Meadville Area Federal CU Offers Very Competitive Short-Term CDs

UPDATE 10/6/2015: Meadville Area Federal Credit Union has returned to a tiered rate system and lowered rates on all its CDs.

• 6-month CD (0.65% APY)
• 9-month CD (0.70% APY)
• 12-month CD (0.75% APY)

Meadville Area Federal Credit Union (Northwest Pennsylvania) has simplified the sometimes confusing array of different interest rates for different length of terms: the same rate, 1.25% APY, for all CDs. This change to APY uniformity happened yesterday. The 1.25% APY is very attractive for the 6-, 9- and 12-month CDs, while not being as competitive for the 24- and 36-month CDs.

There is no minimum deposit to open, no maximum balance cap and all are available as IRAs (Traditional, Roth and CESA), at the same 1.25% APY.

Availability

Meadville Area Federal Credit Union’s (MAFCU) field of membership is residency based: anyone who lives, works, worships, volunteers, or attends school in, and businesses and other legal entities in Crawford County, Pennsylvania is eligible to become a member.

Joining MAFCU and opening any CD requires an in-person visit to either of two branch locations in Meadville or Titusville. The membership application process can be streamlined by printing out the application and completing it before your branch visit.

Meadville Area Federal Credit Union membership lasts forever:

Once you become a member, you remain a member, no matter where you live or work, as long as your account is not closed.

Credit Union Overview

Meadville Area Federal Credit Union has an overall health grade of B+ at DepositAccounts.com, with a Texas ratio of 6.99% (excellent) based on June 30, 2014 data. In the past year, MAFCU (NCUA Certificate # 6187) increased its total deposits by $37,000, an above average yearly growth rate. Please refer to our financial overview of Meadville Area Federal Credit Union for more details.

Founded in 1949, the original Viscose Employees Federal Credit Union served the employees of the American Viscose Corporation, a manufacturer of acetate rayon and the largest employer in Meadville. As company ownership and scope of the credit union changed, so did the credit union’s name: FMC Employees Federal Credit Union, Avtex Employees Federal Credit Union, and finally, Meadville Area Federal Credit Union. Currently, MAFCU has over 11,000 members and assets of in excess of $61 Million.

How the CD Compares

Obviously, with only one interest rate, the shorter the CD term, the more competitive it is. Based on similar length of term CDs tracked by DepositAccounts.com and available to Pennsylvania residents, Meadville Area Federal Credit Union’s short term CDs are quite competitive:

These rates are accurate as of 9/30/2014.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.