McGraw-Hill FCU Adds New 18- And 30-Month CDs

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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 MHFCU for more than 30 business 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 Union30 Month Promo IRA (New Money) (Traditional, Roth, CESA)
2.25%$1k$1mMcGraw Hill Federal Credit Union18 Month Promo CD (New Money)
2.25%$1k$1mMcGraw Hill Federal Credit Union18 Month Promo IRA (New Money) (Traditional, Roth, CESA)
Rates as of April 25, 2018.

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

According to the fine print on the promotion page,

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

Note that the grace period is only five days, which is at the low-end for grace periods. The current APY for a non-promotional 18-month CD is 0.60% APY. Do not be caught unawares.

According to CSR, the Early Withdrawal Penalty for either CD is eight months of dividends.

S3 Prime Savings

MHFCU’s S3 Prime Savings account currently earns 1.45% APY on balances of $100+. While there is no monthly service fee, a $10 fee will be assessed for each withdrawal or transfer beyond the six allowed per month. The minimum opening deposit is $100.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.45%$100-McGraw Hill Federal Credit UnionS3 Prime Savings
Rates as of April 25, 2018.

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 FOM. 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 CD Compares

When compared to the 158 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 18-month Promo CD APY currently ranks third.

When compared to the 199 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 30-month Promo CD APY currently ranks fifth. When compared to only 30-month CDs, the APY currently ranks first.

The above rates are accurate as of 3/8/2017.

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, 5-year CD rates, nationwide deals

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

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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McGraw-Hill FCU Has New 19- and 33-month CD Specials

UPDATE: 5/19/17 - The 19- and 33-month CD Specials will expire on May 22, 2017.

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

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...

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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)
  • 1.40% APY...

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McGraw-Hill FCU Debuts Holiday Money Market With Promo Rate
Availability: Easy membership requirement

Last year at this time, McGraw-Hill Federal Credit Union (McGraw-Hill FCU) offered a competitive guaranteed APY (through April 30, 2016) on its Optimizer Money Market Account. While Optimizer MMA is still part of the Credit Union’s product line, the rate has fallen to 0.50% APY.

McGraw-Hill FCU’s current promotion is a Holiday Money Market Account that guarantees an APY of 1.05% through April 30, 2017, on balances between $5k and $250k. The minimum opening deposit is $5K of new money, defined as funds that have...

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