Granite Credit Union (UT) Offers 18-Month Alumni CD, 3.00% APY


Deal Summary: 18-month Alumni CD, 3.00% APY, $500 minimum deposit, for members age 55+

Availability: Residents of Salt Lake County and employees of the Granite, Murray and Salt Lake school districts.

Utah-based Granite Credit Union (Granite CU) is offering an 18-month Alumni CD, earning 3.00% APY. The minimum opening deposit is $500, with no stated balance cap. Not all Granite CU members are eligible to open the Alumni CD.

For our members age 55 or better, we offer a special 18 month CD.

The 18-month Alumni CD offers the same rate as the 24-month CD, which is available to all members, regardless of age.

The 18-month Alumni CD is also available as an IRA (Traditional, Roth, and SEP), earning the same APY with the same funding and member age requirements.

As stated in the Truth-in-Savings disclosure, the Early Withdrawal Penalty reads as follows:

Terms of twelve (12) months to forty-eight (48) months – 180 days of dividends.


Headquartered in Salt Lake City, Utah, Granite Credit Union’s field of membership (FOM) is primarily residency-based, with individuals who live, work, worship, or attend school in Salt Lake County eligible to join.

Employees of the Granite, Murray, and Salt Lake school districts also qualify for membership.

Joining Granite CU and/or opening an Alumni CD can be done in-person at any of nine Utah branches, located in Midvale, Riverton, Salt Lake City (2), Sandy (2), South Jordan, Taylorsville, and West Jordan, or by calling 1.888.428.8326.

When I wrote about Granite CU in March, a new online Membership Application was being developed and “would be available soon.” Soon has arrived and joining the Credit Union and opening CDs can now be done online.

Your Granite CU membership requires a $25 deposit in your Regular Shares account. With your membership you will have full access to all the credit union benefits, all while earning dividends on your shares account.

Granite CU is a member of the CO-OP Shared Branching, giving its members access to more than 5,000 shared branches and nearly ATMs throughout the country.

Credit Union Overview

Granite Credit Union has an overall health grade of "A+" at, with a Texas Ratio of 2.04% (excellent) based on March 31, 2019 data. In the past year, Granite CU has increased its total non-brokered deposits by $28.48 million, an excellent annual growth rate of 7.28%. Please refer to our financial overview of Granite Credit Union (NCUA Charter # 24726) for more details.

Granite Credit Union’s roots can be trace back to 1935 when several Granite School District employees met to form the Granite Teachers Credit Union. A NCUA Charter was granted in 1986 and the Credit Union was headed toward growth and expansion of the FOM. The Credit Union switched to a federal charter in 2004 and in 2009 merged with the Salt Lake Schools Credit Union. Granite CU is currently Utah’s tenth largest credit union, with nearly 30,000 members and assets in excess of $474 million.

How the Alumni CD Compares

When compared to 175 similar length-of-term CDs tracked by, which require a similar minimum deposit and are available within the FOM, Granite Credit Union’s 18-month Alumni CD APY currently shares the top spot with Hanscom Federal Credit Union’s 19-month CD Special APY.

The above rates are accurate as of 6/10/2019.

To look for the best CD rates, either nationwide or state-specific, please refer to our CD Rates Table page.

Related Pages: Salt Lake City CD rates, 1-year CD rates


  |     |   Comment #2
A limited membership CU would not indicate rates going up.
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