floridacentral Credit Union (floridacentral) is currently offering a 15-month Promotion CD with tiered APYs: 3.56% APY ($25,000 minimum deposit) and 4.07% APY ($50,000.01 minimum deposit). These rates are so high that I called floridacentral to confirm, and I’m happy to report these promotional rates are valid.
|4.07%||$50k||-||floridacentral Credit Union||15 Month Promotion CD - $50K deposit (New Money)|
|3.56%||$25k||-||floridacentral Credit Union||15 Month Promotion CD - $25K deposit (New Money)|
New money is required to open a 15-month Promotion CD.
The Promotion CD is also available as an IRA (Traditional), earning the same tiered APYs with the same funding requirements.
According to CSR, the Early Withdrawal Penalty is 180 days of interest on the amount being withdrawn.
Headquartered in Tampa, floridacentral Credit Union’s field of membership (FOM) is primarily residency-based, with individuals who live, work, or worship in the Florida counties or Charlotte, DeSoto, Hillsborough, Lake, Manatee, Orange, Pasco, Pinellas, Polk, or Sarasota eligible to join.
According to floridacentral’s website, “Membership is open to the employees of the many businesses we serve.” Unfortunately, there is no list of the SEGs on the website. CSR stated there are more than 1,000 SEGs and suggested contacting the HR department of your company to see if they participate.
Residents of Florida who have an immediate family member who is a current floridacentral member are also welcome to apply.
Joining floridacentral Credit Union can be done online, or at any of the twelve Florida branches located in Bradenton, Brandon, Clearwater, Lakeland, Port Charlotte, St. Petersburg, Sarasota, Seminole, Tampa (3), and Trinity.
While you can open a checking account or apply for a loan online, opening a Promotion CD must be done in-branch.
Credit Union Overview
floridacentral Credit Union, has an overall health grade of "B" at DepositAccounts.com, with a Texas Ratio of 4.34% (excellent) based on June 30, 2018 data. In the past year, the Credit Union has increased its total non-brokered deposits by $8.18 million, an above average annual growth rate of 1.96%. Please refer to our financial overview of floridacentral Credit Union (NCUA Charter # 67668) for more details.
The original Tampa Central Credit Union was established in 1958, serving as the credit union for other credit unions. At the time, federal regulations prohibited board members and employees from belonging to the credit union they served. The name was changed to Florida Central Credit Union following the repeal of the regulation and an expansion of the FOM that included SEGs. By the mid-1990s, the Credit Union had adopted a community charter, adding Hillsborough and other central Florida counties in the FOM. The “floridacentral” rebrand occurred in 2006, as the Credit Union “revamped its look.” floridacentral Credit Union is currently the 34th largest credit union in Florida, with more than 54,200 members and assets in excess of $467 million.
How the Promotion CD Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, floridacentral Credit Union’s 15-month Promotion CD APYs currently and clearly rank first.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|4.07% APY||15-Month CD ($50k min)||floridacentral Credit Union|
|3.56% APY||15-Month CD ($25k min)||floridacentral Credit Union|
|3.25% APY||15-Months Share Certificate Special ($5k min)||NASA Federal Credit Union|
|3.16% APY||16/16/16 Share Certificate Special ($1.6k min)||AgFed Credit Union|
The above rates are accurate as of 9/21/2018.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.