Liberty Savings Fed Credit Union (NJ) Offers 3% APY On Long Term CDs

POSTED ON BY

Deal Summary: CDs – 60-, 66, and 72-month, all earning 3.00% APY, $5k minimum deposit.

Availability: Residents of Hudson County, New Jersey; 200+ northern New Jersey SEGs.

Liberty Savings Federal Credit Union (LSFCU) is currently offering 3.00% APY ($5k minimum) on three of its long-term CDs: 60-, 66-, and 72-month. The same three CDs can also be opened with a $500 deposit, earning a slightly lower 2.90% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.00*%$5k-Liberty Savings Federal Credit Union60 Month CD
OTHER TIERS: 2.90% $500 - $5k
3.00*%$5k-Liberty Savings Federal Credit Union66 Month CD
OTHER TIERS: 2.90% $500 - $5k
3.00*%$5k-Liberty Savings Federal Credit Union72 Month CD
OTHER TIERS: 2.90% $500 - $5k
Rates as of September 17, 2019.

All the CDs are also available as IRAs (Traditional), earning the same tiered APYs with the same funding requirements.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.00*%$5k-Liberty Savings Federal Credit Union60 Month IRA
OTHER TIERS: 2.90% $500 - $5k
3.00*%$5k-Liberty Savings Federal Credit Union66 Month IRA
OTHER TIERS: 2.90% $500 - $5k
3.00*%$5k-Liberty Savings Federal Credit Union72 Month IRA
OTHER TIERS: 2.90% $500 - $5k
Rates as of September 17, 2019.

The fine print on the Deposit Rates page states,

Bonus dividend of an additional 0.10% on any single
certificate of 2 years or more with a balance of $50,000 or more.

According to CSR, the Early Withdrawal Penalty for any of Term Certificate is “3 months of dividends, whether earned or not.”

Such a mild EWP could be useful if rates should start trending upward in the next four years. Using DA’s Early Withdrawal Penalty Calculator, you can see what the effective yields would be on a month-by-month basis. For example,

  • 2.52% APY – closed at 18 months
  • 2.64% APY – closed at 2 years
  • 2.77% APY – closed at 3 years
  • 2.83% APY – closed at 4 years

Availability

Headquartered in Jersey City, Liberty Savings Federal Credit Union offers membership to individuals who live, work, worship, or attend school in Hudson County in northern New Jersey (proof of residency required).

Employees, retirees, members, and volunteers of more than 200 SEGs are also eligible to join.

Joining Liberty Savings Federal Credit Union and/or opening a CD can be done at any of three New Jersey branches located in Jersey City (2) and Union City.

LSFCU’s Membership Application is available for download and can be returned in person to any of the three branch locations or by mail.

Employees of LSFCU’s SEGs may apply for membership through their company’s Human Resource department by speaking to the company’s representative responsible for employee benefits.

In order to be a “member-owner”, all members must open a
Savings account and maintain no less than $25.00 in the account.

There’s also a $10 membership fee, which will be waived for “persons affiliated with an employer or organizational partner”, i.e., an SEG.

Two fees to be aware of: a $25 early termination fee for accounts closed within 12 months of opening and a $10 termination fee when an account is closed after 12 months of opening. In other words, leaving LSFCU will incur a fee.

In addition to participating in the CO-OP Shared Branching and ATM networks, LSFCU is a member of the Allpoint ATM Network.

With your Liberty Savings FCU account number and your picture ID, you can go to a listed Shared Branch service center and make deposits, withdrawals and/or payment to your Visa card or loans as easily as if you were standing in a Liberty Saving’s FCU lobby.

Credit Union Overview

Liberty Savings Federal Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas ratio of 8.50% (excellent) based on June 30, 2019 data. LSFCU has an excellent capitalization level (14.07%), the result of holding $95.43 million in assets with $13.42 million in equity. Please refer to our financial overview of Liberty Savings Federal Credit Union (NCUA Charter # 7184) for more details.

During the course of my research on any given credit union, I frequently come across phrases like “organized by a few employees”, or “established by a group of local businessmen.” In the case of Liberty Savings Federal Credit Union, the founding members were husband and wife, William and Catherine Miller. While attending New York University, Mr. Miller had written a doctoral thesis on the history of the credit union movement. An employee of the Jersey City public school system, Miller recognized the need for a credit union for his fellow teachers. Putting his theoretical knowledge to work and offering free membership to school employees through Hudson County, Miller established the Hudson County School Employees Federal Credit Union in 1951. In 68 years, LSFCU rebranded twice and expanded the FOM to include many SEGs. LSFCU is currently the 28th largest credit union in New Jersey, with more than 21,000 members and assets in excess of $95 million.

How the CDs Compare

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available to northern New Jersey residents, Liberty Savings Federal Credit Union’s 60-Month CD APY currently shares the top spot with four national easy membership credit unions.

Interest RateCD Length of TermCredit Union/Bank
3.00% APY60-Month Term CDLiberty Savings Federal Credit Union
2.98% APY60-Month CertificateState Department Federal Credit Union
2.95% APY60-Month CDPen Air Federal Credit Union

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available to northern New Jersey residents, Liberty Savings Federal Credit Union’s 72-Month CD currently ranks first.

Interest RateCD Length of TermCredit Union/Bank
3.00% APY72-Month CDLiberty Savings Federal Credit Union
2.80% APY60- 71 Month CDChartway Federal Credit Union
2.50% APY6-Year High-Yield CDGoldman Sachs Bank

The above rates are accurate as of 9/17/2019.

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

Related Pages: New York CD rates, 5-year CD rates

Comments
Human
Human   |     |   Comment #1
Ken, Bank of Little Rock, in Arkansas is still offering 5 year CD with the rate of 3.04% for minimum balance of $500.00. The CSR informed me this is available for any one in the state of Arkansas.
Carpline
Carpline   |     |   Comment #2
I just called and was told by the Manager of the one of the branches that CDs must be opened in person. Any Arkansas resident can open a CD, but they have to come into a branch.
Liberty Savings FCU (NJ) Raises Rate On 72-Month CD
Availability: Residents of Hudson County, New Jersey; 170+ northern New Jersey SEGs.

Liberty Savings Federal Credit Union (LSFCU) recently raised the rate on its 72-month Term Certificate, with a minimum $500 deposit earning 2.00% APY and a minimum $5k deposit earning 2.10% APY.

The 72-month Term Certificate is also available as an IRA (Traditional) earning the same APYs, with the same funding requirements.

The fine print on the Deposit Rates page states,

Bonus dividend of an additional 0.10% on any single
certificate of 2 years or more with a balance of...
Continue Reading
Top Long-Term CD Rates at Liberty Savings in New Jersey - Local Only

Liberty Savings Federal Credit Union is offering several competitive long-term CD rates. The best ones include a 2.85% APY 6-year CD, a 2.80% APY 5-year CD and a 2.40% APY 4-year CD. Minimum deposit is $5,000. An extra 0.10% rate is added for a $50,000 minimum balance for CD terms of at least 2 years. These rates are listed in the credit union's certificates rates page as of 9/21/2011.

Membership at Liberty Savings FCU is open to persons who live, work, worship, or attend school in Hudson County, New Jersey. Please...

Continue Reading
Competitive Long-Term CD Rates at Liberty Savings FCU in NJ - Local Only

Liberty Savings Federal Credit Union is offering several competitive long-term CD rates. The best ones include a 3.00% APY 6-year CD, a 2.90% APY 5-year CD and a 2.65% APY 4-year CD. Minimum deposit is $5,000. An extra 0.10% rate is added for a $50,000 minimum balance for CD terms of at least 2 years. These rates are listed in the credit union's certificates rates page as of 10/24/2010.

As a comparison, the best 5-year CD yield available from an internet bank is 2.75% at Sallie Mae Bank.

Membership at Liberty Savings...



Continue Reading


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.