The end of July saw Lower Valley Credit Union (LVCU) increasing the rates on its 36-month Share Certificate (1.76% APY) and 60-month Share Certificate (2.27% APY). The minimum opening deposit is $500, with no balance cap.
Both Share Certificates are also available as IRAs (Traditional and Roth) earning the same APY, with the same funding requirements.
As stated in the Truth-In-Savings Disclosure document, the Early Withdrawal Penalty reads as follows:
If your account has an original maturity of more than one year: The penalty we may
impose will equal 90 days dividends on the amount withdrawn subject to penalty.
Headquartered in Sunnyside, Lower Valley Credit Union’s field of membership (like the vast majority of credit unions in Washington) includes everyone “who lives, works, worships, or goes to school within a school district located in the State of Washington.”
Membership is also offered to the relatives of those previously mentioned.
Note: While membership in LVCU is open to all Washington State residents, CSR confirmed that an in-person visit is required complete the application process and opening any type of account.
Credit Union Overview
Lower Valley Credit Union (NCUA Charter # 68304) has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 7.84% (excellent) based on March 31, 2016 data. In the past year, LVCU has increased its total deposits by $5.03 million, an excellent annual growth rate of 5.99%. Please refer to our financial overview of Lower Valley Credit Union for more details.
Lower Valley Credit Union began in 1952 in the basement of a local Catholic Church. With 25 original charter members depositing $5 each, the Credit Union was aptly named, "Catholic Credit Union." In 1952, the State of Washington had only two Catholic Dioceses (Seattle and Spokane), but a new diocese was formed in Yakima in 1958. This resulted in a ruling that allowed for only one credit union within the same diocese. Consequently, the existing credit union in Yakima retained the Catholic Credit Union name, and through re-incorporation, Lower Valley Credit Union was established.
How the CDs Compare
When compared to the 232 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available to residents of Washington State, Lower Valley Credit Union’s 36-month Share Certificate APY currently ranks first.
When compared to the 197 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available to residents of Washington State, Lower Valley Credit Union’s 60-month Share Certificate APY currently ranks third.
The above rates are accurate as of 8/2/2016.