UPDATE: The 24- and 60-month promotional certificates have expired.
Now through June 30, 2017, McGraw-Hill Federal Credit Union (McGraw-Hill FCU) is offering a 60-month and a 24-month Promo Certificate, with tiered APYs. Both Promo Certificates require new money, which is defined as funds that have not been on deposit "for more than 30 business days.” There is a maximum deposit cap of $1 million.
Both Promo Certificates are also available as IRAs (Traditional, Roth, CESA) with the same tiered APYs and funding requirements.
The tiered APYs are as follows:
Deposit Level Tier
$1k minimum Tier 1
$20k minimum Tier 2
$50k minimum Tier 3
60-month Promo CD
24-month Promo CD
According to CSR, the Early Withdrawal Penalty for either Promo Certificate is eight months dividends.
Headquartered in East Windsor, New Jersey, McGraw-Hill Federal Credit Union offers membership to the employees (and their family members) of 100+ SEGs, including the McGraw-Hill Company.
If you don’t qualify for membership through any of the SEGs, McGraw-Hill FCU offers easy membership through their charitable arm, the VOICE Foundation, which promotes and manages the Credit Union's charitable activities and participates in financial literacy education. A one-time donation of $25 entitles you to Credit Union membership.
Credit Union Overview
McGraw-Hill Federal Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas ratio of 4.93% (excellent) based on March 31, 2017 data. McGraw-Hill FCU has an excellent capitalization level of 11.57%, a result of holding $388.25 million in assets with $44.92 million in equity. Please refer to our financial overview of McGraw-Hill Federal Credit Union (NCUA Charter # 861) for more details.
Originally chartered in 1935, McGraw-Hill Federal Credit Union served the employees of the McGraw-Hill Companies (book publishing) in New York City. Since then, the Credit Union has expanded their membership to include outside companies, and now has over 120 businesses and organizations in its field of membership. McGraw-Hill FCU is currently the fifth largest credit union in New Jersey, with more than 22,500 members and assets in excess of $366 million.
How the Promo CD Compares
When compared to the 191 similar length-of-term CDs tracked by DepositAccounts.com, that are available nationally, McGraw-Hill Federal Credit Union's 60-month Promo Certificate APY currently ranks in the top seven, regardless of minimum deposit.
The above rates are accurate as of 6/1/2017.