Freedom Federal Credit Union's 42-Month Jumbo CD Has Top Rate


Deal Summary: 42-month Jumbo CD Special, 3.00% APY, $50k minimum deposit.

Availability: Harford County, Maryland

Freedom Federal Credit Union (Freedom FCU) is continuing to promote a series of Certificate Specials with competitive rates. As I noted yesterday, finding a CD with a 3% yield has become more difficult, but they do exist. Of the three Jumbo CD Specials being offered, the 42-month, earning 3.00% APY, has the best rate. The Jumbo CD Specials all require a minimum $50k opening deposit.

4.85%$50k-Freedom Federal Credit Union (MD)25 Month Jumbo CD Special
4.85%$50k-Freedom Federal Credit Union (MD)25 Month Jumbo IRA Special (Traditional, Roth, CESA)
4.35%$50k-Freedom Federal Credit Union (MD)42 Month Jumbo CD Special
4.35%$50k-Freedom Federal Credit Union (MD)42 Month Jumbo IRA Special (Traditional, Roth, CESA)
4.25%$50k-Freedom Federal Credit Union (MD)52 Week Jumbo CD Special
4.25%$50k-Freedom Federal Credit Union (MD)52 Week Jumbo IRA Special (Traditional, Roth, CESA)
Rates as of September 28, 2023.

All the Jumbo CD Specials are also available as IRAs (Traditional, Roth, CESA), earning the same APYs and requiring a $50k minimum opening deposit.

As stated in Freedom FCU’s Truth In Savings document, the Early Withdrawal Penalty (EWP) reads as follows:

For all accounts, the amount of the early withdrawal penalty is based on the term of your account.

Terms of 36 months, 9 months dividends.

Terms of 48 months, 12 months dividends.

CSR stated the EWP for the 42-month Jumbo CD Special is the same as that for a 48-month CD – 12 months of dividends on the amount being withdrawn.


Headquartered in Bel Air, Maryland, Freedom Federal Credit Union’s field of membership (FOM) is primarily residency-based, with individuals who live, work, worship, attend school, or volunteer in Harford County, eligible to join.

Immediate family members of a current Freedom FCU member or a membership-eligible individual also qualify for membership, regardless of where they reside. Freedom FCU’s definition of "immediate family member" is wide: spouse, domestic partner, parent, step-parent, children, step-children, grandparent, step-grandparent, sibling, step-sibling, grandchild, and grandchild."

Joining Freedom FCU can be done online, or in-person at any of five Maryland branches located in Bel Air (2), Forest Hill, Gunpowder, and Havre de Grace. The Gunpowder branch is actually part of the Aberdeen Proving Ground Base, and access is restricted to Base personnel and visitors.

$1 minimum to create your ownership share (Regular Savings and Youth Savings).

Opening a Jumbo CD Special can be done at any of the above-mentioned branch locations. The Jumbo Certificates page has a “Request for Information/Application for a Certificate Special” form, which asks for your name, email address, and Freedom FCU member status.

Credit Union Overview

Freedom Federal Credit Union has an overall health grade of "A" at, with a Texas Ratio of 3.58% (excellent) based on September 30, 2019 data. In the past year, Freedom FCU has increased its total non-brokered deposits by $3.01 million, an above average annual growth rate of 1.09%. Please refer to our financial overview of Freedom Federal Credit Union (NCUA Charter # 8550) for more details.

Freedom Federal Credit Union was established in 1953 as MATCOM Federal Credit Union and originally based in Baltimore. The move to Harford County was in support of the Edgewood Arsenal, which later became part of the Aberdeen Proving Ground. The change to a community charter occurred in 1999, with the name changed to Freedom Federal Credit Union in 2000. Today, Freedom FCU is Maryland’s 21st largest credit union, with more than 31,600 members and assets in excess of $311 million.

How the Jumbo CD Special Compares

When compared to 214 similar length of term CDs tracked by that available to residents of northern Maryland, Freedom Federal Credit Union's 42-month Jumbo CD Special currently ranks first, regardless of minimum deposit.

The above rates are accurate as of 1/18/2020.

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

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

  |     |   Comment #1
there are at least 3 credit unions named Freedom and 2 of them periodically have good rates
Freedom FCU (MD) Offers Very Competitive 52-Week Jumbo CD
Availability: Harford County, Maryland

Last week, Freedom Federal Credit Union (Freedom FCU) raised the rate on its 52-week Jumbo Certificate (1.50% APY). This impressive 115 basis point rise was the first rate increase since October 2012, and the new APY is the highest in the Certificate’s nearly seven-year history.

The minimum opening deposit is $25k, with no balance cap. As stated in Freedom FCU’s Truth In Savings document, the Early Withdrawal Penalty reads as follows:

For all accounts, the amount of the early withdrawal penalty...

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5.00% 55-Month CD at Freedom FCU in Maryland
Freedom Federal Credit Union is offering a special 55-month certificate with a yield of 5.00% APY. Interest rate is 4.91%. Minimum deposit is $1,000. It's also available as an IRA certificate. The special CD is listed on the credit union's front page as of 12/05/08. More details are available in the promotion page (pdf).

Membership is open to those who live, work, worship or attend school in Harford County, Maryland. Please refer to the credit union's Join-Us Page. Membership requires a minimum balance of $5 in the share savings account.

Branches are...

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