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 an IRA (Traditional, Roth, CESA), earning the same APY with the same funding requirements.

UPDATE: DA reader, Ginzy, commented, “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.” I did call and the additional deposit feature does not apply to any CD Specials, like the 36-month CD. I told CSR that limitation should be listed in the fine print, or on the promotion page. She told me it was covered with the following statement.

Promotion cannot be combined with other offers.

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

Terms of 12 to 36 months - 180 days of dividends

Many thanks to DA reader, NTPanaccio, for posting this hot deal in the Forum.


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.

Easy Membership Requirement, Maybe

I noticed that one of the SEGs listed is the American Consumer Council (ACC), so I did a Live Chat with the Credit Union to see if the ACC membership was dependent on residency. Here’s a portion of the Live Chat:

Me - I do not live in one of the counties you listed, but I am an ACC member. Can I join?

CSR - As long as you have an Eligibility certificate for ACC you can apply for membership on our website. You will just have to fax us the certificate for review also a photo ID. Our Fax number is 215-612-5939.

It’s possible that Freedom CU may have intended for the ACC option as a way for more Pennsylvania residents to join. If a large number of out-of-state ACC members apply to join, the Credit Union’s management could decide to limit the ACC eligibility based on residency. Caveat emptor.

Joining Freedom CU and/or opening a CD can be done online, or at any of seven full-service Pennsylvania branches, located in Abington, Lansdale, Philadelphia (3), and Warminster (2).

Credit Union Overview

Freedom Credit Union has an overall health grade of "A" at, with a Texas Ratio of 3.24% (excellent) based on September 30, 2017 data. In the past year, Freedom CU has increased its total non-brokered deposits by $33.15 million, an excellent annual growth rate of 5.11%. Please refer to our financial overview of Freedom Credit Union (NCUA Charter # 60275) for more details.

Originally chartered 1934, Freedom Credit Union is currently Pennsylvania’s eleventh largest credit union, with more than 62,800 members and assets in excess of $770 million. Between 2011 and 2014, Freedom CU merged with two Philadelphia area church-based credit unions and assumed Mayfair Credit Union’s members and deposit after a NCUA liquidation.

How the CD Compares

When compared to the 330 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 2/5/2018.

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

TheBombingRange   |     |   Comment #1
If only this were an add-on CD...
Ginzy   |     |   Comment #3
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.
TheBombingRange   |     |   Comment #7
It is on there yes, very interesting. It may only apply to the normal CDs listed and not this special. Also noted a dormant account fee of $10/month, I wonder how long that takes to trigger.
Carpline   |     |   Comment #9
I called and was told additional deposits aren't available for the 36-month CD. :(
Ken Tumin
Ken Tumin   |     |   Comment #10
Thanks for the comments. I've updated the post about additional deposits. Unfortunately, they don't apply to this special.
Anonymous32   |     |   Comment #2
I was just told by CSR that you have to live in one of the five listed counties of PA or know someone who is already a member. ACC membership alone doesn't qualify for membership.
Kaight   |     |   Comment #4
Just when hope for a less restrained policy might have arisen out of their Super Bowl victory. :-(
SYC   |     |   Comment #6
Just got the same reply (ACC certificate via fax for a non-resident) as Ken did via Live Chat.
Adam Schiff
Adam Schiff   |     |   Comment #8
Does one have to be a resident of Pennsylvania or not?
gregk   |     |   Comment #5
3% doesn't look quite so good as it used to.
Buying Opportunity
Buying Opportunity   |     |   Comment #11
They've got the ACC as one of it's SEG's.

So, one would think...

Moot point for me anyway.

Don't have anything liquid available.

Time to start eating EWP's on all of those 2% CD's I have out there?

Forget the 3% CD's, there's a HUGE BUYING OPPORTUNITY in the stock market these days.
Bozo   |     |   Comment #13
"Forget the 3% CD's, there's a HUGE BUYING OPPORTUNITY in the stock market these days."

Re comment #11, well, perhaps so. But how much do you commit, and at what levels? Do you try to catch a falling knife, or "average down"? Personally, I sold on the way up, so I do have a bit of free cash.

What is your plan?
deplorable 1
deplorable 1   |     |   Comment #12
Last year I would have jumped all over this but I think liquid savings and MMA's will be paying 3% again before this CD matures. Looks like we may get a .5% rate hike this year.
Bozo   |     |   Comment #14
Deplorable 1 (re comment #12), the odds and timing of FED rate increases decreased somewhat today (why I'm unclear), but I'm squarely in the camp of liquidity at this point. For example, my local bank is offering a 13-month IRA CD at 1.5%. I can get 1.45% with VMMXX in my Vanguard IRA. VMMXX tends to increase its yield as the FED raises interest rates. The CD does not.
Anon   |     |   Comment #15
Had a CD maturing two weeks ago and just about pulled the trigger on the Connexius 5 Year and this was posted, hope the sign up goes smooth. Not thrilled about the notification by mail though.
Kaight   |     |   Comment #16
Just inquired. ACC membership apparently does not cut the mustard.
mark1010   |     |   Comment #18
I called today 2/6 and was told ACC membership does qualify for membership. It seems that the answer to the ACC question depends on which CSR answers the phone. I'd hate to go through the hassle of opening an account & being told that ACC alone does not qualify!
Att   |     |   Comment #17
Dollar averaging into the market as it goes down. As one financial guy I like says buy stock when it goes on sale. Was only putting money in the market last year on dips. Also have money on the sides for CDs. Opened a Connexus CD at 3% and an 18 month 2.30% at Live Oak. Still have some 11 month NP CDs sitting at 1.75 % waiting to see what rates will do.
Anon   |     |   Comment #19
Thanks to Ginzy and Ken I was able to open this and everything went smooth with the exception of them telling me that since I was a new member the funds would not be available until the end of next week but the account would be noted that I wanted the special and even if it were no longer offered I can still get it. Had to call back to ask a question and another CSR pushed it through for today. Thanks Guys!
Jason   |     |   Comment #20
Are you a resident of one of the PA counties? Or were you eligible solely based on ACC membership?
Anon   |     |   Comment #21
The ACC, in which they wanted a fax copy
Kaight   |     |   Comment #22
A tip of the cap and most sincere thanks to Ken for this wonderful deal.

Only speed bump I encountered was at first being told, in no uncertain terms, that I was not eligible to join FCU. Called next day and they had altered their policy. Go figure! Anyway, after that it was all smooth sailing, and the customer service was very good. A 3.04% APY, three year deal is the best one on the board right now, IMO. Three years places the maturity just beyond the 1/20/2021 inauguration, following which so much more will be known about America's direction, and I hope about interest rates going forward from there as well.
Lorisk   |     |   Comment #23
I was happy to get this 3% CD as well. They accepted the ACC membership w/o PA residency. Love!
BDr   |     |   Comment #24
Is it a hard credit inquiry or a soft inquiry?
Can you fund the CD with a credit card?
Anon   |     |   Comment #25
Credit Union advised me today that the last day for this deal will be Friday 2/23.
allan   |     |   Comment #26
Did this offer expire or Is it available? (( 36/month IRA/CD apy 3.04% )
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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