Earlier this month, Hartford Municipal Employees Federal Credit Union (HMEFCU) introduced a new 18-month Share Certificate Special (2.00% APY) and raised the rate on its 14-month Share Certificate (2.00% APY).
The minimum opening deposit is $1K, with no balance cap. This is a limited time offer, with the rates available through October 31, 2015.
|0.75%||$1k||-||Hartford Municipal Employees Federal Credit Union||14 Month Share Certificate|
|0.75%||$1k||-||Hartford Municipal Employees Federal Credit Union||14 Month IRA Certificate (Traditional, Roth)|
Both Share Certificates (CDs) are available as IRAs (Traditional and Roth), earning the same APYs, with the same funding requirements.
According to CSR, the Early Withdrawal Penalty is formula based, with the amount being withdrawn and the time left until maturity the determinate factors.
Share Money Market
HMEFCU has also raised the rate on its Share Money Market, with deposits of $100K+ currently earning 1.40% APY. The other rates are tiered as follows:
- 0.45% APY – balances of $2.5K+
- 0.50% APY – balances of $20K+
- 0.55% APY – balances of $50K+
|1.40*%||$100k||-||Hartford Municipal Employees Federal Credit Union||Share Money Market|
Hartford Municipal Employees Federal Credit Union membership eligibility is both residency and employment based.
Residency: Individuals who live, work, worship, or attend school in the City of Hartford are eligible to join.
Employment: Employees of the City of Hartford, Hartford Housing Authority, Community Renewal Team, Connecticut Natural Gas, Jumoke Academy, Hispanic Health Council, XL Center, and other SEGs are eligible.
Credit Union Overview
Hartford Municipal Employees Federal Credit Union (NCUA Certificate # 6733) has an overall health grade of "B" at DepositAccounts.com, with a Texas ratio of 16.71% (above average), based on June 30, 2015 data. In the past year, HMEFCU increased its total deposit by $3.7 Million, an excellent annual growth rate of 9.79%. Please refer to our financial overview of Hartford Municipal Employees Federal Credit Union for more details.
Hartford Municipal Employees Federal Credit Union was established in 1950. The field of membership was expanded this past March to include residents of the Greater Hartford area, and a new branch was opened in June to accommodate the expansion. An earlier merger in 2013 with CNG Federal Credit (East Hartford) increased membership by 21%.
How the CDs Compare
When compared to the 264 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available to Connecticut residents, Hartford Municipal Employees Federal Credit Union’s 14-month Share Certificate Special clearly ranks first.
When compared to the 189 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available to Connecticut residents, Hartford Municipal Employees Federal Credit Union’s 18-month Share Certificate Special also ranks first.
The above rates are accurate as of 9/22/2015.
To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.