UPDATE: 5/19/17 - The 19- and 33-month CD Specials will expire on May 22, 2017.
McGraw-Hill Federal Credit Union’s (McGraw-Hill FCU) 17-month Promotional Certificate has been removed from the product line, but the Credit Union has added a 19-month and a 33-month CD Special with tiered APYs. Both CD Specials require new money, which is defined as funds that have not been on deposit "for more than 30 business days.”
Both CD Specials 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
19-month CD Special
33-month CD Special
According to CSR, the Early Withdrawal Penalty for either CD Special 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 $10 provides for a single, person Credit Union membership.
McGraw-Hill FCU has added a Contact Us form to assist in opening these CD Specials, or you can begin the process by calling 1.800.226.6428. Funding either of the CD Specials can be done by mail, mobile deposit, or in person at either of two 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 "B+" at DepositAccounts.com, with a Texas Ratio of 6.05% (excellent) based on December 31, 2016 data. McGraw-Hill FCU has an excellent capitalization level of 12.21%, a result of holding $366.71 million in assets with $44.78 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 5th largest credit union headquartered in New Jersey, with more than 22,500 members and assets in excess of $366 million.
How the CD Specials Compare
When compared to the 158 similar length of term CDs tracked by DepositAccounts.com that are available nationally, McGraw-Hill FCU’s 19-Month CD Special Tier 3 APY currently ranks third.
When compared to the 206 similar length of term CDs tracked by DepositAccounts.com that are available nationally, McGraw-Hill FCU’s 33-Month CD Special Tier 3 APY currently ranks in the top seven.
The above rates are accurate as of 4/17/2017.