Kellogg Community Credit Union Golden Certificates Still Competitive
When I first saw the Golden Certificates offered by Kellogg Community Credit Union (KCCU), I thought “Golden” might refer to an age limitation (i.e., a golden certificate for the golden years). That was a totally wrong assumption. As stated on KCCU’s Certificates page, the Golden Certificates “are designed for the high-balance saver.” Requiring a $50k minimum deposit, Golden Certificates have rates 20-25 bps higher than the regular CD rates. Of the six Golden Certificates in the product line, the 5-year (1.40% APY) and 3-year (1.05% APY) are the most competitive.
The Golden Certificates are also available as IRA Golden Certificates (Traditional, Roth, CESA), earning the same APYs with the same deposit requirements.
As stated in the Truth-in-Savings disclosure, the Early Withdrawal Penalty reads as follows:
Terms of 13 months or longer – 180 days’ dividends
The mild 180 days EWP increases the 5-year Golden Certificate’s competitiveness. If/when rates begin to rise in the next four or five years, a mild EWP is useful should an excellent rate opportunity arise. Using DA’s Early Withdrawal Penalty Calculator, you can see what the effective yields would be on a month-by-month basis, confirming that closing a 5-year Golden Certificate wouldn’t be a financial disaster. For example,
- 1.23% APY – closed at 4 years
- 1.17% APY – closed at 3 years
- 1.05% APY – closed at 2 years
eChecking and Kasasa Cash
KCCU continues to be one of the very few credit unions that offer two separate rewards checking accounts.
KCCU introduced its eChecking account in 2015 and its initial 4.00% APY on qualifying balances up to $15k is still in effect. The monthly qualifying requirements include,
- Minimum of $500 in direct deposit(s)
- Minimum of four online banking logins
- Minimum of 20 debit card transactions
- Receive eStatements
- Enroll in bill pay
KCCU began offering Kasasa products in December 2017. The Kasasa Cash account earns a higher APY (4.25%), but has a much lower balance cap of $7.5k. The Kasasa Cash qualifying requirements are quite similar to that of the eChecking account.
- Minimum of $500 in direct deposit(s)
- Minimum of one online banking logins
- Minimum of 12 debit card transactions
- Receive eStatements
- Maintain a valid e-mail address
Availability
Headquartered in Battle Creek, Kellogg Community Credit Union’s field of membership (FOM) is residency-based, with individuals who live, work, worship, or attend school in the Michigan counties of Allegan, Barry, Berrien, Branch, Calhoun, Cass, Ionia, Kalamazoo, Kent, Montcalm, Newaygo, Ottawa, St. Joseph, or Van Buren, eligible to join.
Relatives of current KCCU members also qualify for membership. (The website does not specify which relatives qualify.)
Joining KCCU can be done online, or at any of 12 Michigan branches located in Battle Creek (5), Grand Rapids, Kalamazoo (3), Marshall, Portage, and Three Rivers. According to the KKCU’s Locations & ATMs page, the lobbies of the 2nd Street and W. Michigan Avenue branches in Battle Creek and the Oakland Drive branch in Kalamazoo are by appointment only; the Grand Rapids branch is temporarily closed.
KCCU membership requires a minimum savings account deposit of just $5.00.
According to CSR, opening a Golden Certificate can be done at any of the above-mentioned branch locations or by calling 269.968.9251. Current KCCU members can also open a CD Special by logging into their online banking account.
In addition to the CO-OP Shared Branching and ATM networks, KCCU participates in the Xtend Shared Branching network that,
serves thousands of members in over 10 states with over 200 branch locations; many of them are located right here in Michigan.
Credit Union Overview
Kellogg Community Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 3.39% (excellent) based on September 30, 2021 data. In the past year, KCCU increased its total non-brokered deposits by $86.76 million, an excellent growth rate of 14.3%. Please refer to our financial overview of Kellogg Community Credit Union (NCUA Charter# 68678) for more details.
In 1941, twelve Kellogg Company employees contributed $5 each and applied for a charter, forming a credit union to serve the financial needs of Kellogg Company employees and retirees in Battle Creek.
80 years later, Kellogg Community Credit Union is currently Michigan’s 27th largest credit union with more than 44,000 members and assets in excess of $811 million.
How the Golden Certificates Compare
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available within FOM, Kellogg Community Credit Union's 5-year Golden Certificate APY currently ranks first, regardless of minimum deposit requirements.
| Interest Rate | CD Length of Term | Credit Union/Bank |
|---|---|---|
| 1.40% APY | 5-year Golden Certificate ($50k min) (EWP=180 days) | Kellogg Community Credit Union |
| 1.30% APY | 5-year Money Market Certificate ($1k min) (EWP=30% of total dividends) | PenFed Credit Union |
| 1.26% APY | 5-year Certificate ($10k min) (EWP=730 days) | Wings Financial Credit Union |
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available within FOM, Kellogg Community Credit Union's 3-year Golden Certificate APY currently ranks third, regardless of minimum deposit requirements.
| Interest Rate | CD Length of Term | Credit Union/Bank |
|---|---|---|
| 1.16% APY | 36-Month Mini-Jumbo CD ($50k min) (EWP=180 days or $50) | Hughes Federal Credit Union |
| 1.10% APY | 3-Year CD ($500 min) (EWP=730 days) | Quontic Bank |
| 1.05% APY | 3-Hear Golden Certificate ($50k min) (EWP=180 days) | Kellogg Community Credit Union |
The above information and rates are accurate as of 12/23/2021.
To search for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.
