McGraw-Hill FCU Has New 24- and 60-month Promo Certificates

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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.

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

    1.89% APY

    2.09% APY

    2.29% APY

    24-month Promo CD

    1.29% APY

    1.39% APY

    1.59% APY

According to CSR, the Early Withdrawal Penalty for either Promo Certificate is eight months 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, 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.

Joining McGraw-Hill FCU and/or opening a Promo Certificate can be done online using the Express Application, or 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 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.

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

Related Pages: New York CD rates, Philadelphia CD rates, 5-year CD rates, nationwide deals

Comments
gregk
gregk   |     |   Comment #1
Astonishing. This is a "promo"? Not much over 2% for a 5 year commitment? Will a single member here admit to being even enticed by this laughable offer, let alone investing funds? Why would anyone do it? Can someone suggest a plausible rationale? Ken dutifully writes up this daily crapola, but is anyone reading past the rates they see in the headline?
Ken Tumin
Ken Tumin   |     |   Comment #2
It's not one of their best promos, but the 5-year CD is competitive as can be seen in the comp table. The 8mo EWP also helps.
gregk
gregk   |     |   Comment #3
Despite all the agreement with you (thumbs up) no one here has yet suggested they'll be investing funds, or even offered any rationale for the wisdom of doing so in the current (rising rate) financial environment. If the Marlins play the Padres it may be a quite competitive match but still a horrible game between losers.
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