McGraw-Hill FCU Introduces 20-Month Promo CD

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Deal Summary: 20-month Promo CD (2.40% APY), $1k min/$1m max, new money.

Availability: Easy membership requirement

In early March, McGraw-Hill Federal Credit Union (MHFCU) added three new, promotional-rate CDs, which were the first competitive products MHFCU had offered in many months. The Credit Union has just added an additional Promo CD: a 20-month earning 2.40% APY. All the Promos CD require a minimum deposit of $1k of new money, which is defined as funds that have “not been on deposit with MHFCU for more than 30 calendar days.” The maximum deposit is capped at $1 million.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.40%$1k$1mMcGraw Hill Federal Credit Union30 Month Promo CD (New Money)
2.40%$1k$1mMcGraw Hill Federal Credit Union20 Month Promo CD (New Money)
2.25%$1k$1mMcGraw Hill Federal Credit Union18 Month Promo CD (New Money)
1.75%$1k$1mMcGraw Hill Federal Credit Union12 Month Promo CD (New Money)
Rates as of July 16, 2018.

The Promo CDs are also available as IRAs (Traditional, Roth, CESA), earning the same APYs and having the same funding requirements.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.40%$1k$1mMcGraw Hill Federal Credit Union30 Month Promo IRA (New Money) (Traditional, Roth, CESA)
2.40%$1k$100kMcGraw Hill Federal Credit Union20 Month IRA Promo (New Money) (Traditional, Roth, CESA)
2.25%$1k$1mMcGraw Hill Federal Credit Union18 Month Promo IRA (New Money) (Traditional, Roth, CESA)
1.75%$1k$1mMcGraw Hill Federal Credit Union12 Month Promo IRA (New Money) (Traditional, Roth, CESA)
Rates as of July 16, 2018.

According to the fine print on the promotion page,

20-month promo certificate renews to a non-promotional
24-month term and rate after the five (5) day grace period.

N.B. - the grace period is only five days, definitely at the low end for grace periods. The current rate for the non-promotional 24-month CD is 0.75% APY. Caveat emptor.

According to CSR, the Early Withdrawal Penalty for the 20-month CD Promo is eight months of dividends.

Availability

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, MHFCU offers easy membership through the VOICE Foundation, which promotes and manages the Credit Union's charitable activities and participates in financial literacy education. A one-time donation of $15 entitles you to Credit Union membership.

Joining MHFCU and/or opening a CD can be done online, or at either of two full-service branches located in East Windsor (New Jersey) and New York City.

Credit Union Overview

McGraw-Hill Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.04% (excellent) based on December 31, 2017 data. In the past year, MHFCU has increased its total non-brokered deposits by $19.87 million, an excellent annual growth rate of 7.42%. 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 its membership to include outside companies, and now has more than 120 businesses and organizations in its field of membership. MHFCU is currently the fifth largest credit union in New Jersey, with more than 22,100 members and assets in excess of $410 million.

How the Promo CD Compares

When compared to the 156 similar length-of-term CDs tracked by DepositAccounts.com, that require a similar minimum deposit and are available nationally, McGraw-Hill Federal Credit Union's 20-month Promo CD APY currently ranks third.

The above rates are accurate as of 5/8/2017.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: New York CD rates, Philadelphia CD rates, 1-year CD rates, nationwide deals

Comments
McGraw-Hill FCU Adds New 18- And 30-Month CDs
Deal Summary: 18-Month Promo CD (2.25% APY), 30-month Promo CD (2.40% APY), $1k min/$1m max, new money.

Availability: Easy membership requirement

It’s been several months – eight to be exact – since I last wrote about McGraw-Hill Federal Credit Union (MHFCU). That changed yesterday with the addition of two new CDs with promotional rates: 18-Month CD (2.25% APY) and 30-month CD (2.40% APY). Both Promo CDs require a minimum deposit of $1k of new money, which is defined as funds that have “not been on deposit with...

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UPDATE: The 24- and 60-month promotional certificates have expired.

Deal Summary: 60-Month Promo Certificate, up to 2.29% APY; 24-month Promo Certificate, up to 1.59% APY; new money required.

Availability: Easy membership requirement

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.

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Deal Summary: 19-Month CD Special, up to 1.59% APY; 33-month CD Special, up to 1.79% APY; new money required.

Availability: Easy membership requirement

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McGraw-Hill FCU Adds Ascend Account (Money Market)

Deal Summary: Ascend Account (money market account); tiered rates; 1.25% APY, $75k+; new money required; rates guaranteed through August 31, 2017.

Availability: Easy membership requirement

McGraw-Hill Federal Credit Union (McGraw-Hill FCU) has just added a new money market account, the Ascend Account, which has tiered APYs based on daily deposit balances ($5k+, 1.00% APY; $20k+, 1.10% APY; $75k+, 1.25% APY). The minimum opening deposit is $5K of new money, defined as funds that have “not been on deposit with McGraw-Hill FCU for more than 30 days,” with a $500k...

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McGraw-Hill FCU Introduces 17-Month Promo CD

Deal Summary: 17-Month Promotional Certificate, 1.50% APY ($50k min), 1.40% APY ($20k min), 1.20% APY ($1k min), new money required.

Availability: Easy membership requirement

McGraw-Hill Federal Credit Union’s (McGraw-Hill FCU) Holiday Money Market Account (guaranteed 1.05% APY) will expire on April 30, 2017, but McGraw-Hill FCU has just announced the addition of a 17-month Promotional Certificate, which has tiered APYs and requires new money. In this instance, new money is defined as funds that have not been on deposit "for more than 30 business days.”

  • 1.50% APY ($50k minimum)
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