Meijer Credit Union Offers Rate-Leading 12-Month CD Special Statewide


Deal Summary: 12-month CD Special, 5.65% APY, $500 minimum/$100k maximum deposit, new money.

Availability: All residents of the State of Michigan.

In celebration of 65 years of service, Meijer Credit Union (MCU) is offering a 12-month CD Special earning an excellent 5.65% APY. A 12-month CD Special can be opened with a minimum $500 deposit and is capped at $100k. New money is required and is defined simply as funds not currently on deposit with MCU.

12-month CD Special is also available as an IRA CD Special (Traditional, Roth), earning the same APY with the same deposit requirements.

Early Withdrawal Penalty

According to CSR, the Early Withdrawal Penalty (EWP) is a reasonable 90 days of dividends, but partial withdrawals are not allowed: the 12-month CD Special can only be closed early, with the EWP applying to the entire balance. If a closure occurs within 90 days of opening, the principal will be reduced.


Headquartered in Grand Rapids, Michigan, Meijer Credit Union offers membership to all those who live, work, worship, or attend school in any of Michigan’s 83 counties.

Employees and pensioners of Meijer’s Inc., and “licensee employees permanently assigned to work in Meijer units (excluding those individuals having credit union service available by virtue of union affiliation or employer-sponsored service)” are also eligible to join.

Immediate family members of an individual who meets the membership requirements also qualify for membership.

Account Opening

Joining MCU can be done online or at the sole Michigan branch, located on Gaynor Avenue NW in Grand Rapids.

A deposit of just $5 is all it takes to open a Regular Share Savings account, which opens the door to your membership at Meijer Credit Union. Plus, if you maintain an aggregate account balance of $50 or more, we'll waive your monthly service fee.

A CD Special cannot be opened online, but must be opened in-branch or by calling or texting a member service representative at 616.784.4822. You can also send a message using the Meijer CU “Contact Us” form to start the application process.

Funding and Other Details

The following information is from the MCU website and a conversation with a CSR responsible for opening new CDs.

  • Funding – Wire, check, or internal transfer. Funds must be on deposit with MCU before a CD Special can be opened.*
  • CO-OP Shared Branch Participate – Yes.
  • Ownership – Individual, joint, or trust.
  • Dividends – Compounded/credited monthly and can be withdrawn penalty-free.
  • Maturing Funds – Internal transfer to a Regular Share Savings account.
  • Beneficiaries – Unlimited and percentages can be assigned. Social Security numbers are required.
  • Grace Period – 10 calendar days.
  • Credit Check – Hard pull when joining.

*According to CSR, funds must be on deposit in a Regular Share Savings account before opening a CD. The easiest way to transfer funds in a Regular Share Savings account is through a CO-OP Shared Branch transaction. The Meijer CU “ACH-like” online banking platform limits transfers to $5k a day.

Credit Union Overview

Meijer Credit Union has an overall health grade of "B" at, with a Texas Ratio of 3.04% (excellent) based on December 31, 2022 data. In the past year, MCU’s total non-brokered deposits decreased by -$4.87 million, a below average annual growth rate of -5.82%. Please refer to our financial overview of Meijer Credit Union (NCUA Charter # 62393) for more details.

Established in 1958, the original Meijer Credit Union field of membership (FOM) was exclusive to “team members” who worked in Meijer Stores in West Michigan. (Meijer was founded in 1934 as a supermarket chain and is credited with pioneering the modern supercenter concept in 1962.) It was nearly 60 years before Meijer Credit Union expanded its FOM to include all Michigan residents. Although Meijer Credit Union is a small credit union (assets of $86 million and more than 15,500 members), it is one of only seven Michigan credit unions that have a statewide charter.

How the 12-Month CD Special Compares

When compared to similar length-of-term CDs tracked by that are available within the FOM and have minimum deposit requirements of $10k or less, no banks or credit unions have higher rates than currently offered on the Meijer Credit Union 12-month CD Special. The following table compares the 12-month CD Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 6/8/2023.

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

Related Pages: Grand Rapids CD rates, 1-year CD rates

  |     |   Comment #1
Time to sharpen my tele-worshipping skills...
  |     |   Comment #3
I'm sure there are those who've prayed that Whitmer would have been defeated - but most of them are already IN Michigan.
  |     |   Comment #5
Whitmer won because Michigan is doubling down the Californiacation. All of her staunch opponents moved to Florida in 2021, leaving an easy victory. lol
  |     |   Comment #2
I can get this one but here's my conundrum on all these short term deals. All I need is one more FED hike and corporate debt accounts are at 5.65% APY on liquid cash. That would be GM Right Notes, Ford Interest Advantage and Dominion Energy(DERI). So the real question is will we see another FED hike in the next 12 months and will rates stay high that long? My best guess is yes on both counts.
  |     |   Comment #6
I won't argue with you, deplorable_1, simply because I don't know. Inflation remains wildly high, certainly well over a supposed 2% "target", so clearly higher rates are needed. But there are powerful forces in this country opposed to additional hikes. This is akin to:

Plainly our borders need to be closed, for multiple reasons. But there are powerful forces in this country which favor the current open borders. So the borders are, and will remain, open.

In today's USA, common sense no longer prevails. The future for interest rates is unknowable.

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