3.00% APY 12-Month CD At Greenwood Credit Union
Rhode Island-based Greenwood Credit Union (Greenwood CU) became an easy membership credit union six months ago. Initially offering a limited nationally available product line, Greenwood CU now offers checking, savings, and money market accounts online, in addition to nine different term-length CDs.
Greenwood CU greatly improved its position in the short-term rates race yesterday by adding 160 bps to its 12-month CD (3.00% APY). The minimum opening deposit is $1k, with no stated balance cap.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 3.00% | $1k | - | Greenwood Credit Union | 12 Month CD | |
| 3.00% | $1k | - | Greenwood Credit Union | 12 Month IRA Certificate (Traditional, Roth, CESA, SEP) |
While all Greenwood CU CDs are available as IRAs (Traditional, Roth, CESA, and SEP), opening an IRA or trust account requires an in-branch visit.
The 60-month CD added 120 bps yesterday, with the 24-month and 30-month CDs making more modest gains.
As stated in the Truth-in Savings document, the Early Withdrawal Penalty for all CDs reads as follows:
If you withdraw any principal before the maturity date, a penalty will be imposed on the amount which you withdrew and charged to your account. The penalty will equal six (6) months dividends which would have been earned on the amount of principal withdrawn.
Share Branching
Greenwood Credit Union is a member of the CO-OP Shared Branching Network, allowing members to do business free of charge in more than 5,000 credit union branches throughout the United States, "just like you were standing in our Warwick, RI branch."
Availability
Headquartered in Warwick, Rhode Island, Greenwood Credit Union’s field of membership (FOM) is “open to everyone,” with “everyone” defined as U.S. citizens and resident aliens, 18 years or older, who have a valid Social Security number. The only requirement is to “open and maintain a Share Account with a minimum of a $5.00 balance.” That’s it – no charitable foundation or association to join.
Joining Greenwood CU and/or opening a CD can be done online, or at the sole Rhode Island branch, located on Post Road in Warwick.
Credit Union Overview
Greenwood Credit Union has an overall health rating of "A" on DepositAccounts.com, with a Texas Ratio of 2.90% (excellent), based on June 30, 2018 data. In the past year, Greenwood CU has increased its total non-brokered deposits by $31.9 million, excellent annual growth rate of 7.97% growth rate. Please refer to our financial overview of Greenwood Credit Union (NCUA Charter # 66594) for more details.
Established in 1948, Greenwood Credit Union’s original FOM included the residents of the City of Warwick. Organic growth and expansion led to the inclusion of Kent County residents, which led to the entire “State of Rhode Island and beyond” being served. “And beyond” refers to the change to an easy membership requirement institution earlier this year, offering membership to virtually everyone in the country. Greenwood CU is currently the third largest credit union in Rhode Island, with nearly 65,000 members and assets in excess of $512 million.
How the CDs Compare
When compared to the similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and nationally available, Greenwood Credit Union’s 12-, 24-, 30-, and 60-month CD APYs currently rank first.
| Interest Rate | CD Length of Term | Credit Union/Bank |
|---|---|---|
| 3.00% APY | 12-Month CD | Greenwood Credit Union |
| 2.75% APY | 14-Month CD Special | Fort Knox Federal Credit Union |
| 2.74% APY | 12-Month Online CD Special | NASB |
| Interest Rate | CD Length of Term | Credit Union/Bank |
|---|---|---|
| 3.15% APY | 24-Month CD | Greenwood Credit Union |
| 3.10% APY | 2-Year CD | KS StateBank |
| 3.00% APY | 2-Year Certificate | Georgia Banking Company |
| Interest Rate | CD Length of Term | Credit Union/Bank |
|---|---|---|
| 3.35 APY | 30-Month CD | Greenwood Credit Union |
| 3.33% APY | 33-Month CD Special | Great Lakes Credit Union |
| 3.25% APY | 41-Month Bump Up CD Special | Veridian Credit Union |
| Interest Rate | CD Length of Term | Credit Union/Bank |
|---|---|---|
| 3.75 APY | 60-Month CD | Greenwood Credit Union |
| 3.51% APY | 60-Month Share Certificate | United States Senate Federal Credit Union |
| 3.50% APY | 5-Year Certificate | Georgia Banking Company |
The above rates are accurate as of 11/6/2018.
Looking for the best CD rates, either nationwide or state specific? Please refer to our CD Rates Table page.
https://www.depositaccounts.com/banks/advancial-cu.html
also restores inclusion. So agree, Comment #2 explanation appears plausible!
Please list Advancial CDs in National rate tables. Thank you.
But you can open up a CD online at the time you open up your credit union membership (online) and they will "hold" it for you while you send them a check. Their registration software allows only up to 100k for a CD, so if you wanted to open up for more than that (say 125k for example), just put 100k on the system (since that's the max it allows) but send a larger check (125k in this example) with a note that it's for a 125k CD. I don't know how "long" they'll hold stuff for you, but when I opened up one they held it for me and I sent them a check and everything was fine (the CD opening date is the date you open it online, even if you send the check in later).
If you want you can call them too to verify this, or ask questions. They're a very small (but nice) credit union (1 branch) and only have about 3 cust service reps that answer the phones, so you'll likely be speaking to the same person/couple of people each time you call.
Note that their ATM/debit card is NOT CoOp and isn't much use for deposits outside of Rhode Island. However, on the plus side, they're part of CoOp Shared Branch, so you can also go into a local shared branch CU to provide funds that way once you've created your savings account.
They're a small CU so you have to keep that in mind, but I have a large CD there, and they're fine and friendly.
if your security questions are answered incorrectly one (1) time your online account is blocked and you must come into the credit union or notify us in writing to have the account unlocked;