Inspire Federal Credit Union (Inspire FCU) recently raised the rates on its 15-month Share Certificate (1.25% APY) and 30-month Share Certificate (1.76% APY). The minimum opening deposit is $500, with a “maximum amount allowable per certificate of $250k, and there is a maximum of one (1) certificate per social security number, per term.”
|1.76%||$500||$250k||Inspire Federal Credit Union||30 Month Share Certificate|
|1.25%||$500||$250k||Inspire Federal Credit Union||15 Month Share Certificate|
Both Share Certificates are also available as IRAs (Traditional, Roth, CESA) earning the same APYs, with the same funding requirements.
According to CSR, the Early Withdrawal Penalty for both Share Certificates is "90 days' dividends."
Note: The subject of finding EWP information has become an increasingly sore-spot for me. I don’t like to rely on a phone conversation with CSR to determine this essential (and often “deal breaking”) piece of data. Inspire FCU has done a good job of providing links to a variety of their documents, disclosures, and schedules, and yet, after reading all of them, I still had to call to find an answer to my question. CSR was very helpful, but as she read the EWP to me, I was doing an eye-roll at the irony: if the EWP exists in a document, include it, rather than a generic statement about how an EWP “may be imposed.” Rant over.
Kasasa Cash Checking
Inspire FCU is promoting its new Kasasa Cash Checking account, which earns 1.51% APY on qualifying balances up to $10k. Qualifying balances over $10k earn 0.25% APY, with non-qualifying balances earning 0.01% APY.
Kasasa Cash Checking Qualification Requirements
- At least 12 debit card purchases.
- At least one Bill Pay, Direct Deposit, or ACH payment.
- Be enrolled in and receive eStatements.
The Kasasa Cash account has no minimum balance requirement, monthly service fee, or minimum opening deposit. Nationwide ATM fees will be reimbursed up to $20 per cycle. There is a limit of one account per Social Security number.
Inspire FCU is also offering a limited-time $25 referral bonus for new Kasasa Cash accounts.
Encourage them to open a Kasasa® Checking Account at Inspire.
If they do, we’ll reward both of you with $25!
Headquartered in Bristol, Pennsylvania, Inspire Federal Credit Union’s field of membership (FOM) is primarily residency based, with U.S. citizens who live, work, worship, or attend school in Bucks County, Pennsylvania eligible for membership.
Immediate family members of current Inspire FCU members are eligible to join, even if they do not live, work, worship, or attend school in Bucks County.
Credit Union Overview
Inspire Federal Credit Union (NCUA Charter #1759) has an overall health grade of "A" at DepositAccounts.com, with an excellent Texas ratio of 2.76%, based on June 30, 2016 data. In the past year, Inspire FCU has increased its total deposits by $19.9 million, an excellent annual growth rate of 24.88%. Please refer to our financial overview of Inspire Federal Credit Union for more details.
Inspire Federal Credit Union was established in 1936 as Bucks First Federal Credit Union, with a FOM focused on local teachers. Now in its 80th year of operation, Inspire FCU is currently Pennsylvania’s 54th largest credit union, with more than 14,000 members and assets in excess of $118 million. In keeping with its educational roots, the Credit Union has become the “#1 Provider of Financial Education” to Bucks County Schools.
How the 30-month Share Certificate Compares
When compared to the 303 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Inspire Federal Credit Union’s 30-month Share Certificate APY currently ranks first.
The above rates are accurate as of 9/23/2016.