First Community Credit Union Adds Competitive 29-Month CD


Deal Summary: – 29-month Share Certificate Special, 4.00% APY ($50k min) or 3.75% APY ($1k min), new money required.

Availability: 11 Wisconsin and 7 Illinois counties; possible easy membership requirement

While the 4% APY is not quite wow-worthy, what is note-worthy is that Wisconsin-based First Community Credit Union (FirstCCU) has a new easy membership requirement (EMR). The 29-month Share Certificate Special offers two APYs: 4.00% ($50k minimum) and 3.75% ($1k minimum). This limited-time offer requires new money, which is defined simply as funds not currently on deposit at FirstCCU.

The 29-month Share Certificate Special is also available as an IRA Share Certificate Special (Traditional and Roth), earning the same APYs with the same deposit requirements.

Funding and Other Particulars

  • Early Withdrawal Penalty – 365 days on the amount withdrawn, with partial withdrawals allowed as long as the $50k minimum balance is maintained.
  • Funding – Funds must be on deposit at FirstCCU before opening a Share Certificate Special. Deposits can be made by ACH, wire transfer ($15 fee), or check.
  • Maturing Funds – distributed by check to address on file or through internal transfer to a FirstCCU checking or savings account.
  • Dividends – compounded and credited monthly and can be withdrawn or transferred to a FirstCCU checking or savings account.
  • Grace Period – ten days before automatic renewal as a regular 24-month Share Certificate.
  • Beneficiaries – unlimited, equal shares, Social Security number not required but appreciated.
  • Credit Check – Soft pull.


Headquartered in Beloit, Wisconsin, First Community Credit Union’s field of membership (FOM) has been primarily residency-based for nearly 30 years. FirstCCU recently added an “Easy Membership Requirement,” making any U.S. citizen/resident alien with a valid Social Security number eligible for membership.

Easy Membership Requirement: As stated on the online application (and confirmed by CSR), anyone who makes a $5 donation to the Boys & Girls Club of Beloit qualifies for First Community membership, regardless of residency status.

Note of Caution: this EMR option has been in place for less than a year and, as of today, there are no reviews of FirstCCU. Based on past (and recent) history with other small credit unions, new EMR options often have issues for new members. If you try to join and open this Share Certificate Special, please share your experiences in the comments.

Residency: Individuals who live, work, or attend school in the following counties also qualify for membership.

    Wisconsin counties – Dane, Grant, Green, Iowa, Jefferson, Kenosha, Lafayette, Racine, Rock, Walworth, or Waukesha.

    Illinois counties – Boone, Carroll, Jo Daviess, McHenry, Ogle, Stephenson or Winnebago.

Relationship: Immediate family members (spouse, parent/step, sibling, child/step, grandparent, or grandchild) of current First Community members are welcome to apply.

Joining FirstCCU and/or opening a Share Certificate Special can be done online or at any of three Wisconsin branches located in Beloit, Janesville, and Monroe. There are also two Illinois branches, which are located in Rockford and Roscoe.

A minimum $5 deposit in a Primary Share Account establishes a First Community membership.

FirstCCU no longer participates in the CO-OP Shared Branch network or the CO-OP ATM network.

Credit Union Overview

First Community Credit Union has an overall health grade of "A+" at, with a Texas Ratio of 1.37% (excellent) based on June 30, 2022 data. In the past year, FirstCCU has increased its total non-brokered deposits by $16.15 million, an excellent annual growth rate of 12.6%. Please refer to our financial overview of First Community Credit Union (NCUA Charter # 67214) for more details.

Twenty employees of Beloit’s Fairbanks-Morse Corporation each deposited $5 in 1933 to start a credit union – the Fairbanks Morse Employees Credit Union. The original FOM was in effect for about 60 years before a community charter was granted, prompting the First Community rebrand. Starting in the early 2000s, the FOM began a multi-year expansion, which was significantly helped by mergers with Beloit College Credit Union, Janesville Municipal Employees Credit Union, and Rock County Employees Credit Union. First Community Credit Union is currently the 32nd largest credit union headquartered in Wisconsin, with more than 26,000 members and assets in excess of $240 million.

The Fairbanks-Morse Corporation rebranded as Fairbanks Morse Defense in 2021 “to demonstrate the focus with the US armed forces and new opportunities they can provide.” According to an August 2022 Beloit Daily News article,

Fairbanks Morse Defense is celebrating 150 years of working with the U.S. Navy and Coast Guard, as well as the Beloit community this month.

In the last few months, FMD celebrated the christening of the USS Beloit. The USS Beloit, (LCS 29) is a Freedom-class littoral combat ship. FMD built the engine for this ship that was named after the community that the company has called home for a century and a half.

In the last two years, the company acquired nine companies that offer a variety of services and work on different aspects of a ship. This journey began in 2020, during the pandemic, shortly after the company became private.

How the 29-Month Share Certificate Special Compares

When compared to similar length-of-term CDs tracked by that are available nationally and have minimum deposit requirements of $50k or less, two banks and two credit unions have higher rates than currently offered on the First Community Credit Union 29-Month Share Certificate Special. The following table compares the 29-Month Share Certificate 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 10/27/2022.

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

Related Pages: Rockford CD rates, Madison CD rates, 5-year CD rates, IRA 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.