Saginaw Medical Federal Credit Union Offers 60-Month CD, 3.26% APY


Deal Summary: 60-month Share Certificate, 3.26% APY, $500 minimum deposit

Availability: Employees/workers in the Health Care Industry anywhere in the State of Michigan.

Saginaw Medical Federal Credit Union’s (SMFCU) 60-month Share Certificate currently earns 3.26% APY. The minimum opening deposit is $500, with no stated balance cap. Given the recent downward turn in CD rates, I asked CSR if there was any indication of how long the 3.26% APY would be in effect. She stated that if rates are going to be changed, it’s normally at the beginning of the month, but of course, that is no guarantee. Carpe diem.

3.25%$500-Health Advantage Credit Union60 Month CD
3.25%$500-Health Advantage Credit Union60 Month IRA (Traditional, Roth, CESA)
Rates as of May 24, 2024.

The 60-month Share Certificate is also available as an IRA (Traditional, Roth), earning the same APY with the same funding requirements.

Funding a Share Certificate can be done by ACH, wire transfer, or check. Maturing funds can be distributed through a cashier’s check or by ACH (initiated by another financial institution). Another option is to transfer maturing funds into another SMFCU account (checking/savings) and send funds to yourself through SMFCU’s BillPay service, although there is a limit to how much you can send at one time.

As stated in the Rates & Services Charges document, the Early Withdrawal Penalty (applicable to all CDs, regardless of term length) reads as follows:

90 days dividends for withdrawals made before maturity.


Headquartered in Saginaw, Michigan, Saginaw Medical Federal Credit Union’s field of membership (FOM) has recently expanded and now includes all “Employees, independent contractors, or self-employed persons who regularly work in the Health Care Industry in the State of Michigan.”

A list of types of qualified workplaces (hospitals, nursing homes, diagnostic labs, etc.), is available on SMFCU’s website.

Immediate family members or household members of individuals eligible for SMFCU membership are also eligible to join.

Joining SMFCU can be done online or at either of two Michigan branches, both located in Saginaw.

SMFCU’s online application gathers the personal information necessary to join and also asks for,

information to authorize us to initiate a transaction to fund your new account. A minimum balance of $5.00 is required to open a credit union share savings account. There is no membership fee.

After the membership application is approved, SMFCU will contact you to open the products you’re interested in, including a Share Certificate.

SMFCU participates in the CO-OP Shared Branch and ATM Network.

CO-OP's nearly 30,000 ATMs and 5,000+ shared branches means you have more
direct, surcharge-free access to your money than most traditional bank customers do.

Credit Union Overview

Saginaw Medical Federal Credit Union has an overall health grade of "A" at, with a Texas Ratio of 0.79% (excellent) based on March 31, 2019 data. SMFCU has an above average capitalization level (11.94%), the result of holding $137.48 million in assets with $16.42 million in equity. Please refer to our financial overview of Saginaw Medical Federal Credit Union (NCUA Charter # 20007) for more details.

Founded in 1971 as the Saginaw General Hospital Employees Credit Union, the Credit Union rebranded as Saginaw Medical Federal Credit Union in 1975, following the merger with Saginaw Osteopathic Hospital Credit Union. The FOM was limited to health care workers in Saginaw County, but this recently changed, with all healthcare workers in Michigan now eligible to join. With an expanded FOM in place, SMFCU anticipates substantial growth.

How the Share Certificate Compares

When compared to 350 similar length-of-term CDs tracked by that require a similar minimum deposit and are available within the FOM, Saginaw Medical Federal Credit Union’s 60-month Share Certificate APY currently ranks third.

The above rates are accurate as of 6/21/2019.

Searching for the best CD, either nationwide or in your state? Please refer to our CD Rates Table page.

Related Pages: Flint CD rates, 5-year CD rates

  |     |   Comment #2
One drawback of this top rated credit union is that they do a hard credit pull on savings and CD account applications (source: Lorie S. at Saginaw Medical--email communication).
5.00% Reward Checking Account at Saginaw Medical FCU in MI - Local Only
Saginaw Medical FCU is offering a high yield rewards checking account with the following rates and features if certain monthly requirements are met:
  • 5.00% APY on balances up to $25,000
  • 0.50% on all amounts above $25,000
  • 0.50% if requirements are not met (amounts over $10,000)
  • ATM refunds nationwide up to $25 (requires receipts; excludes excess withdrawal fees)
The monthly requirements include:
  • 12 debit card signature-based purchases
  • One direct deposit
  • Enrollment in online banking (PCSmart) with eStatements
Additional features of the account regardless of the monthly requirements include:
  • $50 opening deposit for checking account
  • No minimum balance requirement
  • No monthly service charge
  • No per...

Continue Reading

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.