First Service Credit Union (First Service) has raised the rates on its 48-month Certificate, which now earns 3.15% ($1k+) or 3.25% APY ($50k+). In the past five months, 130 bps have been added to the 48-month Certificate in three rate increases.
The 48-month Certificate is also available as an IRA (Traditional, Roth, and CESA), earning the higher APY tier with only a $1k minimum deposit.
As stated in First Service’s Rates and Fees schedule, the Early Withdrawal Penalty reads as follows:
The amount of the penalty is half of the interest that would be earned
on the account from the date of withdrawal through the maturity date.
Headquartered in Houston, First Service Credit Union’s field of membership (FOM) is primarily residency based, with individuals who live, work, worship, or attend school in the Texas counties of Fort Bend, Harris, or Waller eligible to join.
Employees of several SEGs, including KBR, Halliburton, CenterPoint, and Baker Hughes, also qualify for membership.
Credit Union Overview
First Service Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 5.25% (excellent), based on March 31, 2018 data. In the past year, First Service has increased its total non-brokered deposits by $18.91 million, an excellent annual growth rate of 3.25%. Please refer to our financial overview of First Service Credit Union (NCUA Charter # 68605) for more details.
Today’s First Service Credit Union can trace its roots to the Brownbuilder Federal Credit Union, which opened its doors in 1978 as a credit union for Brown & Root employees. Brownbuilder FCU became Right Choice Credit Union in 2005 - a name that better reflected a new charter and strategic direction. In 2010, Right Choice CU merged with the original First Service Credit Union, assuming its field of membership, all assets, and its name. First Service currently has over 58,600 members and assets in excess of $697 million.
How the Certificate Compares
When compared to the 255 similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, First Service Credit Union's 48-month Certificate APY currently ranks second, regardless of minimum deposit.
The above rates are accurate as of 8/2/2018.
To search for the best CD rates, both nationwide and state-specific, please refer to our CD Rates Table page.