Granite FCU's 60-Months Certificate APY Jumps


Deal Summary: 60-months Certificate, 3.20% APY, $500 minimum deposit.

Availability: Residents of Salt Lake County, Utah.

I may have to change the name of the 3 for 5 Club because 5-year CD rates are going beyond 3.00% APY. The latest is Granite Credit Union’s (Granite CU) 60-months Certificate (3.20% APY). The minimum deposit is $500, with no stated balance cap.

3.50%$500-Granite Federal Credit Union60 Month CD
Rates as of January 15, 2019.

For most of 2017, the 60-months Certificate APY held at a respectable 2.50% APY. In the past two months, there have been two rates increases adding a total of 70 bps. The same can’t be said for the rest of Granite CU’s CDs rates, which are lagging in the rates race. Utah credit unions have some of the highest long-term (5-year) CD rates, but the shorter-terms have rates that are a lot less competitive when compared to what’s being offered by the internet banks.

As stated on the Rates page, the Early Withdrawal Penalty reads as follows:

The penalty is 365 days of dividends on terms 48 months or more.


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

Joining Granite CU and/or opening a Certificate must 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.

At this time, Granite CU’s online platform is dedicated to account management and bill payment services, including ApplePay.

Credit Union Overview

Granite Credit Union has an overall health grade of "A" at, with a Texas Ratio of 2.96% (excellent) based on September 30, 2017 data. In the past year, Granite CU has increased its total non-brokered deposits by $29.74 million, an excellent annual growth rate of 8.43%. 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 to1935, 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 ninth largest credit union, with more than 31,000 members and assets in excess of $442 million.

How the Certificate Compares

When compared to the 232 similar length-of-term CDs tracked by, which require a similar minimum deposit and are available within the FOM, Granite Credit Union’s 60-months Certificate APY currently ranks first.

The above rates are accurate as of 2/26/2018.

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

Related Pages: Salt Lake City CD rates, 5-year CD rates

Kaight   |     |   Comment #1
I'm liking that we're breaking slightly above 3%, even on this limited basis. Ya gotta start somewhere!
Granite FCU Has Raised 60-Month Certificate Rate
Availability: Residents of Salt Lake County, Utah

Granite Federal Credit Union (Granite FCU) has raised the rate on its 60-month Certificate (2.32% APY). The minimum deposit $500, with no balance cap.

For the past 14 months, the 60-month Certificate's rate held steady at 2.11% APY; this week’s rate increase of 21 basis points has resulted in the highest APY in more than five years.

According to CSR, the Early Withdrawal Penalty is 365 days interest.


Headquartered in Salt Lake City, Granite Federal Credit Union’s field...

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Top Long-Term CD Rates at Granite Credit Union in Utah - Local Only

Granite Credit Union is offering two top long-term CD rates: a 2.77% APY 5-year CD and 3.03% APY 7-year CD. Minimum deposit is $1,000. The rates go down considerably for shorter terms. The CD rates for terms of 2-years and under are not competitive. Minimum deposit is $1,000. These rates are listed in the credit union's CD rates page as of 1/20/2011.

As compared to internet banks on 1/20/2011, the best 5-year CD rate is 2.75% APY at Salem Five and the best 7-year CD rate is 2.70% APY at Discover...

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