Frankenmuth Credit Union (MI) Jumbo CD Rates Soar


UPDATE 7/18/18: VIP Rewards additional 25 bps valid on Jumbo CDs.

Deal Summary: Jumbo CDs – 6-month (2.48%), 9-month (2.63% APY), 12-month (2.73% APY), 18-month (2.94%), 2-year (3.15%), 3-year, (3.30%), and 4-year (3.40%), $100k minimum deposit.

Availability: All Michigan residents.

About a month ago, Frankenmuth Credit Union (FCU) raised the rates on its Jumbo CDs, adding between 21 and 38 bps. FCU started this week with another round of significant rate increases (35-46 bps) on all its Jumbo CDs.

These Jumbo CDs are also available as IRAs (Traditional, Roth, CESA) earning the same APYs and with the same funding requirements.

FCU offers regular CDs ($500 minimum deposit), but the APYs are drastically lower - between 165 and 209 bps - than the Jumbo CD APYs. There are also three Featured CD Specials ($500 minimum deposit) being offered, but their APYs are decidedly not special: 13-month (1.80% APY), 21-month (2.00% APY), and 37-month (2.25% APY).

In response to my June blog post, DA reader, Brad D, stated that FCU offers a VIP Rewards program that can add 25 bps to a CD. I was not able to confirm that the VIP Rewards bonus applies to the Jumbo CDs; according to CSR, the bonus does not apply.

UPDATE 7/18/18: Like Brad D, I spoke with CSR at length this morning and confirmed that FCU members who qualify for either the VIP Rewards Gold or Platinum level “will receive an additional 0.25% CD benefit.”

CSR stated that the Early Withdrawal Penalty for any CD is a substantial "1/2 of the original term’s projected dividends whether earned or not. Balance or principal may be invaded."


Headquartered in Frankenmuth, Michigan, Frankenmuth Credit Union’s field of membership includes “Anyone that lives, works, worships or is educated in the state of Michigan.”

In addition, relatives of a current FCU member also qualify for membership.

Joining FCU and/or opening a Jumbo CD at can be done online or at any of 18 full-service Michigan branches, located in Bay City, Birch Run (2), Caro, Cass City, Elkton, Essexville, Frankenmuth (2), Freeland, Millington, Otisville, Reese, Rockford, Saginaw (2), and Vassar (2).

In addition to the full-service branches, this community-oriented credit union sponsors "Baby" Credit Unions in four local high schools, with services specifically for students and school staff.

Credit Union Overview

Frankenmuth Credit Union has an overall health grade of "B+" at, with a Texas Ratio of 12.46% (above average) based on March 31, 2018 data. In the past year, FCU has increased its total non-brokered deposits by $67 million, an excellent annual growth rate of 16.45%. Please refer to our financial overview of Frankenmuth Credit Union (NCUA Charter # 61755) for more details.

Frankenmuth Credit Union was founded in 1964 by employees of Carling Brewery, with only the brewers and millers of Carling Brewery, Zeilinger Beverage, Geyer's Brewery, and Star of the West Milling, eligible for membership.

It wasn't uncommon in those early days when someone wanted a loan, if the credit union didn't have enough in savings, for staff from the credit union to walk around the brewery asking for additional deposits. People helping people!

With its change to a community charter in 1969, FCU began to grow and today is Michigan’s 22nd largest credit union, with more than 42,600 members and assets in excess of $602 million.

How the Jumbo CDs Compare

When compared to the similar length-of-term CDs tracked by that are available to Michigan residents, Frankenmuth Credit Union’s Jumbo CD APYs currently rank first, regardless of minimum deposit.

The above rates are accurate as of 7/18/2018.

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

Related Pages: Flint CD rates, 1-year CD rates, 5-year CD rates

Brad D
  |     |   Comment #1
Interesting that the CSR said the 25 bps does not apply to a Jumbo CD. I have a Jumbo CD with Frankenmuth Credit Union and I get the extra 25 bps. Frankenmuth Credit Union shows this as Club Benefit Earned on monthly statement. I do not have a checking account with them. All I have with them outside the Jumbo CD is the mandatory Savings account with a balance of ~$6.00.
  |     |   Comment #5
Hi Brad. I'm a little confused - I opened a jumbo 2 year today before I read this. They did not mention the extra 0.25% or the VIP thing. Did you get the extra .25 BPS (3.4%) on your original CD, without having to "earn" the VIP membership prior?? Just opening the 1st jumbo CD automatically made you VIP?? Thanks
Brad D
  |     |   Comment #2
I just spoke in length with a CSR and they confirmed if you are a VIP member you do get the additional 25 bps. That makes the rates very attractive. I will open a second Jumbo CD (probably 2 year) that will give a 3.4% APY with the additional 25 bps.
  |     |   Comment #4
A great deal, esp,, obviously, if you can get the 25 basis points bump. Hadn't read the requirements until after I called, - rep confirmed that you have to have been born in Mich, work there, educated there, etc. Big bummer. And they answered the phone on the first bounce, unlike so many other Banks/CRUs where just talking to a competent rep to open an account can be a nightmare. Ah well, maybe something nationally will crop up. But that 1 year 2.73 + .25 basically gives close to a 3% return on a 12 month cd. Darn!
  |     |   Comment #6
CD rates of 3% and more are no longer available. Frnakenmuth CU changed the rates on Sunday, July 22. New CD rates are not good.
Frankenmuth Credit Union Ups All Jumbo CD Rates
Deal Summary: Jumbo CDs – 9-month (2.17% APY) and 12-month (2.38% APY), $100k minimum deposit.

Availability: All Michigan residents.

Over the weekend, Frankenmuth Credit Union (FCU) raised the rates on its Jumbo CDs (minimum $100k deposit), adding between 21 and 38 bps. While the majority of these Jumbo CDs now have APYs that rank within the top six in their respective term-length category, the 9-month (2.17% APY) and 12-month (2.38% APY) are the most competitive.

These Jumbo CDs are also available as IRAs, earning the same APYs...

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Availability: All Michigan residents.

Frankenmuth Credit Union (FCU) is currently offering very competitive rates on most of its Jumbo CDs ($100k+). These Jumbo CDs are also available as IRAs, earning the same APYs and with the same funding requirements.

I find it interesting that the difference between the Jumbo CD APYs and the regular CD APYs (less than $100k) is large, ranging between...

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Availability: All Michigan residents.

For the past few years, Frankenmuth Credit Union (FCU) has run a series of summer CD Specials. This year is no different, with three “Summer Sizzler” CD Specials being offered, but only the 13-month CD Special (1.60% APY) has sizzle; the other two (21-month, 1.35% APY and 37-month, 1.50% APY) are more fizzle than sizzle.

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After a brief rate drop of about two weeks, Frankenmuth Credit Union's (Frankenmuth CU) Kasasa Cash (2.50% APY on qualifying balances up to $10k) and Kasasa Savings (1.25% APY on qualifying balances up to $100k) accounts have returned to their previous competitive levels.

Kasasa Cash

Frankenmuth CU's Kasasa Cash account currently earns 2.50% APY on qualifying balances up to $10k; balances over $10k earn 0.14% APY, with any non-qualifying balances earning 0.01% APY....

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Frankenmuth CU Offers Michigan's Top Rate 21- Month and 37-Month CDs

UPDATE 3/19/15: 13-month CD Special is no longer available, and rates have been lowered on 21-month CD Special (1.25% APY) and 37-month CD Special (1.65% APY).

Availability: Residents of Saginaw, Tuscola, Bay and Genessee Counties, Michigan.

As part of the "Summer 2014 Dollars & Sense" promotion, Frankenmuth Credit Union (Frankenmuth CU) offered three CD Specials and those competitive rates lasted until the fall months.

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With the hope of spring soon approaching, Frankenmuth CU has raised the rates once again: 37-month CD Special (2.00%...

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