Washington-based Horizon Credit Union (Horizon CU) has added a limited-time 60-month Special Certificate that can earn 3.04% APY. The minimum opening deposit is $1k, with no stated balance cap.
I say “can earn” because the fine print on the Certificates Rate page states,
Rate shown is available for a limited time only and includes 0.50% APY bump for
members who establish direct deposit to a Horizon Credit Union checking account.
60 month special without bump = 2.53% APY.
Note – The 60-month Special Certificate w/o the rate bump has an APY 10 bps higher than Horizon CU’s 60-month non-special CD, that requires a $100k minimum to earn 2.43% APY.
As stated in the Truth In Savings disclosure, the Early Withdrawal Penalty (unique to Horizon CU’s Special Certificates) reads as follows:
The penalty is forfeiture of all dividends earned
and paid to the account at time of early withdrawal.
26-month Special Certificate
Two months ago, I wrote about Horizon CU’s 26-month Special Certificate. The 2.32% APY is still in effect. Unlike the 60-month Special Certificate, the 26-month does not require a checking relationship, but it does requires new money ($1k minimum) to open.
Horizon CU offers Excess Share Insurance, which provides an additional $250k of coverage beyond the NCUA’s standard $250k coverage.
Headquartered in Spokane Valley, Horizon Credit Union’s field of membership is primarily residency based, with individuals who live, work, or worship in the following locations eligible for membership:
Washington State - all school districts
Idaho Counties - Benewah, Bonner, Boundary, Kootenai, Latah, Lewis, Nez Perce, and Shoshone
Montana Counties - Beaverhead, Broadwater, Deer Lodge, Gallatin, Granite, Jefferson, Lake, Lewis and Clark, Mineral, Missoula, Powell, Ravalli, Sanders, and Silver Bow.
In addition, federal employees living or working in Region One of the United States Forest Service are also eligible for membership.
Joining Horizon Credit Union and/or opening an Special Certificate can be done at any of the 22 branches located in Washington (Colville, Davenport, Deer Park, Ephrata, Liberty Lake, Moses Lake , Spokane  and Spokane Valley ); Idaho (Coeur de Alene, Ponderay, Post Falls, and Sandpoint); and Montana (Butte, Missoula , and Warm Springs).
Credit Union Overview
Horizon Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 2.59% (excellent) based on December 31, 2017 data. In the past year, Horizon CU has increased its total non-brokered deposits by $54.82 million, an excellent annual growth rate of 7.08%. Please refer to our financial overview of Horizon Credit Union (NCUA Charter # 67264) for more details.
Horizon Credit Union was originally founded in 1947 as the Kaiser Employees Federal Credit, serving the employees of Kaiser Aluminum. In 1966, the Credit Union’s assets had reached $2 million, and soon thereafter, a series of charter expansions began. The Horizon Credit Union re-brand happened in 1991, after a change from a federal to a state charter. Following mergers with eight other credit unions (located in Washington, Idaho, and Montana), Horizon Credit Union currently has nearly 71,000 members and assets in excess of $948 million.
How the Special CD Compares
When compared to the 200 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available with the FOM, Horizon Credit Union's 60-month Special CD APY currently ranks first.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|3.04% APY||60-Month Special CD w/direct deposit||Horizon Credit Union|
|3.00% APY||60-Month CD||Utah First Federal Credit Union|
|2.89% APY||60-Month Smart Certificate||United States Senate Federal Credit Union|
The above rates are accurate as of 4/11/2018.
Looking for the best CD rates, both nationwide and in your state? Please refer to our CD Rates Table page.