Over the weekend, Ohio based Kemba Credit Union (Kemba CU) raised the rate on its 60-month CD (2.50% APY). The minimum opening deposit is $500, with no maximum balance cap.
The 60-month CD is also available as an IRA (Traditional, Roth, and CESA), earning the same APY and with the same funding requirements.
|2.20%||$500||-||Kemba Credit Union||60 Month CD|
|2.20%||$500||-||Kemba Credit Union||60 Month IRA (Traditional, Roth, CESA)|
According to a very helpful CSR, the Early Withdrawal Penalty is "a low six months of dividends."
Get Green Checking Account
Kemba Credit Union continues to offer its Get Green Checking Account that earns 2.50% APY on qualifying balances up to $15K, and 0.15% APY on qualifying balances above $15K; non-qualifying balances earn 0.05% APY. The qualification cycle begins on the last day of the month and the qualification requirements are as follows:
- At least 12 debit card purchases post and settle
- Be enrolled and receive e-Statement notice
- Be enrolled and log into online banking
|1.50*%||-||$15k||Kemba Credit Union||Get Green Checking|
|OTHER TIERS: 0.15% → $15k+|
The road to membership eligibility in Kemba Credit Union is wide and varied:
Residency - those 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; and those who live or work in the Indiana counties of Dearborn or Franklin are 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 2,626 stores in 34 states.)
Company Partners - Employees of the 600+ Company Partners are eligible.
Complete details are available on Kemba CU’s Membership Eligibility page.
Opening an account at Kemba CU can be done in person at any of nine Ohio branches located in Amelia, Blue Ash, Cincinnati (5), Harrison, and West Chester, or at the Bluffton, Indiana and Florence, Kentucky branches.
The application process can also be started online, by filling out a contact form.
Once the form is submitted, your information will be sent to Kemba Credit Union and a representative will contact you as soon as possible.
Credit Union Overview
Kemba Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 1.26% (excellent), based on March 31, 2015 data. In the past year, Kemba CU has increased its total deposits by $63.89 Million, an excellent annual growth rate of 12.51%. Please refer to our financial overview of Kemba Credit Union 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. Today, with assets of over $700 Million, Kemba CU's membership has grown to over 85,000.
How the CD Compares
When compared to other similar length of term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available to Ohio/Indiana/Kentucky residents, Kemba Credit Union’s 60-month CD currently leads the list.
The above rates are accurate as of 6/29/2015.
To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.