Langley Federal Credit Union Unveils Competitive 22-Month Promo CD
Virginia-based Langley Federal Credit Union (Langley FCU) has been offering monthly CD promotions for more than a year. April’s featured product is a 22-month Promotional Certificate, which earns a competitive 5.35% APY. This limited-time offer can be opened with a $500 minimum deposit, with no stated balance cap. (FYI – previous promotions required new money, but the 22-month Promotional Certificate does not.)
The fine print on the landing page lists the 22-month Promotional Certificate details, including,
- The minimum balance to open the certificate is $500.
- No maximum deposit.
- Includes IRA Certificates.
- Limited time offer.
- Not eligible for Active Rewards rate enhancement and cannot be combined with any other promotional offer.
As stated in the Truth-in-Savings for Certificates, the Early Withdrawal Penalty reads as follows:
Terms of 12 months of longer – 180 days’ dividends
The TIS also states,
If the account has not yet earned enough dividends or if the dividends have already been paid, the penalty will be deducted from the principal.
Thanks to DA reader, SouthernGirl, for her comment about the latest Langley FCU promotion in yesterday’s CD Deals Summary.
Availability and Account Opening
Headquartered in Newport News, Virginia, Langley Federal Credit Union offers membership to virtually any U.S. citizen or resident alien, 18 years or older, with a valid Social Security number. There are no longer any requirements to meet to qualify for membership – anyone is welcome to apply.
Joining Langley FCU and/or opening a 22-month Promotional Certificate can be done online, over the phone (757.827.5328), or at any of 21 Virginia branches located in Carrollton, Chesapeake (2), Hampton (3), Hayes, Langley AFB, Newport News (3), Norfolk (2), Poquoson, Virginia Beach (5), Williamsburg, and Yorktown.
A savings account is the initial account to establish your membership with Langley. Once you make the initial $5 deposit, you become a member of the credit union, enabling you to take advantage of many other products and services that meet your needs.
Langley FCU participates in the CO-OP Shared Branch network, providing its members with access to more than 5,000 shared branches across the country.
Funding and Other Details
According to CSR, those joining Langley FCU must first establish a membership, fund the new Langley Savings Account with the monies to be used to open the Promotional Certificate, and then call 757.827.5328 to open the Promotional Certificate over the phone.
- Funding – ACH ($51k max), wire, or credit/debit card ($1k max).
- CO-OP Shared Branch Participant – Yes.
- Dividends – Compounded/credited monthly; automatic transfer of dividends to a Langley FCU liquid account can set up when opening a Promotional Certificate.
- Maturing Funds – Wire, cashier’s check to address on file, or internal transfer. ACH Transfers cannot be initiated from any Langley FCU account.
- Beneficiaries – Unlimited (Langley representative must assist in adding, either by phone or secured email), percentages can be assigned, Social Security numbers required.
- Grace Period – 7 calendar days before automatic renewal.
- Credit Check – Soft pull when joining.
Credit Union Overview
Langley Federal Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 7.19% (excellent) based on December 31, 2022 data. In the past year, Langley FCU has increased its total non-brokered deposits by $669.34 million, an excellent annual growth rate of 19.17%. Please refer to our financial overview of Langley Federal Credit Union (NCUA Charter # 1261) for more details.
Langley Federal Credit Union was originally chartered in 1936 as the National Advisory Committee for Aeronautics (NACA) Laboratory Federal Credit Union. (Founded in early 1915, NACA was the predecessor of NASA.) Twenty-five NACA employees each deposited $1 to pay the charter fee, and the following month, the Credit Union opened its doors with assets totaling $275. With nearly 352,000 members and assets in excess of $5 billion, Langley FCU is currently the fourth largest credit union headquartered in Virginia and the 69th largest credit union in the country.
How the 22-Month Promotional Certificate Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com which are available nationwide and have minimum deposit requirements of $10k or less, only one credit union has a higher rate than currently offered on the Langley FCU 22-Month Promotional Certificate. The following table compares the 22-Month Promotional Certificate to the two highest-rate CDs from other banks and the two highest-rate CDs from credit unions.
| APY | CD Term (Early Withdrawal Penalty) | Credit Union/Bank |
|---|---|---|
| 5.50% | 24-35 Month CD (EWP=unknown) | Credit Human |
| 5.35% | 22-Month Promotional Certificate (EWP=180 days) | Langley Federal Credit Union |
| 5.15% | 27-Month High Yield CD via SaveBetter (EWP=180 days) | Sallie Mae Bank |
| 5.10% | 2-Year Bread Savings CD (EWP=180 days) | Bread Financial |
| 5.05% | 28-Month CD Special (EWP=180 days) | Pen Air Federal Credit Union |
The above information and rates are accurate as of 3/30/2023.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.
