KEMBA FCU Adds March Madness 60-Month CD w/Relationship


UPDATE 4/7/2017: Offer extended through April 29, 2017.

Deal Summary: March Madness 60-Month Certificate; 3.00% APY (Advantage members); 2.25% APY (non-Advantage members); $5k min/$1m max; available through April 8 29, 2017.

Availability: Residents of Delaware, Fairfield, Franklin, Licking, Logan, Madison, and Union Counties, Ohio; Employees/members of 250+ Partner Companies and 14 Associations.

Now through April 8 29, 2017, KEMBA Financial Credit Union (KEMBA) is offering a March Madness 60-month Certificate, earning 3.00% APY for KEMBA Advantage members, and 2.25% APY for non-Advantage members. The minimum deposit is $5k, with a $1 million cap per Certificate. The offer is only valid with new money, which is defined as “money not on deposit with KEMBA in the past 30 days.”

According to CSR, the Early Withdrawal Penalty is either “half of all the interest earned on the amount being withdrawn or $25 dollars, whichever is greater.”

KEMBA Advantage

While the Advantage program is described as a perk,

As an Advantage member you can do more with your money and
get even more out of your membership! Advantage members receive
bonuses on most deposits, and a rate reduction on most loans.

the required qualifications make it sound more like a Rewards Checking Account.

To earn KEMBA Advantage member status, the following requirements must be met each month:

(1) Have an active checking account and make at least 15 qualifying transactions, which include any combination of the following: cleared checks, Debit Card signature transactions, online bill payments, electronic loan payments made from your KEMBA checking account, automatic deposits or withdrawals, and Virtual Deposits;

(2) Have Direct Deposit of your entire payroll, Social Security, or pension check (minimum of $1,000/month);

(3) Receive eStatements.

The fine print on the Certificate promotion page states,

Certificate Advantage special rate available only to KEMBA Advantage members meeting program requirements for the full life of the Certificate; otherwise rate will adjust to 2.25% APY.

That’s a commitment to five years of 15 monthly qualifying transactions and monthly Direct Deposits of at least $1k to earn the additional 0.75%. The following illustrates the difference between the interest earned in the Advantage Certificate vs the non-Advantage Certificate.

    60-Month Certificate

    $25k deposit

    3.00% APY = $3,982 interest

    2.25% APY = $2,942 interest

    60-Month Certificate

    $50k deposit

    3.00% APY = $7,964 interest

    2.25% APY = $5,884 interest

Thanks to DA reader, drew95, for his Forum post about the 60-month Certificate.


Headquartered in Gahanna, Ohio, KEMBA Financial Credit Union’s field of membership (FOM) is primarily residency based with individuals who live, work, worship, or attend school in the Ohio counties of Delaware, Fairfield, Franklin, Licking, Logan, Madison, and Union eligible to join.

Employees of more than 250 Partner Companies (listed on the first page of the online application) qualify for membership, as do the members of 14 Associations.

In addition, family members of current KEMBA FCU members also eligible to join.

Joining KEMBA FCU can be done online, or at any of ten Ohio branches, located in Bellefontaine, Columbus (4), Gahanna, Grove City, Pickerington, Powell, and Westerville.

According to the March Madness Certificate promotion page, the Certificate can be opened in any of the above mentioned branches, or by phone (800.282.6420, option 4).

Credit Union Overview

KEMBA Financial Credit Union has an overall health grade of "A+" at, with a Texas ratio of 2.26% (excellent) based on December 31, 2016 data. In the past year, KEMBA FCU increased its total non-brokered deposits by $70.92 million, an excellent annual growth rate of 9.12%. Please refer to our financial overview of KEMBA Financial Credit Union (NCUA Charter # 61623) for more details.

Founded in 1933, KEMBA Financial Credit Union originally served the employees of The Kroger Company, a grocery store chain. (KEMBA is an acronym for Kroger Employee Mutual Benefits Associate.) KEMBA is currently Ohio’s third largest credit union, with nearly 90,000 members and assets in excess of $1 billion.

How the March Madness Advantage Certificate Compares

When compared to the 232 similar length-of-term CDs tracked by, with similar minimum deposit requirements and available within the FOM, KEMBA Financial Credit Union’s March Madness 60-month Advantage Certificate APY currently ranks first.

The above rates are accurate as of 4/11/2017.

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

Bozo   |     |   Comment #1
Yup, it's just a gussied-up rewards checking promo.

Thanks, but no thanks.
Bozo   |     |   Comment #2
If you do the math (as folks at DA often do), it's basically a 2.25% 5-year CD, with a carrot on top. Problem being, the requirements for the carrot. Last I checked, StateFarmBank offered 2.3% on a five-year.
CapitalClimate   |     |   Comment #7
The 5-year commitment is more like kale, or at least broccoli, than carrot.
itserich   |     |   Comment #3
Requirements must be met every single month, or additional rate is forfeited for the entire 5 years. Is that right?

That, plus the EWP of 1/2 of interest earned.
Bozo   |     |   Comment #4
Itserich, I hate "qualifiers". My eyes tend to glaze over. Give me an old-fashioned CD any day. I give you "X" dollars, I lock it up with you for "Y" years, you pay me "Z"% interest, compounded monthly.
LuvCD   |     |   Comment #5
True but not necessarily right.
51hh   |     |   Comment #6
Complication is really bad for investors. It confuses us and, from confusion, rob money from us. Consider it as a 2.25% 60-month CD, which is not attractive. End of story.
IAH   |     |   Comment #8
You must live in Ohio to join. Simply Living does not work without the OHIO provision.
DanB   |     |   Comment #9
I just visited and signed up for their newsletter with my email address, but to become a member which; I am assuming is necessary to take advantage of the higher interest rate I don't see where that is possible without a membership fee being paid.
DanB   |     |   Comment #10
Just read what IAH had to say so I guess all that makes sense to me now. Thank you!