Kinecta FCU's 5-year CD and Jumbo CD Rates Climb Upward

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Deal Summary: 5-year Jumbo Share Certificate, 2.50% APY, $100k minimum; 5-year Share Certificate, 2.25% APY, $1k minimum.

Availability: Easy membership requirement

Over the weekend, California-based Kinecta Federal Credit Union (Kinecta) raised the rates on its 5-year Jumbo Share Certificate (2.50% APY, $100k minimum) and 5-year Share Certificate (2.25% APY, $1k minimum).

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.50%$100k-Kinecta Federal Credit Union5 Year Jumbo CD
2.50%$100k-Kinecta Federal Credit Union5 Year Jumbo IRA (Traditional, Roth)
2.25%$1k$100kKinecta Federal Credit Union5 Year IRA (Traditional, Roth)
2.25%$1k$100kKinecta Federal Credit Union5 Year CD
Accounts mentioned in this post. Rates as of November 24, 2017.

The 5-year Share Certificates are also offered as IRAs, earning the same APYs with the same funding requirements.

According to the fine print on the Promotion Page, the 5-year Share and Jumbo 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:

Any withdrawal of the principal amount held in the account which does not reduce the balance of the account below the minimum qualifying amount will be subject to the following penalties:

A forfeiture of all dividends earned for 180 days or from the date of issuance or renewal
(if less than 180 days) on the amount withdrawn if the minimum term of the certificate is more than one (1) year.

Any withdrawal of the principal amount held in the account which reduces the balance of the account below the minimum quality amount will result in the cancellation of the certificate and the penalties set forth above will be applied to the entire principal amount.

The combination of a competitive rate and mild EWP (not to mention the additional VIP bonus rate) increases the Jumbo Share Certificate’s intrinsic value. DA’s EWP Calculator can determine on a month-by-month basis what the effective yields would be. For example,

  • 1.68% APY, closed at 18 months
  • 1.89% APY, closed at 2 years
  • 2.10% APY, closed at 3 years
  • 2.21% APY, closed at 4 years

If you were able to take advantage of the Gold Club’s additional 5 bps, the effective yields only become more attractive.

  • 1.71% APY, closed at 18 months
  • 1.92% APY, closed at 2 years
  • 2.14% APY, closed at 3 years
  • 2.25% APY, closed at 4 years

2-year Share and Jumbo Share Certificates

Kinecta also hiked its 2-year Share Certificate (1.75% APY, $1k) and 2-year Jumbo Share Certificate (2.00% APY, $100k) rates, with increases of 55 and 75 bps, respectively. While not as competitive as the 5-year Share and Jumbo Share Certificates, these new rates deserve be mentioned.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.00%$100k-Kinecta Federal Credit Union2 Year Jumbo CD
2.00%$100k-Kinecta Federal Credit Union2 Year Jumbo IRA (Traditional, Roth)
1.75%$1k$100kKinecta Federal Credit Union2 Year IRA (Traditional, Roth)
1.75%$1k$100kKinecta Federal Credit Union2 Year CD
Accounts mentioned in this post. Rates as of November 24, 2017.

The 2-year Share Certificates are also offered as IRAs, earning the same APYs with the same funding requirements. They also qualify for the Gold Club and Hughes Gold Elite Club bonus rates.

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 36 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, Rancho Cucamonga, 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 "A" at DepositAccounts.com, with a Texas Ratio of 4.30% (excellent) based on June 30, 2017 data. In the past year, Kinecta increased its total non-brokered deposits by $226.53 million, an excellent growth rate of 6.78%. 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 a simple inconvenience: employees of the Hughes Aircraft Company were using too much of their lunchtime driving downtown to handle their finances. So 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 42nd largest credit union in the nation, with more than $4 billion in assets and serving over 285,400 member-owners across the country.

How the Jumbo Share Certificate Compares

When compared to the 188 similar length-of-term CDs tracked by DepositAccounts.com are available nationwide, Kinecta Federal Credit Union’s 5-year Jumbo Share Certificate APY currently ranks fourth, regardless of minimum deposit.

The above rates are accurate as of 10/23/2017.

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: Los Angeles CD rates, San Francisco Bay CD rates, San Diego CD rates, Santa Barbara CD rates, 5-year CD rates, nationwide deals

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Kinecta FCU Adds 30-Month CD and Jumbo CD
Deal Summary: 30-month Jumbo Share Certificate, 2.00% APY, $100k minimum; 30-month Share Certificate, 1.50% APY, $1k minimum.

Availability: Easy Membership Requirement

California-based Kinecta Federal Credit Union (Kinecta) has added a promotional 30-month Jumbo Share Certificate (2.00% APY, $100k minimum) and 30-month Share Certificate (1.50% APY, $1k minimum).

According to the fine print on the Promotion Page, both of the 30-month 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.

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Kinecta FCU Has Competitive 5-Year CD And Jumbo CD
Availability: Easy Membership Requirement

California-based Kinecta Federal Credit Union (Kinecta) is offering a 5-year Share Certificate (2.05% APY, $1k-$100k) and 5-year Jumbo Share Certificate (2.10% APY, $100+k).

The 5-year Share Certificates are also available as IRAs (Traditional and Roth) earning the same APYs, with the same funding requirements.

Kinecta’s Gold Club and Hughes Gold Elite Club offer an additional 0.05% and 0.10% rate increase, respectively, on Share Certificates.

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

The requirements for the Hughes Gold Elite Club...

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Kinecta FCU Offers Competitive 15-month Share Certificate Special
Availability: Easy membership

Sometimes, what appears to be a straightforward offering turns into a mini-mystery, and Kinecta Federal Credit Union’s (Kinecta) 15-month Share Certificate (CD) Special (1.25% APY) is one of those instances.

In the Comments section of the recent blog on the Community Bank of Bergen County NJ, one of the many "Anonymous" DA readers posted, "Kinecta FCU offers 15 month 1.25% Certificate."

I checked out Kinecta FCU’s website and easily found the FCU’s 15-month CD Special, which had only one line of fine print:

Sounds simple, right?

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Highly Competitive 2-Year Jumbo CD At Kinecta Federal Credit Union

UPDATE October 14, 2014: Rate has fallen to 1.75% APY.

Kinecta Federal Credit Union (Kinecta FCU) just raised the rate on its 2-Year Jumbo CD to 2.00% APY. This Jumbo CD requires a minimum $100K deposit and is also available as an IRA (Traditional and Roth) at a higher rate of 2.15% APY. According to a very helpful and patient CSR, new money is required for the 2-Year Jumbo CD.

As stated in Kinecta FCU’s Disclosures Document, the Early Withdrawal Penalty is substantial:

Availability

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5.40% 12-Month CD at a California CU - Open To All (Kinecta)
Kinecta Federal Credit Union has some competitive yields on its promotional share certificates. The 12-month and 6-month yields are 5.40% APY and 5.30% APY with a minimum deposit of $100,000. The yields for a minimum deposit of $1,000 are 10 basis points lower.

Field of membership includes members of a non-profit society called the Consumers Cooperative Society of Santa Monica. Membership into this society is open to any individual. There's a one-time membership fee of $10. You can also be eligible to join Kinecta via Select Employer Groups and via family....

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