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 (Traditional, Roth, CESA), earning the same tiered APYs with the same funding requirements.
Summer Special 18-Month Certificate
About ten days ago, Interior FCU added a Summer Special 18-month Certificate, earning 2.68% APY ($500 min) and 2.78% APY ($100k min). The 18-month Certificate requires new money, which is defined as “not on deposit with Interior Federal Credit Union at or within 90 days prior to account opening.”
There is a ten-day grace period before the 18-month Certificate renews as a 12-month Certificate.
As stated in the Membership Agreement, the Early Withdrawal Penalty reads as follows:
Terms of 48 months or over – 365 days' dividends
Terms of 12 months to less than 24 months – 90 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.
Thanks to DA reader, JDubs, for his Forum post about Interior FCU.
Headquartered in Washington, D.C., Interior Federal Credit Union has a way for virtually any U.S. resident with valid a Social Security number to join. Interior FCU’s online application lists five different routes to membership:
”I work for or am retired from” (60 organizations named, including several Department of the Interior Bureaus).
”I volunteer for” (40 organizations named).
”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.
”I am an associate/member of” (17 associations named).
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. This page also has a "join now" button that links to the online application.
Joining Interior FCU and/or opening a Share Certificate can also be done at either the Washington, D.C. branch, located in the U.S. Department of the Interior Building, or at the Reston, Virginia branch.
Interior FCU is a member of the CO-OP Shared Branching Network, allowing members to do business free of charge in more than 5,000 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 4.13% (excellent), based on March 31, 2017 data. In the past year, Interior FCU has increased its total non-brokered deposits by $5.7 million, an excellent annual growth rate of 3.76%. 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 more than 14,000 members, Interior FCU is currently the eighth largest credit union headquartered in the District of Columbia, with assets in excess of $189 million.
How the 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 Share Certificate APYs currently rank first and third, 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 18-month Share Certificate APYs currently rank second and fourth, regardless of minimum deposit requirements.
The above rates are accurate as of 7/16/2018.
To searching for the best CD rates, both nationwide and in your state? Please refer to CD Rates Table page.