Leominster Credit Union (MA) 9-Month CD Special Earns 2.40% APY

POSTED ON BY

Deal Summary: 9-month Term Share CD Special, 2.40% APY, $1k minimum deposit, offer ends September 30, 2019.

Availability: Residents of Franklin, Hampden, Hampshire, Middlesex, Norfolk, and Worcester Counties, Massachusetts.

Now through September 30, 2019, Leominster Credit Union (LCU) is offering a 9-month Term Share CD Special earning 2.40% APY. At the beginning of the month, LCU raised the rate on the 9-month CD Special, while lowering the rates on the 36-, 48-, and 60-month Term Share CDs. This has resulted in a rather unusual rate structure, with all four CDs now earning 2.40% APY. The 9-month Term Share CD Special can be opened with a minimum $1k deposit, with no stated balance cap.

As stated in the Terms and Conditions document, the Early Withdrawal Penalty reads as follows:

If your account has an original maturity of one year or less: The penalty we may
impose will equal 90 days dividends on the amount withdrawn subject to penalty.

Massachusetts Share Insurance

In addition to the NCUSIF insurance, deposits at Leominster Credit Union are also covered by the Massachusetts Share Insurance Corporation.

MSIC now fully insures excess shares and deposits above the federal insurance limit
of $250,000 at ALL of member credit unions. As a result of the new law, MSIC will now
fully insure excess shares and deposits without limits that exceed NCUSIF coverage.

Availability

Headquartered in Leominster (40 miles west of Boston), Leominster Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, or “have business” in the Massachusetts counties of Franklin, Hampden, Hampshire, Middlesex, Norfolk, or Worcester, eligible to join.

Joining LCU and/or opening a Term Share CD Special can be done online, or at any of seven full-service Massachusetts branches located in Clinton, Holden, Leominster (2), Sterling, and Worcester (2). There are also branches in two Worcester County high schools (Clinton and Holden) that are only open to students, faculty, and staff.

As stated on the Truth-in-Savings disclosure,

You must complete payment of one share ($25.00) in your Regular Share or Share Draft account as a condition of admission to membership. If the balance in your Regular Share or Share Draft account falls below $25.00, you may be terminated from membership immediately.

Credit Union Overview

Leominster Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.26% (excellent) based on June 30, 2019 data. In the past year, LCU has increased its total non-brokered deposits by $44.48 million, an excellent annual growth rate of 9.66%. Please refer to our financial overview of Leominster Credit Union (NCUA Charter # 66699) for more details.

Founded in 1953, Leominster Credit Union was the brainchild of several Leominster citizens, who recognized the need for a local financial institution where local residents could obtain small loans at reasonable rates. At first, LCU was open only one night a week, with the office located in a back room in of a local printing press. Leominster Credit Union has grown to become Massachusetts’ 15th largest credit union, with more than 49,000 members and assets in excess of $727 million.

How the Term Share CD Special Compares

When compared to 353 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available to residents within the FOM, Leominster Credit Union's 9-month Term Share CD Special APY currently shares the top spot with Taunton Federal Credit Union’s 9-month eCertificate Special APY.

The above rates are accurate as of 9/9/2019.

To look for the best CD rates, either nationwide state-specific, please refer to our CD Rates Table page.

Related Pages: Boston CD rates, 1-year CD rates

Comments


;ORRY
  |     |   Comment #3
9 MONTH SPECIAL CD RATE INFO IS OUTDATED. IT SHOULD BE REMOVED OR ADJUSTED.
Leominster CU (MA) Offers 27-Month CD Special
Availability: Residents of Franklin, Hampden, Hampshire, Middlesex, Norfolk, and Worcester Counties, Massachusetts.

Leominster Credit Union’s (LCU) 27-month Term Share CD Special (1.60% APY) was added to the product line a year ago, and its current APY has been in effect since September 2015. The minimum opening deposit is $1k, with no balance cap.

The 27-month Time Share CD Special is also available as an IRA (Traditional, Roth, and CESA) earning the same APY, with the same funding requirements.

As stated on the Truth in Savings page, the Early Withdrawal Penalty...

Continue Reading
Top 3-Year CD Rate at Leominster Credit Union in MA - Local Only

If a 5-year term is too long for you, a 3-year CD may be a better maturity length. Unfortunately, most 3-year CD rates are under 2.00%. That's not the case with Leominster Credit Union which was one of the very few institutions to raise CD rates in February. Its 3-year CD and IRA CD have a 2.00% APY. Its 5-year CD and IRA CD rate remained the same in February, but they remain competitive with a 2.25% APY. Minimum deposit is $1,000. These rates are listed in the credit union's...

Continue Reading
4.01% Reward Checking Account at Leominster Credit Union in MA - Local Only
Update 11/22/09: The 4.01% APY is guaranteed until 12/31/09.

Leominster Credit Union has a reward checking account that it calls Remarkable Rewards Checking. The account offers the following rates and features if certain monthly requirements are met:
  • 4.01% APY on balances up to $25,000
  • 1.01% APY on the portion of the balance over $25,000
  • 0.10% base rate if qualifications are not met
  • ATM fee refunds without limit
The monthly requirements include:
  • 10 debit card purchases
  • 1 direct deposit or auto pay
  • receive e-Statements
Additional features of the account regardless of the monthly requirements include:
  • $25 minimum initial deposit
  • No minimum balance requirement
  • No...





Continue Reading
3.00% 30-Month CD & 2.50% 18-Month CD at Leominster Credit Union in MA - Local Only
Leominster Credit Union continues to offer very competitive mid-term CD and IRA CD rates. Below is a list of these rates based on the credit union's rate table as of 10/06/09.
  • 2.50% APY 18 month
  • 2.75% APY 24 month
  • 3.00% APY 30 month
  • 3.10% APY 36 month
Minimum deposit is $1,000.

This credit union has a history of competitive CD rates. My last post on this credit union was in early August when it was offering a 2% 7-month CD. The credit union also offers a reward checking account that currently pays 4.01% APY on balances...


Continue Reading
2.00% 7-Month CD & 2.50% 18-Month CD at Leominster Credit Union in MA - Local Only
Leominster Credit Union is offering a special 7-month CD with a 2.00% APY. Minimum deposit is $1,000. Some of the credit union's standard CDs are also competitive. These include a 2.50% APY 18-month CD and a 2.75% APY 2-year CD. The standard CDs are also available in an IRA. These rates are listed in the credit union's rate table as of 8/04/09.

This credit union has a history of competitive CD rates. My last CD post on this credit union was in March when it was offering a 3% 13-month special...

Continue Reading

More Past Offers



The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.