UPDATE 5/23/2018: 10-month Tax Time Certificate Special is now available through May 31, 2018.
UPDATE 5/2/2018: 10-month Tax Time Certificate Special is now available through May 10, 2018.
Now through April 30, 2018, Market USA Federal Credit Union (Market USA) is featuring a 10-month Tax Time Certificate Special, earning a 2.50% Preferred APY that includes a 0.10% premium for activated e-Statements. The APY will decrease by 0.10% if the e-statements are discontinued at any time during the term of the CD. The minimum opening deposit is $500 of new money, and the maximum deposit is $10k. The $10k cap limits the amount that can be earned in this Certificate Special to about $208.
The Tax Time Certificate Special was unveiled early last week, with an initial 1.95% APY that lasted about five days before it was raised to the current 2.50% APY.
As stated in Market USA’s Terms and Conditions document, the Early Withdrawal Penalty reads as follows:
For certificates with terms of one year or less, the penalty is the loss of 90 days dividends.
VIP Checking Platinum Tier - Another Nationally-Available Reward Checking Account
Six months ago, Market USA raised the rate on its VIP Checking Platinum Tier to 3.01% APY on qualifying balances up to $15k. Qualifying balances of $15k+ earn the “APY paid on regular checking accounts,” which is currently 0.05% APY.
Last September, when I published news of this rate increase in a blog post, membership was primarily limited to residents of several eastern states. Since that time, the field of membership has expanded to allow people from any state to join, making the VIP Checking Platinum Tier a nationally-available reward checking account.
Monthly Qualification Requirements
- At least $250 in direct deposits
- At least 12 debit card purchases (minimum $5)
- At least three bill payments
- Be enrolled in eStatements
The VIP Checking account has no minimum balance requirement, no monthly maintenance fee, or per check charge. There is a limit of one VIP Checking account per member/Social Security number. While there is no reimbursement for foreign ATMs, Market USA is a member of the CO-OP network, giving its members access to more than 30,000 surcharge-free ATMs nationwide.
Headquartered in Laurel, Maryland, Market USA Federal Credit Union’s field of membership (FOM) provides a way for almost any U.S. citizen or resident alien to join.
Easy Membership: Membership in the Market USA Cares Foundation (minimum $10 donation) qualifies for Credit Union membership.
Residency: Residents of Georgia, North Carolina, South Carolina, and Tennessee are eligible to join Market USA through the Carolina Chapter of the American Consumer Council (ACC), and residents of Maryland, Pennsylvania, Virginia, Washington D.C., and West Virginia are eligible to join through the Maryland ACC Chapter.
If joining Market USA through ACC, please put ACC - SC or ACC-MD as the Group you are affiliated with. By doing so, when you join Market USA, you will also become a member of ACC at no cost to you.
Family Relationship: Immediate family (spouse, children, parents, grandparents, grandchildren, siblings) or household members of existing Market USA members are also welcome to apply.
Like other credit unions, Market USA subscribes to the “once a member, always a member” rule, but according to the fine print on the “Why Join Market USA?” page,
You must complete at least one transaction per year for your account to remain active.
Sometime in the last six months, Market USA added a membership online application, which can also be used to open a Tax Time Certificate Special. If you prefer a brick-and-mortar experience Market USA has three branch locations in Laurel and Landover, Maryland, and Greenville, South Carolina.
Credit Union Overview
Market USA Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.51% (excellent) based on December 31, 2017 data. In the past year, the Credit Union has increased its total non-brokered deposits by $2.64 million, an excellent annual growth rate of 3.37%. Please refer to our financial overview of Market USA Federal Credit Union (NCUA Charter # 9003) for more details.
Market USA Federal Credit Union was originally established in 1953 as Giant Food Department Stores Federal Credit Union. In the past 65 years, the Credit Union has gone through three name changes, three mergers, and a FOM expansion, which has resulted in a significant presence throughout the Southeast. Market USA currently has more than 17,300 members and assets in excess of $103 million.
How the Tax Time Certificate Special Compares
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are nationally available, Market USA Federal Credit Union's 10-month Tax Time Certificate Special APY currently ranks first.
The above rates are accurate as of 3/29/2018.
To search for the best CD rates, both nationwide and state-specific, please refer to our CD Rates Table page.