Texas-based InTouch Credit Union (ITCU) is currently offering a 15-month Jumbo Certificate that earns 2.25% APY on deposits of $95k+. The “non-Jumbo” version earns 2.00% APY, with a minimum $1k deposit.
|2.25%||$95k||-||InTouch Credit Union||15 Month Jumbo CD|
|2.25%||$95k||-||InTouch Credit Union||15 Month Jumbo IRA|
|2.00%||$1k||$95k||InTouch Credit Union||15 Month CD|
|2.00%||$1k||$95k||InTouch Credit Union||15 Month IRA (Traditional, Roth, CESA)|
The 15-month Certificates were added to the product line about three months ago, with only 5 bps separating the APYs (1.55% and 1.50%). Last week’s rate increase clearly made the Jumbo Certificate the more competitive product.
Both Certificates are available as IRAs (Traditional, Roth, CESA), earning the same APYs with the same funding requirements.
According CSR, the Early Withdrawal Penalty is 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), Northern Virginia (2), and Memphis (1).
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 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 Compares
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, InTouch Credit Union’s 15-month Jumbo Certificate APY currently ranks first, regardless of minimum deposit requirement.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|2.25% APY||15-Month Jumbo Certificate ($95k min)||InTouch Credit Union|
|2.20% APY||18-Month CD ($2.5k min)||Live Oak Bank|
|2.12% APY||19-Month CD ($500)||MutualOne Bank|
|2.00% APY||15-Month Certificate ($1k min)||InTouch Credit Union|
The above rates are accurate as of 1/20/2018.
To look for the best CD rates, both nationwide and in your state, please refer to our CD Rates table page.