Availability:Residents of Quad Cities area (Iowa and Illinois).
IH Mississippi Valley Credit Union (IHMVCU) recently raised the rates on many of its CDs, with the 39-month CD (1.81% APY) and the 60-month CD (2.27% APY) being the most competitive. The minimum opening deposit for all of IHMVCU’s CDs is $500, with no maximum balance cap. Both CDs are available as IRAs (Traditional, Roth, CESA) at the same rates, with the same funding requirements.
According to CSR, the Early Withdrawal Penalty is determined on a case-by-case basis, with the length of term, the amount invested, and the amount withdrawn being the determining factors.
|2.63%||$500||-||IH Mississippi Valley Credit Union||60 Month CD|
|2.63%||$500||-||IH Mississippi Valley Credit Union||60 Month IRA (Traditional, Roth, CESA)|
Membership in IH Mississippi Valley Credit Union is open to U.S. citizens and resident aliens in the Iowa/Illinois Quad Cities (Davenport, Bettendorf, Rock Island, Moline, and East Moline) and the surrounding area (within 50 miles).
Joining IHMVCU and opening a CD can be done online or by visiting any of six Iowa branches located in Bettendorf, Davenport (3), DeWitt, and West Burlington, and nine Illinois branches located in East Moline, Galesburg, Milan, Moline (2), Monmouth, Prophetstown, Rock Island, and Silvis. (IHMVCU’s online application process is time sensitive, so I have not provided a direct link.)
Credit Union Overview
IH Mississippi Valley Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas ratio of 6.02% (excellent) based on June 30, 2014 data. IHMVCU has an above average capitalization level of 9.63%, a result of holding $896.06 Million in assets, with $86.29 Million in equity. Please refer to our financial overview of IH Mississippi Valley Credit Union for more details.
IH Mississippi Valley Credit Union (NCUA Certificate # 60337) was established in 1934 by employees of International Harvester. Headquartered in Moline, IHMVCU is the 6th largest credit union in Illinois, with over 114,000 members and assets in excess of $896 Million.
How the CD Compares
When compared to other similar length-of-term CDs tracked by DepositAccounts.com, that require a similar minimum deposit and available to the Quad Cities area residents, IH Mississippi Valley Credit Union's 39-month CD and 60-month CD are competitive. Of the two, the 39-month CD is obviously the more attractive deal.
The above rates are accurate as of 12/12/2014.
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.