Recently, the Linn Area Credit Union (LACU) raised the rate on its 33-month CD Special (2.00% APY).
The 33-month CD requires a minimum opening deposit of $1K and has no maximum balance cap. It’s also available as an IRA (Traditional, Roth and CESA ) earning the same APY, with the same funding requirement.
As stated on the CD Rates page, the Early Withdrawal Penalty reads as follows:
Penalty for early withdrawal on 3 through 36 month certificates of deposit is 180 days loss of interest on the amount withdrawn.
Linn Area Credit Union is headquartered in Cedar Rapids and offers membership to individuals who live or work in any of these Iowa counties: Benton, Black Hawk, Buchanan, Cedar, Clayton, Clinton, Delaware, Dubuque, Fayette, Iowa, Jackson, Johnson, Jones, Keokuk, Linn, Louisa, Muscatine, Poweshiek, Scott, Tama or Washington.
In addition, if you are a relative of a current LACU member, you are eligible for membership.
Credit Union Overview
Linn Area Credit Union has an overall health grade of "B" at DepositAccounts.com, with a Texas ratio of 9.58% (excellent) based on December 31, 2014 data. LACU has an average capitalization level of 9.33%, a result of holding $338.71 Million in assets, with $31.6 Million in equity. Please refer to our financial overview of Linn Area Credit Union for more details.
Linn Area Credit Union (NCUA Certificate # 63602) began in 1935 as the Cedar Rapids Teachers’ Credit Union, when 11 teachers each contributed $5 to form the original deposit. For 31 years, membership was limited to teachers, but in 1966 membership was opened to all Cedar Rapids school employees. That field of membership change began a steady growth and expansion, which over the next 50 years included a charter change, 2 mergers and 3 name changes. Today, Linn Area Credit Union has over 24,000 members and assets in excess of $338 Million.
How the CD Compares
When compared to other similar length of term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available to Iowa residents, Linn Area Credit Union’s 33-month CD Special currently is definitely competitive.
The above rates are accurate as of 5/21/2015.
To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.