Since last I wrote about Holy Rosary Credit Union, they have re-branded and are now known as HRCU. At the beginning of this week, HRCU raised the rates on its 10-month Share Certificate (1.25% APY) and 15-month Share Certificate (1.50% APY). The minimum deposit is $500, with no balance cap.
The Share Certificates were both added to HRCU’s product line about seven months ago and this is the first rate increase for either.
Both Share Certificates are available as IRAs (Traditional, Roth, and CESA), earning the same APYs with the same funding requirements.
According to a very helpful CSR, the Early Withdrawal Penalty for Share Certificates with less than a one year term is 90 days interest, and 180 days interest for Share Certificates with terms longer than one year.
Deposits at HRCU are fully insured up to $500,000: at least $250,000 by the NCUA and $250,000 by Excess Share Insurance, the nation’s largest provider of excess share insurance since 1993.
Headquartered in Rochester, New Hampshire, HRCU offers membership to individuals who live, work, attend school, or worship in New Hampshire. Immediate family members of current HRCU members are also eligible to join the Credit Union.
Joining HRCU can be done online or by downloading the Membership Application and returning it to any of four New Hampshire branches located in Dover, Farmington, and Rochester (2). A $5 deposit completes the process.
HRCU has not only rebranded, but has improved its online capabilities, including an online application and the ability to open checking accounts online. As far as Share Certificates are concerned, HRCU’s website states:
An online application is not available at this time; however, one is coming soon.
A Share Certificate can be opened by email, by phone, or by visiting any of the four branch locations listed above.
Credit Union Overview
HRCU has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 5.54% (excellent) based on September 30, 2015 data. In the past year, HRCU increased its total deposits by $13.84 Million, an excellent annual growth rate of 7.44%. Please refer to our financial overview of HRCU for more details.
HRCU was founded in 1962 as the Holy Rosary Credit Union by a small group of parishioners from Holy Rosary Church in Rochester, New Hampshire. This group was formed to provide support and advice to people who otherwise would not have easy access to financial assistance through traditional means. HRCU has grown into a full-service community credit union with 19,600+ members and assets in excess of $217 Million.
How the CDs Compare
When compared to the 159 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available to New Hampshire residents, HRCU’s 10-month CD currently ranks first.
When compared to the 132 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available to New Hampshire residents, HRCU’s 15-month CD currently ranks second.
The above rates are accurate as of 1/29/2016.