Availability:Residents of Allegany and Garrett Counties, MD; Somerset County, PA; Mineral County, WV; and Verizon employees headquartered in Maryland counties of Allegany, Frederick, Garrett, and Washington.
Over the weekend, First Peoples Community Federal Credit Union (First Peoples) introduced a new 15-month CD Special (1.15% APY) and 15-month Relationship CD Special (1.30% APY) to its product line. The minimum opening deposit for either CD is $500, with no maximum balance cap.
The Relationship CD requires that your tax refund be deposited in a First Peoples’ account to qualify for the 1.30% APY.
According to CSR, the Early Withdrawal Penalty "can be up to 180 days," with the final determination made on a case-by-case basis.
|2.00*%||-||$25k||First Peoples Community Federal Credit Union||eFirst Checking|
|1.50%||$500||-||First Peoples Community Federal Credit Union||15 Month CD Special|
First Peoples also offers eFirst Checking, a reward checking account that pays 2.00% APY on qualifying balances up to $25K; balances over $25K pay 0.10% APY. The following requirements must be met to qualify for the 2.00% APY:
- One Direct Deposit per calendar month
- Sign-up for and receive e-Statements
- Use First Peoples Electronic Bill Pay at least once per calendar month
- Make at least ten First Peoples VISA Check Card purchases (using your signature) per calendar month
There is a $5 monthly service fee if the above requirements are not met, but First Peoples eChecking is fee free for the first 45 days (from enrollment date), regardless of requirement status.
Membership in First Peoples Community Federal Credit Union is residency based, with individuals who live or work in Allegany and Garrett Counties, Maryland; Somerset County, Pennsylvania; or Mineral County, West Virginia eligible to join. Verizon employees headquartered in the Maryland counties of Allegany, Frederick, Garrett, and Washington are also eligible for membership.
Joining First Peoples and/or opening a CD requires an in-person visit to any of ten Maryland branches located in Accident, Cresaptown (2), Cumberland (3), Frostburg, Grantsville, LaVale and Lonaconing; two Pennsylvania branches in Meyersdale and Somerset; or two West Virginia branches in Keyser and Ridgeley.
Credit Union Overview
First Peoples Community Federal Credit Union has an overall health grade of "B" at DepositAccounts.com, with a Texas ratio of 15.59% (above average) based on September 30, 2014 data. First Peoples has an excellent capitalization level of 13.11%, a result of holding assets of $322.49 Million, with $43.6 Million in equity. Please refer to our financial overview of First Peoples Community Federal Credit Union for more details.
Originally known as the Amcelle Employees Federal Credit Union, First Peoples Community Federal Credit Union (NCUA Charter # 13345) was organized in 1960 to serve the employees of the Amcelle Plant in Cumberland, Maryland. (The Amcelle Plant was part of the Celanese Corporation of America.) Through a series of NCUA approved charter amendments, First Peoples expanded their field of membership (FOM) to include residents of Allegany County, MD (1975), Mineral County, WV (1983), Garrett County, MD (1998), and Somerset County, PA (2001). These charter amendments resulted in a unique credit union offering membership to residents of multiple states, with current membership of over 29,200 individuals.
How the CD Compares
Given the unique FOM (three different states), an "apples to apples" comparison is a bit difficult. Therefore, when compared to other similar length of term CDs tracked by DepositAccounts.com, that require a similar minimum deposit and available to Maryland residents (the majority of the membership), First Peoples Community Federal Credit Union's 15-month CD is clearly competitive.
The above rates are accurate as of 1/20/2015.
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.