IBM Southeast Employees Credit Union (IBMSECU) is currently offering an 18-month Promotional Certificate earning 3.00% APY. This limited-time offer can be opened with a $1k minimum deposit and is capped at $250k. Only one 18-month Promotional Certificate per member is allowed.
The 18-month Promotional Certificate is also available as an IRA (Traditional, Roth, CESA), earning the same APY with the same funding requirements.
IBMSECU offers its Diamond and Platinum Rewards Members an additional 5 bps on Certificates with a $25k minimum deposit, but the 18-month Promotional Certificate is excluded from that bonus.
While the Early Withdrawal Penalty (EWP) is included in the Membership Disclosure, the 18-month term length not addressed. According to CSR, the EWP for 24-36 months applies:
The penalty on all early and partial withdrawals is equal to one hundred and eighty (180) days’ dividends, whether earned or not, which may be subtracted from the principal amount.
Headquartered in Delray Beach, Florida, IBM Southeast Employees' Credit Union’s field of membership (FOM) is primarily residency and employment based.
Residency: U.S. citizens and permanent residents who live, worship, or attend school in the Florida counties of Broward, Hillsborough, Martin, Osceola, Palm Beach, Pinellas, Polk, or St. Lucie, or the Georgia counties of Bartow, Cherokee, Clayton, Cobb, DeKalb, Douglas, Forsyth, Fulton, Gwinnett, Henry, Paulding, or Pickins, are eligible to join.
Employment: Employees and retirees of many Member Companies (including IBM and its subsidiaries) are eligible for membership.
Relationship: Immediate family members of current IBMSECU members are also qualify for membership.
Joining IBMSECU and/or opening a Promotional Certificate can be done online or at any of nine South Florida branches located in Boca Raton, Boynton Beach, Delray Beach (2), Fort Lauderdale, Palm Beach Gardens, Port St. Lucie, and West Palm Beach (2). IBMSECU also has nine northwest Georgia branches located in Atlanta (3), Jasper, Kennesaw, Marietta, Morrow, Smyrna, and Roswell. The Membership Application is also available as a download to expedite joining in-branch.
We participate in shared branching with CO-OP, a cooperative effort between credit unions nationwide to assist each other’s members. As a result, you can conduct business on your IBMSECU accounts at other credit unions throughout the country as though you were at your local branch!
Credit Union Overview
IBM Southeast Employees' Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.95% (excellent) based on June 30, 2018 data. In the past year, IBMSECU has increased its total non-brokered deposits by $7.05 million, an above average annual growth rate of 0.74%. Please refer to our financial overview of IBM Southeast Employees' Credit Union (NCUA Charter # 68663) for more details.
IBM Southeast Employees’ Credit Union is currently is the 16th largest credit union headquartered in Florida, with more than 82,000 members and assets in excess of $1.1 billion. IBMSECU was established in 1969 by a group of IBM employees, who each contributed a quarter. To quote IBMSECU’s “About Us” page,
Who would have thought that a set of quarters in 1969
would turn into one of the nation’s largest credit unions?
How the Promotional Certificate Compares
When compared to the 192 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available within the FOM, IBM Southeast Employees' Credit Union’s 18-month Promotional Certificate APY currently ranks second.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|3.04% APY||19-Month Online CD||MutualOne Bank|
|3.00% APY||18-Month Promotional Certificate||IBM Southeast Employees' Credit Union|
|2.85% APY||18-Month Bump-Up CD Special||Veridian Credit Union|
The above rates are accurate as of 10/27/2017.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table.