Now through the end of November, McGraw-Hill Federal Credit Union (MHFCU) is offering competitive rates on three CD Promos: 19-month (3.00% APY), 60-month (3.50% APY), and 14-month (2.50% APY), ranked in competitive order. The minimum deposit for any of the CD Promos is $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 $1 million.
The CD Promos are also available as IRAs (Traditional, Roth, CESA), earning the same APYs with the same funding requirements.
In an email exchange with an MHFCU official, I learned the following:
Headquartered in East Windsor, New Jersey, McGraw-Hill Federal Credit Union offers membership to the employees (and their family members) of more than 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 $10 entitles you to MHFCU membership.
Credit Union Overview
McGraw-Hill Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 7.13% (excellent) based on June 30, 2018 data. In the past year, MHFCU has increased its total non-brokered deposits by $23.27 million, an excellent annual growth rate of 8.1%. 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’s original field of membership (FOM) included 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 FOM. MHFCU is currently the fifth largest credit union in New Jersey, with more than 22,600 members and assets in excess of $420 million.
How the CD Promos Compare
When compared to 169 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are nationally available, McGraw-Hill Federal Credit Union's 19-month CD Promo APY currently ranks second.
When compared to 185 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are nationally available, McGraw-Hill Federal Credit Union's 60-month CD Promo APY currently ranks second.
The above rates are accurate as of 10/25/2018.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.