Nationally Available 14-Month CD Special At Financial Resources FCU


Deal Summary: 14-month CD Special, 1.01% base APY, Relation Premium APY up to 1.31%, $500 minimum deposit

Availability: Easy membership requirement

New Jersey-based Financial Resources Federal Credit Union (FRFCU) is currently offering a 14-month CD Special, which has a base APY of 1.01%. A Relation Premium APY* of up to 1.31% is possible and is explained below. The minimum opening deposit is $500, with no stated balance cap.

The 14-month CD Special has been part of FRFCU’s product line for about three years. With an initial APY of 1.11% APY, this CD Special has experienced three rate increases (to a high of 2.53% APY), followed by four rate decreases in the past year to arrive at the current 1.01% APY.

The 14-month CD Special is also available as an IRA CD Special (Traditional, Roth, CESA), earning the same APYs with the same deposit requirements.

*Relationship Premium Rates for Certificates and IRAs include a rate premium based on your account services with the credit union. Rates indicated include premiums of

0.10% for an active checking account (active checking account requires either 1- existing checking acct with minimum monthly Direct Deposit of $500.00, or 2- FRFCU debit card with minimum 5 transactions in previous month, or 3- Active Bill Pay Account);

0.10% for an existing consumer loan (excludes Credit Builder and Personal Lines of Credit);

0.10% for a FRFCU Mortgage or Investment Account.

Hero Accounts (Active Duty Military and Veterans of the US Armed Forces) and Champion Accounts (Teachers, Police, Fire, EMS and Healthcare Workers) holders receive an additional 0.10% towards Relationship Premium Rates.

Early Withdrawal Penalty

According to CSR, the Early Withdrawal Penalty for CDs with a term of 13 or more months is nine months interest on the entire balance. Only early closures are permitted, with no partial withdrawals allowed.

Funding and Maturing Funds Distribution

Funding a CD can be done through a transfer from an existing savings or checking account or by check. CSR stated that the easiest way for new members to fund a CD is to transfer funds into an FRFCU savings or checking account (via ACH), so the funds will be on hand when the CD is actually opened. Maturing funds can be distributed by check to the address on file, or transferred into an FRFCU savings or checking account.

Unlimited beneficiaries can be named (equal shares), with Social Security numbers required for all named beneficiaries.


Headquartered in Bridgewater, New Jersey, Financial Resources Federal Credit Union’s field of membership (FOM) provides a way for all U.S. citizens and resident aliens (with a valid Social Security number) to join through membership in the American Consumer Council (ACC).

As stated on FRFCU’s “Join Us” page,

There is no fee for ACC membership when I join Financial Resources Federal Credit Union.

Individuals who live, work, worship, or attend school in the Greater New Brunswick Area (NJ) or Flemington Borough (Hunterdon County, NJ) are also eligible to join.

Employees/members of nearly 800 participating companies/associations qualify for membership. (A complete list is on the first page of the online application.)

Family members of a current FRFCU member are welcome to apply. In this instance, “family members” is generously defined as parent, sibling, spouse, child, in-laws, niece, nephew, grandparent, grandchild, aunt, uncle, stepchild, stepparent, and first cousin.

Joining FRFCU be done online, or at the six New Jersey branches opened to the public, which are located in Bridgewater, Flemington, Green Brook, Hillsborough, and Jersey City.

Lobby By Appointment - Limited Hours (Effective 8/17/2020)

For members that have essential business that cannot be handled through drive-up, ATM, online, mobile or the call center – branch associates will be available to assist at our public access locations by Appointment Only. Please contact the branch you are looking to visit to make an appointment.

There are seven other New Jersey branches located in a variety of large businesses in New Brunswick, Raritan (2), Skillman, Somerset, Somerville, and Titusville that have restricted access. The New York City branch, located in the Financial District in Lower Manhattan, also has restricted access.

While savings and checking accounts can be opened online, CDs must either be opened in-branch or by mail (snail-mail, not e-mail). Existing members can contact FRFCU (800.933.3280) to request the required forms and information be mailed to them. Those joining FRFCU online must first establish their membership, then contact FRFCU to open a CD. You cannot open a CD or join FRFCU over the phone.

Your banking relationship begins with a Membership Savings account, which you can open with as little as $10 to take advantage of exclusive banking benefits and lifelong membership privileges.

FRFCU participates in the Allpoint ATM network, giving members access to 55,000 surcharge-free ATMs coast-to-coast.

Credit Union Overview

Financial Resources Federal Credit Union has an overall health rating of "B+" on, with a Texas Ratio of 10.58% (excellent), based on June 30, 2020 data. In the past year, FRFCU has increased its total non-brokered deposits by $59.1 million, excellent annual growth rate of 15.54% growth rate. Please refer to our financial overview of Financial Resources Federal Credit Union (NCUA Charter # 6665) for more details.

Chartered in 1950, Financial Resources Federal Credit Union was originally known as the Ethicon Employees Federal Credit Union (EEFCU), established by employees of Ethicon Suture Laboratories (part of the Johnson & Johnson Corporation). The first of several major changes occurred in late 1998 when McNeil-Ortho Federal Credit Union merged into EEFCU. Three months later, Raritan Federal Credit Union (the oldest chartered credit union in New Jersey) join EEFCU. The Financial Resources rebrand occurred in May 2000, as the credit union began to expand its FOM. In February 2003, a “Multiple Common Bond Charter” was adopted, allowing FRFCU to include companies and organizations other than Johnson & Johnson companies in the FOM. Just four months later, FRFCU received permission from the NCUA to expand the FOM to include individuals and businesses in the underserved areas of New Brunswick, Highland Park, and portions of Somerset, NJ. Financial Resources Federal Credit Union is currently the third largest credit union in New Jersey, with nearly 23,000 members and assets in excess of $519 million.

How the CD Special Compares

When compared to 221 similar length-of-term CDs tracked by that require a similar minimum deposit and are nationally available, Financial Resources Federal Credit Union’s 14-month CD Special base APY currently ranks second.

The above rates are accurate as of 9/26/2020.

Looking for the best CD rates, either nationwide or state specific? Please refer to our CD Rates Table page.

Related Pages: New York CD rates, Philadelphia CD rates, 1-year CD rates, nationwide deals


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.