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.
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
20-month Bump-Up Jumbo Share Certificate
Interior FCU is also offering a 20-month Bump-Up Jumbo Share Certificate and a 20-month Bump-Up Jumbo IRA Certificate (2.98% APY, $100k minimum).
With a Bump-Up Certificate, you have the chance to
“bump up” your rate when dividends rise during your term!
Should rates go up, the rate on the 20-month Bump-Up Certificate will not increase automatically: it is the responsibility of the member to contact Interior FCU to initiate the bump-up.
Additional funds cannot be added when the bump up option has been exercised.
The Early Withdrawal Penalty reads as follows:
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 long-time DA reader, thowellIII, for the Forum post about this competitive CD. On a personal note, I smile every time I read “thowellIII.”
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” (40 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” (18 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 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.
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 5,000 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 3.25% (excellent), based on March 31, 2019 data. In the past year, Interior FCU has increased its total non-brokered deposits by $16.66 million, an excellent annual growth rate of 10.59%. 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 16,600 members, Interior FCU is currently the eighth largest credit union headquartered in the District of Columbia, with assets in excess of $211 million.
How the Jumbo Share Certificate Compares
When compared to 211 similar length-of-term CDs tracked by DepositAccounts.com that are nationally available, Interior Federal Credit Union's 24-month Jumbo Share Certificate APY currently ranks first, regardless of minimum deposit requirements.
How the Share Certificate Compares
When compared to 198 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are nationally available, Interior Federal Credit Union's 24-month Share Certificate APY currently ranks second.
The above rates are accurate as of 6/19/2019.
To searching for the best CD rates, both nationwide and in your state? Please refer to CD Rates Table page.