Freedom Credit Union Continues Great 36-Month CD APY

POSTED ON BY

Deal Summary: CDs – 36-month (4.08% APY) and 30-month (3.82% APY), $500 minimum deposit.

Availability: Easy Membership Requirement for residents of DE, MD, NJ, PA, VA, WV, and DC; residents of five SE Pennsylvania counties; more than 290 SEGs.

I wrote about Pennsylvania-based Freedom Credit Union’s (Freedom CU) limited-time, new money Fall CDs about three weeks ago. As DA readers, hank and johncharles, noted in a Forum post today, the competitive APYs are still available, but the rates now apply to the regular CDs and new money is no longer required. All Freedom CU CDs can be opened with a minimum $500 deposit, with no stated balance cap. Both CDs are offered as Youth CDs (members 25 years and younger) earning the same APYs, but requiring a lower $250 minimum deposit.

The CDs are also offered as IRA CDs (Traditional, Roth, ESA), earning the same APYs with the same deposit requirements.

As stated in the Rate and Fee Schedule page, the Early Withdrawal Penalty reads as follows:

Terms of 12 to 36 months – 180 days of dividends

The amount of the penalty will not exceed dividends earned through the date of withdrawal.

Dividends are compounded and credited monthly. Automatic monthly transfers of credited dividends to a Freedom CU savings/checking account can be scheduled.

Maturing funds are normally distributed by cashier’s check, but can also be transferred to a Freedom CU savings account and then withdrawn by ACH. There is a 10-day grace period before a Promotional CD automatically renews.

Unlimited beneficiaries (equal shares) can be designated, with Social Security numbers required for all named beneficiaries.

A soft pull credit check will be run as part of the application process.

Availability

Headquartered in Warminster, Pennsylvania, Freedom Credit Union’s field of membership (FOM) experienced significant changes four years ago. A nationwide easy membership requirement (EMR) through the American Consumer Council (ACC) was established at the beginning of 2018. By August 2018, the scope of EMR had narrowed, with only residents of Delaware, Maryland, New Jersey, Pennsylvania, Virginia, West Virginia, and the District of Columbia qualifying through ACC membership.

Even though the EMR is not listed on the About Us page, CSR assured me that is still in effect. To join using ACC membership, you must either email ([email protected]) or fax (215.612.5939) your ACC eligibility certificate.

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 nearly 300 participating SEGs.

Joining Freedom CU and/or opening a CD can be done online, or at any of four full-service Pennsylvania “access centers” (branch locations) in Abington, Philadelphia (2), and Warminster.

All Memberships are required to have a Freedom Savings account with a minimum
balance of $5.00 to be a member in good standing with Freedom Credit Union.

Freedom CU participates in both the CO-OP Shared Branch network and the ATM network.

Credit Union Overview

Freedom Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.42% (excellent) based on June 30, 2022 data. Freedom CU an excellent capitalization level (13.01%), the result of holding $1.1 billion in assets with $143.67 million in equity. Please refer to our financial overview of Freedom Credit Union (NCUA Charter # 60275) for more details.

Chartered in 1934, Freedom Credit Union is currently Pennsylvania’s eleventh largest credit union, with nearly 67,000 members and assets in excess of $1.1 billion. 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 36-Month and 30-Month CDs Compare

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available with the FOM and have minimum deposit requirements of $10k or less, no bank or credit union has a higher rate than currently offered on the Freedom Credit Union 36-month CD. The following table compares the 36-month CD to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

APYCD Term (Early Withdrawal Penalty)Credit Union/Bank
4.08%36-Month CD (EWP=180 days)Freedom Credit Union
4.00%30-Month Term Savings CD (EWP=3% of amount withdrawn)Quorum Federal Credit Union
3.82%30-Month CD (EWP=180 days)Freedom Credit Union
3.61%36-Month Certificate (EWP=180 days)Connexus Credit Union
3.56%36-Month Flex Index CD (EWP=180 days)Merchants Bank of Indiana
3.55%3-Year Bread Savings CD (EWP=180 days)Bread Financial

The above information and rates are accurate as of 9/25/2022.

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, IRA CD rates

Comments
deplorable_1
  |     |   Comment #1
Don't worry if you don't qualify for this deal we will be seeing plenty of 4% plus CD rates shortly.
Striker
  |     |   Comment #2
Hope you are right, depolrable_1,
Hopefully after November and December rate increases, this 4.08 % will seem like a low rate !
I took advantage of this offer a few weeks ago. I might wish I hadn't, about 6 months or a year from now. At least - in the meantime, we're earning the 4.08%.
SmittyInTheCity
  |     |   Comment #3
Funny this rate was the norm when I first started investing. Heck, my checking account paid this much. I would tell my other 20-something year old friends, and they were amazed that banks would pay 4% on whatever was in ur bank account. Honestly, it would be nice if Powell could rest around these rates without having to force a recession and killing the rates again. I'm not much of a spender so inflation hasn't hit me too much outside of a bit bigger grocery bill... well, and that kayak I bought was like double what it was 3 years ago, but besides that!... and a few other things... jimmeny crickets and jesus christ superstar... nah, inflation is eating away at my wallet. Some days it makes me ponder whether I should get a job again.
deplorable_1
  |     |   Comment #4
@Smitty: Yeah the kayak inflation is bad for real I have 8 high pressure inflatables for white water/surfing etc. replacing them would drain my savings now. lol Back when I started every bank paid 5% on savings and if you looked around you could find some money markets up to 6.5%. Back then everyone was saying "you won't get rich with savings/CD's/T-bills etc. you have to have mutual funds and stocks"......then a bunch of mutual funds went belly up and we had several stock crashes. When everyone says to buy stocks probably best to head for the exit.
Ratesaver
  |     |   Comment #5
I also got this cd when it first come out. Hay remember the old days when you would walk out of a bank or credit union with a pile of paperwork. well, that's all going away all I got was a cash register receipt for my new cd... I do have other cds with this credit union but for close to a 100 grand you would thing you would get a real cd or something... I did ask and she told my that's it... I went home and got online and it was their and I printed it out to satisfy myself... Time's are changing
Kaight
  |     |   Comment #6
Hmmm. Email just received says it's OK to use funds already on deposit at Freedom to open one of their 4+% three year CD accounts. I wonder if that means they will allow use of funds from an existing CD without charging the EWP.  Could this be possible!?
Ratesaver
  |     |   Comment #7
Hmmm. I also would like to know that same issue. I have been thinking about cashing out of 2cds i have that are lower than I would like.. Ya, if someone or knows make it known... Maybe I will call if I have some time soon. I was waiting (maybe higher rates so to go longer like 5yrs at 450% or :
Freedom Credit Union Has Great But Limited-Time CD Rates
Deal Summary: Promotional CDs – 24-month (3.56% APY), 30-month (3.82% APY), and 36-month (4.08% APY), $500 min/$250k max deposit, new money required.

Availability: Easy Membership Requirement for residents of DE, MD, NJ, PA, VA, WV, and DC; residents of five SE Pennsylvania counties; more than 290 SEGs.

As DA reader, NTPanaccio, noted in a Forum post yesterday, Pennsylvania-based Freedom Credit Union (Freedom CU) is offering three extremely competitive limited-time Fall CD rates.

The 24-month (3.56% APY), 30-month (3.82% APY), and 36-month (4.08% APY) Promotional CDs can be opened with...

Continue Reading
Freedom Credit Union Boosts Long-Term CD Rates To Competitive Levels
Deal Summary: Long-term CDs – 36-month (1.26% APY), 48-month (1.31% APY), and 60-month (1.41%), $500 minimum deposit.

Availability: Easy Membership Requirement for residents of DE, MD, NJ, PA, VA, WV, and DC; residents of five SE Pennsylvania counties; more than 290 SEGs.

Pennsylvania-based Freedom Credit Union (Freedom CU) substantially increased the rates on its long-term CDs this week. With increases of 26 bps, the 36-month (1.26% APY), 48-month (1.31% APY), and 60-month (1.41%) are currently offering competitive rates. The minimum opening deposit is $500, with no...

Continue Reading
Freedom Credit Union Offers Competitive 36- And 30-Month CDs
Deal Summary: 36-month CD (1.50% APY), 30-month CD (1.30% APY), $500 minimum deposit.

Availability: Easy Membership Requirement for residents of DE, MD, NJ, PA, VA, WV, and DC; residents of five SE Pennsylvania counties; more than 290 SEGs.

Pennsylvania-based Freedom Credit Union (Freedom CU) is currently offering competitive rates on its 36-month CD (1.50% APY) and 30-month CD (1.30% APY). The minimum opening deposit is $500, with no stated balance cap. Both CDs are offered as Youth CDs (members 25 years and younger) earning the APYs,...

Continue Reading
Freedom Credit Union Adds 18-Month Promo CD, 3.50% APY
Deal Summary: 18-month Promo CD, 3.50% APY, $500 min/$250k max deposit, new money.

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.

This morning, Pennsylvania-based Freedom Credit Union (Freedom CU) unveiled a new 18-month Promo CD, earning 3.50% APY. This limited-time offering requires a minimum opening deposit of $500 of new money and is capped at $250k. The 18-month Youth Promo CD (members 25 years and younger) earns the same...

Continue Reading
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...

Continue Reading

More Past Offers



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 [email protected] 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.