Freedom Credit Union Offers 24-Month CD, 3.05% APY


Deal Summary: 24-month CD, 3.05% APY, $500 minimum deposit, additional deposits allowed.

Availability: Easy Membership Requirement for residents of DE, MD, NJ, PA, VA, WV, and DC; residents of five SE Pennsylvania counties; more than 250 SEGs.

Pennsylvania-based Freedom Credit Union (Freedom CU) is currently offering a competitive 3.05% APY on its 24-month CD. The minimum opening deposit is $500, with no stated balance cap. There is also a 24-month Youth CD (members 25 years and younger) earning the same 3.05% APY, but only requiring a $250 minimum deposit.

3.05%$500-Freedom Credit Union (PA)24 Month CD
3.05%$250-Freedom Credit Union (PA)24 Month Youth CD
3.05%$500-Freedom Credit Union (PA)24 Month IRA (Traditional, CESA, Roth)
Rates as of January 21, 2019.

The 24-month CD is also offered as an IRA (Traditional, Roth, CESA), earning the same APY with the same funding requirements.

Additional Deposits

The Certificates of Deposit page lists this gem – “Flexibility to add to your CD any time after opening.” The Truth-in-Savings disclosure confirms this very nice feature.

Additional deposits allowed any time after opening or renewal, and prior to closing

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


Headquartered in Warminster, Pennsylvania, Freedom Credit Union’s field of membership (FOM) has undergone significant changes in the past year. At the beginning of 2018, the Credit Union offered a nationwide easy membership requirement (EMR) through the American Consumer Council (ACC). In August, the availability of EMR was narrowed, with only residents of Delaware, Maryland, New Jersey, Pennsylvania, Virginia, West Virginia, and the District of Columbia now qualifying.

The EMR has a new wrinkle: ACC is no longer listed as an SEG on the Credit Union’s website, putting the EMR in question. According to CSR (who double-checked with a supervisor), membership in Freedom CU is still open to all residents of the above-mentioned states through ACC membership.

To join using ACC membership, you must either email ([email protected]) or fax (215.612.5939) your ACC eligibility certificate. According to the CSR, the online application details the process.

Local Residency: Freedom CU also offers membership to individuals who live, work, worship, attend school, or volunteer in the southeast Pennsylvania counties of Bucks, Chester, Delaware, Montgomery, or Philadelphia.

Select Employee Groups: Community College of Philadelphia employees and students also qualify for membership, as do the employees/members of more than 250 SEGs.

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

Opening a CD

CDs 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 215.612.5919. CDs can also be funded by using a CO-OP Shared Branch. Maturing funds are normally distributed by cashier’s check, but can be transferred to a Freedom CU savings account and then withdrawn by ACH.

Credit Union Overview

Freedom Credit Union has an overall health grade of "A" at, with a Texas Ratio of 3.29% (excellent) based on September 30, 2018 data. In the past year, Freedom CU has increased its total non-brokered deposits by $86.94 million, an excellent annual growth rate of 12.75%. 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 67,400 members and assets in excess of $870 million. Between 2011 and 2014, Freedom CU merged with two Philadelphia area church-based credit unions, and also assumed Philadelphia-based Mayfair Credit Union’s members and deposits following an NCUA liquidation.

How the CD Compares

When compared to the similar length-of-term CDs tracked by that require a similar minimum deposit and are available within the FOM, Freedom Credit Union’s 24-Month CD APY currently ranks second.

Interest RateCD Length of TermCredit Union/Bank
3.20% APY2-Year Senior Citizen CDState Bank of India (IL)
3.05% APY24-Month CDFreedom Credit Union
3.03% APY24-Month CDFirst Internet Bank

The above rates are accurate as of 1/17/2019.

Looking for the best CD rates, either nationwide and state specific? Please refer to our CD Rates Table page.

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

Anon   |     |   Comment #1
You got me all excited by pointing out 'Additional deposits allowed any time after opening or renewal, and prior to closing'.

You cannot add to promotional CDs, only to regular ones.
micheleforan   |     |   Comment #2
This is not a promotional CD. You can add to the 24 month one at any time.
micheleforan   |     |   Comment #3
I just wanted to warn you about Freedom CU. The CDs which are not promotional can be added onto at any time during the life of the CD. But but nowhere do the say that the new money added will earn the same interest rate that the original CD earns. I read all the disclosures and nowhere does it say the added funds will earn the same rate as the original funds. Also I cannot get them to email me an assurance the added funds will earn the same interest. This is understood to be the case at all other financial institutions, but I do not trust Freedom after what they did with my Credit Card cash back (5% till the end of January). If their decision on my cashback is not reversed, I will be writing a long article about this Credit Union.
Anon   |     |   Comment #4
What did the CU do with your 5% cash back credit card? I called them because they mention 5% cash back in the messages you get while waiting to talk to a representative. But then they told me it's only 5% cash back until the end of January!
micheleforan   |     |   Comment #5
To Anon: I will publish all the details if they do not give me the 5% that they owe me. If you register on this site, I could email you privately and tell you what they did. Click Register at the very top right of this website.
deplorable 1
deplorable 1   |     |   Comment #6
You must have got a "targeted" credit card offer as their Visa is only a straight 1% cash back card with no 5% rewards categories. Hopefully you saved all of your documentation of the offer.
micheleforan   |     |   Comment #8
The credit card with 5% cash back was on their web site, but is no longer offered. The 5% back was only good until the end of January. The 5% was on all purchases. They undoubtedly made a big mistake offering this, and most likely will never do so again.
deplorable 1
deplorable 1   |     |   Comment #7
Any new money added into a existing CD would have to earn the same interest rate unless otherwise specified somewhere in the fine print. Maybe this is just a assumption on my part but I have never had a add-on Cd that didn't match the original terms of the CD.
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...

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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.

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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.

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