Knoxville TVA Employees Credit Union (KTVA ECU) has been offering a series of CD Specials for the past few years. KTVA ECU has added new money versions of these CD Specials with APYs 10 bps higher than their counterparts. The new money requirement is different than the usual “funds must not be on deposit with us” restriction.
Half of the Certificate balance must be new money.
The most competitive of the new money CD Specials is the 60-month, which currently earns 3.50% APY. The minimum opening deposit is $2.5k, with no stated balance cap. The regular 60-month CD Special (no new money) currently offers a 3.40% APY.
|3.50%||$2.5k||-||Knoxville TVA Employees Credit Union||60 Month CD Special - New Money|
|3.40%||$2.5k||-||Knoxville TVA Employees Credit Union||60 Month CD Special|
The 60-month CD Special is also offered as an IRA (Traditional, Roth, and CESA), earning the same APY and with the same new money funding requirement.
|3.50%||$2.5k||-||Knoxville TVA Employees Credit Union||60 Month IRA Special - New Money (Traditional, Roth, CESA)|
As stated on the Specials Rate page, the Early Withdrawal Penalty reads as follows:
Certificate Accounts with maturities of eighteen (18) months or more
have a penalty for early withdrawal of an amount equal to 180 days dividends.
Headquartered in Knoxville, Tennessee, Knoxville TVA Employees Credit Union’s field of membership (FOM) is primarily residency based, with individuals who live, work, worship, or attend school in the Tennessee counties of Blount, Hamblen, Jefferson, Knox, Loudon, Roane, Sevier, or Sullivan eligible to join.
In addition, individuals who live, work, worship, or attend school in Johnson City, Tennessee, also qualify for membership. (Johnson City lays in three separate Tennessee counties: Carter, Sullivan, and Washington.)
Family members of current KTVA ECU members or membership-eligible individuals also qualify.
Joining KTVA ECU and/or opening a Certificate Special can be done online, or at of any of 21 Tennessee branches located in Alcoa, Harriman, Jefferson City, Johnson City, Kingsport, Knoxville (11), Lenoir City, Morristown (3), and Sevierville.
Credit Union Overview
Knoxville TVA Employees Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 1.73% (excellent) based on March 31, 2018 data. In the past year, the Credit Union has increased its total non-brokered deposits by $127.74 million, an excellent annual growth rate of 9.19%. Please refer to our financial overview of Knoxville TVA Credit Union (NCUA Charter # 68085) for more details.
The Tennessee Valley Authority (TVA) was created in 1933 to provide “navigation, flood control, electricity generation, fertilizer manufacturing, and economic development to the Tennessee Valley,” which had been hit hard by the Great Depression. A year later, the Knoxville TVA Employees Credit Union was chartered, with an initial membership of 300 members and $7,500 in assets. In the mid-1970s, the FOM was expanded to include all TVA employees, with a further expansion in 2003 that added eight Tennessee counties. KTVA ECU is currently Tennessee's fourth largest credit union, with more than 181,500 members and assets in excess of $1.9 billion.
How the Certificate Special Compares
When compared to the 209 similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, Knoxville TVA Employees Credit Union’s 60-month Certificate Special APY currently ranks first.
The above rates are accurate as of 8/16/2018.
Looking for the best CD rates, both nationwide and state specific? Please refer to our CD Rates Table page.