New Year’s Day saw Kirtland Federal Credit Union (KFCU) boosting the rates on most of its Share Certificates, with increases ranging from 14 to 27 basis points (bps).
All of KFCU’s Share Certificates have tiered APYs for six different deposit levels.
The Share Certificates are also offered as IRAs (Traditional), earning the same tiered APYs and with the same funding requirements.
According to CSR, the Early Withdrawal Penalty (EWP) for the 24-, 36-, 48-, and 60-month Share Certificates is 180 days, with an EWP of 90 days for the 12-month Share Certificate.
Headquartered in Albuquerque, New Mexico, Kirtland Federal Credit Union’s field of membership (FOM) is primarily affiliated with Kirtland Air Force Base (KAFB), but also includes “Veterans who are eligible to join organizations such as the American Legion and Veterans of Foreign Wars (VFW).”
According to CSR, any military personnel, active or retired, are eligible to join, regardless if they have a relationship with KAFB or not.
Relationship: Family members of membership-eligible individuals qualify for membership.
There are other ways to qualify for membership, which are listed on the Join Kirtland FCU page.
Credit Union Overview
Kirtland Federal Credit Union (NCUA Charter # 12199) has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 4.54% (excellent) based on September 30, 2016 data. In the past year, Kirtland FCU has increased its total non-brokered deposits by $33.26 million, an excellent growth rate of 5.8%. Please refer to our financial overview of SafeAmerica Credit Union for more details.
Established in 1958 by ten KAFB airmen, Kirtland Federal Credit Union is currently New Mexico’s fourth largest credit union, with more than 46,70 members and assets in excess of $763 million. An October article in CreditUnionTimes states that,
New Mexico’s fourth largest credit union by assets, the $763 million Kirtland Federal Credit Union, said Thursday it intends to merge into the $2.3 billion Sandia Laboratory Federal Credit Union, the state’s largest credit union by assets.
Although the proposed merger was approved by both of the credit union’s boards of directors, the cooperatives have begun a “more in-depth process to evaluate the possibility of combining the two organization,” according to a prepared statement.
How the Share Certificates Compare
Since Kirtland FCU’s FOM is based on a military relationship and not tied to a specific geographic area, a comparison to nationally available CDs is appropriate.
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available nationally, all of Kirtland Federal Credit Union’s 36-month Share Certificate APYs currently equal or surpass the top four APYs, regardless of minimum deposit.
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available nationally, all of Kirtland Federal Credit Union’s 48-month Share Certificate APYs currently equal or surpass the top APY, regardless of minimum deposit.
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available nationally, all of Kirtland Federal Credit Union’s 60-month Share Certificate APYs currently equal or surpass the top five APYs, regardless of minimum deposit.
The above rates are accurate as of 1/4/2017.