Texas-based InTouch Credit Union (ITCU) has added a 17-month Quick Strike CD earning 2.10% APY. The minimum opening deposit is $1k of new money, which is defined as “funds brought to ITCU from an outside source, not already on deposit at ITCU.” Members who have an existing loan (mortgages, credit cards, personal loan) only need 25% of new funds to open a 17-month Quick Strike CD. No minimum balance is required on the existing loan to qualify for the Quick Strike CD.
The 17-month Quick Strike CD landing page, details the eligibility requirements.
Offer limited to first $2.5 million (cap) in new funds only (minimum $1,000.00 to open) and will end after a limited time but no later than when the cap is reached.
Offer only available to ITCU members.*
Offer is not available for business or IRA certificates.
Total CD purchases limited to one (1) CD and a maximum of $250,000.00 per member account.
*According to CSR, “ITCU members” is defined as those who were ITCU members as of the day the 17-month Quick Strike CD was added to the product line, which was Wednesday, May 11. In other words, if you’re not a member as you read this blog post, you’re not eligible to open a 17-month Quick Strike CD.
CSR pointed out that ITCU is currently offering monthly specials available only to members. By joining ITCU now, you’re guaranteed to be eligible for any upcoming specials. The current membership requirement isn’t unique to ITCU, as a few other credit unions have used it in the recent past. I like to think of it as a loyalty reward for existing members.
According CSR, partial withdrawals are not allowed. An early closure will incur an early withdrawal penalty of 90 days of interest on the total amount.
Funding a CD can be done by ACH, wire transfer, or check. ITCU participates in the CO-OP Shared Branch network, making the transfer of funds relatively easy.
Dividends will be credited monthly and will be deposited into an ITCU checking/savings account, deposited back into the CD Special, or distributed by check.
Maturing funds can be distributed by a check to the address on file or deposited into an ITCU checking/savings account. There is a ten day grace period before the 17-month Quick Strike CD renews as a 12-month CD.
Headquartered in Plano, Texas, InTouch Credit Union’s field of membership (FOM) is community-based and was previously limited to those who lived, worked, worshiped, or attended school within a specific geographic areas (a 50-mile radius) of any ITCU branch.
The FOM has been expanded and now includes individuals who live, work, worship, or attend school in any of the following geographic areas:
Michigan – Genesee, Macomb, Oakland, and Wayne Counties
Nevada – Cities of Enterprise, Henderson, Las Vegas, North Las Vegas, Paradise, Spring Valley, Summerlin South, Sunrise Manor, Whitney, and Winchester.
Texas – Collin, Dallas, Denton, and Tarrant Counties
Virginia – Fairfax and Loudon Counties
ITCU membership is offered to current/retired employees (as well as their family members) of any of the following companies, including their subsidiaries: Caesars/Harrahs, Core Logic, DXC, EDS, First American Financial, Hilton, HP, HPE, HPI, IHG, Keurig Dr Pepper Inc. and Service King.
A $5 minimum deposit in an ITCU Regular Savings Account establishes an ITCU membership.
As stated on the landing page, there are three ways to open a CD Special:
- Call our Member Care team at (800) 337-3328;
- Stop by your local ITCU branch and let our team assist you; or
- Book an appointment online at your local ITCU branch to meet with one of our staff.
ITCU participate in both the CO-OP Shared Branch and ATM networks.
Credit Union Overview
InTouch Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.03% (excellent) based on December 31, 2021 data. In the past year, ITCU has increased its total non-brokered deposits by $70.71 million, an excellent annual growth rate of 9.11%. 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 31st largest credit union in Texas, with more than 91,000 members and assets in excess of $1 billion.
How the 17-Month Quick Strike CD Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM and have minimum deposit requirements of $10k or less, no bank or credit union has a higher rate than currently offered on the InTouch Credit Union 17-month Quick Strike CD. The following table compares the 17-month Quick Strike CD to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.
The above information and rates are accurate as of 5/20/2022.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.