Earlier this week, Florida-based Gulf Winds Federal Credit Union (Gulf Winds) added a 19-month CD Special (1.60% APY) to its product line. The minimum deposit is $500, with no balance cap.
The 19-month CD Special is also available as an IRA (Traditional and Roth), earning the same APY and with the same funding requirements.
As stated on Gulf Winds’s Membership Account Disclosure page, the Early Withdrawal Penalty reads as follows:
The penalty imposed will equal 180 days of dividends on the amount
withdrawn on 19, 24, 36, 48 and 60 month term share certificates
Headquartered in Pensacola, Florida, Gulf Winds Federal Credit Union's Field of Membership (FOM) is residency based, with individuals who live, work, worship, or attend school in the Florida Panhandle counties of Escambia, Gadsden, Jefferson, Leon, Santa Rosa, or Wakulla eligible to join.
Residents of Escambia County, Alabama, are also eligible for membership.
Immediate family members of current Gulf Winds members also qualify for membership.
Joining Gulf Winds Federal Credit Union and/or opening a CD can be done at any of 11 Florida branches located in Crawfordville, Gulf Breeze, Milton, Pensacola (5), and Tallahassee (3), or two Alabama branches located in Atmore and Brewton.
While Gulf Winds does have online banking capabilities, it's currently limited to account management and bill payment services.
Credit Union OverviewGulf Winds Federal Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 1.96% (excellent) based on September 30, 2015 data. In the past year, Gulf Winds increased its total deposits by $18.11 Million, an excellent annual growth rate of 3.93%. Please refer to our financial overview of Gulf Winds Federal Credit Union for more details.
Gulf Winds Federal Credit Union (NCUA Charter # 24702) was established in 1954 as the former Chemstrand Employees Credit Union and Monsanto Employees Credit Union, serving the employees of those two well-known chemical companies. The Credit Union’s name was changed to better reflect an expanded FOM that included residents of the Panhandle’s western most counties. A merger in 2012 with the Tallahassee-based SCORE Federal Credit Union added four more Florida counties to the FOM. Today, Gulf Winds has more than 56,500 members and assets in excess of $551 Million.
How the CD Compares
When compared to the 154 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available to Florida, Gulf Winds Federal Credit Union's 19-month CD Special currently ranks first.
The above rates are accurate as of 2/5/2016.
To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.