Jefferson Financial (LA/AL) Boosts All CD Rates, 12-Month, 2.96% APY

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Deal Summary : Share Certificates – 12-month (2.96% APY), 24-month (3.26% APY), 36-month (3.40% APY), 48-month (3.45% APY), and 60-month (3.61% APY), $10k minimum deposit.

Availability: Residents of six Louisiana Parishes and six Alabama counties; employees of nearly 200 SEGs located in 22 Louisiana Parishes.

Last week, Jefferson Financial Federal Credit Union (Jefferson Financial) raised the rates on all of its Share Certificates, adding between 64 and 83 bps. All the Share Certificates have tiered APYs, based on minimum deposits of $10k and $1k. Deposits below $10k earn APYs that are 15-25 bps lower than the APYs listed in the table below.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.61*%$10k-Jefferson Financial Federal Credit Union60 Month Share Certificate
OTHER TIERS: 3.45% $1k - $10k
3.45*%$10k-Jefferson Financial Federal Credit Union48 Month Share Certificate
OTHER TIERS: 3.30% $1k - $10k
3.40*%$10k-Jefferson Financial Federal Credit Union36 Month Share Certificate
OTHER TIERS: 3.25% $1k - $10k
3.26*%$10k-Jefferson Financial Federal Credit Union24 Month Share Certificate
OTHER TIERS: 3.05% $1k - $10k
2.96*%$10k-Jefferson Financial Federal Credit Union12 Month Share Certificate
OTHER TIERS: 2.75% $1k - $10k
Rates as of January 22, 2019.

The Share Certificates are also available as IRAs (Traditional and Roth) earning the same tiered APYs, with the same deposit requirements.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.61*%$10k-Jefferson Financial Federal Credit Union60 Month IRA Certificate (Traditional, Roth)
OTHER TIERS: 3.45% $1k - $10k
3.45*%$10k-Jefferson Financial Federal Credit Union48 Month IRA Certificate (Traditional, Roth)
OTHER TIERS: 3.30% $1k - $10k
3.40*%$10k-Jefferson Financial Federal Credit Union36 Month IRA Certificate (Traditional, Roth)
OTHER TIERS: 3.25% $1k - $10k
3.26*%$10k-Jefferson Financial Federal Credit Union24 Month IRA Certificate (Traditional, Roth)
OTHER TIERS: 3.05% $1k - $10k
2.96*%$10k-Jefferson Financial Federal Credit Union12 Month IRA Certificate (Traditional, Roth)
OTHER TIERS: 2.75% $1k - $10k
Rates as of January 22, 2019.

In the past, the Truth-in-Savings disclosure was available on Jefferson Financial’s website and included the following Early Withdrawal Penalty (EWP).

Terms of longer than 12 months - 90 days’ dividends.

In my search to find the current EWP, I contacted the Call Center and was told that the EWP information was not something they had access to. The CSR said I would have to go into a branch to get the information. I decided to call a branch, but the phone numbers for the branches all go to the Call Center and the Call Center would not transfer me to a branch. Jefferson Financial’s Facebook page has a Chat function, so I started a conversation thinking I would get the answers I needed. While I was able to confirm that the EWP is part of the current Truth-in-Savings Disclosure document, I was told that,

We are only available to provide that information to members with CDs.

My argument that knowing the EWP is an important part of my due diligence when researching a CD wasn't persuasive. I still don’t know what the EWP is.

Availability

Headquartered in Metairie, Louisiana, Jefferson Financial Federal Credit Union has expanded its Field of Membership (FOM) since I last wrote about them two years ago. Following two mergers in 2018, the new FOM is as follows:

Residency: Individuals who live, work, worship, or attend school in the Louisiana Parishes of Cameron, Calcasieu, or Livingston, and portions of Jefferson, Orleans, or St. Tammany are eligible for membership.

As a result of the merger with Alabama-based Riverdale Credit Union, individuals who live, work, worship, or attend school in the Alabama counties of Autauga, Dallas, Chilton, Lowndes, Perry, or Wilcox are also eligible.

Educational Affiliation: Students and staff members of the School Systems of Bossier, Caddo, and East Baton Rouge Parishes are eligible to join. While St. James and St. Charles Parish School System staff members are eligible to join, students are not.

Employment: Employees of nearly 200 SEGs, including Ochsner Health System and the Louisiana Department of Transportation, are eligible for membership. A complete list of SEGs (located in 22 Louisiana Parishes) is available on the Credit Union’s website.

Relationship: Family members of current Jefferson Financial members are also welcome to apply.

Joining and/or opening a Share Certificate with Jefferson Financial can be done online, or at any of 16 Louisiana branches located in Baton Rouge, Denham Springs, Gretna, Harvey, Kenner, Lake Charles (2), Livingston, Luling, Marrero (2), Metairie (4), and New Orleans. There are also two full-service branches in Selma, Alabama.

Credit Union Overview

Jefferson Financial Federal Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 5.63% (excellent) based on September 30, 2018 data. In the past year, Jefferson Financial has increased its total non-brokered deposits by $138.66 million, an excellent annual growth rate of 32.08%. Please refer to our financial overview of Jefferson Financial Federal Credit Union (NCUA Charter # 60738) for more details.

Jefferson Financial Credit Union was established in 1966 as the Jefferson Parish School Board Employees Credit Union, with its headquarters located above a florist shop. The name was changed in 2008 when the Credit Union became the first in Louisiana to receive a residential group common bond designation (all residents of Jefferson Parish). A merger in 2012 with Main Street Financial Credit Union (located outside of Baton Rouge) expanded not only the number of members, but also Jefferson Financial's presence in the state. In 2018, two more mergers occurred: Coastland Credit Union (Metairie, LA) and Riverdale Credit Union (Selma, Alabama). Jefferson Financial currently has more than 55,400 members and assets in excess of $942 million.

How the Share Certificates Compare

When compared to similar length-of-term CDs tracked by DepositAccounts.com, which require a minimum deposit of $10k or less and are available within the FOM, Jefferson Financial Federal Credit Union’s 12-, 24-, 36-, 48-, and 60-Month Share Certificate APYs all currently rank first.

Interest RateCD Length of TermCredit Union/Bank
2.96% APY12-Month Share Certificate ($10k min)Jefferson Financial Federal Credit Union
2.95% APY1-Year Senior Citizen CD ($2.5k min)State Bank of India (IL)
2.89% APYOnline 13-month CD ($500 min)MutualOne Bank
Interest RateCD Length of TermCredit Union/Bank
3.26% APY24-Month Share Certificate ($10k min)Jefferson Financial Credit Union
3.20% APY2-Year Senior Citizen CD ($2.5k min)State Bank of India (IL)
3.15% APY23-month Online CD ($500 min)ConnectOne Bank

Interest RateCD Length of TermCredit Union/Bank
3.40% APY36-Month Share Certificate ($10k min)Jefferson Financial Credit Union
3.35% APY3-Year Term Deposit ($500 min)Mountain America Credit Union
3.25% APY3-Year CD ($500 min)MainStreet Bank
Interest RateCD Length of TermCredit Union/Bank
3.45% APY48-Month Share Certificate ($10k min)Jefferson Financial Credit Union
3.35% APY4-Year Certificate ($500 min)Georgia Banking Company
3.30% APY48-Month CD ($1k min)First Internet Bank
Interest RateCD Length of TermCredit Union/Bank
3.61% APY60-Month Share Certificate ($10k min)Jefferson Financial Credit Union
3.60% APY60+ Month CD Special ($1k min)Northpointe Bank
3.56% APY60-Month Share Certificate ($1k min)United States Senate Federal Credit Union

The above rates are accurate as of 1/8/2019.

To look for the best CD rates, both nationwide and in your state, please refer to our CD Rates Table page.

Related Pages: New Orleans CD rates, Lake Charles CD rates, Montgomery CD rates, Baton Rouge CD rates, 1-year CD rates, 5-year CD rates

Comments
RJM
RJM   |     |   Comment #1
I sent then an email 4+ hours ago asking if there was anyway they could make an exception for me. I live in Jefferson county. But Alabama. Their branches are in Selma and their Alabama counties did not include mine. No response. Probably should have just pretended I worked for one of their employers and see if they required proof. The EWP is not a huge deal on a 1-2 year.
#2 - This comment has been removed for violating our comment policy.
Nothing
Nothing   |     |   Comment #3
Pray about it!
Jefferson Financial CU (LA) Raises Long-Term CD Rates
Availability: Residents of Cameron, Calcasieu, Jefferson, and Livingston Parishes, Louisiana; Employees of 400+ SEGs located in 30 Louisiana Parishes.

Earlier this week, Jefferson Financial Credit Union (Jefferson Financial) raised the rates on its 48-month Share Certificate (2.17% APY) and 60-month Share Certificate (2.38% APY). The minimum deposit to earn these rates is $10k, with deposits below $10k earning APYs of 51 basis points lower.

These are the first rate increases for either Share Certificate in nine months, and are the highest APYs in five years.

Both Share Certificates are also...

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Jefferson Financial CU (LA) Hikes Rates on Long-Term CDs
Availability: Residents of Jefferson Parish, Louisiana; Employees of 400+ SEGs located in 30 Louisiana Parishes.

At the end of last week, Jefferson Financial Credit Union (Jefferson Financial) raised the rates on its 48-month Share Certificate (2.17% APY) and 60-month Share Certificate (2.38% APY).

The minimum deposit to earn these rates is $10k, with deposits below $10k earning APYs of 41 basis points lower.

These are the first rate increases for either Share Certificate in seven months, and are the highest APYs in nearly four years.

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Jefferson Financial CU (LA) Boosts Rates on Long-Term CDs
Availability: Residents of Jefferson Parish, Louisiana; Employees of 400+ SEGs located in 30 Parishes.

In the beginning of August, Jefferson Financial Credit Union (Jefferson Financial) raised the rates on its 48-Month Share Certificate (2.07%) and 60-Month Share Certificate (2.27% APY). This is the first rate increase for either Share Certificate in almost two years.

The minimum opening deposit to earn these APYS is $10K and there is no maximum balance cap.

Deposits below $10K earn a substantially lower APY: 48-Month (1.76% APY) and 60-Month (1.97%).

Both Share Certificates are available...

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Louisiana is one of the states with highest deposit rates, and some of the best CD rates continue to be offered by Jefferson Financial Credit Union. There are two rate tiers, and the top tier only requires a $10,000 minimum deposit. The following are the most competitive share and IRA certificate rates listed at the credit union's share certificates rates page as of 12/7/2012:

  • 2.25% APY 5-year CD and IRA CD
  • 2.00% APY 4-year CD and IRA CD
  • 1.75% APY 3-year CD and IRA CD
  • 1.50% APY 2-year CD and IRA CD
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Top CD Rates in Louisiana - Jefferson Financial & Other Credit Unions - Local Only

Louisiana is one of the states with top deposit rates, and some of the best CD rates are being offered by Jefferson Financial Credit Union. There are two rate tiers, and the top tier only requires a $10K minimum deposit. In this top tier, the most competitive CDs include a 3.00% APY 5-year CD, 2.25% APY 2-year CD and a 1.75% APY 1-year CD. Rates are 25 basis points lower for a $1K minimum. These rates are listed at the credit union's CD rate tables as of 7/19/2011.

Membership is open...

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