Texas-based InTouch Credit Union (ITCU) is currently offering two Jumbo Certificate Specials that require minimum deposits of $95k: 13-month (2.20% APY) and 21-month (2.50% APY). The “non-Jumbo” versions of these two Certificate Specials earn APYs that are 25 bps lower and can be opened with a minimum $1k deposit.
|2.50%||$95k||-||InTouch Credit Union||21 Month Jumbo CD Special|
|2.25%||$1k||-||InTouch Credit Union||21 Month CD Special|
|2.20%||$95k||-||InTouch Credit Union||13 Month Jumbo CD Special|
|1.95%||$1k||-||InTouch Credit Union||13 Month CD Special|
Both the 13- and 21-month Specials were added to the product line during the last week of February. The 15-month Certificate and Jumbo Certificate Specials I wrote about in January are no longer available.
The Certificate Specials are available as IRAs (Traditional, Roth, CESA), earning the same APYs with the same funding requirements.
According CSR, the Early Withdrawal Penalty is a mild three months of interest.
Headquartered in Plano, Texas, InTouch Credit Union’s field of membership (FOM) may seem piecemeal at first glance, but its origins lay with the original Electronic Data Systems (EDS) Employees Federal Credit Union.
The current FOM is detailed in a 15-page document, but the “membership generally includes those who live, work, worship, or attend school within the geographies of each branches as described in our bylaws.” Those branches are located in the Dallas-Fort Worth area (10), Las Vegas (4), northern Detroit suburbs (3), and Northern Virginia (2).
In 2014, ITCU merged with Tennessee-based Hospitality Federal Credit Union (HFCU), establishing a presence in Memphis. HFCU’s FOM was SEG-based, with companies in the hospitality industry making up the majority of SEGs. Due to state regulations, a change to a community FOM was not permitted. Bottom line, the “within the geographies of each branch” membership eligibility does not apply in the Memphis area.
Employees of several SEGs, including EDS and Dr. Pepper Snapple Group, are also eligible to join.
Immediate family members of current ITCU members are welcome to apply.
Joining ITCU and/or opening a Certificate Special can be done online, or by visiting any of the above mentioned branches.
Credit Union Overview
InTouch Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 5.96% (excellent) based on September 30, 2017 data. In the past year, ITCU has increased its total non-brokered deposits by $11.74 million, an above average annual growth rate of 1.71%. Please refer to our financial overview of InTouch Credit Union (NCUA Charter # 68505) for more details.
InTouch Credit Union was established in 1974 as the Electronic Data Systems Employees Federal Credit Union (EDSEFCU). In 2002, EDSEFCU became a Texas state chartered credit union, known as EDS Credit Union. Following a merger with First American Federal Credit Union in 2009, the InTouch Credit Union rebrand occurred. Between 2013 and 2015, ITCU merged in three more credit unions (Dr Pepper Employees FCU, Hospitality FCU, and New Mount Zion CU), becoming the 29th largest credit union in Texas, with more than 92,700 members and assets in excess of $796 million.
How the Jumbo Certificate Specials Compare
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, InTouch Credit Union’s 21-month Jumbo Certificate Special APY currently shares the top spot with Banesco USA’s 24-month CD APY and Kinecta Federal Credit Union’s 2-year Jumbo CD APY.
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, InTouch Credit Union’s 13-month Jumbo Certificate Special APY currently ranks third, regardless of minimum deposit requirement.
The above rates are accurate as of 3/3/2018.
To review the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.