Financial Partners Credit Union Unveils "Name Your Term" CDs

POSTED ON BY

Deal Summary: 7-month Name Your Term CD Special, 4.40% APY, $1k minimum deposit, new money.

Availability: Easy membership requirement through the American Consumer Council; residents of Los Angeles, Orange, Riverside, and San Diego Counties, and the California cities of Alameda and South San Francisco; more tha 375 Select Employee Groups.

California-based Financial Partners Credit Union (FPCU) has added three “Name Your Term” CD Specials: 7-month, 11-month, and 17-month. All three CD Specials earn 4.40% APY, with the 7-month being the most competitive. The minimum opening deposit is $1k of new money; the “source of funds deposited into certificate may not be from an existing Financial Partners Credit Union account.” The Certificate & IRA Rates page lists Jumbo Name Your Term CD Specials ($100k minimum), but all three Jumbo CD Specials earn the same 4.40% APY.

All the Name Your Terms CDs are available as IRA CDs (Traditional and Roth) earning the same APYs, with the same funding requirements.

According to CSR, the Early Withdrawal Penalty for the 7-month CD Special is 90 days of dividends, with partial withdrawals allowed.

Availability

Headquartered in Downey, California, Financial Partners Credit Union’s field of membership (FOM) has expanded more than two years ago. Any U.S. citizen/resident alien with a valid Social Security number is now eligible to join FPCU through membership in the American Consumer Council.

The FPCU Become a Member page contains a sentence that is a bit misleading concerning who can join: “Employee and retirees of these employers can become a member.” While the overwhelming majority of SEGs are businesses with employees/retirees, ACC members are also eligible to join FPCU as confirmed in a Live Chat.

Individuals who live, work, or attend school in the California counties of Los Angeles, Orange, Riverside, or San Diego, or the California cities of Alameda or South San Francisco, are eligible to join.

Employees/retirees/members of more than 375 Select Employee Groups also qualify for membership. Some of the largest SEGs include Boeing Aircraft and Missile Division and Rockwell International.

Account Opening

Joining FPCU can be done online or at any of 13 California branches located in Brea, Costa Mesa, Downey (2), Irvine, Mission Viejo, Orange, Rancho Dominguez, San Diego, Seal Beach, South San Francisco, Whittier, and Woodland Hills.

Note: There are also five branches with restricted access located in Canoga Park (DeSoto Aerojet Rocketdyne), El Segundo (El Segundo Boeing), Loma Linda (VA Medical Center), San Diego (VA Medical Center), and Seal Beach (Seal Beach Boeing).

A Regular Share Savings account ($25 minimum deposit) is required to establish a PFCU membership, but a minimum balance of $100 is necessary to earn interest.

FPCU also participates in the both CO-OP Shared Branch and ATM networks.

The CO-OP Shared Branch Network is the second largest branch network in the country! With 5,600 locations coast to coast, you can conduct transactions on your Financial Partners accounts at participating credit unions nationwide!

Funding and Other Particulars

The following information was obtained from CSR in a phone conversation.

  • Funding – ACH, wire ($10 fee), check, or shared branch transfer.
  • CO-OP Shared Branch Participant – Yes.
  • Dividends – Compounded/credited monthly and with automatic transfer to Financial Partners savings/checking account .
  • Maturing Funds – ACH, wire ($30), cashier’s check, or internal transfer.
  • Beneficiaries – Unlimited, but Beneficiary Designation Form is limited to two; percentages can be assigned; Social Security number required.
  • Grace Period – 10 calendar days before automatic renewal.
  • Credit Check – None.

Credit Union Overview

Financial Partners Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 2.34% (excellent) based on September 30, 2022 data. In the past year, FPCU decreased its total non-brokered deposits by -$14.26 million, an average annual growth rate of -0.9%. Please refer to our financial overview of Financial Partners Credit Union (NCUA Charter # 68457) for more details.

Financial Partners Credit Union was originally established in 1937 as the North American Aviation Employees Federal Credit Union, as "the aerospace industry was looking to protect its workers from skyrocketing interest rates" – pun probably intended. Following several mergers with other aerospace industry associated credit unions and a change in its charter, FPCU is currently the 29th largest credit union headquartered in California, with nearly 88,000 members and assets in excess of $2.2 billion.

How the 7-Month Name Your Term CD Special Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available nationally and have minimum deposit requirements of $10k or less, two banks and two credit unions have higher rates than currently offered on the Financial Partners Credit Union 7-month Promo Certificate. The following table compares the 7-month CD Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 12/23/2022.

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

Related Pages: Los Angeles CD rates, San Francisco Bay CD rates, San Diego CD rates, 1-year CD rates, IRA CD rates, nationwide deals

Comments
twinlabs
  |     |   Comment #1
What is the "Name Your Terms" part if there is an established time, EWP, etc? What terms are left to choose from?

EDIT: ohhhhhh....it's their wording that's confusing me. They should've said "CHOOSE" Your Term"
Financial Partners Credit Union 60-Month Jumbo CD Overview
Deal Summary: 60-month Jumbo CD, 2.00% APY, $100k minimum.

Availability: Easy membership requirement through the American Consumer Council or AARP; residents of Los Angeles, Orange, Riverside, and San Diego Counties, and the California cities of Alameda and South San Francisco; nearly 700 Select Employee Groups.

One of my first 2020 blog posts was about Financial Partners Credit Union’s (FPCU) 60-month Jumbo CD. It was notable for two reasons: a competitive 3.00% APY and an easy membership requirement that was previously unknown to DA. While the rate...

Continue Reading
Financial Partners Credit Union Has 3.00% APY 60-Month Jumbo CD
Deal Summary: 60-month Jumbo CD, 3.00% APY, $100k minimum.

Availability: Easy membership requirement through the American Consumer Council or AARP; residents of Los Angeles, Orange, and San Diego Counties, and the California cities of Alameda and South San Francisco; nearly 700 Select Employee Groups.

What better way to start the New Year than with a nationally available CD offering 3.00% APY!

Although Financial Partners Credit Union’s (FPCU) 60-month Jumbo CD has been earning 3.00% APY for a few months, the easy membership requirement only became known to DA recently....

Continue Reading
Financial Partners CU (CA) 60-Month CD Remains Competitive
Availability: Residents of Orange County, CA; Residents of most of Los Angeles County; San Diego County residents employed in healthcare or active/retired members of Uniformed Services.

While some banks and credit unions have recently dropped their CDs rates, Financial Partners Credit Union (FPCU) has recently raised rates on many of its Certificates, and has maintained the rate on its 60-month Regular Certificate (2.20% APY, $1k min) and 60-month Jumbo Certificate (2.35% APY, $100k min) for more than a year.

Both the 60-month Regular and Jumbos CDs are available as IRAs...

Continue Reading
Financial Partners CU (CA) Has 15-Month Celebration CD
Availability: Residents of Orange County, California; residents of most cities in Los Angeles County; and San Diego County residents who are employed in healthcare or active or retired members of Uniformed Services.

The Credit Union National Association (CUNA) has presented Financial Partners Credit Union (FPCU) with the 2015 CUNA Member Benefit Top Performance Award, and FPCU is marking the occasion by offering a 15-month Celebration Certificate (1.50% APY).

The 15-month Celebration Certificate is available now through September 30, 2015. The minimum opening deposit is $10K of new money and there...

Continue Reading
Financial Partners CU (CA) Offers Competitive Rate 5-Year CDs

Availability:

Residents of Orange County, California, and most cities in Los Angeles County

Yesterday, Financial Partners Credit Union (CA) raised the rates on its 5-year Jumbo CD (2.35% APY) and 5-year CD (2.20% APY). The 5-year Jumbo CD requires a minimum opening deposit of $100K, while the 5-year CD only requires $1K to open; both CDs have no balance cap. Both 5-year CDs are also available as IRAs (Traditional and Roth) at the same APY, with the same funding requirements.

Update 2/5/2015: A DA reader who opened a CD...

Continue Reading

More Past Offers



The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.