Freedom Credit Union Adds 30-Month CD


UPDATE 8/16/2018: This 30-month CD special (3.56% APY) has ended and is no longer available.

UPDATE 8/14/2018: Easy membership requirement through ACC is limited to residents of Delaware, Maryland, New Jersey, Pennsylvania, Virginia, West Virginia, or Washington DC .

Deal Summary: 30-month CD, 3.56% APY, $500 minimum deposit, new money.

Availability: Easy Membership Requirement through ACC; residents of five SE Pennsylvania counties; more than 290 SEGs.

This is the way to start out the week: a 30-month CD earning 3.56% APY. This limited-time CD offered by Pennsylvania-based Freedom Credit Union (Freedom CU) requires a minimum $500 deposit of new money, with no stated balance cap. There is also a 30-month Youth CD (3.56% APY) for members 25 years and younger, which requires a $250 minimum deposit of new money.

The 30-month CD is also offered as an IRA (Traditional, Roth, CESA), earning the same APY with the same funding requirements.

In February, DA reader, Ginzy, commented on my blog post about Freedom CU’s 36-month CD, “If you look at their disclosure page it states that you can add funds at any time. You may want to call and verify this.” Unfortunately, the fine print on the promotion page for the 30-month CD states,

Additional deposits are not permitted during the promotional term.

As stated in the Truth in Savings disclosure, the Early Withdrawal Penalty reads as follows:

Terms of 12 to 36 months – 180 days of dividends

Many thanks to the DA readers who emailed me about this new and very hot deal at Freedom CU.


Headquartered in Warminster, Pennsylvania, Freedom Credit Union’s field of membership (FOM) is primarily residency based, with individuals who live, work, worship, attend school, or volunteer in the southeast Pennsylvania counties of Bucks, Chester, Delaware, Montgomery, or Philadelphia eligible for membership.

Community College of Philadelphia employees and students also qualify for membership, as do the employees/members of more than 290 SEGs.

Joining Freedom CU can be done online, or at any of six full-service Pennsylvania branches, located in Abington, Lansdale, Philadelphia (2), and Warminster (2).

Easy Membership Requirement

UPDATE 8/14/2018: One of the SEGs listed is the American Consumer Council (ACC). While there was some uncertainty about the easy membership requirement (EMR) when I last wrote about Freedom CU in February, after two phone conversations and a Live Chat this morning, EMR through ACC is indeed available, but only for residents of Delaware, Maryland, New Jersey, Pennsylvania, Virginia, West Virginia, or Washington DC. ACC members, regardless of residency, can join Freedom CU. You must either fax (215.612.5939) or email ( a scan of your ACC eligibility certificate. According to the CSRs, the online application details the process.

Opening the 30-month CD

The 30-month CD cannot be opened online. After your application has been submitted and approved, you can open and fund the CD through an ACH transfer by calling 215.612.5912. That phone number is specifically for opening or obtaining information about the 30-month CD. The person I spoke with was knowledgeable and was able to answer my questions without hesitation. He stated that while the 30-month CD can be funded via ACH, maturing funds are normally sent by cashier’s check. Another option is to have the maturing funds transferred to a Freedom CU savings account and then withdrawn by ACH.

In summary, if you are not already a Freedom CU member,

    1. Join Freedom CU through online application.

    2. Send proof of ACC membership.

    3. Call 215.612.5912 to open and fund 30-month CD.

    4. Contact Freedom CU sometime in February 2021 to make arrangements for the maturing CD.

UPDATE 8/6/2018: DA reader, me1004, raised a good point in the comments section below. Freedom CU is indeed a member of the CO-OP Shared Branching Network, and using a Shared Branch certainly streamlines the funding process. Thanks, me1004.

Credit Union Overview

Freedom Credit Union has an overall health grade of "A" at, with a Texas Ratio of 3.19% (excellent) based on March 31, 2018 data. In the past year, Freedom CU has increased its total non-brokered deposits by $47.24 million, an excellent annual growth rate of 6.88%. Please refer to our financial overview of Freedom Credit Union (NCUA Charter # 60275) for more details.

Originally chartered in 1934, Freedom Credit Union is currently Pennsylvania’s eleventh largest credit union, with more than 65,200 members and assets in excess of $829 million. Between 2011 and 2014, Freedom CU merged with two Philadelphia area church-based credit unions, and assumed Mayfair Credit Union’s members and deposits after a NCUA liquidation.

How the CD Compares

When compared to the 197 similar length-of-term CDs tracked by that are available within the FOM, Freedom Credit Union’s 36-Month CD APY currently (and clearly) ranks first.

The above rates are accurate as of 8/6/2018.

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

Related Pages: Philadelphia CD rates, 5-year CD rates, nationwide deals

HarvF   |     |   Comment #1
I funded a 30-month CD with Freedom CU just this morning, which took about five minutes to transact. This was a lot easier compared to getting the 3.04% 3-year CD at the end of last year. The CSR told me that this is NOT an add-on CD.
me1004   |     |   Comment #3
Well, you funded through the ACH? But is this CU crediting that today and starting interest today, or are you awaiting the funds being transferred before any of that starts, so maybe a couple days with no interest on that money?
me1004   |     |   Comment #4
Also, re funding the account, DA does not mention whether this CU is in the shred branch system. If it is, we should be able to simply go to a shared branch near us and make the deposit to the savings account, and then open the CD same day, no delays of the ACH involved. And we could withdraw the same way at the end, withdraw same day and get a check from the shared branch (they charge $5 for a check).
Ken Tumin
Ken Tumin   |     |   Comment #5
Thanks me1004. The post has been updated with the shared branch info.
larry   |     |   Comment #8
Have you done this and how does this perform across various CU's? I was told this exact same thing when the latest Andrews CD was posted. They stated that once you get the processed deposit slip your money is immediately is in the deposited account collecting interest. I guess the $5 fee is for the CU's time, but that should be of little consequence since you are getting interest on your account from day one of deposit.
me1004   |     |   Comment #23
Re shared branch, the $5 fee is only for a withdrawal by check, and any withdrawal over I think it is $500 is only by check. There is no fee for deposits, and transactions are credited/debited to your CU account immediately.

This is such an enormous benefit to trying to open a bank account when you cannot go to the branch to do it. It is a huge benefit of dealing with a CU instead of a bank. Banks really should set up some similar operation.

I once even used a shared branch to make a transfer from another CU to a third CU, and rather than have them issue me a check and then deposit it, I asked not to issue the check, just put the cash into the other CU. They did, and I paid no fee as no check was issued.

Much faster than the ACH!
9loop   |     |   Comment #32
I think I understand, but if you would just take a moment and clarify something? When the CD matures I would opt to have the proceeds deposited into my share acct. Then I would go to a Co-op near me and ask that Co-op CU to print me a check ($5 fee) for the proceeds from the CD, I can then take and deposit into my non-related bank account. Is that correct? THANKS!
Rosedala   |     |   Comment #54
me104, it would be ideal IF....the local branch accepts an amount larger than $800. This is what happened to me when trying to open a CD at Interior FCU. I was elated when I found out both my maturing FCU and Interior shared the local branch Bethpage FCU only 20 minutes away from me and I was sure these 2 transactions would be done in 5 minutes...Not so, had to find other means and took several days! Anybody knows if there's a sharing branch for Freedom and in what cities?
highrate   |     |   Comment #60
I think I had trouble at my shared branch when I tried to get a check from another CU. I think they had a limit for the amount of the check. Me, do you know if all the shared branches will give a check regardless of the amount?
HarvF   |     |   Comment #7
me 1004, since I already have an account with Freedom CU, all that was needed was the funding bank's routing and account numbers. The funds should arrive tomorrow via ACH into my new CD account with no loss of interest.
alan1   |     |   Comment #9
I don't understand the recommendation to fund the CD via a deposit at a shared branch. I opened 2 CDs with Freedom in February over the phone on different dates, providing the credit union with the routing number and account number of an external account (Ally). Both times, the Freedom CD was opened, funded and earning interest before the ACH withdrawal was posted to my external account.

What is the advantage of going the shared branch route? I don't see it -- just sounds like additional effort for no reason. But I may well be wrong -- there might be reasons to do it that just escape me.
deplorable 1
deplorable 1   |     |   Comment #13
I agree alan1. After my last shared branch experience I would avoid going that route at all costs as they can have strict limits on how much you can deposit. At least they didn't charge me a $5 fee though.
Sylvia   |     |   Comment #19
From my experience, with most CU's, you can't get the CD opened until you've got funds showing in your account or CU has your check in hand. The shared branch deposit route allows you to avoid delays caused by mailing of check to CU or execution of ACH, the latter often entailing verification of account, without incurring cost of wiring funds. Once shared branch accepts your check, you're set to go. That advantage seems unnecessary here as you say Freedom will open and fund the CD with just your routing info.
me1004   |     |   Comment #25
HarvF, but that is the point, you are losing day(s) of interest waiting on the ACH, and some banks create multiple days delay. Not even one day of lost interest if you do it through the shared branch system.
HarvF   |     |   Comment #49
me1004. I think my experience differs from other people opening a NEW account a Freedom CU. Because I had already gotten a CD from it last year, all I had to do was give the routing and account numbers of the financial institution I was withdrawing the funds from via ACH. Last night, I checked my online Freedom CU account and the account was already set up with a new account number and the CD maturity dated the day I called [August 6]. All the credit union was waiting for were the funds. And, to my surprise when I checked this morning, the funds were entered in the new CD account showing August 6 as the beginning date. So, there was NO loss of interest. BTW, when I checked the bank account from which the funds were to be withdrawn, they're still there. I'm still getting interest until they are withdrawn!
me1004   |     |   Comment #2
Rather than closing the CD to a savings account and then use the ACH to get the funds, can we have a checking account and simply write a check, which can be so much faster to get your money or move it elsewhere?

I've noticed DA often notes that about a savings account but never considers the easier and faster way of a checking account and writing a check.
Pie Tin
Pie Tin   |     |   Comment #6
A checking account does not sound simpler and easier than ach, and is quite a burden for the financial company, when the plan is to write a single check.
deplorable 1
deplorable 1   |     |   Comment #14
Because the bank may put a long hold on that check and you can ACH out to the high yield savings of your choice. Plus savings accounts will almost always pay a higher interest rate then a checking account. Sometimes a MMA is a option.
me1004   |     |   Comment #26
The hold doesn't matter -- unless you want to take it out of the bank you deposited the check to. The hold does not prevent the money from being transferred to open a CD.
deplorable 1
deplorable 1   |     |   Comment #31
I believe m1004 was referring to getting the money back out into a checking account. Most checking accounts pay 0% or next to nothing. In this case long hold times do matter. If it's going directly to a CD however the hold time doesn't really matter.
me1004   |     |   Comment #48
deplorable1, I can't even follow what you said. No, I'm saying when one CD matures, you have it closed to a checking account at that financial institution, and immediately write a check to the new CU where you want to open a CD. There is no hold on the money from the CD that you transferred to the in-house checking account where you closed the CD, and no lost interest as you have it in the CD at the new CU same day.

The hold I was talking about was on the deposit to the new CU, when you deposit to the savings account there. That hold is irrelevant, as they can still transfer the money to open the CD, and bring the hold over with it -- it in house. That hold does not freeze it in the savings account, it simply prevents it from being withdrawn from the CU.

I have been doing this for at least 15 years, I have never had an issue about that hold. You made a comment that the deposit to the savings will have a hold on it so can't be moved -- yes, it can be moved.

I don't care how you want to do it, but nothing out there, not even fed funds wire, is as fast as the shared branch system.
alan1   |     |   Comment #15
me1004 -- re Comment #2
Info on Freedom Credit Union's "Free Interest Checking" account can be found at
Robb   |     |   Comment #10
Does anyone know if applying for membership requires a hard or soft pull? Thanks in advance!
Luvcd   |     |   Comment #12
Ken, wouldn't this type of info be neat to have for all postings?
Ricochet   |     |   Comment #20
Probably out of date but worth a look
rateshopper   |     |   Comment #30
Hard pull. And they use Experian. I called this morning. Probably a deal killer for me. Just too much hassle.
Robb   |     |   Comment #34
Thank you. I am trying to avoid anymore hard pulls for the next couple of months.
RJM   |     |   Comment #11
Pretty good rate compared to a brokered that runs 2.80%. Or a 2 year at 2.85%.

I guess the ACC costs $8.

Two ways to join:

1. Join for $8.00 - if you currently use or have used a major consumer product or service in the past 12 months, you can join ACC or your state consumer council for $8.00!

2. Lifetime Members - The lifetime cost of membership is $15.00.
deplorable 1
deplorable 1   |     |   Comment #16
Or you can join for free using the "Andrews" code. :)
RJM   |     |   Comment #21
I forgot this was the same outfit.
But, I sure did not print an eligibility certificate.
deplorable 1
deplorable 1   |     |   Comment #33
Didn't you save a PDF file of your membership certificate? You probably just need the number anyway. If you are using Chrome just find the email and select print. In the upper left corner hit the CHANGE button and then select SAVE AS PDF.
RJM   |     |   Comment #37
Thanks. The email was still there.
alan1   |     |   Comment #17
Re comment #11 -- there may be a third way to join that costs nothing. ACC usually has a promotional code to waive the fee. Last I looked (quite a long time ago) the code was:

deplorable 1
deplorable 1   |     |   Comment #18
I may be crazy but since this is not a add-on CD I'm going to pass on this one. Although this is a great rate with 2 more FED hikes in the works and more next year I'm seeing 5% interest rates right around the corner. That 18 month 3.15% was even a stretch for me. If we get a surprise surge in inflation rates could change rather quickly so I'm keeping some powder dry.
RJM   |     |   Comment #22
Its .71% better than a 2 year brokered. That is enticing,

But the 3.15% is .6% above an 18 month and that is too.

But, I might do nothing for a week or so.
CapitalClimate   |     |   Comment #24
Jamie Dimon Warns of 5% Treasury Yields:
We shall see:
deplorable 1
deplorable 1   |     |   Comment #35
Well this is what Dimon does for a living so I would imagine he has some insider knowledge. He also shares my belief that a recession is not around the corner and the stock market has a good 3 year bull left to go. I actually think it could go on for longer than that since I don't believe we had a real economic recovery until 2016 and economic recoveries usually last about 5.5 years on average. I won't go into why as my comment will be deleted.
Free Dumb
Free Dumb   |     |   Comment #39
Thank you for not "going into why."
deplorable 1
deplorable 1   |     |   Comment #68
The why does matter though as this is what allows me to make these predictions accurately. ; )
Prometheus   |     |   Comment #27
Uh, you're not crazy, deplorable 1. You're not even close.
highrate   |     |   Comment #61
there are posters here who are very optimistic about rates continuing to go up, Of course, I've seen that optimism here a lot over the last 8 or 9 years. But this is really the first time we've seen a real bump up in rates across multiple institutions. I'd like to be optimistic but I'll believe higher tates when I see them. This might be worth jumping on.
Interested   |     |   Comment #28
Easy to get this CD if already have an acct. The CSR is very quick and good. All I had to do is give them a bank acct and routing number to pull from for funding and he said the new CD will be posted tomorrow.
Striker   |     |   Comment #36
Seems to be a worthwhile rate and time frame to warrant taking advantage of this offer. Quite an ordeal to open this CD so far. First - have to join ACC. Joining took just a few minutes and the certificate came by e-mail within 5 minutes. Thank you alan1 for the promo code "consumer". There has been no $8 charge so far. Then on-line to Freedom CU to join. Took about 15 minutes, and was unable to "SUBMIT" at the end of filling out the application. Called Freedom, and about another 15 minutes on the phone with someone in the call center - finding my application in the system, and taking down a lot of the same info I had entered in the application. She could not open the CD. Someone will be calling me tomorrow from Freedom to hopefully open and fund the CD. If I would have know it would be this cumbersome and a two day (hopefully only two days) process, I would probably have passed on the offer. Amazing what we'll do now-a-days for 3.56% !!
To be continued ....................
larry   |     |   Comment #38
It's a good rate for now, but it is also 2.5 years with 6 month EWP. Rates are going to jump at some point and you won't want to be locked up for the next 2.5 years. If you hold on to it for 1 yr the yield will be 1.78% which obviously better than Ally or Goldman's 5 yr. for one year hold. This only works if it's part of a CD ladder, which will be OK as long as you don't go balls to the wall in this.
Striker   |     |   Comment #40
Sound Advice, Larry ! Thank You !
I do not plan to EW. Right now 3.56% for 2 1/2 years is not bad. About the best we can hope for going forward is probably 4%-4.25%, - maybe available in 6-12 months. So would only be losing about .5% to .75% for 18 months, while gaining the 3.56% for the next 12 months. Also have CD's maturing in early 2019 to take advantage of hopeful upcoming increases. Still wrestling with this one. Going to sleep on it tonight before funding tomorrow.
It's a crapshoot !
alan1   |     |   Comment #41
Re the 180 day early withdrawal penalty -- According to Freedom's disclosures, 180 days is the maximum penalty. "The amount of the penalty will not exceed dividends earned through the date of withdrawal."
p.2, col. 2 '"Early Withdrawal Penalty" at

Please note that I am quoting the credit union's general disclosure statement. The disclosure for the 30-month special simply states: "Penalty will be applied for early withdrawal."
lou   |     |   Comment #42
I bought the 4% Sharonview CD deal, and I'm already regretting it. Unless there is a deal that blows me out of the water, I will pass on every CD deal or offer for the rest of this year. Patience is the order of the day.
SAS   |     |   Comment #44
I went with truckload in Sharon View. At that time, Sharon View was a great deal, and going (nearly) all in was appropriate decision. If I knew the future (which sadly I do not), I would not have gone in. But no regrets at all.
HarvF   |     |   Comment #51
SAS. I did the same as you did. I opened both a regular and IRA CD account and loaded them up. Two CDs at PenFed are maturing this year in December, one in a regular account and the other in an IRA account. I hope CD interest rates will be at least 4% by then.
Luvcd   |     |   Comment #45
Luv your rationale
HarvF   |     |   Comment #50
lou. Why are you having regrets for purchasing the 4% CD at Sharonview FCU? That's a whole lot more than what's been offered since then. There may be other opportunities for purchasing CDs at rates higher than that, but while you're waiting, you've been making 4% on that CD. No one knows what the highest CD rate will be. By laddering your CD purchases as the rates increase, you have a better chance of picking most of the highs. Stop berating yourself---you did yourself proud with the 4% Sharonview CD.
lou   |     |   Comment #52
No, I don't regret anything, but it does appear that rates may go higher than 4% before the end of this year. I wouldn't be surprised it they go a lot higher than 4%. Going forward, I don't intend to purchase any more CDs in the near future even if they appear to be great deals. Almost everything about this economy would suggest higher interest rates in the next year or two. Need to be patient.

For eight years we jumped on any deal that was halfway decent because there were so few of them. Now we are in a different environment which requires the opposite approach.
HarvF   |     |   Comment #56
lou, you said, "I bought the 4% Sharonview CD deal, and I'm already regretting it. Unless there is a deal that blows me out of the water, I will pass on every CD deal or offer for the rest of this year. Patience is the order of the day."

Why are you regretting the 4% Sharonview CD purchase? Because you think you could have used it to purchase a 5% CD, when it became available. It could be a year or more before that happens, or it may never happen. Who knows what the economy will be like a few months or a year from now...after the mid-term election.
Patience may be a virtue, but by waiting too long you might miss the boat completely, if your scenario does not play out. I think the prudent thing to do is ladder and spread your CD purchases as rates rise. When you buy and what maturity you pick will depend on your own preferences.

No one knows when CD interest rates when rates will hit their high or stop rising. We may not see a 5% CD until a year from now or longer. Do you have your funds parked in a savings account while you're waiting? I bought a couple of CDs three years ago with interest rates just a little above 2%, and I was thrilled then. That was a good deal at the time, because saving and checking interest rates at online banks and credit unions were minuscule. I just did the best I could at that time,
Traveling Pants
Traveling Pants   |     |   Comment #57
Bless you Harv!!!!

Dan Rather
Dan Rather   |     |   Comment #80
No, Bless YOU, Big-Boy Pants!

(What's the frequency, Kenneth?)
deplorable 1
deplorable 1   |     |   Comment #67
I only missed the Sharonview deal because I was chasing 5% capped savings accounts at the time. Although I think 4% CD's will be commonplace by the end of the year putting at least a small amount in this CD was a prudent thing to do. I have a 5 year 2.5% CD that has 2 years left to go and that may seem like a bad deal now but you still can't get 2.5% on liquid cash even today. Here is a good rule of thumb if your CD is paying a higher rate then the top MMA/Savings account for most of term you did pretty well.
me1004   |     |   Comment #58
Oh, rates arentl going togovoer 4% by the nedof this year! Tehre will be only twomore Fed hikes, and rates areontl going tobe compltley detached fromt he Fed rate.

If you're thinking that because of Jamie Dimon's comment about 5%, he is talking of the 10-year note, not the time frame for which one gets a CD. AND, the stories I've seen do not have him giving any time frame for when, but it certainly is not by the end of this year. He probably means that is where things eventually will peak down the line, not in the near future.
deplorable 1
deplorable 1   |     |   Comment #82
It has nothing to do with Dimon. If you read my posts I made that call before Dimon made his. I'm talking about the highest 5 yr CD rates that will be available. I predict 4% by the end of this year and 5% by the end of next year. If you recall I predicted that 3% CD's would be common this year and I made that call last year. I also said that rates would rise as soon as Trump is in the white house back before the election.
lou   |     |   Comment #84
Here is the thing: you're best off employing a contrarian policy with respect to the consensus opinion on this website. From about 2008 to 2012, most posters here refused to buy long term CDs because they were sure interest rates were going up in the near future. There were a million reasons people had for believing this. Quantitative policy and zero interest rates were going to be inflationary. Also, people couldn't wrap their heads around zero interest rates and refused to believe they would stay low for very long. I would say at least 4 years must have passed before the majority of posters finally began to buy long-term CDs. In fact, there were many posters who refused to purchase the 5% 10-yr Penfed CDs in 2010 or bought far less than they should have.

Now after 10 long yrs with lousy rates, posters are still shellshocked or suffering from post traumatic syndrome and refuse to believe we are now in a totally different economic environment that is most receptive for higher interest rates. Of course, anything can happen, but almost all the economic factors you need for higher rates are now present in this economy. So I intend to wait at least until the end of the year before I commit any funds to any securities longer than 6 months. Also, with the flattening yield curve for the time being there is no reason to go long with any of my money.
lou   |     |   Comment #85
With respect to the Sharonview CD, I have no regrets. 4% is a pretty good rate; however, the 1yr EWP is longer than I would have liked. It would be inadvisable to withdraw money early from this CD unless rates hit 6% or higher. At 6%, it would take 2 yrs to breakeven (4 yrs at 5%) if you break this CD early. So for anything less than 6%, I am probably going to hold the CD for 64 months. I would be much happier if this CD had a 6 months EWP.
deplorable 1
deplorable 1   |     |   Comment #93
Great comments lou! I actually did lock in long term CD's just before the rates dropped as I saw the writing on the wall. I had 2 large 5 and 7 year CD's locked in at 5-6%APY. What I failed to do was research the financial condition of those banks as I was in a big hurry to lock in those rates before the drop. I think I was about 3 years in when those banks failed and I got 2 checks from the FDIC. I think the best you could get was maybe 1% in the bank at that time. Even though I was able to see what was coming I still ****ed up and I probably should have went for 10 year CD's. The timing of how long 0% rates would last was a really tough call.
Newbie1   |     |   Comment #59
If my memory serves me you posted that you took some EWP’s to fund Sharonview, so I can understand your comment. Due to the extended decent rate drought my guess is most of us, if not all, have some delayed buyers remorse. I know I do.
SAS   |     |   Comment #43
GreenWoods' offer for 30mo CD is right above this offer of Freedom in the BLOG post.

Responses for that is just 1 (at present). Responses for this are 40+ already.
RJM   |     |   Comment #46
Maybe because 3.56% is more than 3.25%? Just a guess,
SAS   |     |   Comment #47
Right ... that's my guess as well !!
Big Words
Big Words   |     |   Comment #53
Whoa, interesting theory!!!

Thanks for the insight!!
pam   |     |   Comment #62
Hi, I have joined ACC through many previous credit unions, but never really ever got a certificate of membership. Does anyone know a fast way to obtain this? Thanks.
alan1   |     |   Comment #63
I suspect the quickest way is to simply join ACC again.
Go to

At the end, where it says "Membership Code", enter consumer -- should save you the membership fee.
RJM   |     |   Comment #66
I did not think I had one either but it was in the from email when I joined which I still had.
Sylvia   |     |   Comment #81
You can get a duplicate certificate by contacting ACC’s Membership Dept., membership at, 800.544.0414. They’re very responsive.
Rosedala   |     |   Comment #86
Hey Pam, if you wish I can email it to you though I don't know whether this is the Kosher thing to do? :D
J_Norton   |     |   Comment #64
Are you guys saying that after opening an account online, I can fund the CD at a shared branch, with a check for any amount, say even $200,000. Really?
bank6   |     |   Comment #65
Yes. Funding the account at a shared branch is not a problem. The question everyone has is "how exactly do you use a shared branch to get the proceeds at maturity?"
First: Apply online, open the share savings account. Write down the account number.
Go to shared branch: show your drivers license, give them the name of credit union you want to deposit the check into, give them the account number. Then write the check to yourself and hand it over. The account will be funded immediately. They will give you a receipt. Go home, call the CU and tell them to open the CD and they will transfer your funds from the share shavings account and open the CD. Done!
RJM   |     |   Comment #70
You did not mention "how exactly do you use a shared branch to get the proceeds at maturity?". You mentioned how to use a shared branch to open the account. I have already done that.

I presume its fairly easy. But a check is not needed.
bank6   |     |   Comment #72
What? I was answering J_Norton's question "Are you guys saying that after opening an account online, I can fund the CD at a shared branch, with a check for any amount, say even $200000?, Really?" So, I answered the question, but also added a comment in case anyone would like to respond. Seems several people are not clear on how exactly you use a shared branch to receive your funds once the CD matures.
RJM   |     |   Comment #73
I was pointing out that your answer, the one you posted, not the other guy...was not answered a different question.

So yes, I am not clear on exactly how it works because I have not done it yet.

I have done the share branch deposit 3 times now so I am an old pro.
bank6   |     |   Comment #74
Alright, I see. It would be nice if someone who has done this would clearly state how the process works for those of us who would like to do it too. I, also, have used the co-op to make initial deposits for CD's and found it convenient. I have not used a co-op to cash out my CD at maturity either. Thanks for the clarification.
Sylvia   |     |   Comment #78
I’ve picked up checks at a shared branch. After encountering some resistance a few years ago, I now avoid that route, preferring to access my funds by ACH whenever possible. The same branch that had issued checks to me previously without fuss said it had not received directions from CU, where I had maturing CD, to cut me a check. I had to wait while staff at shared branch sought check authorization from home CU. My advice is to consult both CU and shared branch in advance. Don’t presume it’s as easy as depositing a check. One or both may have restrictions on check issuance, especially for large amounts. Arrangements may also change over time.
bank6   |     |   Comment #79
Thanks, that is helpful info!
J_Norton   |     |   Comment #118
Well, bank6 it did not work out for me exactly like that. As soon as I deposited at the share branch the deposit appeared at my account at Freedom. Great. When I called to open the CD, the rep says that it can not be done until the deposit is "released" and that takes a week. I just hope that the special CD will be still available then or at least they will honor my attempt to open the CD.
Dunmovin   |     |   Comment #119
Tell them to place the "hold" on the special CD or send the money back to you!
DAJunky   |     |   Comment #120
Unfortunately, I've also encountered this artificial road block with CO-OP deposits
at some other institutions. The receiving institution CSR just quotes the standard funds availability policy and doesn't seem to understand the hold condition is transferable between accounts (savings to new CD), enabling CD interest accumulation from day of deposit. Thus, until expiration, the hold only serves to prevent possible early withdrawal attempts. But it shouldn't prevent account opening! Really no different than opening a check-funded CD in person!

Speaking with a supervisor usually resolves the issue in a timely fashion.

But with potentially special software in place for this promo to contend with,
and possibly having to play 'phone tag' with representatives, I suppose YMMV.
DAJunky   |     |   Comment #122
For this promo it appears allowing the CU to do an ACH 'pull' from an external savings/checking is probably more expeditious, likely sidestepping the hold issue. Too late for that route for you now without a lot of additional complexity, hassle, and delay, unfortunately ...
Sylvia   |     |   Comment #123
J_Norton, when you send check through the mail for purposes of opening a CD, the CU typically deposits it in your share account before immediately transferring funds to CD, along with hold on check. Call back and specifically ask that they transfer hold to CD, or elevate to higher level personnel, as others have suggested. I've never had a CU insist on waiting out the hold before opening CD.
larry   |     |   Comment #75
That's the problem for me because I'm not sure I want to be seen walking into the same shared branch with a check for $250k. I like the anonymity of using ACH even if I miss a day or two of interest.
Bogie   |     |   Comment #76
Who is going to know you you are walking into the bank with a check for $250k unless you go waving it around for everyone to see?
Rosedala   |     |   Comment #87
Bogie, nowadays with computer tech what it is....there's no telling of its extraordinary capabilities. I think Larry is right. ;)
Bogie   |     |   Comment #89
Rosedala, computer technology being what it is nowadays, there's no telling the extraordinary capabilities of hackers. Your chances of being ripped off are greater over the "net" than when doing business person to person.
aaa   |     |   Comment #88
I'm from bay-area, and $250k check is no big deal over here. You may not get a second glace even if you waive it around.

Are you suspecting that the tellers in your local shared branch have their Twitter, Instagram, Live Cams all fired-up just waiting for someone to make a $250k deposit, to begin broadcast of your details Really ... again where are you from?
just me
just me   |     |   Comment #91
aaa (#88) of course a $250k check is no big deal in your area. Isn't that the monthly rent for efficiency apartments in the Bay area?
aaa   |     |   Comment #92
Nah ... It's all rent-controlled .... so its like $150 to $250 for 4 bed apartment.;-)

Will be interesting to find out how much MZ of Facebook used to pay when he dropped out of college and came here.
gregk   |     |   Comment #77
Wake me up when there's (another) 4% offer. Will keep investable funds liquid until at least then, - and maybe longer.
SYC   |     |   Comment #90
4% APY has been around since July. Achieva CU is offering at least 4% APY for 5 year IRA CDs.
Robb   |     |   Comment #95
@SYC I did double back and spoke to a rep at Achieva who said it was a nationwide deal after being told otherwise a month or so back. The issue is that they will not guarantee the rate even if you've initiated the paperwork so some people at the end of the deal might end up getting stuck having to move the IRA elsewhere potentially taking up a couple of months of time and effort. At least with the Sharonview deal they held the rate for those that had started the paperwork process.
SYC   |     |   Comment #96
Opened my 5 year IRA CD with Achieva in 6 business days in mid-July by using overnight delivery (thanks to @Kennewickkid) from sending the transfer form to Achieva , from Achieva to the IRA trustee (fax not accepted) and the check to Achieva from the IRA trustee. Well worth the delivery costs I had to pay to expedite the process.
Robb   |     |   Comment #97
That must have set some type of record! Good job. Typically it takes me 2-3 weeks to get it squared away and that is with the transfer form being faxed to the IRA trustee. I think in a situation like this where they will not guarantee the rate you took the quickest path possible.
SYC   |     |   Comment #98
Definitely not possible if I was doing this process with a well-known large internet bank instead of Achieva. Arranging an overnight delivery of the form instead of snail mail to the IRA trustee would have been out of the question. This is based on my past experience.
Bogie   |     |   Comment #99
Robb, comment #95, I agree. That is the very reason I passed on Achieva's 4% IRA CD.
CDninja   |     |   Comment #106
I called them 4 different times and spoke to 4 different people. My understanding is you are guaranteed as long as you become a member and ONCE you make a request for ira docs with that rate AND assuming you show intent to opening it like asap or say a week or two. Even if the rate drops during that time you will get the original rate on the docs. So the only gamble I see is the supposed 24-48 hour time frame of joining and becoming a member to then BE ABLE to request the IRA docs in that during THAT window of time they dont drop the rate.
What's up
What's up   |     |   Comment #100
I don't know about others, but getting this Freedom CU membership opened is not going well. I filled out the online application over the past weekend. I called on Monday & was informed that my app was withdrawn. (they didn't know why) The Rep told me to reapply, which I did 8/6.

I was told I would need to mail my ACC membership. (after searching, I found it) Now, after 2 days they tell me it may take another day before I will hear anything about my membership.

Freedom CU 30-Month CD, 3.56% sounded pretty good, but I'm beginning to wonder if it's not just a hoax. After reading all 94 responses here, my question is.. Has anyone opened a new account?
nomdeplum3   |     |   Comment #101
I live in the 5 county SE PA area so did not have to join ACC. I opened the account online on Monday. Got welcome email on Tuesday, called and was told someone would have to call back as they were busy. Less than 2 minutes after I hung up someone called back. I provided him info re the account I wanted the funds ACH ed from and while still on phone signed up for their online banking site. Once I signed out of the site and signed back in the new, unfunded CD was listed.
Wednesday morning I signed back in and the CD is showing as fully funded.
SAS   |     |   Comment #103
They have one rep who speaks English in Russian accent. OMG I could hardly understand anything what she was speaking. I was getting used to service reps from India speaking in accented English. But this was quite different !!
valuable repost
valuable repost   |     |   Comment #104
CLH | 3 hours ago | Comment #102
The email address to send the ACC certificate is wrong. "memberservices..." was undeliverable. FCU told me to send it to
Striker   |     |   Comment #105
Joined ACC on Monday afternoon. They sent the certificate within 5 minutes. I opened an initial Freedom CU account over the phone with help from a Freedom representative. I emailed her the ACC certificate directly, while we were on the phone. As it was late in the day, she said someone would call in the morning to open and fund the CD. Someone called first thing Tuesday, but I missed the call and was out of pocket most of the day. I called back on Wednesday morning, and the CD was opened and funded through ACH in about 10 minutes. I logged in today to the Freedom account (with help setting up a username and password from a Freedom Rep), and the ACH funds are there and in the CD. I have spoken to three different people at Freedom CU this week. All very cordial, professional, and helpful. I have not spoken to anyone with the Russian accent that SAS refers to . All have spoken excellent English with no accent.
CLH   |     |   Comment #102
The email address to send the ACC certificate is wrong. "memberservices..." was undeliverable. FCU told me to send it to
highrate   |     |   Comment #107
does anyone know how long this will be available?
Anon   |     |   Comment #108
I was already a member from prior promotion. Today I called to open the CD. CSR said I can open for $5 by providing routing/acc# of funding institution to person that will call me back. A few hours later, the CD person called me back and said $5 is waived since this is a promotion. She took my info and opened the CD within 5 minutes.
qde   |     |   Comment #109
submitted app on monday. called wed for status, was told account would be opened later same day or latest thurs morning. Called thurs afternoon, account not opened, unable to provide status or eta of opening.

very frustrated
What's up
What's up   |     |   Comment #110
I'm in the same situation. I applied on Monday 8/6. Was told to fax copy of ACC & DL. Faxed those items & still waiting. Again I called & was told they received items & Natalie would call. First time I was told Christian would process my acct. Seems no one is following up..

This story is causing frustration. Seems no one is following up on my membership or allowing me to process an account. I'm thinking I will call on Monday 8/13 & ask for a Supervisor (if they have one) to find what is the problem.
moneysaver   |     |   Comment #111
Does anyone who's dealt with Freedom here know the following:
--how often they compound and credit/pay the CD dividends (monthly, quarterly, etc.)?
--what options they provide for the handling of those dividends (credit to share or checking account, credit to the CD, mail a check, etc etc)?
alan1   |     |   Comment #113
#111 -- The compounding and crediting of interest are the same for the 30-month special as for their regular CDs -- compounded monthly, credited monthly. Withdrawal of dividends is allowed.
see page 2 of PDF at

Interest can be retained in the CD. According to the person who opened my CD, credited interest may be withdrawn at any time without penalty.

I did not ask about the other options you mentioned (crediting interest to another account at Freedom or mailing a check).
RJM   |     |   Comment #112
I am still contemplating this deal but the comments below about needing copies of drivers licenses and trouble opening the account are dissuading me.

I should probably sit tight as a better deal will come down the pike in the next month or two.
Rosedala   |     |   Comment #114
I too am just about to give up the lousy extra interest by Freedom for which 1. It's not known whether our funds will arrive in time for the new interest (today's CSR told me this promotion may even close today!; 2. I just found out my present institution needs to send me a 7-page form then sent back to them and...I don't know what Freedom FCU will require, so...we're talking of 2 to 3 weeks (or more) if done by reg. mail, or, at $25 bucks each way by wire...still not arriving in time! And I didn't count the many hours on the phone with the 2 institutions. It ain't for moa... :) I may try the IRA at 4.2% if I feel it goes much faster with a lot less papering! I'll have to be satisfied with my annuity for 5 more years at 3.4% while my time becomes my own again. lol!
LOL!   |     |   Comment #115
oh, funny, cheers!
nomdeplum3   |     |   Comment #116
I opened a second Cd today (opened one easily last week). Seems it will be ending soon. Rep said may only last a couple more days.
Rosedala   |     |   Comment #125
Hey nomdeplum3, you're a lucky guy/gal! Good for you! At least one of our DA member family got a correct CD process! :)
Rosedala   |     |   Comment #121
About my frustration of having to fill out a 7-page form for Freedom....get this: Achieva just sent me a 15-page form!!! Honesty, this passion for breeding papers all over is just incredible to me! Why couldn't they make total use of their tech toys and do everything online? One can even SIGN ON LINE! What's the secret I wonder???
pwj7050   |     |   Comment #117
Opening this 30 month CD is an incredible hassle. In fact, I still have not been able to talk to one of the two people who handle this offer. I called twice yesterday and was assured that someone would call me this morning. The appt. time came and went so I called and left a message, waited 2.5 hours and called again. I still can't get through to the appropriate person.

In fact, one of them is out today and the other is supposedly in training!!!! So, people are calling to get in on this offer, but there is NO ONE there who can open the accounts!
Update: 8/14/18 11:15 AM PDT, I finally got a call back.  Apparently, they misunderstood the time we agreed to talk (EDT v PDT), but the account is open.

As others have posted this offer will most likely be gone by the end of the week latest.
DAJunky   |     |   Comment #124
And if Ken's latest update to this deal posting is correct:

-- UPDATE 8/14/2018: Easy membership requirement through ACC is limited to residents of Delaware, Maryland, New Jersey, Pennsylvania, Virginia, West Virginia, or Washington DC .

I wonder how many people having joined under auspices of ACC without satisfaction of the
additional residency requirements, if indeed that new information is correct, will eventually be
tossed out of the CU and funds returned (hopefully without EWP)?
safe   |     |   Comment #126
think you be ok.
usually once member always member
Justice Division
Justice Division   |     |   Comment #128
"I wonder how many people having joined under auspices of ACC without satisfaction of the additional residency requirements, if indeed that new information is correct, will eventually be tossed out of the CU and funds returned (hopefully without EWP)?"

A good guess would be Zero. On the off chance you are new to this site, there is a lot of plain wrong information. An even better source than the misinformation here is the credit union itself. If they allow people to join, it is a pretty good indication the credit union will not be going through old accounts to kick people out.
mur44   |     |   Comment #127
The Fee Schedule says that there is a Dormant Fee of $10.00. When is the account
considered Dormant? My experience opening the account and fund it was very smooth. The
customer service representatives are simply excellent.

I opened the 30 month Special CD. Do I need to do any transactions periodically in this account
to protect from this exorbitant dormant fee?
Freedom Credit Union Adds 36-Month Special CD
Deal Summary: 36-month CD, 3.04% APY, $500 minimum deposit, new money.

Availability: Possible Easy Membership Requirement through ACC; Residents of five SE Pennsylvania counties; more than 290 SEGs.

Freedom Credit Union (Freedom CU) has added a 36-month CD earning 3.04% APY. This limited-time offer requires a minimum deposit is $500 of new money, with no stated balance cap. There is also a 36-month Youth CD (3.04% APY) for members 25 years and younger, which only requires a $250 minimum deposit.

The 36-month CD is also offered as...

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Top Long-Term CD Rates at Freedom Credit Union in PA - Local Only

Sometimes banks and credit unions become rate leaders because their rates fall less than others. That's the case with Freedome Credit Union in Southeast Pennsylvania. It has three CD rates that are especially competitive. These include a 2.50% APY 5-year CD, a 2.20% APY 4-year CD and a 1.75% APY 3-year CD. Minimum deposit is $500. CDs can be opened in IRAs, ESAs and even HSAs. These rates are listed in the credit union's rates page as of 1/5/2012. CD details are available in the CD rate and fee schedule....

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5.15% 60-Month / 5.00% 36-Month CD at a Pennsylvania CU (Freedom).
Freedom Credit Union has some competitive long term certificate rates. These include a 5.15% APY 60-month CD, 5.05% APY 48-month CD and a 5.00% APY 36-month CD. The minimum deposit is $500. These rates are also available in an IRA.

These are not the best long term CD rates, but they're competitive especially considering the minimum deposit. The best rates available nationally for these terms are up to 5.38% APY as of last Saturday.

Membership is open to anyone who lives, works, worships, or attends school in the five county Southeastern Pennsylvania...

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The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.