Fort Bragg Federal Credit Union has some very competitive 3-year CD and IRA CD rates: 2.48% APY for a $25K minimum and 2.37% APY for a $1K minimum. These rates are listed in the credit union's rates page as of 10/15/2010.
With a $5K minimum, you can add a step-up feature to these CDs which gives you the option to increase the rate to the current rate during the term. This can be handy if interest rates start to rise. According to the credit union's term share certificates page this step-up feature will only be available for a limited time.
Another nice feature of these CDs is a mild early withdrawal penalty. According to the fee schedule page, it's only 3 months loss of dividends (interest).
The credit union appears to have made it easier to join. In their Who's Eligible page, it states:
NEW! Our membership criteria has expanded allowing more people to join Fort Bragg Federal Credit Union! (some restrictions apply) Contact the Credit Union to see how you are eligible to join!
In addition to active and retired military, members of the Braxton Bragg Chapter of AUSA are eligible to join. When I reviewed this credit union last year, the website stated you must live locally within Cumberland County and adjacent counties. I don't see that restriction now. I sent an email asking about this, but I haven't received a reply. One reader commented about how he joined:
I joined AUSA -the Braxton Bragg Chapter as a civilian a year ago when I opened our account. As with most memberships that qualify you to become a credit union member, only a one year membership is required. As you know, once you are a member of a credit union, no continuing membership is required. The higher CD rate easily pays for the membership (I probably paid $33 as a civilian), and is even more worthwhile for a multi-year CD. Ft. Bragg FCU has consistently had superior rates, and the service has been professional.
If you have joined this credit union, please leave a comment about how you qualified.
Branches are located in Fort Bragg and in Fayetteville, North Carolina.
The credit union's overall health score is 4 out of 5 at DepositAccounts.com with a Texas Ratio of 5.48% (excellent) based on June 2010 data. Please refer to our financial overview of Fort Bragg Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 13690).
Thanks to the reader who commented on this credit union and CD rates.
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