First Florida Credit Union Boosts 13-Month CD To 2.89% APY

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Deal Summary: 13-month CD Special, 2.89% APY, $50k minimum deposit

Availability: Residents of 29 Florida counties

First Florida Credit Union (First Florida) is currently offering increased rates on its three CD Specials: 13-month (2.89% APY), 22-month (2.99% APY), and 9-month (2.19% APY). Of the three, the 13-month has the most competitive rate. The 13-month requires a $50k minimum deposit, while the other two CD Specials require a more modest $1k minimum deposit.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.99%$1k-First Florida Credit Union22 Month CD Special
2.89%$50k-First Florida Credit Union13 Month CD Special
2.19%$1k-First Florida Credit Union9 Month CD Special
Rates as of December 18, 2018.

All three are also available as IRAs (Traditional, Roth, CESA), earning the same APYs with the same funding requirements.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.99%$1k-First Florida Credit Union22 Month IRA Special (Traditional, Roth, CESA)
2.89%$50k-First Florida Credit Union13 Month IRA Special (Traditional, Roth, CESA)
2.19%$1k-First Florida Credit Union9 Month IRA Special (Traditional, Roth, CESA)
Rates as of December 18, 2018.

DA has been tracking the 13-month CD Special for about eight years, during which time its APY was mediocre, ranging from a high of 1.24% to a low of 0.49%. This week’s increase of 160 bps more than doubled the APY.

As stated in the Truth-in-Savings disclosure, the Early Withdrawal Penalty reads as follows

If your account has an original maturity of 13–36 months: The penalty we may impose will equal all interest earned since the date of issuance or 180 days interest whichever is less.

Availability

Headquartered in Jacksonville, First Florida Credit Union’s field of membership (FOM) is primarily residency based, with individuals who live or work in any of the following Florida counties eligible to join.

Florida counties – Baker, Bradford, Broward, Clay, Columbia, Duval, Flagler, Franklin, Gadsden, Hillsborough, Jackson, Jefferson, Leon, Liberty, Madison, Miami-Dade, Nassau, Orange, Osceola, Palm Beach, Pasco, Pinellas, Saint Johns, Seminole, Taylor, Union, Volusia, or Wakulla Counties in Florida.

Membership is also open to employees of the State of Florida, CSX Transportation, Florida State University, and other area Select Employer Groups.

Joining First Florida can be done online, or at any of 15 Florida branches located in Doral, Jacksonville (4), Orlando, Pembroke Park, Raiford, and Tallahassee (7).

Opening a CD Special can be done in-branch or by phone, but not online. According to CSR, once your online application is approved, you can open the CD over the phone, provided the funds you will be using to open the CD are already in a First Florida savings or checking account. CSR emphasized that the funds must be in the possession of First Florida to open a CD over the phone.

Credit Union Overview

First Florida Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 1.27% (excellent) based on June 30, 2018 data. In the past year, First Florida has increased its total non-brokered deposits by $21.92 million, an excellent annual growth rate of 3.51%. Please refer to our financial overview of First Florida Credit Union (NCUA Charter # 61170) for more details.

Established in 1950 as the Florida State Welfare Board Employees Credit Union, Florida First Credit Union is currently the 19th largest credit union in Florida, with more than 53,000 members and assets in excess of $894 million. For the first 50 years, the FOM was restricted to a variety of governmental employee groups, and the Credit Union re-branded twice as that base broadened. In 2003, the FOM expanded to include “all who lived or worked within the counties served in major metropolitan areas” across Florida; this expansion resulted in the current First Florida Credit Union brand. Four mergers occurred between 2007 and 2016, helping cement First Florida’s position among the state’s top 20 credit unions.

How the CD Special Compares

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, First Florida Credit Union's 13-month CD Special APY currently shares top billing with MutualOne Bank’s Online 13-month CD, regardless of minimum deposit requirement.

Interest RateCD Length of TermCredit Union/Bank
2.89% APY13-Month CD Special ($50k min)First Florida Credit Union
2.85% APY1-Year CD ($2.5k min)Live Oak Bank
2.81% APY14-Month eCD ($10k min)Virtual Bank

The above rates are accurate as of 11/29/2018.

Looking for the best CD rates, either nationwide or state specific? Please refer to DepositAccounts.com’s CD Rates Table.

Related Pages: Miami CD rates, Tallahassee CD rates, Orlando CD rates, Jacksonville CD rates, 1-year CD rates, 5-year CD rates

Comments
Competitive Long-Term CD Rates at First Florida Credit Union

In this awful interest rate environment, it's hard to find decent CD rates, and that's especially the case for Florida. I found a couple of competitive CD and IRA CD rates at First Florida Credit Union. You can find higher rates at all-access credit unions based in other states, but if you prefer a branch visit, this may be a better option. One good deal at First Florida Credit Union is its 45-month certificate which has a 1.59% APY. Another good one is its 5-year certificate which has a 1.89%...

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2.65% 13-Month CD and Other Competitive CD Rates at First Florida CU - North, Central and South FL
First Florida Credit Union continues to offer competitive rates on its certificate specials. They're down a little from March, but they remain competitive. The current rates include 2.15% APY for 5 months, 2.65% APY for 13 months, 2.80% APY for 22 months and 3.25% APY for 45 months. Minimum deposit is $1,000. These rates are listed at the credit union's rate table as of 4/28/09.

Membership is open to anyone who lives or works in the following Florida counties: Baker, Broward, Clay, Duval, Flagler, Leon, Orange, Hillsborough, Miami-Dade, Nassau, Seminole...

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2.90% 13-Month CD and Other Competitive CD Rates at First Florida Credit Union
First Florida Credit Union is offering four competitive certificate specials: 2.25% APY for 5 months, 2.90% APY for 13 months, 3.00% APY for 22 months and 3.25% APY for 45 months. Minimum deposit is $1,000. These rates are listed at the bottom of the credit union's rate table as of 3/19/09.

Membership is open to anyone who lives or works in the following Florida counties: Baker, Broward, Clay, Duval, Flagler, Leon, Orange, Hillsborough, Miami-Dade, Nassau, Seminole or St. Johns. Please see the credit union's About Us Page for more info.

Branches...



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3.50% 5-Month CD & 3.40% 13-Month CD at First Florida Credit Union
First Florida Credit Union continues to offer several competitive CD specials. The rates have fallen since my early January post, but they remain competitive especially for the shorter terms. These include a 3.50% APY 5-month CD, a 3.40% APY 13-month CD, a 3.30% APY 22-month CD and a 3.50% APY 45-month CD. Minimum deposit is $1,000. These rates are listed in the credit union's rate table as of the morning of 1/29/2009.

The credit union also continues to have a new-member checking bonus in which a new member can receive $25...

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3.75% 5-Month CD & 3.70% 13-Month CD at First Florida Credit Union
First Florida Credit Union is offering three special certificates with competitive rates. These include a 3.75% APY 5-month CD, a 3.70% APY 13-month CD and a 3.50% APY 22-month CD. Minimum deposit is $1,000. These rates are listed in the credit union's rate table as of the morning of 1/05/2009.

The credit union also has a new-member checking bonus in which a new member can receive $25 and a free box of checks for opening a checking account with direct deposit. Checking account must be opened by 3/31/2009. This promotion is...

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