Linn Area Credit Union (IA) Offers Competitive 33-Month CD Special

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Availability: 21 eastern Iowa counties

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.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.00%$1k-Linn Area Credit Union33 Month CD Special
2.00%$1k-Linn Area Credit Union33 Month IRA Special (Traditional, Roth, CESA)
Accounts mentioned in this post. Rates as of August 30, 2016.

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Penalty for early withdrawal on 3 through 36 month certificates of deposit is 180 days loss of interest on the amount withdrawn.

Availability

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.

While joining LACU can be done online, or in person at any of five Iowa branches located in Cedar Rapids (4) and Marion, opening a CD requires a visit to any of the five branches.

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.

Comments
2.60% 15-Month CD at Linn Area Credit Union in Iowa - Local Only
Linn Area Credit Union is offering a special 2.60% APY 15-month CD. Minimum deposit is $1,000. The rate is listed at the credit union's rate table as of 6/14/09.

The credit union has been offering a high yield reward checking account for over a year that pays 5% APY on balances up to $25,000 if the typical reward checking requirements are met (see post).

Membership is open to anyone who lives or works in Linn, Buchanan, Delaware, Jones, Cedar, Johnson, Iowa and Benton Counties. Membership requires a minimum deposit of $5 in...



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2.90% 15-Month CD at Linn Area Credit Union in Iowa - Local Only
Linn Area Credit Union is offering a special 15-month CD with a 2.90% APY. Minimum deposit is $1,000. The special is listed at the credit union's CD rate page as of 5/15/09.

The credit union continues to offer a high-yield reward checking account. As of 5/15/09, the rate is 5% APY for balances up to $25K. I first posted on this account exactly a year ago.

Membership is open to anyone who lives or works in Linn, Buchanan, Delaware, Jones, Cedar, Johnson, Iowa and Benton Counties. Membership requires a minimum deposit...



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5.00% Reward Checking Account at an Iowa CU (Linn Area)
Linn Area Credit Union is offering a reward checking account that pays 5.00% APY on balances up to $25,000 (0.30% over) and refunds all ATM fees if online banking has been activated and if the following monthly requirements are met:
  • 12 signature-based debit card purchases
  • one direct deposit
  • receive e-statements
There are no monthly service charges and no minimum balance requirements.

Update 7/04/09: A reader has reported that they don't waive the requirements for the first month. Banks and credit unions often waive the first month requirements since it can take time for the customer...


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