Hot Deal At Firelands Fed Credit Union: 9-Month CD, 3.00% APY

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Deal Summary: 9-month Promotional Certificate, 3.00% APY, new money, $5k min/$250k max deposit.

Availability: Residents of Huron and Crawford Counties, Ohio, and of portions of Erie, Sandusky, and Seneca Counties, Ohio.

Hot deal alert: Firelands Federal Credit Union (Firelands FCU) is currently offering a 9-month Certificate Promotional Rate earning 3.00% APY. The minimum opening deposit is $5k of new money, which is defined as funds “not on deposit at Firelands FCU for the past 90 days.” There is also a $250k maximum balance to earn the stated APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.00%$5k$250kFirelands Federal Credit Union9 Month Share Certificate Special (New Money Only)
Rates as of July 16, 2018.

For the past five years, the 9-month Certificate had a lackluster 1.25% APY. By adding 175 bps, the promotional rate for the 9-month Promotional Certificate now equals that of Firelands FCU’s 60-month Promotional Certificate.

As stated on the Disclosure Z for Promotional 9-month Certificates, the Early Withdrawal Penalty reads as follows:

For Certificates with terms 12 months or less, 60 days loss of dividends.

The Disclosure also states,

Certificate is non-renewable and will transfer to savings account upon maturity.

Availability

Headquartered in Bellevue, Ohio, Firelands Federal Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, worship, or attend school in Huron or Crawford County eligible to join. Residents of the portions of Erie, Sandusky, and Seneca Counties that abut on Huron County also qualify for membership.

Immediate family members (defined as spouse, child, sibling, parent, grandparent, or grandchild, including step-relations and adoptions) of current members are eligible for membership.

Complete details about membership eligibility (including a map of the areas included in the FOM) can be found on Membership page.

Joining Firelands FCU and/or opening a Promotional Certificate must be done in person at any of six Ohio branches located in Bellevue, Bucyrus, Galion, Monroeville, and Norwalk (2). While the Credit Union does offer online banking, it’s limited to account management and bill payment services.

Firelands FCU participates in the Co-Op Shared Branch network, allowing members to use branches (5,000+ locations) of other network credit unions to conduct basic teller transactions.

Credit Union Overview

Firelands Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.08% (excellent) based on March 31, 2018 data. In the past year, Firelands FCU increased its total non-brokered deposits by $16.04 million, an excellent annual growth rate of 6.74%. Please refer to our financial overview of Firelands Federal Credit Union (NCUA Charter # 11674) for more details.

Originally established in 1955 to serve Nickle Plate Railroad employees, membership in Firelands FCU was expanded in 1970 to anyone who lived or worked in the community. Today, the Credit Union has more than 32,000 members and assets in excess of $283 million.

The Firelands area derives its name from Revolutionary War times, when the resale of the land was intended as financial restitution for Connecticut residents whose homes were burnt in 1779 and 1781 by British forces. At that time, this part of north central Ohio was actually at the western end of the Connecticut Western Reserve, a distance of more than 550 miles from Connecticut’s modern-day western border.

How the Promotional Certificate Compares

When compared to 237 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Firelands Federal Credit Union's 9-Month Promotional Certificate APY currently ranks first.

Interest RateCD Length of TermCredit Union/Bank
3.00% APY9-Month Promotional CertificateFirelands Federal Credit Union
2.75% APY9-Month Certificate SpecialAndrews Federal Credit Union
2.20% APY9-Month Share Certificate SpecialService Credit Union

The above rates are accurate as of 7/13/2018.

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

Related Pages: Cleveland CD rates, Columbus CD rates, Toledo CD rates, 1-year CD rates

Comments
deplorable 1
deplorable 1   |     |   Comment #1
Too bad we can't join with ACC membership as this is a outstanding rate on a 9 month CD.
HarvF
HarvF   |     |   Comment #2
Notice most of the high CD and Savings Account rates are offered primarily at financial institutions east of the Mississippi region.
RichReg
RichReg   |     |   Comment #3
This is clearly one of the best short-term rates out there.
No, I'm not a Financial Advisor (or a resident of any of those Ohio counties), but I did stay at a Holiday Inn Express in Sandusky last night.

Does that make me eligible?
RJM
RJM   |     |   Comment #4
It merely says you need to "worship" in one of their counties. If you "worshipped", you qualify. Stop by a branch and open one up. I have a dizziness issue that prevents me from visiting one of their branches so while you are there, ask them if they will make an exception and let me join by mail.

Because there is no need to get the federal government involved in a discrimination against the handicapped complaint.

In the meantime, I am brushing up on my long distance remote telepathic worshipping skills.
alan1
alan1   |     |   Comment #5
Bogus claims of "discrimination against the handicapped" make life more difficult for those people who actually have disabilities and are subjected to unlawful discriminatory treatment.

As to bogus claims of "worship", leaving aside any consideration of ethics and honesty, please note that this blog is followed by employees of some financial institutions. It will not benefit anyone to post comments of such a nature. Posting such comments will not help legitimate applicants; it will not help liars.
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Deal Summary: 36-month Promotional Certificate, 2.06% APY, new money, $500 min/$100k max deposit per member.

Availability: Residents of Huron and Crawford Counties, Ohio, and of portions of Erie, Sandusky, and Seneca Counties, Ohio.

Firelands Federal Credit Union (Firelands FCU) has started the month by adding three Promotional Rate Certificates, but only the 36-month (2.06% APY) is truly competitive. The minimum opening deposit is $500 of new money, which is defined as funds “not on deposit at Firelands FCU for the past 30 days.” There is also a $100k...

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This is the highest APY for the 60-month Share Certificate in more than six years that includes 24 rate changes.

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In today’s interest rate environment, most short- and mid-term CD rates are not much higher than the rates you can get from top internet savings accounts. That’s not the case for the CD specials being offered by Firelands Federal Credit Union. It’s offering two CD specials with very competitive rates. These include a 2.00% APY 18-month CD and a 1.60% APY 1-year CD. There’s also a 9-month CD which has a good rate but not an exceptional rate of 1.00%. New money is required, and these are not available in...

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