Gain Federal Credit Union (CA) Unveils 9-Month Summer CD Special


Deal Summary: 9-Month Summer Certificate Special, 2.50% APY ($50k), 2.00% APY ($25k), 1.50% APY ($1k), new money.

Availability: Easy membership requirements for residents of Imperial, Los Angeles, Orange, Riverside, San Bernardino, San Diego, Santa Barbara, and Ventura Counties, California.

One of the “New To Summary” CDs in yesterday’s CD Rates Summary is the 9-Month Summer Certificate Special offered by Gain Federal Credit Union (Gain FCU). Like the majority of Gain FCU Certificates, the 9-month Summer Certificate Special has tiered rates based on three deposit levels: 2.50% APY ($50k), 2.00% APY ($25k), and 1.50% APY ($1k). New money is required and is defined simply as funds not currently on deposit. While this is a limited-time offer, no end-date has been specified; the fine print on the landing page reads, “This offer may end at any time.”

As stated in the Truth In Savings disclosure, the Early Withdrawal Penalty reads,

If the term of the account is one month to less than one year, the member shall forfeit an amount equal to:

a) All accrued, earned, and unearned dividends for 90 days on the amount withdrawn or

b) If a withdrawal or imposed penalty reduces the balance below the required minimum, the account shall be closed and a loss of dividends, as stated above, will be assessed on the entire amount in the account.

Funding can be done by ACH, wire transfer, or check. Maturing funds will be distributed by cashier’s check to the address on file or transferred into a Gain FCU savings or checking account. There is a 7 calendar day grace period before the 9-Month Summer Certificate Special automatically renews as a 12-month Certificate.

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


Headquartered in Burbank City, Gain Federal Credit Union offers membership to U.S. citizens/resident aliens who live in the Southern California counties of Imperial, Los Angeles, Orange, Riverside, Santa Barbara, San Bernardino, San Diego, and Ventura (Zip Codes 90000-93599) by joining either the Friends of the Burbank Public Library or the Burbank Historical Society ($10 donation for either).

Employees/members of several companies and organizations (including the City of Burbank, Burbank Association of Realtors, and FotoKem Film and Video) also qualify for membership.

Immediate family and household members of current Gain FCU members are also welcome to apply.

Complete field of membership (FOM) details are available on the Bank With Us page.

Joining Gain FCU and opening a Summer Certificate Special can be done online, by phone (818.846.1710 or 800.622.3328), or in person at the sole branch located on Magnolia Boulevard in Burbank City. If opening in-branch, an appointment is highly recommended and can be made by calling 818.846.1710.

FYI – the Pacoima branch (Van Nuys Boulevard) was closed at the end of last week and will not be reopening.

Gain FCU’s Membership Application is available as a PDF and can be download to expedite the process.

Open a Basic Saving Account with your $5 deposit and you're an owner of the Credit Union.

Credit Union Overview

Gain Federal Credit Union has an overall health grade of "A" at, with an excellent Texas Ratio of 0.51%, based on March 31, 2022 data. In the past year, Gain FCU has increased its total non-brokered deposits by $21.03 million, an excellent annual growth rate of 5.18%. Please refer to our financial overview of Gain Federal Credit Union (NCUA Charter # 3943) for more details.

Founded in 1940 as Burbank City Employees Federal Credit Union, the original FOM was exclusive to the employees of the City of Burbank. The credit union’s home for the first ten years included a variety of the City of Burbank facilities, with three years in Fire Station #1. It was more than 35 years later before the Credit Union broke ground for its permanent home.

Following expansions of the FOM through a series of mergers, the Gain Federal Credit Union rebrand occurred in May 2018. Gain FCU is one of a handful of credit unions that have recently chosen a verb for a new name. Other verbs already used as a credit union name are “thrive,” “aspire,” “grow,” and “zing.”

How the 9-Month Summer Certificate Special Compares

When compared to similar length-of-term CDs tracked by that are available within the FOM, one credit union has a higher rate than currently offered on the Gain Federal Credit Union 9-month Summer Certificate Special, regardless of minimum deposit requirements. The following table compares the Gain FCU 9-month Certificate Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 8/4/2022.

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

Related Pages: Los Angeles CD rates, 1-year CD rates

Burbank City FCU (CA) Has Very Competitive Long-Term CDs
Availability: Variety of employee groups in Southern California; easy membership requirements for residents of Imperial, Los Angeles, Orange, Riverside, San Bernardino, San Diego, Santa Barbara, and Ventura Counties, California.

In late September, a long-time DA reader from the West Coast told me about a couple competitive long-term CDs being offered by Burbank City Federal Credit Union (Burbank City): 48-month Fixed Rate Share Certificate (2.00% APY), and 60-month Fixed Rate Share Certificate (2.25% APY). As Burbank City makes any rate changes at the beginning of the...

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