This is the message at the top of IBM Southeast Employees’ Credit Union’s home page, as of this morning.
All Florida and Georgia branches are open. We understand that many people are still without power and have suffered damage to their properties. The safety of our employees and the safe keeping of our member assets is our top concern. If you have been affected by the hurricane and need financial assistance please call us at (800) 873-5100, or email us at email@example.com.
Members can continue using Online or Mobile Banking to check balances, pay bills, transfer funds, deposit checks (Mobile Banking only), and more.
As always, IBMSECU members also have access to our nationwide network of 60,000 surcharge-free ATMs and 5,500 CO-OP Shared Branches.
Earlier this month, IBM Southeast Employees’ Credit Union (IBMSECU) began offering a promotional rate on its 48-month Certificate (2.25% APY). The minimum deposit is $1k, with a maximum deposit of $250k.
|2.25%||-||$250k||IBM Southeast Employees' Credit Union||48 Month Certificate Promotional|
|2.25%||-||$250k||IBM Southeast Employees' Credit Union||48 Month Promotional IRA (Traditional, Roth, CESA)|
The 48-month Promotional Certificate is also available as an IRA (Traditional, Roth, CESA), earning the same APY and 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 48-month Promotional Certificate is excluded.
The promotional rate is the first rate increase for the 48-month Certificate in about 16 months, with the previous rate an unimpressive 0.90% APY.
Partial principal withdrawals of at least $500, including any accrued dividends on the amount withdrawn, are allowed. As stated in the Membership Disclosure brochure, the Early Withdrawal Penalty reads as follows:
If your account has an original maturity of more than thirty-six (36) months from the date of purchase or renewal:
The penalty on all early and partial withdrawals is equal to three hundred and sixty-five (365) 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: Individuals who live, worship, or attend school in the Florida counties of Broward, Hillsborough, Martin, Palm Beach, Pinellas, 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 household 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 six South Florida branches located in Boca Raton, Delray Beach, Fort Lauderdale, Palm Beach Gardens, Port St. Lucie, and West Palm Beach. 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.
Credit Union Overview
IBM Southeast Employees' Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.98% (excellent) based on June 30, 2017 data. In the past year, IBMSECU has increased its total non-brokered deposits by $144.01 million, an excellent annual growth rate of 17.7%. 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 15th largest credit union headquartered in Florida, with more than 76,200 members and assets in excess of $1.07 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?
Today just happens to be IBMSECU’s 48th anniversary; celebrations with “free giveaways and complimentary cookies” are scheduled at each branch. Happy Birthday, IBMSECU.
How the Promotional Certificate Compares
When compared to the 190 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 48-month Promotional Certificate APY currently shares the top spot with NASA Federal Credit Union’s 49-months Share Certificate Special.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|2.25% APY||48-Month Promotional Certificate||IBM Southeast Employees' Credit Union|
|2.22% APY||48-Month CD||USALLIANCE Financial|
|2.16% APY||48-Months CD||TIAA Direct|
The above rates are accurate as of 9/15/2017.