Generations Federal Credit Union (Generations FCU) is celebrating 75 years of service with a 24-month CD (1.75% APY). The minimum opening deposit is $1K and there is no maximum balance cap.
The 24-month CD is also available as an IRA (Traditional and Roth) at the same APY, and with the same funding requirements.
As an added bonus, Generations FCU will raise the rate to 2.00% APY, if the following requirements are met within the first 60 days of the CD or IRA term:
- Open a My Checking account with direct deposit
- Enroll in Generations FCU eStatements
- Provide a valid email address
As stated on Generations FCU’s Truth In Savings Disclosure page, the Early Withdrawal Penalty reads as follows:
For all accounts, the amount of the early withdrawal penalty is based on the term of your account. The penalty schedule is as follows:
Terms of 18 and 24 months 180 days’ dividends.
In addition you will be charged a $25.00 Service Fee for all early withdrawals regardless of the term of your account.
Anyone who lives, works, worships, volunteers or attends school in Bexar County (San Antonio), Texas is eligible for membership in Generations Federal Credit Union. In addition, family members of current Generations FCU members are also eligible.
Joining Generations Federal Credit Union and opening a CD can be done online simultaneously or in-person at any of 15 branches in the San Antonio metropolitan area.
Credit Union Overview
Generations Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 7.04% (excellent) based on December 31, 2014 data. In the past year, Generations FCU increased its total deposits by $57.41 Million, an excellent annual growth rate of 14.79%. Please refer to our financial overview of Generations Federal Credit Union for more details.
Founded in 1940 by a group of San Antonio City employees, Generations Federal Credit Union (NCUA Certificate # 4015) is the 24th largest credit union in Texas, and the 5th largest credit union in San Antonio. The original field of membership included employees of the City of San Antonio, the San Antonio Fire Department and the San Antonio Police Department. Generations FCU has been recognized in local, regional, and national forums for innovative, award winning services, including opening a branch in a San Antonio Goodwill Store with the primary purpose to help people who do not typically have access to financial services.
Credit union employees will sit down with Goodwill customers, conduct a one-to-one needs assessment interview and then recommend programs and services that fit their situations. The credit union will also plan financial literacy courses
How the CD Compares
When compared to other similar length-of-term CDs tracked by DepositAccounts.com, that require a similar minimum deposit and are available to Texas residents, Generations Federal Credit Union's 24-month CD, with or without the My Checking account bonus, is a clear leader.
The above rates are accurate as of 3/13/2015.
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.