Idaho Central Credit Union Ups 60-Month Promo CD Rate

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Deal Summary: 60-month Promo CD, 3.00% APY, $500 minimum deposit, one-time additional deposit in first 60 days,

Availability: Residents of 27 Idaho counties and one Nevada county; members of any Idaho credit union (including CapEd FCU, an easy membership credit union).

The newest member of the “3 for 5” club is Idaho Central Credit Union’s (Idaho Central) 60-month Promo CD (3.00% APY). The minimum deposit is $500, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.00%$500-Idaho Central Credit Union60 Month Promo CD
3.00%$500-Idaho Central Credit Union60 Month Promo IRA (Traditional, Roth, CESA)
Rates as of May 22, 2018.

All of Idaho Central’s CDs are eligible for a “1-time additional deposit in first 60 days,” following the account opening. As one of my colleagues pointed out, “That's a handy feature for those trying to transfer money into the CD. Holds and transfer delays can take time.” According to CSR, there is no limit on the amount you can add to the CD, but there is only one window of opportunity in the first 60 days.

The Promo CD is also offered as an IRA (Traditional, Roth, and CESA), earning the same APY with the same funding requirements.

According to CSR, the Early Withdrawal Penalty for CDs with terms of 12 months or greater is 180 days.

Availability

Headquartered in Chubbuck, Idaho Central Credit Union’s field of membership (FOM) provides a way for almost any Idaho resident to join. U.S. Citizens and Resident Aliens with a valid Social Security number, and who meet any of the following requirements, are eligible for membership.

1) Idaho Central’s online application reads, ”I am a member of a credit union located in Idaho.” Although this is not listed on the Become a Member page, CSR confirmed that any member of any Idaho credit union qualifies for membership in Idaho Central. Coincidentally, Capital Educators Federal Credit Union (headquartered in Meridian, Idaho) is an easy membership requirement credit union through membership in the Idaho CapEd Foundation.

2) Any employee or employer, student, or retiree who resides in, works in, is headquartered in, or is paid from any of the following 36 Idaho counties is eligible:

    Ada, Adams, Bannock, Bear Lake, Bingham, Blaine, Boise, Bonneville, Butte, Camas, Canyon, Caribou, Cassia, Clark, Custer, Elmore, Franklin, Freemont, Gem, Gooding, Jefferson, Jerome, Kootenai, Lemhi, Lincoln, Madison, Minidoka, Oneida, Owyhee, Payette, Power, Shoshone, Teton, Twin Falls, Valley, and Washington.

    Note: The Idaho Panhandle counties of Benewah, Bonner, Boundary, Clearwater, Idaho, Latah, Lewis, Nez Perce are not currently within the FOM.

3) Employees or retirees of the State of Idaho, other public employees or retirees within the State of Idaho.

4) Employees or retirees of any division, subsidiary or branch of the Micron Corporation are eligible.

5) Individuals who reside in, work in or are paid in Jackpot, Nevada, are also eligible.

6) Family members of ICCU-eligible individuals (not current members) qualify for membership.

Joining Idaho Central and/or opening a Promo CD can be done online or in person at any of 34 full-service Idaho branches located in Blackfoot, Boise (6), Burley, Caldwell (2), Chubbuck (2), Coeur D’Alene, Eagle (2), Idaho Falls (4), Kuna, Meridian (6), Nampa (2), Pocatello (2), Post Falls, Rexburg, and Twin Falls (2).

Credit Union Overview

Idaho Central Credit Union, has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.80% (excellent) based on September 30, 2017 data. In the past year, Idaho Central’s increased its total non-brokered deposits by $460.57 million, an excellent annual growth rate of 20.26%. Please refer to our financial overview of Idaho Central Credit Union (NCUA Charter # 63194) for more details.

Idaho Central Credit Union was originally organized in 1940 as a state-chartered credit union for the officers of other Idaho credit unions. At that time, officers were denied membership in the credit unions where they worked! At the end of 1940, Idaho Central had $298.93 in assets and 22 members. Today, after several expansions of membership eligibility, Idaho Central is the largest credit union in Idaho, with nearly 287,500 members and deposits in excess of $2.8 billion.

How the CD Promo Compares

When compared to 191 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available within the FOM, Idaho Central Credit Union’s 60-month Promo CD APY currently shares the top spot with Connexus Credit Union’s 60-month Certificate and Mountain America Credit Union’s 5-year Term Deposit.

The above rates are accurate as of 2/19/2018.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Boise CD rates, Idaho Falls CD rates, Twin Falls CD rates, Spokane CD rates, 5-year CD rates

Comments
gregk
gregk   |     |   Comment #1
Few will qualify for this particular offer, but I wonder in more general terms if 3% has now become the floor (rather than anything special) for attracting funds to medium and longer term CD's (3 to 7 years). I've no substantial immediately investable $$$ at present, but believe if I did would be very wary of even this rate for such a lengthy commitment in light of present trends. Of course, given the topsy-turvy nature of things now, it's rational to worry about quick reversals and fear losing the opportunity for locking in a rate we all craved just a short time ago. But that looks unlikely over the next year or two, and with a bit of good fortune and help from a (hopefully) resolute Fed, 2018 4rth quarter rates on equivalent terms will exceed those of our maturing Northwest & PenFed Certificates, leaving us with a potentially dicey decision of whether to immediately renew, or hope for an even higher peak before everything collapses again.
Dave
Dave   |     |   Comment #2
Nah, if you've got 100K or more looking for a good rate, 3% is just fine. A bird in the hand is worth two in the bush. Keep your money working and forget about what may or may not happen down the road.
gregk
gregk   |     |   Comment #3
That's certainly been a wise paradigm to follow for the last decade, and might still be so now. I wasn't belittling it, but questioning whether 3% for a years long commitment had now become the least acceptable rate rather than the premium gift we've viewed it as until very recently. Still, "forgetting what might happen down the road" doesn't seem like a particularly wise strategy now, given the shifts that seem evident. Keeping one's investable funds working in short duration instruments while seeing how the longer term scene plays out over the coming year strikes me as no longer merely "pie-in-the-sky" thinking. The laddering contingent here will stick with the "tried and true" rigidities which suits their conservative mindset, but I myself will be holding out for higher than 3% rates to come down the road a bit. Everything seems pointing towards that likelihood.
Dave
Dave   |     |   Comment #4
As a 77 year old my experience has been that the money you lose while 'waiting' for higher rates is rarely made up for when rates go up the usual .25 basis points. Rule #1, keep your money earning.
gregk
gregk   |     |   Comment #5
Fair enough. For CD investors it's always a "small-ball" game in any case, where no decision is make-or-break. We're talking about generally small differences whatever we do, so sticking with established habits and long- standing personal strategies whatever the circumstances isn't ill-advised.
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