Justice Federal Credit Union 60-Month Jumbo CD Earns 3.21% APY
Justice Federal Credit Union (Justice Federal) is currently offering very competitive rates on its 60-month Jumbo Certificate (3.205% APY, $100k min) and 60-month Share Certificate (3.102% APY, $500 min).
These rates include a 10 bps rate increase, predicated on opening and maintaining either a Justice National or Beyond the Badge checking account throughout the term (more detail about that below).
The Certificates are also available as IRAs (Traditional and Roth), earning the same rates with the same funding requirements.
As stated on the Certificates page, the Early Withdrawal Penalty reads as follows:
A certificate with a term of 13 months or more
will lose 180 days of dividends for early withdrawal.
Checking Relationship
As I mentioned earlier, the stated rates include an additional 10 bps for maintaining either a Justice National or Beyond the Badge checking account. The only differences between the two checking accounts is that Beyond the Badge is for individuals 55 years or older and comes with free checks. Both accounts earn 0.05% APY, have a $25 minimum opening deposit, and require a $2.5k daily balance to avoid the monthly service fee ($10 for Justice Nation and $8 for Beyond the Badge). There are no transactional requirements with either checking account.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 0.05% | $2.5k | - | Justice Federal Credit Union | Justice National Checking Account | |
| 0.05% | $2.5k | - | Justice Federal Credit Union | Beyond The Badge Checking |
If you close your checking account during the term of the Certificate Special, the “rate will be reduced to the original dividend rate of your Share Certificate for the remainder of the certificate term.”
Many thanks to DA reader, beecia, for the Forum post about the Jumbo Certificate. I’d also like to thank kentchristopher and HollyHolly for their comments.
Availability
Headquartered in Chantilly, Virginia, Justice Federal Credit Union bills itself as the "premier provider of financial services to the Justice, Homeland Security and Law Enforcement Community." Employees of the Department of Justice, Homeland Security, State and Federal Courts, and the Georgia Department of Public Safety are the largest groups eligible for membership.
Members of certain Law Enforcement Associations, and Retirees and Contractors of specific government organizations are also eligible.
Immediate family of current Justice Federal members are also welcome to apply. Those included are “spouses, children, siblings, parents, grandparents, grandchildren, stepchildren, stepsiblings, stepparents, adopted family, as well as anyone living in the same residence under a single economic unit.”
For a complete list of membership qualifications, please refer to Justice Federal’s membership page.
While the field of membership (FOM) appears to be somewhat narrow, membership eligibility is open to the general public through the National Sheriffs’ Association (NSA) and the National Native American Law Enforcement Association (NNALEA).
The NSA has a "Citizens Sustaining Membership" ($15) that is open to anyone, regardless of employment status. According to NNALEA’s website,
Membership is open to both Native and Non-Native Americans. Members do not have to be law enforcement officers. The National membership fee is $15.
Note: An “easy membership requirement” does not necessarily equate to an easy joining process, as evidenced by DA reader, me1004’s, comments from an earlier blog post for Justice Federal.
I note, this place might be "easy" membership, but you will find it is not very easy at all. You will have to join one of those two groups on you own in advance, and the CU will not accept any proof of membership other than a formal membership letter, which you won't get for weeks.
Joining Justice Federal and/or opening a Jumbo Certificate can be done online, or at any of 27 branches located in California (2), Florida, Georgia (4), Illinois, New York (2), Texas (4), Virginia (5), West Virginia (2), and the District of Columbia (6).
The membership application can also be downloaded to facilitate joining.
Establish Membership with a $5 deposit into a Share Savings Account.
The vast majority of Justice Federal branches have limited access, with only one public access branch available in each of the following: California, District of Columbia, Georgia, Virginia, and West Virginia.
Many of our Branches and ATMs are located within secure facilities. Access to these locations may be restricted. Please ensure you have proper clearance to enter these restricted access branches prior to visiting.
Justice Federal participates in the CO-OP Shared Branch network, providing members with access to more than 5,500 shared branches. Justice Federal has partnered with the largest fee-free ATM networks (belongs to and nearly 150,000 ATMs throughout the country.
Justice Federal has partnered with the largest surcharge-free ATM networks (Allpoint, Alliance One, CO-OP, STAR) worldwide to provide you with the most convenient ATM access possible.
Credit Union Overview
Justice Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.89% (excellent) based on June 30, 2019 data. In the past year, Justice Federal increased its total deposits by $12.19 million, an above average annual growth rate of 1.98%. Please refer to our financial overview of Justice Federal Credit Union (NCUA Charter # 151) for more details.
The history of Justice Federal Credit Union is a classic example of a successful workplace credit union that began with a group of employees trying to help each other financially.
MARCH 2, 1935 – Twelve Department of Justice employees organize to form a credit union offering employee access to low cost loans and savings accounts. With only $137 in assets and 41 charter members, The Department of Justice Federal Credit Union (DOJFCU) is founded.
Eighty-four years later, Justice Federal has become the 15th largest credit union headquartered in Virginia, with nearly 62,000 members, branch locations in eight states and the District of Columbia, a diverse field of membership, and assets in excess of $797 million.
How the Jumbo Certificate Compares
When compared to the similar length-of-term CDs tracked by DepositAccounts.com, that are available nationally, Justice Federal Credit Union’s 60-month Jumbo Certificate APY currently ranks first, regardless of minimum deposit requirements.
The above rates are accurate as of 10/11/2019.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.
https://www.youtube.com/watch?v=kWvbJsB0OBc
Over the years I have had CDs in two banks that failed and their assets were taken over by other banks. Both times I was given the option of cashing out those CDs or continuing them until maturity with the new banks at a then lower rate.