IH Mississippi Valley CU (IA/IL) Ups Rate On 48-Month CD

POSTED ON BY

Deal Summary: 48-month CD, 2.32% APY, $500 minimum deposit

Availability: Residents of 25 northwest Illinois counties and 17 east Iowa counties.

At the beginning of July, IH Mississippi Valley Credit Union (IHMVCU) raised the rate on its 48-month CD (2.32% APY) by 30 bps. The minimum opening deposit is $500 with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.32%$500-IH Mississippi Valley Credit Union48 Month CD
2.32%$500-IH Mississippi Valley Credit Union48 Month IRA (Traditional, Roth, CESA, SEP)
Accounts mentioned in this post. Rates as of October 21, 2017.

The 48-month CD is also available as an IRA (Traditional, Roth, CESA, SEP), earning the same APY with the same funding requirements.

As stated in the Truth-In-Savings document, the Early Withdrawal Penalty reads as follows:

The amount of the early withdrawal penalty is 120 days dividends
on the amount withdrawn if the certificate term is more than one year.

One thing to note is that the Early Withdrawal Penalty is below average for long-term CDs. This makes the 60-month CD (2.43% APY) a good deal, even though its APY is only 11 bps higher than that of the 48-month CD. You can see the effective yields when the 48- and 60-month CDs are closed early by using our CD Early Withdrawal Penalty Calculator.

Availability

Headquartered in Moline, Illinois, IH Mississippi Valley Credit Union offers membership to U.S. citizens and resident aliens who live or work in the following 25 northwest Illinois counties and 17 east Iowa counties.

Since I last wrote about IHMVCU in September 2016, the field of membership (FOM) has expanded, adding eight Illinois and seven Iowa counties.

Illinois: Bureau, Carroll, DeWitt, Fulton, Hancock, Henderson, Henry, Jo Davies, Knox, LaSalle, Lee, Marshall, McLean, McDonough, Mercer, Ogle, Peoria, Putnam, Rock Island, Schuyler, Stark, Tazewell, Warren, Whiteside, or Woodford County.

Iowa: Benton, Cedar, Clinton, Delaware, Des Moines, Dubuque, Henry, Iowa, Jackson, Johnson, Jones, Lee, Linn, Louisa, Muscatine, Scott, or Washington County.

Joining IHMVCU and/or opening a CD can be done online, or at any of six Iowa branches located in Bettendorf, Davenport (3), DeWitt, and West Burlington, or eleven Illinois branches located in East Moline, Galesburg (2), Kewanee, Milan, Moline (2), Monmouth, Prophetstown, Rock Island, and Silvis.

Credit Union Overview

IH Mississippi Valley Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 5.98% (excellent) based on March 31, 2017 data. In the past year, IHMVCU has increased its total non-brokered deposits by $117.72 million, an excellent annual growth rate of 13.19%. Please refer to our financial overview of IH Mississippi Valley Credit Union (NCUA Charter # 60337) for more details.

IH Mississippi Valley Credit Union was established in 1934 by eight production line employees at International Harvester’s East Moline Works Plant.

Open only three times a day during shift change, employees at the original office (located in the middle of the plant) had to manage over the noise of the steel-wheeled trailers moving over the creosote floors.

After 83 years of growth and expansion, IHMVCU is currently the fifth largest credit union in Illinois, with over 112,600 members and assets in excess of $1.1 billion.

How the CD Compares

When compared to the 205 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available within the FOM, IH Mississippi Valley Credit Union's 48-month CD APY currently ranks first.

The above rates are accurate as of 7/12/2017.

To look for the best CD rates, both nationwide and in your state, please refer to our CD rates table, or our new Rates Map page.

Related Pages: Davenport CD rates, 5-year CD rates

Comments
IH Mississippi Valley CU Debuts Mega Money Market Account
Availability: Residents of 18 northwest Illinois counties and ten southeast Iowa counties.

IH Mississippi Valley Credit Union (IHMVCU) began the month by introducing its tiered-rate Mega Money Market account. The minimum opening deposit is $10k and the rate tiers are as follows:

  • 0.75% APY - $10k+ minimum
  • 0.90% APY - $50k+ minimum
  • 1.06% APY - $100k+ minimum
  • 1.26% APY - $250k+ minimum

Availability

Headquartered in Moline, Illinois, IH Mississippi Valley Credit Union offers membership to U.S. citizens and resident aliens who live and work in the following 18...

Continue Reading
IH Mississippi Valley CU Raises Rates on 39- and 60-month CDs

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...

Continue Reading
Top Long-Term CD Rates at IH Mississippi Valley Credit Union in IL & IA - Local Only

IH Mississippi Valley Credit Union is offering some competitive long-term CD and IRA CD rates. The most competitive is the 5-year term which has a 2.99% APY. Other notable rates include a 2.27% APY 3-year CD and a 2.12% APY 30-month CD. Minimum deposit is $500. An extra 0.10% is added for Jumbo CDs with a $250,000 minimum deposit. Also, an extra 0.10% is added when you have a checking product. These rates are listed in the credit union's rates page as of 10/03/2010.

The credit union also offers a reward...

Continue Reading
4.07% 60-Month CD at IH Mississippi Valley Credit Union in IL & IA - Local Only
Update 1/09/2010: CD rates have fallen. Please check the credit union's website for the latest rates.

IH Mississippi Valley Credit Union is offering some competitive certificate rates. The most competitive is the 60-month term which has a 4.07% APY. Other notable rates include the 2.02% APY 12-month CD, the 2.48% APY 24-month CD and the 3.04% APY 36-month CD. Minimum deposit is $500. An extra 0.25% is added for Jumbo CDs with a $100,000 minimum deposit. Also, an extra 0.10% is added when you have a checking product. Certificates are...

Continue Reading
High-Yield Reward Checking Account at IH Mississippi Valley Credit Union in IL & IA

Update 10/03/10: The top rate has fallen to 3.01% APY.

IH Mississippi Valley CU has a reward checking account called Checking Plus that pays 3.01% APY on balances up to $25,000 (0.25% for above) and refunds ATM fees (up to $25 per month) if the following monthly requirements are met:

  • 12 Visa debit card purchases
  • one incoming ACH or direct deposit
  • receive E-statements

If these are not met, the rate falls to 0.25%. There is no minimum opening deposit, minimum monthly balance or monthly fee.

Membership is open to the Quad City and surrounding area residents....



Continue Reading