Greater Springfield Credit Union (MA) 15-Month CD Earns 2.38% APY


Deal Summary: 15-month CD, 2.38% APY, $1k minimum/$100k maximum deposit.

Availability: Residents of Hampden and Hampshire Counties, Massachusetts.

Greater Springfield Credit Union (GRSCU) is currently offering 2.38% APY on its 15-month CD. The minimum opening deposit is $1k, with a balance cap of $100k. According to CSR, there is no limit on the number of 15-month CDs that can be opened by an individual member.

2.43%$1k$100kGreater Springfield Credit Union15 Month Traditional IRA CD Special
2.43%$1k$100kGreater Springfield Credit Union15 Month Roth IRA CD Special
2.38%$1k$100kGreater Springfield Credit Union15 Month CD
Rates as of January 17, 2020.

The 15-month CD is also available as an IRA (Traditional or Roth), earning the same APY with the same funding requirements.

The APY on the 15-month CD dropped by 15 bps at the end of October, but in the current rate climate, the 2.38% APY is still a competitive rate.

CSR stated that the Early Withdrawal Penalty is three months on the amount withdrawn, with partial withdrawals allowed.

Unlimited beneficiaries can be named, with Social Security numbers required for all beneficiaries.

Massachusetts Share Insurance

In addition to the NCUA insurance, deposits at Greater Springfield CU are also covered by the Massachusetts Share Insurance Corporation.

We also have insurance for deposits that exceed $250,000
through “MSIC”, the Massachusetts Share Insurance Corporation.


Headquartered in Springfield, Massachusetts, Greater Springfield Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, worship, or attend school in the Massachusetts counties of Hampden or Hampshire eligible to join.

Family members of membership-eligible individuals also qualify for membership.

Joining GRSCU and/or opening a CD can be done at either of two Massachusetts branches, which are located in East Longmeadow and Springfield. The Membership Application is also available as a download and can be returned to either branch by fax or by an in-person visit.

A minimum $25 deposit in a Regular Share Savings account is required to established membership.

GRSCU is member of the NYCE (New York Currency Exchange), Money Pass, and SUM ATM networks.

Credit Union Overview

Greater Springfield Credit Union has an overall health grade of "A+" at, with a Texas Ratio of 0.36% (excellent) based on June 30, 2019 data. In the past year, GRSCU has increased its total non-brokered deposits by $2.64 million, an above average annual growth rate of 2.08%. Please refer to our financial overview of Greater Springfield Credit Union (NCUA Charter # 67902) for more details.

Founded in 1927, Greater Springfield Credit Union’s original FOM included municipal employees of the City of Springfield. The FOM has expanded twice, with the residents of Hampden and Hampshire Counties becoming eligible to join in 2001. GRSCU is currently Massachusetts’ 43rd largest credit union, with more than 10,400 members and assets in excess of $173 million.

How the CD Compares

When compared to 178 similar length-of-term CDs tracked by that require a similar minimum deposit and are available within the FOM, Greater Springfield Credit Union's 15-month CD APY currently ranks second.

The above rates are accurate as of 11/11/2019.

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

Related Pages: Springfield CD rates, 1-year CD rates, IRA CD rates


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