In the past month, Gulf Coast Federal Credit Union (GCFCU) has added 205 bps to its 18-month Share Certificate. DA began tracking the 18-month Share Certificate more than eleven years ago and the new 3.50% APY is the highest rate offered by far. The minimum opening deposit is $500, with no stated balance cap.
While GCFCU does offer three IRA Share Certificates, the 18-month term is not available as an IRA.
There is a Truth-In-Savings disclosure available on GCFCU’s website, but it includes no information about Share Certificates. According to CSR, the Early Withdrawal Penalty for terms longer than 12 months is 180 days of dividends, with partial withdrawals allowed.
Dividends are compounded and credited monthly and can be paid out by check or transferred to a GCFCU Share Account.
Headquartered in Corpus Christi, Texas, Gulf Coast Federal Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, worship, or attend school in the Texas counties of Jim Wells, Nueces, and San Patricio eligible to join.
Immediate family members of current GCFCU members also qualify for membership, regardless of where they live or work.
Joining GCFCU and/or opening a Share Certificate must be done at any of four Texas branches located in Alice, Corpus Christi (2), and Portland. A new branch location on Northwest Boulevard/FM 1889 in Calallen is scheduled open soon.
Simply bring in $7.50 to anyone of our convenient branch locations. $5.00 must stay in the share account (savings) at all times to keep the account open and the $2.50 is a one-time membership fee.
While GFCFU launched its new website about three years ago, the online banking platform continues to be limited to account management and bill payment services.
Credit Union Overview
Gulf Coast Federal Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 5.32% (excellent) based on June 30, 2022 data. In the past year, GCFCU has increased its total non-brokered deposits by $941k, an above average annual growth rate of 0.45%. Please refer to our financial overview of Gulf Coast Federal Credit Union (NCUA Charter # 4060) for more details.
Founded in 1940, Gulf Coast Federal Credit Union “transitioned from numerous core groups and now proudly has a community charter.” With more than 16,000 members and assets in excess of $289 million, GCFCU is the 85th largest credit headquartered in Texas.
How the 18-Month Share Certificate Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM and have minimum deposit requirements of $10k or less, one credit union has a higher rate than currently offered on the Gulf Coast Federal Credit Union 18-month Share Certificate. The following table compares the 18-month Share Certificate to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.
The above information and rates are accurate as of 9/6/2022.
To search for the best CD rates, both nationwide and state specific, please refer to our CD rates table page.