Member One Federal Credit Union (Member One) is currently offering 2.35% APY on its 11-month CD. The minimum opening deposit is $5k, with no stated balance cap.
Added to the product line in November 2018, the 11-month CD’s initial rate was 2.15% APY. The rate was raised to 2.35% in July 2019.
As stated in the Terms and Conditions brochure, the Early Withdrawal Penalty reads as follows:
Any certificate term equal to or less than 12 months will be a 90 day interest penalty.
Headquartered in Roanoke, Virginia, Member One Federal Credit Union’s field of membership (FOM) is based on residency or Partner Company/Organization relationship.
Residency: Individuals who live, work, worship, or attend school in the communities of Altavista, Radford, or Vinton, or Franklin County or Montgomery County are eligible for membership.
Residency: Individuals who live, work, worship, or attend school in the communities of Amherst, Bedford, Botetourt, Campbell, Forest, Lynchburg, Roanoke, Salem, or Pittsylvania County, MAY be eligible for membership.
Partner Company/Organization: Individuals who are employed by, retired from, or volunteer at any of the nearly 600 Partner Companies/Organizations are eligible.
Relationship: Individuals who are related to current or eligible members by blood, marriage, or adoption qualify for membership. Individuals who live in the household of current or eligible members also qualify.
Questions about determining membership eligibility can be answered by calling 800.666.8811.
Joining Member One and/or opening a CD can be done online, or at any of 14 Virginia branches located in Christiansburg, Fairlawn, Forest, Hardy, Lynchburg (2), Roanoke (5), Rocky Mount, Salem, and Vinton.
Your primary membership account begins with a $5 deposit.
In addition to participating in the CO-OP Shared Branch network, Member One belongs to five ATM networks, including Allpoint, AFFN, The Exchange, Credit Union 24, and STAR.
Credit Union Overview
Member One Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.31% (excellent) based on June 30, 2019 data. In the past year, Member One has increased its total non-brokered deposits by $105.35 million, an excellent annual growth rate of 12.56%. Please refer to our financial overview of Member One Federal Credit Union (NCUA Charter # 4035) for more details.
Member One Federal Credit Union was originally chartered in 1940 to serve Norfolk & Western Railroad employees. Norfolk & Western locomotives were built at the Roanoke Shops, which is still in operation. Member One has grown to be the 11th largest credit union in Virginia, with more than 123,000 members and assets in excess of $1 billion.
How the CD Compares
When compared to 258 similar length-of-term CDs tracked by DepositAccounts.com that available within the FOM, Member One Federal Credit Union’s 11-month CD APY currently ranks first.
The above rates are accurate as of 12/16/2019.
Looking for the best CD rates, either nationwide or state specific? Please refer to DepositAccounts.com’s CD Rates Table.