Florida Credit Union (FCU) raised the rate on its 15-month CD Special (2.00% APY) yesterday. The minimum deposit is $5k, with no stated balance cap.
|2.25%||$5k||-||Florida Credit Union||15 Month CD Special|
|2.25%||$5k||-||Florida Credit Union||15 Month IRA Special (Traditional, Roth)|
The 15-month CD Special was added to the product line two months ago, with an initial 1.45% APY. Yesterday’s addition of 55 bps was the first rate change for the 15-month CD Special.
The 15-month CD Special is also available as an IRA (Traditional and Roth), earning the same APY with the same funding requirements.
As stated on FCU’s Truth in Savings disclosure, the Early Withdrawal Penalty for the 15-month CD Special is 270 days interest.
Headquartered in Gainesville, Florida Credit Union field of membership (FOM) is residency based, with individuals who live or work in the following 30 North and Central Florida counties eligible to join:
Alachua, Baker, Bradford, Citrus, Clay, Columbia, Dixie, Duval, Flagler, Gilchrist, Hamilton, Hernando, Jefferson, Lafayette, Lake, Leon, Levy, Madison, Marion, Nassau, Pasco, Polk, Putnam, Seminole, St. Johns, Sumter, Suwanee, Taylor, Union, and Volusia.
The online membership application does not list CDs as an account option. According to CSR, after submitting a membership application, you can then instruct the Credit Union by phone, or online, to open a CD. Funds for the CD must first be available in your FCU savings or checking account.
Credit Union Overview
Florida Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.63% (excellent), based on September 30, 2017 data. In the past year, Florida CU has increased its total non-brokered deposits by $68.63 million, an excellent annual growth rate of 9.92%. Please refer to our financial overview of Florida Credit Union (NCUA Charter # 60497) for more details.
Originally chartered in 1954 as the Alachua County Teachers’ Credit Union, Florida Credit Union was owned and operated by teachers in the Alachua County School System. The Credit Union began adding more school systems and community colleges to its FOM within two years of opening its doors. 63 years later, after two name changes, a charter change, and expansion throughout North and Central Florida, FCU is currently the 17th largest credit union in Florida, with nearly 90,000 members and assets in excess of $968 million.
How the CD Special Compares
When compared to the similar length-of-term CDs (mainly 18-month) tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Florida Credit Union’s 15-month CD Special APY currently ranks ninth, but it has the highest APY for a 15-month CD within the FOM.
The above rates are accurate as of 2/8/2018.
To look for the best CD rates, both nationwide and state specific, please refer to our CD rates page.