First United Credit Union (MI) Has Two Market-Leading CD Specials

POSTED ON BY

Deal Summary: Certificate Specials – 18-month up to 1.30% APY and 24-month up to 1.50% APY.

Availability: Easy membership requirement in Michigan.

For a limited time, First United Credit Union (First United) is offering two Certificate Specials with a 0.25% bonus rate for a checking relationship. The base APY for the 18-month Certificate Special is 1.05%, with the 24-month Certificate Special having a 1.25% base APY. The minimum opening deposit is $500, with a maximum deposit of $250k.

A note concerning the “limited time” description: the 18-month and 24-month Certificate Specials have been offered since the beginning of March 2021. CSR did not have any information as to when these Specials might expire.

As stated on the Certificates of Deposit page,

To receive the .25% bonus rate, the member must have an active Checking Account which includes a minimum of $250 ACH Direct Deposit monthly, an active Debit Card, and Online Banking with eStatements/eNotices.

All the requirements must be met during the entire term of the Certificate Specials to receive the 0.25% bonus rate. If these requirements sound a little familiar, it’s because they are some of the monthly qualifying requirements for First United’s Rewards Checking account, which I wrote about last week.

As stated in the Important Disclosure brochure, the Early Withdrawal Penalty reads as follows:

For all certificate accounts, the amount of early withdrawal
penalty is 180 days dividends earned for terms over 12 months.

Availability

Headquartered in Grandville, Michigan, First United Credit Union’s field of membership (FOM) is community based, with individuals who live, work, worship, or attend school anywhere in the state of Michigan eligible to join.

Joining First United can be done online, or in person at the sole Michigan branch located in Grandville, a southwest suburb of Grand Rapids.

A share savings account is the first account you’ll open to be part of the First United family. The only requirement is maintaining a $5 deposit. This enables you to take part in our full line of financial services.

Opening a CD Special can be done at the Grandville branch or by phone. According to CSR, after a new membership application has been approved, a CD can be opened over the phone. Funding a CD can done by ACH, wire transfer, check, or internal transfer, with maturing funds distributed through the same four methods.

First United is a member of the CO-OP ATM network and the Xtend Shared Branch network.

Xtend Shared Branches offer you the convenience of a
network with hundreds of locations throughout Michigan.

Credit Union Overview

First United Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 1.57% (excellent) based on March 31, 2021 data. In the past year, First United has increased its total non-brokered deposits by $5.51 million, an excellent annual growth rate of 15.64%. Please refer to our financial overview of First United Credit Union (NCUA Charter # 68640) for more details.

Established in 1937, First United Credit Union’s original FOM included the employees of the Leonard Refrigerator Plant exclusively. (While not a well-known name today, the Leonard Refrigerator Plant had a payroll of $4 million and more than 2,800 employees in 1937.) Following the acquisition of the Leonard plant by the Kelvinator Company, the credit union became known as the Kelvinator Employees Credit Union.

About eight years ago, the First United rebrand occurred, following a change to a state charter and an FOM expansion from one Michigan county to 23 Michigan counties. While the 2013 FOM expansion was substantial, First United began offering membership in all 83 Michigan counties two years ago.

How the Certificate Specials Compare

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available to all residents of Michigan, First United Credit Union’s 18-Month Certificate Special APYs currently rank first and second.

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available to all residents of Michigan, First United Credit Union’s 24-Month Certificate Special APYs currently rank first and second.

The above information and rates are accurate as of 8/4/2021.

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

Related Pages: Grand Rapids CD rates, 1-year CD rates, 5-year CD rates

Comments
First United Credit Union (MI) Offers High Yield Rewards Checking
Deal Summary: Rewards Checking, 4.00% APY on qualifying balances up to $10k.

Availability: Easy membership requirement in Michigan.

Four years ago, there were five checking accounts in the First United Credit Union (First United) product line, but only one personal checking account is currently being offered. The aptly-named Rewards Checking account is a rewards checking account (RCA) that earns 4.00% APY on qualifying balances up to $10k. Qualifying balances above $10k and non-qualifying balances do not earn any interest. The $10k balance cap may not...

Continue Reading
First United Credit Union 18-month CD Special Earns Up To 2.60% APY
Deal Summary: 18-month CD Special, 2.50% base APY, additional 10 bps for checking relationship, possible 2.60% APY.

Availability: All Michigan residents.

For a limited time, First United Credit Union (First United) has an 18-month CD Special, which can earn up to 2.60% APY. The minimum opening deposit is $500, with a maximum investment of $250k.

The base APY for the CD Special is 2.50% APY, with an extra 10 bps added with a checking relationship, but the checking account,

While First United has five different checking...

Continue Reading
First United Credit Union 24-Month CD Special Earns Up to 3.00% APY
Deal Summary: 24-month CD Special, 2.65% base APY, limited-time 25 bonus bps, additional 10 bps for checking relationship, possible 3.00% APY.

Availability: Newly expanded field of membership includes all Michigan residents.

For a limited time, First United Credit Union (First United) is offering a 24-month CD Special, which can earn up to 3.00% APY. The 24-month CD Special can be opened with a $500 minimum deposit and is “insured up of $250,000.”

The base APY for the CD Special is 2.65% APY and an additional 25...

Continue Reading
First United CU (MI) Adds "Sky's The Limit" CD Specials

Deal Summary:

18-month CD Special, 1.80% APY, checking relationship, $500 minimum

18-month CD Special, 1.70% APY, no checking relationship, $500 minimum

24-month CD Special, 2.40% APY, checking relationship, $500 minimum

24-month CD Special, 2.30% APY, no checking relationship, $500 minimum

Availability: Residents of 23 West Michigan counties.

For a limited time, First United Credit Union (First United) is offering two Sky’s The Limit CD Specials (18-month and 24-month), each with two rate tiers. The minimum deposit is $500, with a “maximum investment of $250,000.”

Continue Reading


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.