Hanscom Federal Credit Union Short-Term CD Rates Shoot To New Heights

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Deal Summary: 6-11 month CD, 4.25% APY, $1k minimum deposit

Availability: Easy membership requirement; active and retired military; federal employees in Massachusetts; 250+ SEGs.

Special Offer, Special Rate, Limited Time

Massachusetts-based Hanscom Federal Credit Union (Hanscom FCU) has hiked the rates on its 3-5 month CD and 6-11 month CD, with both offering 4.25% APY. Since early September, a total of 400 bps and 380 bps have been added to the 3-5 month CD and 6-11 month CD, respectively. As noted above, Hanscom FCU's promo page identifies these Share Certificates as Specials that will be available for a limited time. The minimum opening deposit is $1k, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.25%$1k-Hanscom Federal Credit Union6 to 11 Month CD Special
Rates as of December 1, 2022.

As stated in the Disclosure for Personal Accounts booklet (page 22), the Early Withdrawal Penalty reads as follows:

If your account has an original maturity one year or less: The penalty we may
impose will equal 90 days dividends on the amount withdrawn subject to penalty

Funding and Other Particulars

  • Funding – ACH, wire, check, or internal transfer.
  • CO-OP Shared Branch Network – Yes.
  • Maturing Funds – Wire ($20 fee), cashier’s check, or internal transfer to a Share Savings account.
  • Dividends – compounded/credited monthly and can be withdrawn throughout during the term without penalty.
  • Grace Period – 10 calendar days before automatic renewal.
  • Beneficiaries – unlimited, equal shares, Social Security numbers required.

Availability

Headquartered at Hanscom ABF, Massachusetts, Hanscom Federal Credit Union’s field of membership (FOM) allows almost any U.S. citizen or resident alien to join:

Easy Membership: Anyone who joins or is an active member in one of Hanscom FCU’s sponsoring member organizations qualifies for Hanscom FCU membership: Nashua River Watershed Association ($35 fee), Air Force Association, Paul Revere Chapter ($20 intro rate fee), or the Burlington Players (Massachusetts). The first option on the membership application reads, “I am a member of or will be joining a sponsoring member organization.”

Military Relationship: All active duty and retired military members are eligible to join.

Government Employment: All active and retired Federal Government employees in Massachusetts qualify for membership.

Select Employee Groups: Employees of more than 250 Select Employee Groups are eligible to join. A complete list is available on the first page of the online application.

Relationship: Immediate family members (spouse, domestic partner, child, sibling, parent, grandparent, grandchild, including step- and adoptive relationships) of current members are welcome to apply.

Joining Hanscom FCU and/or opening a CD can be done online or at any of 20 Massachusetts branches* located in Bedford (2), Beverly, Boston (6), Brockton, Burlington, Cambridge, Concord, Devens, Hanscom AFB, Jamaica Plain, Littleton, Natick, North Billerica, and West Roxbury. Hanscom FCU also has a restricted-access branch in McLean, Virginia.

*Note: More than half of the branches are located in Federal Government buildings and have restricted access.

Visitors must have a valid picture ID and are required to submit to a security screening process.

Opening a Primary Share Savings account with a $25 minimum deposit establishes a Hanscom FCU membership.

Hanscom FCU participates in both the CO-OP Shared Branch network and ATM network.

Credit Union Overview

Hanscom Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 1.89% (excellent) based on June 30, 2022 data. In the past year, Hanscom FCU has increased its total non-brokered deposits by $93.11 million, an excellent annual growth rate of 5.97%. Please refer to our financial overview of Hanscom Federal Credit Union (NCUA Charter # 9095) for more details.

Founded in 1953, Hanscom Federal Credit Union’s original FOM was exclusive to the employees of the Air Force Research Lab in Cambridge, Massachusetts. In addition to organic growth and FOM expansion, Hanscom FCU merged with Milestone FCU (2006), North Shore Manufacturers Federal Credit Union (2013), and Touchstone Federal Credit Union (2017). Currently Massachusetts’s sixth largest credit, Hanscom FCU has more than 93,000 members and assets in excess of $1.8 billion.

How the 6-11 Month CD Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that available nationally and have minimum deposit requirements of $10k or less, one bank and one credit union have higher rates than currently offered on the Hanscom Federal Credit Union 6-11 Month CD. The following table compares the 6-11 Month CD to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

APYCD Term (Early Withdrawal Penalty)Credit Union/Bank
5.00%7-Month Inflation Buster Share Certificate Special (EWP=90 days)Andrews Federal Credit Union
4.51%9-Month CD (EWP=unknown)Brilliant Bank
4.25%6-11 Month CD (EWP=90 days)Hanscom Federal Credit Union
4.25%3-5 Month CD (EWP=90 days)Hanscom Federal Credit Union
4.05%9-Month CD Special (EWP=unknown)First Capital Bank
4.00%9-Month Share Certificate Special (EWP=182 days)NASA Federal Credit Union

The above information and rates are accurate as of 11/14/2022.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Boston CD rates, Washington CD rates, 1-year CD rates, nationwide deals

Comments
dudeFromMass
  |     |   Comment #1
What am I missing.
Fidelity Investments is offering FDCI insured CDs
6 month CDs at 4.55% APY
9 month CD at 4.60 APY

What am I missing? Why invest at lower rate with Hanscom vs. Brokered CDs at Fidelity?
Mals
  |     |   Comment #2
You are not missing anything, other than lack of liquidity for brokered CDs. But for the short term deals you mentioned you should have no problem holding until maturity. Look at US Treasury yields too. Lately there have been even better yields on TBills
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