Jefferson Financial CU (LA) Raises Long-Term CD Rates

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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.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.58*%$10k-Jefferson Financial Credit Union60 Month Share Certificate
2.58*%$10k-Jefferson Financial Credit Union60 Month IRA Certificate (Traditional, Roth)
2.38*%$10k-Jefferson Financial Credit Union48 Month Share Certificate
2.38*%$10k-Jefferson Financial Credit Union48 Month IRA Certificate (Traditional, Roth)
Accounts mentioned in this post. Rates as of January 17, 2017.

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 available as IRAs (Traditional and Roth) earning the same APYs, with the same funding requirements.

As stated on Jefferson Financial’s Truth in Savings Disclosure, the Early Withdrawal Penalty reads as follows:

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

Availability

Headquartered in Metairie, Louisiana, Jefferson Financial Credit Union offers several ways to become a member.

Residency: Individuals who live, work, worship, or attend school the Louisiana Parishes of Cameron, Calcasieu, Jefferson (includes the cities of Metairie, Kenner, and Gretna), and Livingston are eligible for membership.

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 Parish School System staff members are eligible to join, students are not.

Employment: Employees of 400+ SEGs, including Ochsner Health System and the Louisiana Department of Transportation, are eligible for membership. A complete list of SEGs, which includes many companies located in 29 other Louisiana Parishes, is available on the Credit Union’s website.

Relationship: Family members of current Jefferson Financial members may also qualify for membership.

Joining and/or opening a CD with Jefferson Financial can be done online or at any of 13 Louisiana branches located in Baton Rouge, Denham Springs, Gretna, Harvey, Jefferson, Lake Charles (2), Livingston, Marrero (2), and Metairie (3).

Credit Union Overview

Jefferson Financial Credit Union (NCUA Charter # 60738) has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 5.28% (excellent) based on September 30, 2016 data. Please refer to our financial overview of Jefferson Financial Credit Union 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. Today, Jefferson Financial has over 43,300 members in 30 Louisiana Parishes.

How the Share Certificates Compare

When compared to the 198 similar length-of-term CDs tracked by DepositAccounts.com that are available to residents of the New Orleans metro area, Jefferson Financial Credit Union’s 48-Month Share Certificate APY currently ranks first, regardless of minimum deposit.

Interest RateCD Length of TermCredit Union/Bank
2.38% APY48-Month Share Certificate ($10k min)Jefferson Financial Credit Union
2.00% APY49-Month Share Certificate Special ($5k min)NASA Federal Credit Union
1.91% APY4-Year Share Certificate ($5k min)Melrose Credit Union

When compared to the 213 similar length-of-term CDs tracked by DepositAccounts.com that are available to residents of the New Orleans metro area, Jefferson Financial Credit Union’s 48-Month Share Certificate APY currently ranks first, regardless of minimum deposit.

Interest RateCD Length of TermCredit Union/Bank
2.58% APY60-Month Share Certificate ($10k min)Jefferson Financial Credit Union
2.50% APY60-Month Share Certificate ($500 min)XCEL Federal Credit Union
2.32% APY5-Year Share Certificate ($5k min)Melrose Credit Union

The above rates are accurate as of 1/5/2017.

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

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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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Top CD Rates at Jefferson Financial CU in Louisiana - Local Only

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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Expired: 2.75% 6-Month CD, 3.25% 24-Month CD & Other High Rates at Jefferson Financial Credit Union in Louisiana - Local Only
Jefferson Financial Credit Union has some very competitive short-term and mid-term CD and IRA rates. These include a 2.75% APY 6-month CD, a 3.00% APY 12-month CD and a 3.25% APY 24-month CD. Minimum deposit is $10,000. Lower rates are available for a $1,000 minimum. These rates are listed at the credit union's CD rate tables as of 5/21/09.

Membership is open to all Jefferson Parish residents. Also eligible are employees of certain Select Employee Groups. Please refer to the credit union's Membership Eligibility Page for more details. Membership requires a...

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