Franklin Mint Federal Credit Union (FMFCU) is currently offering a 24-month CD Special (3.00% APY), which can be opened with a $500 minimum deposit. A 24-month Youth CD Special (for members under 18 years of age), earning the same 3.00% APY, can be opened with a $250 minimum deposit.
The CD is also available as an IRA (Traditional, Roth, CESA), earning the same APY with the same funding requirements.
As stated on the Agreements and Disclosures document, the Early Withdrawal Penalty reads as follows:
Accounts having a term greater than one year the penalty imposed
will equal the lesser of 180 days of dividends or all accrued dividends.
Headquartered in Chadds Ford, Pennsylvania, Franklin Mint Federal Credit Union’s field of membership (FOM) is primarily residency based, with individuals who live, work, worship, attend school, or volunteer in the City of West Chester, the Borough of West Chester, select areas of Norristown, and southeast Delaware County (all in Pennsylvania) and northern New Castle County (Delaware) eligible to join.
Employees or members of many SEGs, affiliated associations, and organizations (including the FMFCU Foundation) also qualify for membership.
Immediate family members (spouse, parent, child, sibling, grandparent, grandchild including step relations) and domestic partners of current FMFCU members are also welcome to apply.
Joining FMFCU can be done online or at any of the 34 Pennsylvania branches, located in Brookhaven, Broomall, Bryn Mawr, Chadds Ford, Chester (2), Darby, Downington (2), Drexel Hill, Folsom, Glen Mills (2), Havertown, Kennett Square, Lansdowne, Media (2), Newtown Square, Norristown, Paoli, Philadelphia (3), Prospect Park, Ridley Park, Springfield (2), Swarthmore, Wallingford, West Chester (3), and Wynnewood. FMFCU also has three Delaware branches, all located in Wilmington.
While checking and savings accounts can be opened online, opening a CD Special must be done in-branch.
Credit Union Overview
Franklin Mint Federal Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 6.74% (excellent) based on June 30, 2018 data. In the past year, FMFCU has increased its total non-brokered deposits by $47.26 million, an excellent annual growth rate of 5.02%. Please refer to our financial overview of Franklin Mint Federal Credit Union (NCUA Charter # 20042) for more details.
Franklin Mint Federal Credit Union is currently, the tenth largest credit union in Pennsylvania, with more than 86,100 members and assets in excess of $1.1 billion. Established in 1970 for the benefit of Franklin Mint employees, the Credit Union’s FOM became so diversified that when Franklin Mint closed its doors in 2004, the effect on FMFCU was minimal. Credit for the FOM diversification goes to John Unangst.
When John Unangst joined Franklin Mint Federal Credit Union in 1976, he knew little about credit unions, but he did realize what could happen if the single-sponsor CU failed.
Back in the civilian world, he had seen companies close their doors and his relatives lose their jobs. When the companies ceased to exist, so did their credit unions. So he quickly decided it was vital to pursue other sponsors, or as FMFCU likes to call them, partnering organizations.
How the CD Special Compares
When compared to the 357 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available within the FOM, Franklin Mint Federal Credit Union's 24-month CD Special APY currently shares the top spot with ConnectOne Bank’s 23-month Online CD APY.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|3.00% APY||24-Month CD Special||Franklin Mint Federal Credit Union|
|2.90% APY||24-Month Share Certificate||CommunityWide Federal Credit Union|
|2.85% APY||2-Year CD||KS StateBank|
The above rates are accurate as of 9/27/2018.
Looking for the best CD rates, both nationwide and in your state? Please refer to our CD Rates Table page.