Kinecta FCU Adds 2-Year Jumbo CD

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Deal Summary: 2-year Jumbo Karma Share Certificate, 2.50% APY, $100k minimum; 2-year Karma Share Certificate, 2.00% APY, $1k minimum.

Availability: Easy membership requirement

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).

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.50%$100k-Kinecta Federal Credit Union2 Year Jumbo Karma Share Certificate
2.00%$1k-Kinecta Federal Credit Union2 Year Karma Share Certificate
Rates as of April 24, 2018.

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 41st 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.

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

Comments
Att
Att   |     |   Comment #1
Banesco USA has the same term and rate. The only drawback is Banesco is owned by a Venezulean bank.
me1004
me1004   |     |   Comment #2
BTW, as I read the Website, it is $10 to join the Consumers Cooperative of Santa Monica, if you use that as your means to join. But it is an additional $10 fee for everyone to the CU for membership.
ChasR
ChasR   |     |   Comment #3
Wells Fargo is currently offering a 2.5% 2-year brokered CD on Fidelity, TD Ameritrade and probably other online brokers.
alan1
alan1   |     |   Comment #4
Thanks, ChasR

Wells Fargo is also offering the following rates on longer brokered CDs:

3 yrs (+ 2 weeks) 2.70
4 yrs (+ 2 weeks) 2;75
5 yrs (+ 2 weeks) 2.85
Luvcd
Luvcd   |     |   Comment #5
Wells Fargo is toast!
Att
Att   |     |   Comment #8
I read that the trucking and rail companies are going to raise their rates and many food manufactures and distributors are going to increase product prices to pay for the higher rates. Looks like inflation and Fed rate increases will cause savings rates to rise. Just put funds in NASA CU for 2.5% for 11 months. Going to keep short for a while and see how things play out. Also, Dollar is no paying 1.8%.
111
111   |     |   Comment #6
A reminder - for those who bought the Live Oak Bank 2.5% 5-year add-on CD offered in Feb. 2015, as of today that is now effectively a 2-year CD for any new funds added-on. It also has a 6 month EWP (as does this one). It's a little cumbersome because Live Oak cannot generate actual statements for that particular CD "vintage", only transaction downloads. However I check their math every month, and the interest is correct.
111
111   |     |   Comment #7
I should also note that the Live Oak Bank CD I mentioned earlier was also listed on Ken's website at the time - thanks again, Ken.
ChasR
ChasR   |     |   Comment #9
This is a great CD. I've regularly added money to mine using PODs . If we get three Fed rate hikes this year, and 12- and 18-month CD rates go above 2.5%, I may be able to stop adding to it.
Kinecta FCU's 5-year CD and Jumbo CD Rates Climb Upward
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).

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...

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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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