Now through October 23, First Community Credit Union (First Community CU) is offering a special rate on its 24-month CD (2.00% APY). The minimum deposit is $500, with no stated balance cap.
|2.00%||$500||-||First Community Credit Union||24 Month CD Special (In Branch Only)|
|2.00%||$500||-||First Community Credit Union||24 Month IRA Special (In Branch Only) (Traditional, Roth, CESA)|
The 24-month CD is also available as an IRA (Traditional, Roth, CESA), earning the same APY with the same funding requirements.
This is the fourth time in about two years that First Community has had a competitive rate on its 24-month CD. Two of the previous offerings were in conjunction with new branch openings, but this time there doesn’t seem to be any specific occasion associated with the limited-time special rate. While there is no stated balance cap on this offering, there were balance caps of $10k in 2016 and $50k in 2015. The 24-month CD is currently listed on First Community’s rate page as a "regular" CD with no restrictions, other than the interest is compounded and credited on an annual basis.
As stated on the Rates and Service Charges page, the Early Withdrawal Penalty reads as follows:
For accounts of greater than one year but less than 36 months,
the penalty is equal to 180 days’ dividends on the amount withdrawn.
Headquartered in Chesterfield, Missouri, First Community Credit Union's field of membership (FOM) is residency based, with individuals who live or work in the Missouri counties of Franklin, Jefferson, St. Charles, St. Louis and Warren, and the southwest Illinois counties of Madison, Monroe, and St. Clair, eligible for membership.
Individuals who live or work in the City of St. Louis are also eligible. While the City of St. Louis borders on St. Louis County, it is an independent City and not part of the County. Completed details can be found on First Community CU’s About Us page.
Joining First Community CU can be done online or at any of 27 Missouri branches located in Arnold (2), Bridgeton, Chesterfield, Creve Coeur, Des Peres, Ellisville, Eureka, Fenton, Festus, Florissant, High Ridge, Lake Saint Louis, Manchester, Maplewood, O’Fallon (2), Richmond Heights, St. Charles (2), St. Louis (3), St. Peters, Warrenton, Washington, and Wentzville. First Community also has five Illinois branches, which are located in Belleville, Collinsville, Fairview Heights, Glen Carbon, and Granite City.
Opening the special rate 24-month CD must be done in-branch, at any of the above mentioned locations.
Credit Union Overview
First Community Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 5.27% (excellent), based on June 30, 2017 data. In the past year, First Community CU increased its total non-brokered deposits by $102.11 million, an excellent annual growth rate of 5.29%. Please refer to our financial overview of First Community Credit Union (NCUA Certificate # 67619) for more details.
Founded in 1934, First Community Credit Union is the largest credit union in Missouri, with more than 283,800 members and assets in excess of $2.3 billion. A committed member of its community, First Community CU actively supports more than 25 non-profit organizations, including Habitat for Humanity, Make A Wish Foundation, and the Alzheimer’s Association.
How the CD Compares
When compared to the 307 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, First Community Credit Union’s 24-month CD APY currently ranks third.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|2.22% APY||24-Month Promo Share Certificate||GTE Financial|
|2.02% APY||25-Month CD||USALLIANCE Financial|
|2.00% APY||24-Month CD||First Community Credit Union|
The above rates are accurate as of 10/17/2017.