IC Federal Credit Union (IC FCU) is currently offering promotional rates on its 6-month CD Special 1.00% APY) and 1-year CD Special (1.25% APY) when opening an Intelligent Checking™ account. (If opened without an Intelligent Checking™ account, the APY on the 6-month CD Special is 0.75% and 1.05% on the 1-year CD Special.)
An IC Intelligent Checking™ Account with a monthly direct deposit is required
to obtain the stated APY during the term of the share certificate of deposit.
The minimum opening deposit for either CD Special is $1k, with no balance cap. The CD Specials are also available as IRAs (Traditional) earning the same APYs, with the same funding requirements and checking relationship.
According to CSR, the Early Withdrawal Penalty on the 6-month CD Special is 45 days interest, and 90 days interest on the 1-year CD Special.
IC FCU’s Intelligent Checking™ currently earns 2.59% APY on qualifying balances up to $15k. Qualifying balances over $15k earn 0.25% APY, with non-qualifying balances earning 0.05% APY.
- At least 12 debit card purchases
- Receive e-statements
- Either a Direct Deposit or one ACH transaction per statement cycle
The Intelligent Checking™ has no monthly fees or minimum balance requirements, but does require an initial deposit of $50 to open the account. ATM fees will be reimbursed up to $5 per statement cycle.
Headquartered in Fitchburg, IC Federal Credit Union’s field of membership is primarily residency based, with individuals who live, work, worship, attend school, or participate in associations headquartered in the Massachusetts counties of Franklin, Hampden, Hampshire, Middlesex, Norfolk, and Worcester, eligible to join. For complete membership details, please refer to IC FCU’s Membership page.
Opening a CD requires an in-person visit to any of the above mentioned branch locations.
Credit Union Overview
IC Federal Credit Union (NCUA Charter # 24250) has an overall health rating of "A" at DepositAccounts.com, with a Texas Ratio of 9.83% (excellent) based on December 31, 2015 data. In the past year, IC FCU has increased its total deposits by $27.52 million, an excellent annual growth rate of 7.89%. Please refer to our financial overview of IC Federal Credit Union for more details.
Chartered in 1928, IC Federal Credit Union’s beginnings can be traced to the basement of the Immaculate Conception Church in Fitchburg. Originally established for the benefit of the Church’s parishioners, the charter was changed in 1986, allowing the field of membership to expand and resulted in its current name, IC Federal Credit Union. (The “IC” now stands for “Intelligent Choice.”) IC FCU is Massachusetts 18th largest credit union, with more than 35,100 members and assets of $526+ million.
How the CDs Compare
When compared to the 310 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available to residents of the greater Boston metropolitan area, IC Federal Credit Union's 6-Month CD Special (with Intelligent Checking™) currently ranks third.
When compared to the 326 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available to residents of the greater Boston metropolitan area, IC Federal Credit Union's 1-Year CD Special (with Intelligent Checking™) currently ranks in the top ten. The following is a sampling of those ten CDs.
The above rates are accurate as of 5/31/2016.