Kinecta FCU Adds 2-Year Jumbo CD

California-based Kinecta Federal Credit Union (Kinecta) has added two 2-year Karma Share Certificates that earn 2.50% APY (Jumbo, $100k min) and 2.00% APY (Regular, $1k min).

In addition to offering a competitive rate, Kinecta will donate $10 to Karma Rescue for each new 2-year Karma Share Certificate opened between February 7 and March 7, 2018. Karma Rescue is a Los Angeles-based non-profit 501(c)(3) that “transforms lives and creates second chances with our innovative programs that champion at-risk dogs.”

According to the fine print on the Promotion Page, the Karma Share and Jumbo Karma Share Certificates qualify for a VIP Bonus. Kinecta’s Gold Club and Hughes Gold Elite Club offer an additional 0.05% and 0.10% rate increase, respectively, on Share Certificates.

Our VIP members deserve more! There’s no fee, and you don’t need
to sign up for anything. You’re automatically enrolled when you qualify.

As stated on the VIP Membership page, the requirements for the Gold Club reads as follows:

Gold Club - Minimum of $150,000 in combined balances (loans, deposits, & investments) including minimum of $10,000 in deposits & investments.

Either of the following: (A) minimum monthly average direct deposit of $250 to share accounts; OR (B) minimum monthly average of 3 transactions tied to share accounts.

The requirements for the Hughes Gold Elite Club are the same as for the Gold Club, but the Hughes Gold Elite Club also requires 20 or more years of Kinecta membership.

As stated in Kinecta’s Truth-in-Savings document, the Early Withdrawal Penalty (EWP) reads as follows:

The Credit Union will terminate the Term Share Certificate Account and impose a penalty on the amount of withdrawal from the account if a withdrawal of principal is made prior to the Maturity Date.

If the Term Share Certificate has a term to maturity greater than one (1) year, the penalty imposed will equal one-hundred eighty (180) days of dividends.

Availability

Headquartered in Manhattan Beach in Southern California, Kinecta Federal Credit Union's field of membership is varied and wide, with a qualifying option for almost any U.S. citizen or resident alien.

Easy Membership - Joining Consumers Cooperative of Santa Monica (CCSSM) ($10 non-refundable membership fee) qualifies individuals for Kinecta membership. The Credit Union's online application allows you to join CCSSM and Kinecta simultaneously.

Residency - Individuals who live, work, worship, or attend school in select Zip Codes of Anaheim, Lancaster, Rialto, Santa Ana, and the Greater Los Angeles area qualify for membership.

Employment - Any current or retired employee of 480+ Select Employee Groups and their immediate family and household members are eligible for membership.

Association - Members of the El Segundo Sunshine Lions Club, Manhattan Heights Senior Citizens Club, Manhattan Beach Lions Club, Neptunian Woman's Club, Grand View Elementary PTA, and Riviera United Methodist Church are eligible to join.

Relationship - Immediate family (spouse, parent, child, sibling, grandparents, grandchild) or household member of a Kinecta member qualify for membership. There are two new additions to the relationship drop-down menu on the online application: friend and sponsor.

Joining Kinecta and/or opening a Share Certificate can be done online, or in person at any of 35 California branches located in Anaheim, Brea, Carson, Compton (2), El Segundo (3), Fountain Valley, Gardena, Goleta, Hawthorne, Hermosa, Highland Park, Inglewood (3), Lakewood, Lancaster, Los Angeles (2), Malibu, Manhattan Beach, Newport Beach, Redondo Beach, San Diego, Santa Monica, Thousand Oaks, Torrance (2), Tustin, Westchester, Westlake Village, Westminster, and Woodland Hills.

Credit Union Overview

Kinecta Federal Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 5.62% (excellent) based on September 30, 2017 data. In the past year, Kinecta has increased its total non-brokered deposits by $244.14 million, an excellent growth rate of 7.15%. Please refer to our financial overview of Kinecta Federal Credit Union (NCUA Charter # 4142) for more details.

Hughes Aircraft Employees Federal Credit Union (HAEMFCU) came into existence in 1940 because of an inconvenience: employees of the Hughes Aircraft Company were using too much of their lunchtime driving downtown to handle their finances. The solution? A credit union was started at the Hughes Aircraft plant. HAEMFCU continued to grow and service its members for 60 years, and in July 2001, the name was changed to Kinecta Federal Credit Union. Today, Kinecta Federal Credit Union is the 41^st largest credit union in the nation, with more than $4.1 billion in assets and serving nearly 287,000 member-owners across the country.

How the Jumbo Karma Share Certificate Compares

When compared to the similar length-of-term CDs tracked by DepositAccounts.com are available nationwide, Kinecta Federal Credit Union’s 2-year Jumbo Karma Share Certificate APY currently ranks first, regardless of minimum deposit.

The above rates are accurate as of 2/28/2018.

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