Heritage Federal Credit Union Adds Competitive 19-Month CD Special


Deal Summary: 19-month CD Special, 5.25% APY, $500 minimum opening deposit.

Availability: 13 Indiana counties, nine Kentucky counties, and five Illinois counties.

About three weeks ago, Indiana-based Heritage Federal Credit Union (Heritage) unveiled a 10-month Certificate Special with a 6.00% APY. As you would expect, that very competitive offering was short-lived, disappearing from the Heritage website in early July. Heritage is currently offering a limited-time 19-month CD Special earning 5.25% APY. While not having a “wow-worthy” rate like the 10-month Certificate Special, the 19-month CD Special APY is nonetheless competitive.

The minimum opening deposit is $500, with no stated balance cap. There is no end-date mentioned on the Heritage website, but the fine print on the landing page does state that “rates, terms, and conditions are subject to change without notice.”

The 19-month Certificate Special is also available as an IRA Certificate Special (Traditional and Roth), earning the same APY with the same deposit requirements.

Early Withdrawal Penalty

As stated on the landing page, the Early Withdrawal Penalty reads as follows:

Early withdrawal penalty equals 180-days dividend on the amount withdrawn.

The penalty will, if necessary, be taken from the principal amount of the deposit.


Headquartered in Newburgh, Indiana, Heritage Federal Credit Union’s field of membership (FOM) includes individuals who live, work, worship, or attend school in any of 13 Indiana counties, nine Kentucky counties, or five Illinois counties.

Indiana counties: Clark, Crawford, Davies, Floyd, Gibson, Harrison, Knox, Perry, Pike, Posey, Spencer, Vanderburgh, or Warrick.

Kentucky counties: Crittenden, Daviess, Hancock, Henderson, Hopkins, McLean, Ohio, Union, or Webster.

Illinois counties: Gallatin, Hardin, Lawrence, Wabash, or White.

Immediate family and household members of a current Heritage member also qualify for membership.

Account Opening

Joining Heritage Federal Credit Union and/or opening 19-month CD Special can be done online, or at any of the 13 Indiana branches located in Boonville, Elberfeld, Evansville (6), Haustadt, Mount Vernon, New Harmony, and Newburgh (2), or two Kentucky branches located in Henderson and Owensboro.

A Primary Share account is required for membership with a minimum balance of $5.

Funding and Other Details

The following information is from the Heritage website and a conversation with CSR.

  • Funding – ACH, wire ($10 fee), check, internal transfer, or Share Branch transaction.
  • CO-OP Shared Branch Participant – Yes.
  • Ownership – Individual, joint, or trust.
  • Dividends – Compounded/credited monthly, but cannot be withdrawn without penalty.
  • Maturing Funds – Cashier’s check to address on file or internal transfer.
  • Beneficiaries – Unlimited, with percentage available; Social Security numbers required.
  • Grace Period – 7 calendar days before automatic renewal as an 18-month CD.
  • Credit Check – ChexSystems, credit check only run when applying for a loan.

Credit Union Overview

Heritage Federal Credit Union has an overall health grade of "B" at DepositAccounts.com, with a Texas Ratio of 2.83% (excellent) based on March 31, 2023 data. In the past year, Heritage’s total non-brokered deposits have been decreased by by -$21.33 million, a below average annual growth rate of -2.62%. Please refer to our financial overview of Heritage Federal Credit Union (NCUA Charter # 16626) for more details.

Heritage Federal Credit Union was established in 1965 and was originally known as Warrick Employees Federal Credit Union. The original FOM included the employees of ALCOA Warrick Operations in Newburgh, Indiana, who first conducted their financial transaction out of the trunk of a car. In 1983, the credit union rebranded as Heritage Federal Credit Union following a charter change. Currently the 14thlargest credit union headquartered in Indiana, Heritage has more than 65,600 members and assets in excess of $931 million.

How the 19-Month CD Special Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com which are available within the FOM and have minimum deposit requirements of $10k or less, one bank and one credit union have higher rates than currently offered on the Heritage Federal Credit Union 19-month CD Special. The following table compares the 19-month CD Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 7/13/2023.

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

Related Pages: Evansville CD rates, 1-year CD rates, IRA CD rates

Heritage Federal Credit Union Unveils 6% APY 10-Month CD Special
Deal Summary: 10-month Certificate Special, 6.00% APY, $500 minimum opening deposit.

Availability: 13 Indiana counties, nine Kentucky counties, and five Illinois counties.

Indiana-based Heritage Federal Credit Union (Heritage) has added a 10-month Certificate Special earning a rate-leading 6.00% APY. This limited-time offer can be opened with a $500 minimum deposit. While there is no end-date mentioned on the Heritage website, the fine print on the landing page does state that “rates, terms, and conditions are subject to change without notice.”

The 10-month Certificate Special...

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Heritage Federal Credit Union Kasasa Cash Nears First Anniversary
Deal Summary: Kasasa Cash Checking, 3.25% APY on qualifying balances up to $50k.

Availability: Residents of Posey, Vanderburgh, or Warrick Counties, Indiana, or Henderson County, Kentucky.

Heritage Federal Credit Union’s (Heritage Federal) Kasasa Cash Checking account is approaching its one-year anniversary, and the initial (and competitive) 3.25% APY on qualifying balances up to $50k is still in effect. Qualifying balances greater than $50k earn 0.50% APY, with non-qualifying balances earning 0.05% APY.

The monthly qualification cycle requirements include,

  • At least 12 debit card purchases (either pin-based...
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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.