Gulf Coast Federal Credit Union (Gulf Coast Federal) is currently offering a 36-month Share Certificate Special earning 2.99% APY. (I have to admit, I was tempted to call it the “almost-3%-CD.”) The 36-month is one of four Share Certificate Specials, but it has the most competitive APY by far. The minimum opening deposit for any of the Share Certificate Specials is $500, with no stated balance cap.
As stated in the Truth-In-Savings disclosure, the Early Withdrawal Penalty reads as follows:
Terms longer than 12 months 180 days' dividends
$150 Checking Bonus
Gulf Coast Federal is currently offering a $150 bonus when opening “your first consumer (non-commercial share draft (checking) account with required $25 minimum.” The $150 bonus is not available to those with existing Gulf Coast Federal 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 Gulf Coast Federal members also qualify for membership, regardless of where they live or work.
Joining Gulf Coast Federal and/or opening a Share Certificate Special must be done at any of three Texas branches located in Alice and Corpus Christi (2). A new branch was recently opened in Portland.
Gulf Coast Federal’s online banking platform is currently 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 26.52% (average) based on December 31, 2017 data. In the past year, Gulf Coast Federal has increased its total non-brokered deposits by 2.39 million, an above average annual growth rate of 1.44%. 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 nearly 12,000 members and assets in excess of $210 million, Gulf Coast Federal 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 Special Compares
When compared to the 218 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit requirements and are available within the FOM, Gulf Coast Federal Credit Union’s 36-month Share Certificate Special APY currently ranks first.
The above rates are accurate as of 5/10/2018.
To search for the best nationwide CD rates and the best CD rates in your state, please refer to our CD Rates Table page.