Kemba CU (OH/KY/IN) Unveils 66-Month Special CD


Deal Summary: 66-month Special CD, 2.75% APY, $500 minimum deposit.

Availability: Residents of 14 Southwestern Ohio counties, eight Northern Kentucky counties, and two Southeastern Indiana counties; Kroger Plus Card holders in Greater Cincinnati area; employees of 600+ SEGs.

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According to CSR, the Early Withdrawal Penalty (EWP) is six months interest on the amount withdrawn.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.

  • 1.86% APY at 18 months
  • 2.09% APY at 24 months
  • 2.23% APY at 30 months
  • 2.32% APY at 36 months
  • Availability

    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, 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, requiring a similar minimum deposit and available with the FOM, Kemba Credit Union’s 66-month CD Special APY currently leads the list.

    The above rates are accurate as of 8/25/2017.

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

    Related Pages: Fort Wayne CD rates, Cincinnati CD rates, 5-year CD rates

    Bozo   |     |   Comment #1
    OK, explain to me in terms a five-year old could understand. Why is a Credit Union in Appalachia offering such good terms, when credit unions and banks in California (notably Silicon Valley) don't.

    I know, I know, It's supply and demand.
    hrm   |     |   Comment #2
    There's also cost of doing business. CA businesses export parts of their companies (e.g., HR) to other states (e.g., TX) to save money. A related question is why limit the availability, and I'm sure part of the reason is to provide a nice special to members without getting swamped in deposits (this is partly why banks do brokered CDs is because they can limit the offer quantity). Andrews Federal has specials that brought in $573 million in new deposits (according to their Aug newsletter) and that's a lot to absorb (and reinvest) in a short period of time.
    Att   |     |   Comment #3
    Some Credit Unions limit the amount of total funds they will take in. A few years back I opened a CD with XCEL CU. The rep said once they hit a certain amount (I believe it was 21 million) they would longer accept CDs at the high rate they were offering. More banks and credit unions are also implementing maximums when opening a certificate. I guess with information readily available on the internet, they can be overwhelmed by the response to a promotional offer.
    111   |     |   Comment #4
    hrm - I'm curious. You referred to the Andrews FCU August newsletter. I started an Andrews CD last November (as did many others). I received a couple of their newsletters by email, but February was the last one I got. Are you receiving these by email, or are you finding them somewhere on the Andrews website? Thanks.
    luau   |     |   Comment #5
    Maybe because no matter what people say, everyone wants to be in California, and perhaps that 2.75% rate is needed to stem the flood of people leaving Appalachia (or Texas) for California. Dang, Ma & Pa were gonna leave, but that 2.75% rate (and Bob, our pet alligator) enticed them to stay... :)

    Heck, I'll bet banks in Hawaii offer a promotional CD of.... 0.0000%

    Speaking of which, seriously, in all the years I've been reading DA, has anyone ever seen any mention of Hawaiian-based banks/credit union specials? Seriously! Have I just missed/glossed over them, or have there not ever been any? Is it there aren't any DA readers from Hawaii, or that there's never any noteworthy specials in Hawaii?
    !!!   |     |   Comment #6
    Not everyone wants to be in California.

    Land of fruits and nuts and high taxes. Seriously!
    !!!   |     |   Comment #7
    Not everyone wants to be in California.

    Land of fruits and nuts and high taxes. Seriously!
    Smokeboat   |     |   Comment #8
    Referencing George Mason University Mercatus Center data. States Fiscal Ranking 2017 Edition....OH 13, CA 43 State debt per capita... OH $1465, CA $3060
    Luvcd   |     |   Comment #9
    Given the dynamics of grocery business, e.g. Amazon and Whole Foods merger and the "interesting" leadership of senior exec, this CU could also be looking at big changes in the near future given its membership base.
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    The 60-month CD is also available as an IRA (Traditional, Roth, and CESA), earning the same APY and with the same funding requirements.

    According to a very helpful CSR, the Early Withdrawal...

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    In late June 2014, Kemba Credit Union was offering a special 42-month CD with a 2.00% APY. Unfortunately, that CD is no longer available, but Kemba Credit Union has raised its rates on the 4-Year CD (2.10% APY) and the 5-Year CD (2.40%). The required minimum balance to open and earn dividends is $500 and no bonuses apply. These rates are listed at the credit union’s CD page as of 7/29/14.

    Kemba Credit Union continues to offer its Get Green Checking Account paying 2.50% APY on balances up to...

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    Special 42-Month CD at Kemba Credit Union in the Greater Cincinnati Area

    Kemba Credit Union has a special 42-month CD with a 2.00% APY. The minimum balance to open and earn dividends is $2.5K, and no bonuses apply. There is a penalty of up to 6 months dividends for early withdrawal. The special rate is listed at the credit union’s CD page as of 6/25/14. Thanks to DA member Shorebreak for posting on this in the forum.

    A 42-month CD is an unique length of term, but when compared to the highest earning nationally available 3-year and 4-year CDs, its rate of return...

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    Kemba Credit Union has a special 72-month CD with a 3.85% APY. This is listed at the credit union's home page and in its savings rates page as of 12/07/09.

    A 6-year term is long when rates are so low, but if you need a long-term CD for a CD ladder, this is one of the best long-term rates available.

    Kemba also has a reward checking account that pays 3.50% APY on balances up to $25K as of 12/07/09 (see post). It may seem like this checking account would be a much...

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    3.50% Reward Checking Account at Kemba Credit Union in Ohio - Local Only
    Kemba Credit Union is offering a high-yield reward checking account called Get Green Checking. It has the following rates and features if certain monthly requirements are met:
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    • 0.25% APY on portion of balance over $25,000
    • 0.15% base rate if requirements are not met
    • ATM fee refunds up to $20 per month
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    • 12 debit card 'credit' purchases
    • 1 direct deposit or automatic payment
    • Access online banking
    • Receive E-statements
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    • No monthly service charge
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