Glass City Federal Credit Union’s (Glass City) 60-Month CD Special earns 3.50% APY. The CD Special requires a minimum of $500 of new money “for the full deposit amount.” New money is defined as “funds not currently held in deposit accounts at Glass City.”
The 60-month CD Special is also offered as an IRA (Traditional, Roth, CESA), earning the same APY but requiring a minimum $1k of new money open. IRA CD interest payments cannot be withdrawn.
As stated in the CD Policy and Disclosure document, the Early Withdrawal Penalty (EWP) reads as follows:
Penalty for early withdrawal for a term of 18 months to 5 years is the forfeiture of
dividends earned since date of issuance or 180-days’ dividends, whichever is smaller.
The IRA CD EWP also states,
The forfeiture of dividends does not apply if the early withdrawal is made
following the member’s disability or attainment of not less than 59 ½ years of age.
Excess Share Insurance
Deposits at Glass City are fully insured up to $500,000: at least $250,000 by the NCUA and $250,000 by Excess Share Insurance, the nation’s largest provider of excess share insurance since 1993.
Members of credit unions using ESI’s excess share insurance can take great comfort in knowing that their savings are safe, and that a portion of their deposits are protected by a well-capitalized credit union-only private insurer.
Headquartered in Maumee, Ohio (near Toledo), Glass City Federal Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, worship, or attend school in the Ohio counties of Fulton, Lucas, Ottawa, or Wood eligible to join.
Immediate family members of eligible individuals “may also be eligible for membership.”
Joining Glass City can be done at any of five Ohio full-service branches located in Bowling Green, Maumee, and Toledo (3). Glass City FCU’s Membership Application is available as a download to expedite the joining process. Membership in Glass City requires a minimum $25 balance in a Primary Share Savings account.
Opening a CD must be at any of the above-mentioned branch locations, as Glass City’s online banking platform, Home Banking, is currently limited to account maintenance and bill payment services.
As a part of the CO-OP Share Branching network, Glass City members has access to more than 5,000 shared branches across the country.
Your credit union travels with you everywhere!
Credit Union Overview
Glass City Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.23% (excellent) based on December 31, 2017 data. In the past year, Glass City increased its total non-brokered deposits by $3.31 million, an above average annual growth rate of 1.78%. Please refer to our financial overview of Glass City Federal Credit Union (NCUA Charter # 5495) for more details.
Established in 1947, Glass City Federal Credit Union is currently one of northwest Ohio’s largest credit unions, with more than 28,000 members and assets in excess of $222 million. The City of Toledo became known as “Glass City” when the New England Glass Works (now Libbey Glass Company) moved from Massachusetts to Ohio in 1888. While the Glass City name might suggest an industry-affiliated FOM, the Credit Union has always maintained a community FOM, although in late 2015 the Libbey (as in Libbey Glass) Federal Credit Union merged with Glass City.
How the CD Special Compares
When compared to 211 similar length-of-term CDs tracked by DepositAccounts.com, with similar minimum deposit requirements that are available in the greater Toledo metropolitan area, Glass City Federal Credit Union’s 60-month CD Special APY currently ranks second.
The above rates are accurate as of 4/11/2019.
To search for the best CD rates, both nationwide and state-specific, please refer to our CD Rates Table page.