FORUM Credit Union's 18-Month CD Earns 3.00% APY

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Deal Summary: 18-month CD, 3.00% APY, $500 minimum deposit

Availability: Residents of most of Indiana

FORUM Credit Union (FORUM) has been offering 3.00% APY on its 18-month CD for a couple of months, but in light of falling rates, the 3.00% APY has become competitive. (Two months ago, the rates for Noteworthy Local Deals, 18-month CDs in the bi-weekly CD Rates Summary ranged from 3.25% APY to 2.85% APY, with FORUM’s 18-month CD right in the middle.) The minimum opening deposit is $500, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.85%$500-FORUM Credit Union18 Month CD
2.85%$500-FORUM Credit Union18 Month IRA (Traditional, Roth, CESA)
Rates as of July 21, 2019.

The 18-month CD is also available as an IRA (Traditional, Roth, or CESA), earning the same APY with the same funding requirements.

As stated on FORUM’s Truth In Savings page, the Early Withdrawal Penalty reads as follows:

Terms longer than 12 months - all accrued dividends up to
180 days' dividends but not less than seven (7) days' dividends.

Availability

Headquartered in Fishers, Indiana, FORUM doesn’t share much information about its field of membership (FOM) on its website, but the online membership application does detail who is eligible to join.

Employees of more than 3,000 Select Employee Groups qualify for membership.

Residents of 88 of Indiana’s 92 counties and portions of the remaining four counties (Allen, Lake, Marion, and St. Joseph) are eligible to join. NOTE: it’s been almost four years since I last wrote about FORUM and during that time, the FOM has expanded from eight Central Indiana counties to more than 97% of the entire state.

Relatives (spouse, sibling child, grandparent, grandchild, aunt, uncle, niece, nephew, including step-parent, step-child, and step-sibling) of current FORUM members are welcome to apply.

Joining FORUM can be done online, or at any of 13 Indiana branches located in Avon, Carmel, Fishers (2), Greenwood, Indianapolis (7) and Noblesville.

Once the membership application has been approved, opening a CD can be done over the phone (800.382.5414), in-branch, via Live Chat, or through a Secure Email.

A minimum $5 deposit is required to open a Share Savings account and establishes FORUM membership, but a minimum $100 balance is required to earn dividends. As stated in the Consumer Fee Schedule, there are two potential fees associated with the Share Savings account.

Inactive Savings Account – No activity for 36 months and account balance less than $200.00, $10.00/Month

Early Account Closure – If account closed within six months $50.00, One-time fee

FORUM is a participating member of the CO-OP Shared Branch network.

Can't make it to a branch? Members have access to 5,000 shared branch
locations and more than 4,800 surcharge free Alliance One ATMs nationwide.

Credit Union Overview

FORUM Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.57% (excellent) based on December 31, 2018 data. In the past year, FORUM has increased its total non-brokered deposits by $58.08 million, an excellent annual growth rate of 6.18%. Please refer to our financial overview of FORUM Credit Union (NCUA Charter # 68248) for more details.

FORUM Credit Union was formed in 1941 by the employees of Indiana Bell Telephone Company. Like so many other credit unions founded for the benefit of Bell Telephone employees, FORUM’s scope and membership eligibility changed following the breakup of AT&T. FORUM Credit Union is currently the sixth largest credit union in Indiana, with nearly 153,000 members and assets in excess of $1.4 billion.

How the CD Compares

When compared to 233 similar length-of-term CDs tracked by DepositAccounts.com that require a minimum deposit of $10k or less and are available within the FOM, FORUM Credit Union's 18-month CD APY currently ranks second.

The above rates are accurate as of 5/17/2019.

To search for the best CD rates, either nationwide or state-specific, please refer to our CD Rates Table page.

Related Pages: Indianapolis CD rates, 1-year CD rates

Comments
FORUM Credit Union (IN) Adds New 23-month CD

Availability:

Residents of Marion County, Indiana (Indianapolis) and surrounding counties.

In early July, FORUM Credit Union (FORUM) added a new 23-month CD (1.75% APY). The minimum opening deposit is $500, with no maximum balance cap.

The 23-month CD is also available as an IRA (Traditional, Roth and CESA) at the same APY, with the same funding requirements.

As stated on FORUM’s Truth In Savings page, the Early Withdrawal Penalty reads as follows:

Terms longer than 12 months - all accrued dividends up to 180 days' dividends but not less than seven...
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FORUM Credit Union (IN) Adds New, Top Rate 25-month CD

Availability:

Residents of Marion County, Indiana (Indianapolis) and surrounding counties.

Earlier this week, FORUM Credit Union (FORUM) added a new 25-month CD (2.00% APY) to its offerings. The minimum opening deposit is $500, with no maximum balance cap. The 25-month CD is also available as an IRA (Traditional, Roth and CESA), at the same APY, with the same funding requirements.

As stated on FORUM’s Truth In Savings page, the Early Withdrawal Penalty reads as follows:

Thanks to DA member, PearlBrown, for alerting us to this gem!

Availability

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3.75% Reward Checking Account at FORUM Credit Union in Indiana
Update 6/07/09: The top rate has fallen to 3.75% APY.

FORUM Credit Union is offering a reward checking account called Interest Rewards Checking that pays 3.75% APY on balances up to $25,000 if the following monthly requirements are met:
  • 10 signature based debit card purchases
  • one direct deposit of at least $50
  • receive e-statements
Additional features of the account regardless of the monthly requirements include:
  • No monthly fee
  • No minimum balance requirement
  • Free Bill Pay
  • 8 free non-FORUM ATM transactions per month
  • Interest is only paid up to $25,000
Membership is open to residents of several Indiana counties (including most of...



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5.50% 17-Month / 5.50% 21-Month CD at an Indiana CU (Forum)
Forum Credit Union is offering a 5.50% APY certificate special with terms from 17 to 21 months. The minimum deposit is $500, and it's available as a regular or an IRA certificate. There's also a 5.30% APY CD special available for 7, 8 or 9 month terms. See their rate table for more details.

Membership is open to residents of several Indiana counties (including most of the Indianapolis metro area). You can also qualify based on select employer groups and family. I wasn't able to find their membership page, but I...

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5.50% 13-Month / 5.60% 23-Month CD at an Indiana CU
The Forum Credit Union is offering a 5.50% APY 13-month and a 5.60% APY 23-month share certificate. These are also available as an IRA certificate.

The credit union's field of membership includes residents of Indianapolis and surrounding counties. Membership application can be done online. They do pull a credit report and a Chex system record during application.

The credit union has 11 branches in the Indiana cities of Avon, Carmel, Fishers, Noblesville and Indianapolis.

The credit union is NCUA insured with $979 million in assets and 92,000 members.





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