Washington-based Horizon Credit Union (Horizon CU) has raised the rates on its 13-month Special Certificate (1.46% APY) and 26-month Special Certificate (1.71% APY). The minimum opening deposit is $1k, with no stated balance cap. According to the fine print on the Rates page, the 26-month Special Certificate requires new money, while the 13-month Special Certificate does not.
The 13-month Special Certificate is a fairly new product, having been added in early March, earning 1.21% APY. The 26-month Special Certificate, on the other hand, has been available for six years, and has experienced 14 rate changes. Last week’s 30 bps increase has resulted in its highest APY.
The fine print on the Rates page states,
Early withdrawals are subject to forfeiture of all dividends earned on share certificates.
This Early Withdrawal Penalty is unique to the Special Certificates.
Headquartered in Spokane Valley, Horizon Credit Union’s field of membership (FOM) 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 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 2.63% (excellent) based on December 31, 2016 data. In the past year, Horizon CU has increased its total non-brokered deposits by $64.06 million, an excellent annual growth rate of 9.01%. 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, Horizon’s assets had reached $2 million, and soon after, a series of charter expansions began. A final name change to Horizon Credit Union took place in 1991, after changing from a Federal to a State chartered credit union. Following mergers with eight other credit unions (located in Washington, Idaho and Montana), Horizon Credit Union has over 68,400 members and assets in excess of $908 million.
How the CD Compares
When compared to the 302 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available to Washington State residents, Horizon Credit Union's 13-month Special Certificate APY ranks second.
When compared to the 288 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available to Washington State residents, Horizon Credit Union's 26-month Special Certificate APY ranks second.
The above rates are accurate as of 4/24/2017.