Linn Area Credit Union (IA) Adds 12-month CD Special, 2.85% APY
Linn Area Credit Union (LACU) is currently offering 2.85% APY on two CD Specials – 12-month and 18-month. (Obviously, the 12-month is the more competitive CD.) These limited-time CD Specials require a minimum opening deposit if $1k, with no stated balance cap.
Both CD Specials are available as IRAs (Traditional, Roth and CESA ), earning the same APY with the same funding requirement.
As stated on the Savings Deposit Rates page, the Early Withdrawal Penalty reads as follows:
Penalty for early withdrawal on up-to-36-month certificates of
deposit is 180 days loss of interest on the amount withdrawn.
Headquartered in Cedar Rapids, Iowa, Linn Area Credit Union's field of membership (FOM) includes individuals who live or work in any of the following 22 eastern Iowa counties: Benton, Black Hawk, Bremer, Buchanan, Cedar, Clayton, Clinton, Delaware, Dubuque, Fayette, Iowa, Jackson, Johnson, Jones, Keokuk, Linn, Louisa, Muscatine, Poweshiek, Scott, Tama or Washington.
Relatives of current LACU members are eligible for membership, regardless of residency status.
For example, if you live in Florida (we admit, we’re a wee bit jealous)
but your Brother Bob is a member of LACU, you’re eligible!
Joining LACU can be done online, or in person at any of five Iowa branches, which are located in Cedar Rapids (4) and Marion. Opening a CD Special requires an in-branch visit.
A minimum deposit of $5 in a savings account “gives you an ownership share of the Credit Union.”
LACU participates in the MoneyPass ATM network, giving LACU members access to,
thousands of additional machines available in the area and across the country that
are surcharge-free for our members – just look for the MoneyPass network logo.
Credit Union Overview
Linn Area Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 7.07% (excellent) based on December 31, 2018 data. In the past year, LACU increased its total non-brokered deposits by $10.22 million, an excellent annual growth rate of 3.39%. Please refer to our financial overview of Linn Area Credit Union (NCUA Charter # 63602) for more details.
Established in 1935 as the Cedar Rapids Teachers' Credit Union, Linn Area Credit Union was founded by eleven teachers who each contributed $5. For 31 years, membership was limited to teachers, but in 1966 membership was opened to all Cedar Rapids school employees. That FOM change began 50 years of steady growth and expansion, including a charter change, 2 mergers, and 3 name changes. Linn Area Credit Union is currently Iowa’s ninth largest credit union, with more than 25,300 members and assets in excess of $476 million.
How the CD Special Compares
When compared to 267 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available with the FOM, Linn Area Credit Union’s 12-month CD Special currently ranks second.
The above rates are accurate as of 5/27/2019.
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD Rates Table page.