Interior Federal Credit Union Boosts Long-Term Jumbo CD Rates

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Deal Summary: Jumbo Share Certificates ($100k minimum) – 36-month, 1.01% APY; 48-month, 1.22% APY; and 60-month, 1.27% APY.

Availability: Easy membership requirement

It’s been more than two years since Interior Federal Credit Union (Interior FCU) had any blog-worthy rates to write about. That changed this week, following Interior FCU’s across-the-board rate increases on its Share Certificates and Jumbo Share Certificates. With rate increases ranging between 11-36 bps, Interior FCU’s long-term Share and Jumbo Share Certificates are the newest additions to this week’s CD Rates Summary. (The Share Certificates earn APYs a uniform 5 bps lower and can be opened with a $500 minimum deposit.)

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.94%$100k-Interior Federal Credit Union36 Month Jumbo Share Certificate
2.89%$100k-Interior Federal Credit Union48 Month Jumbo Share Certificate
2.89%$100k-Interior Federal Credit Union60 Month Jumbo Share Certificate
2.84%$500-Interior Federal Credit Union36 Month Share Certificate
2.79%$500-Interior Federal Credit Union48 Month Share Certificate
2.79%$500-Interior Federal Credit Union60 Month Share Certificate
Rates as of June 24, 2022.

The Certificates are also available as IRA Certificates (Traditional, Roth, and CESA), earning the same APYs with the same deposit requirements.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.94%$100k-Interior Federal Credit Union36 Month IRA Jumbo Certificate (Traditional, Roth, CESA)
2.89%$100k-Interior Federal Credit Union48 Month IRA Jumbo Certificate (Traditional, Roth, CESA)
2.89%$100k-Interior Federal Credit Union60 Month IRA Jumbo Certificate (Traditional, Roth, CESA)
2.84%$500-Interior Federal Credit Union36 Month IRA Certificate (Traditional, Roth, CESA)
2.79%$500-Interior Federal Credit Union48 Month IRA Certificate (Traditional, Roth, CESA)
2.79%$500-Interior Federal Credit Union60 Month IRA Certificate (Traditional, Roth, CESA)
Rates as of June 24, 2022.

As stated in the Membership Agreement, the Early Withdrawal Penalty reads as follows:

Terms of 24 months to less than 48 months – 180 days' dividends

Terms of 48 months and over – 365 days' dividends

Funding and Accessing Maturing Funds

Funding a Certificate and accessing maturing funds can be by ACH, wire, or check. According to CSR, there is no dollar limit on ACH transfers.

Availability

Headquartered in Washington, D.C., Interior Federal Credit Union provides virtually all U.S. residents (with valid Social Security numbers) with a way to join. Interior FCU’s online application lists five different routes to membership:

1. ”I work for or am retired from” (60 named organizations, including several Department of the Interior Bureaus).

2. ”I volunteer for” (43 named organizations).

3. ”I am a family member of” (Interior FCU member’s name). “Family member” is defined spouse, children, siblings, parents, grandparents, and grandchildren, with step- and adoptive relationships included.

4. ”I am an associate/member of” (19 named associations).

And finally, #5:

Need another way to join? If you join our partner association, the New Mexico
Wildlife Federation, you are eligible for Credit Union membership. No cost to join.

Interior FCU’s Eligibility page contains a detailed list of the various organizations and associations that provide membership eligibility.

Joining Interior FCU and/or opening a Jumbo Share Certificate can be done online or at either the Washington, D.C. branch, located in the U.S. Department of the Interior Building, or at the Reston, Virginia branch.

Establish your membership and earn competitive dividends with
a Prime Savings account. Open your account with as little as $25.

Interior FCU is a member of the CO-OP Shared Branching Network, allowing members to do transactions free of charge in more than 5,600 credit union branches throughout the United States.

Credit Union Overview

Interior Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.68% (excellent), based on June 30, 2021 data. In the past year, Interior FCU has increased its total non-brokered deposits by $11.85 million, an excellent annual growth rate of 5.56%. Please refer to our financial overview of Interior Federal Credit Union (NCUA Charter # 319) for more details.

Originally established in 1935 as the Department of the Interior Federal Credit Union, the Credit Union opened its doors for business during the Great Depression. At that time, many Department of the Interior employees were unable to get credit at local banks, so the Credit Union was formed to solve that problem. With nearly 20,000 members, Interior FCU is currently the eighth largest credit union headquartered in the District of Columbia, with assets in excess of $252 million.

How the Jumbo Share Certificates Compare

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are nationally available, Interior Federal Credit Union's 60-month Jumbo Share Certificate APY currently ranks second, regardless of minimum deposit requirements.

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are nationally available, Interior Federal Credit Union's 48-month Jumbo Share Certificate APY currently ranks second, regardless of minimum deposit requirements.

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are nationally available, Interior Federal Credit Union's 36-month Jumbo Share Certificate APY currently ranks second, regardless of minimum deposit requirements.

The above information and rates are accurate as of 10/6/2021.

To searching for the best CD rates, both nationwide and in your state? Please refer to CD Rates Table page.

Related Pages: Washington CD rates, 5-year CD rates, nationwide deals

Comments
P_D
  |     |   Comment #1
I want to give a quick shout out to IFCU.

Recently I had several time critical, complicated, extremely large transactions I had to do with them on certain specific days. On the very day I had planned the first and most important transaction I had a complete technology breakdown and my computer was dead.

Thanks to an outstanding individual there, who put in a tremendous effort to devise a workaround, I was able to complete all of the transactions timely with no losses. It was truly above and beyond anything I could have hoped for.
P_D
  |     |   Comment #2
I should also mention that they have a $1.2 million per day limit on outgoing wires, which is not standard.
kcfield
  |     |   Comment #3
PD: Thanks for sharing your positive experience. Once concern is that a reviewer noted that they do a hard credit pull for savings account opening; do you know if that is accurate?
P_D
  |     |   Comment #4
Hi kc,
I consulted my notes from a couple of years ago when I opened my account. They told me there would be a hard pull. I looked at some of my older credit reports to see if I could confirm it was done, but wasn't able to locate it easily. I assume a hard pull was done at the time, but of course this information is a few years old.
kcfield
  |     |   Comment #5
Thanks for checking. I think that would be helpful--as part of Ken's reviews--to include whether the given institution does a hard or soft credit pull. For some, a hard pull may be a non-issue; but for others it may be a deal-breaker.
P_D
  |     |   Comment #6
Agree kc. This is an important part of the decision in many cases. I suggested that some time ago, but I'm not sure if it fits into the editorial discretion model they use here which may be why it hasn't happened.

I have expressed my dissatisfaction with FIs doing hard pulls when a depositor has not requested the extension of any credit multiple times here. I think it is unethical and should be prohibited by regulation. But unfortunately it is part of the process at some FIs.

It's always a points off factor for me, but I make the decision on a case by case basis and build it into the decision model regarding whether or not to open an account at that FI depending on the other factors of the particular deal.
Interior Federal Credit Union Ups 24-Month Jumbo CD To 3.14% APY
Deal Summary: 24-month Jumbo Share Certificate, 3.14% APY, $100k minimum deposit; 24-month Share Certificate, 2.98% APY, $500 minimum deposit.

Availability: Easy membership requirement

At the beginning of the month, Interior Federal Credit Union (Interior FCU) raised the rates on the 24-month Jumbo Share Certificate (3.14% APY) and 24-month Share Certificate (2.98% APY). All of Interior FCU’s CDs have tiered APYs based on $100k and $500 minimums.

The 24-month Certificates are also available as IRAs (Traditional, Roth, and CESA), earning the same APYs with the same funding requirements.

Continue Reading
Interior Federal Credit Union Offers 2.78% APY On 6-Month CD
Deal Summary: 6-month Share Certificate, 2.78% APY, $500 min/$1 million max deposit, new money.

Availability: Easy membership requirement

For a limited time, Interior Federal Credit Union (Interior FCU) is offering a competitive 2.78% APY on its 6-month Share Certificate. Unlike Interior FCU’s other Share Certificates that have tiered APYs ($500 and $100k minimums), the 6-month only requires a $500 minimum deposit of new money to earn the stated APY. New money is defined as funds “not on deposit with Interior Federal Credit Union at or within 90 days...

Continue Reading
Interior Federal Credit Union Boosts 60-Month CD Rate
Deal Summary: 60-month Share Certificate, 3.29% APY ($500) and 3.39% APY ($100k). Summer Special 18-month Certificate, 2.68% APY ($500) and 2.78% APY ($100k), new money.

Availability: Easy membership requirement

Interior Federal Credit Union (Interior FCU) recently raised the rates on its 60-month Share Certificate by 41 bps. The new two-tiered APYs are 3.29% ($500 min) and 3.39% ($100k min). In the past eight months, a total of 122 bps have been added to the 60-month Share Certificate.

Interior FCU’s Share Certificates are also available as IRAs...

Continue Reading
5.83% 7-Month CD at a Washington DC CU (Interior FCU)
Interior FCU has updated its certificate special since my last post. Instead of a 14 month term, it's now a 7 month term. The CD rate remains at 5.83% APY with the same $1K minimum deposit. The standard rates remain very competitive ranging from a 5.27% APY 6-month CD to a 5.72% APY 48-month CD. These are available as a regular CD, a Roth or Traditional IRA CD or a Coverdell CD. You can apply for the regular CD's online.

The field of membership includes all employees and volunteers of the...

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5.83% 14-Month CD at Washington DC CU (Interior FCU)
Interior FCU is having a special rate on a 14-month certificate. The APY is 5.83% (5.70% interest rate). The minimum deposit is $1,000. This is available as a term share certificate or an IRA certificate (Roth, Traditional or Coverdell). In addition to this promo, the credit union has competitive yields on all of its CDs. The 4-year CD has an APY of 5.72%. You can apply online for these.

The field of membership includes all employees and volunteers of the US Department of the Interior which includes the National Park...

Continue Reading


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