Gulf Coast Federal Credit Union (GCFCU) is currently offering 2.95% APY on its 24-month Share Certificate. While the 2.95% APY is described as a “special rate, limited time only,” no end-date has been announced. The minimum opening deposit is $500, with no stated balance cap.
|1.30%||$500||-||Gulf Coast Federal Credit Union||24 Month IRA Share Certificate (Traditional, Roth, CESA)|
|1.25%||$500||-||Gulf Coast Federal Credit Union||24 Month Share Certificate|
The 24-month Share Certificate is also available as an IRA (Traditional, Roth, CESA), but the APY is a "non-special" 1.75%.
While the Truth-In-Savings disclosure is no longer available on GCFCU’s new website, CSR stated partial withdrawals are permitted and the Early Withdrawal Penalty has not changed:
Terms longer than 12 months 180 days' dividends
$150 Checking Bonus
GCFCU’s long-running $150 bonus for opening “your first consumer (non-commercial) share draft (checking) account with the required $25 minimum deposit” is still being offered. The $150 bonus is not available to those with existing GCFCU checking accounts, or those who have closed a checking account in the last twelve months. The bonus will be credited within 60 days of completing the following:
- Establish a qualifying direct deposit of at least $250 within 60 days of account opening, and
- Activate and have at least one signature or PIN debit card purchase within 60 days of account opening.
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.
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 the promised new website has been launched, Gulf Coast Federal’s 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 10.48% (excellent) based on December 31, 2018 data. GCFCU has an above average capitalization level (10.68%), the result of holding $206.52 million in assets with $22.05 million in equity. 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 12,000 members and assets in excess of $206 million, GCFCU is only the 84th largest credit in Texas, but according to an interview in CreditUnionTimes with the Credit Union's President and CEO, Jeremy Garza,
Despite serving in an area ranked in the top 10 for lowest credit scores,
Gulf Coast Federal is one of the fastest-growing credit unions in the nation.
How the Share Certificate Compares
When compared to 221 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Gulf Coast Federal Credit Union’s 24-month Share Certificate APY currently ranks third.
The above rates are accurate as of 6/5/2019.
Searching for the best CD, either nationwide or in your state? Please refer to our CD Rates Table page.