Granite Credit Union (UT) Unveils 11-Month CD, 3.05% APY


Deal Summary: 11-month CD, 3.05% APY, $500 minimum deposit

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

Utah-based Granite Credit Union (Granite CU) has just added an 11-month CD, which earns 3.05% APY. The minimum deposit is $500, with no stated balance cap.

3.05%$500-Granite Credit Union11 Month CD
3.05%$500-Granite Credit Union11 Month IRA (Traditional, Roth, SEP)
Rates as of May 26, 2019.

The 11-month CD is also available as an IRA (Traditional, Roth, and SEP), earning the same APY with the same funding requirements.

When I wrote about Granite CU a year ago, Utah credit unions had some of the highest long-term (5-year) CD rates in the country, with shorter-term rates not keeping pace. The situation has reversed, with several Utah credit unions offering very competitive short-term rates, as long-term rates stagnate.

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

Terms of twelve (12) months or less – ninety days (90) 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 a 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.

According to the Membership Application page,

We are developing a new online Membership and Account Application that will be available soon. Please call a member service representative to open an account now. For our online application, please check back in a few weeks.

Credit Union Overview

Granite Credit Union has an overall health grade of "A+" at, with a Texas Ratio of 2.24% (excellent) based on December 31, 2018 data. In the past year, Granite CU has increased its total non-brokered deposits by $22.5 million, an excellent annual growth rate of 5.92%. 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 ninth largest credit union, with nearly 30,000 members and assets in excess of $454 million.

How the CD Compares

When compared to 252 similar length-of-term CDs tracked by, which require a similar minimum deposit and are available within the FOM, Granite Credit Union’s 11-month CD APY currently ranks first.

The above rates are accurate as of 3/12/2019.

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

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.

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...

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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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