Ohio based Kemba Credit Union (Kemba CU) is ending the week by introducing a 66-month Special CD (2.75% APY). The minimum opening deposit is $500, with no stated maximum balance cap.
According to CSR, the Early Withdrawal Penalty (EWP) is six months interest on the amount withdrawn. A very mild EWP? Cue DA’s Early Withdrawal Penalty Calculator. While the effective yields from Month 1 to Month 65 are calculated and shown on that page, I’ll just list a few.
Headquartered in West Chester, Ohio, Kemba Credit Union’s field of membership (FOM) is wide and varied, with a way for almost anyone in Southwestern Ohio and the Tri-State area to join.
Residency - Individuals who live, work, worship, or attend school in one of the following Ohio counties: Adams, Brown, Butler, Clark, Clermont, Clinton, Darke, Greene, Hamilton, Highland, Miami, Montgomery, Preble and Warren; or one of the following Kentucky counties: Boone, Campbell, Carroll, Gallatin, Grant, Kenton, Owen, Pendleton are eligible to join. Individuals who live or work in Dearborn or Franklin Counties, Indiana are also eligible.
Kroger Plus Card Holders - Anyone who lives in the Greater Cincinnati area and has a Kroger Plus Card is eligible for membership. (Kroger is a grocery store chain with nearly 2,800 stores in 34 states and the District of Columbia.)
Company Partners - Employees of the 600+ Company Partners are eligible.
Complete details are available on Kemba CU’s Membership Eligibility page.
Joining Kemba CU and/or opening a 66-month Special CD can be done at any of ten Ohio branches located in Amelia, Blue Ash, Cincinnati (5), Harrison, Mason, and West Chester, or at the Bluffton (IN) and Florence (KY) branches.
The application process can also be started online, by filling out a contact form.
Please fill out the fields in the form below. One of our representatives
will contact you within one business day to complete the process.
Credit Union Overview
Kemba Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 1.49% (excellent), based on March 31, 2017 data. In the past year, Kemba CU has increased its total non-brokered deposits by $33.45 million, an excellent annual growth rate of 5.08%. Please refer to our financial overview of Kemba Credit Union (NCUA Charter # 61810) for more details.
Kemba (Kroger Employees Mutual Benefit Association) Cincinnati Credit Union was founded in 1934 to serve the employees of the Kroger factory and packinghouse. By the end of 1939, the assets of the Credit Union had grown to $110k. With more than 89,500 members and assets in excess of $801 million, Kemba CU is currently Ohio’s sixth largest credit union.
How the CD Compares
When compared to other similar length of term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available with the FOM, Kemba Credit Union’s 66-month CD Special APY currently leads the list.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|2.75% APY||66-Month CD Special||Kemba Credit Union|
|2.35% APY||72-Month CD||Third Federal Savings and Loan|
|2.30% APY||6-Year CD||GS Bank|
The above rates are accurate as of 8/25/2017.