Hanscom FCU Has 48-Month Certificate (With Checking)


Deal Summary: 48-month Certificate (2.50% APY), $1k minimum deposit, Premier Checking required.

Availability: Easy Membership Requirement by joining the Nashua River Watershed Association; Active and retired military; Federal employees in Massachusetts; 250+ SEGs.

Hanscom Federal Credit Union (Hanscom FCU) began the month by raising the rate on its 48-month Certificate (2.50% APY). The minimum opening deposit is $1k, with no stated balance cap.

2.50%$1k-Hanscom Federal Credit Union48 Month CD w/ Premier Checking
Accounts mentioned in this post. Rates as of February 19, 2018.

A Premier Checking (0.25% APY, no transactional activity requirement) account is required to open the 48-month Certificate.

0.30%--Hanscom Federal Credit UnionPremier Checking
Accounts mentioned in this post. Rates as of February 19, 2018.

According to the Checking Accounts page, the minimum balance requirement is an,

Average daily balance of $2,000 in checking or
$6,000 in all of your savings and loans with us.

If the minimum balance isn’t met, there is a $9.95 monthly fee, but the balance in the 48-month Certificate does count towards the $6k minimum.

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

If your account has an original maturity of more than one year: The penalty we may
impose will equal 180 days dividends on the amount withdrawn subject to penalty

Higher-Yield Savings

Last week, Hanscom FCU raised the rate on its Higher-Yield Savings (1.00% APY) by 25 basis points, which was the first rate change in four years.

1.25%$25k-Hanscom Federal Credit UnionHigher-Yield Savings
Accounts mentioned in this post. Rates as of February 19, 2018.

The High-Yield Savings requires a minimum $25k to open and earn the stated APY. There is no monthly service fee on the Higher-Yield Savings account and there is one free withdrawal per month. According to the Account Fee Schedule, there is $25 charge for each withdrawal beyond the one free withdrawal.


Headquartered at Hanscom ABF, Massachusetts, Hanscom Federal Credit Union’s field of membership (FOM) provides a way for almost anyone to join:

Easy Membership: Anyone who joins the Nashua River Watershed Association ($35 fee) qualifies for Hanscom FCU membership. (The next to last 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, child, sibling, parent, grandparent, grandchild, including step- and adoptive relationships) of current members qualify for membership.

Joining Hanscom FCU and/or opening a Certificate can be done online or at any of 16 Massachusetts branches* located in Bedford (2), Beverly, Boston (5), Brockton, Burlington, Concord, Devens, Hanscom AFB, Jamaica Plain, Natick, and West Roxbury. Hanscom FCU also has a branch in McLean, Virginia, with restricted access.

*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.

Credit Union Overview

Hanscom Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.45% (excellent) based on December 31, 2016 data. In the past year, Hanscom FCU has increased its total non-brokered deposits by $60.4 million, an excellent annual growth rate of 6.13%. Please refer to our financial overview of Hanscom Federal Credit Union (NCUA Charter # 9095) for more details.

Hanscom Federal Credit Union was founded in 1953, with the original FOM comprised of 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) and North Shore Manufacturers Federal Credit Union (2013) to become Massachusetts’s sixth largest credit. Hanscom FCU currently has over 70,600 members and assets in excess of $1.1 billion.

How the Certificate Compares

When compared to the 158 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available nationally, Hanscom Federal Credit Union's 48-month Certificate APY (promo rate) currently ranks first.

The above rates are accurate as of 4/10/2017.

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

SJH   |     |   Comment #1
Has ANYBODY spoken to ANYONE at Hanscom about adding Beneficiaries and had success? They are completely ignorant of POD's, ITF's and how to add them. I have been emailing them for days, and get the most nonsensical responses. I simply cannot get them to understand that having a POD on an account does not require an attorney. Their ignorance is only second to Mountain America, who's attorney actually told me I needed to get the Charity's written approval to add the Charity to my account. OMG.
NAW   |     |   Comment #2
I have spoken with them about POD's and been told they do not accept POD's. They have instructed me to create a Revocable Living Trust and have account ownership transferred to the trust. The trust then names beneficiaries. Although there may be others who do not accept PODs or TODs (Transfer on Death), Hanscom is the only bank I know which does not accept POD's. I found this very strange.
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