Federal Credit Union Certificates currently rank in the top three of their respective length of term categories. The F&A Certificates listed below have the most competitive rates.

    The above rates are accurate as of 12/4/2015.

    To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.

    Comments
    Anonymous
    Anonymous   |     |   Comment #1
    Was trying to find a bank shown on the 60 month chart listed as "American Bank". Can't find that one in the bank search on this site. Help please.
    F&A Federal Credit Union (CA) Continues To Offer Top-Rate CDs
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