Members Exchange Credit Union (MS) Adds 54-Month CD, 3.30% APY


Deal Summary: Jumbo CD Specials – 30-month (3.30% APY) and 54-month (3.30% APY), $100k minimum deposit.

Availability: Residents of Copiah, Hinds, Madison, Rankin, and Simpson Counties, Mississippi.

In mid-December, Members Exchange Credit Union (Members Exchange) added two limited-time Jumbo CD Specials, both earning 3.30% APY. The 30-month and 54-month Jumbo CD Specials both require a minimum $100k opening deposit to earn the stated APY. The fine print on the landing page specifically states, “Existing funds on deposit are eligible” – no need for new money.

In a Live Chat, CSR stated the Early Withdrawal Penalty (EWP) for CDs with terms longer than 12 months is 180 days of interest on the amount being withdrawn. This relatively mild EWP could be useful if rates should start trending upward in the next four years. Using DA’s Early Withdrawal Penalty Calculator, you can see what the effective yields on the 54-month Jumbo CD Special would be on a month-by-month basis. For example,

  • 2.24% APY – closed at 18 months
  • 2.51% APY – closed at 2 years
  • 2.79% APY – closed at 3 years
  • 2.93% APY – closed at 4 years


Headquartered in Ridgeland, Mississippi, Members Exchange Credit Union’s field of membership (FOM) includes individuals who live, work, worship, attend school, or volunteer in the Capital Region counties of Copiah, Hinds, Madison, Rankin, or Simpson.

Employees of more than 600 Select Employee Groups in central and northern Mississippi also qualify for membership.

Immediate family members (spouse, parents, siblings, children, grandparents, and grandchildren) of current Members Exchange members are also eligible to join.

Joining Members Exchange can be done online, or at any of three Mississippi branches located in Byram, Pearl, and Ridgeland.

Opening a Jumbo CD Special can only be done at any of the above mentioned branches.

All you need to join MECU is a minimum $1.00 deposit in a share savings account.

In addition to participating in the CO-OP Shared Branch network, Members Exchange,

belongs to CULIANCE ATM Network (previously CU24), which provides access to thousands of ATMs nationwide. Please note that Members Exchange does not participate in the Allpoint ATM Network.

Credit Union Overview

Members Exchange Credit Union has an overall health grade of "A" at, with a Texas Ratio of 1.86% (excellent) based on September 30, 2019 data. MECU has an excellent capitalization level (19.55%), the result of holding $111.75 million in assets with $21.84 million in equity. Please refer to our financial overview of Members Exchange Credit Union (NCUA Charter # 60598) for more details.

Established in 1954, Members Exchange Credit Union’s original FOM was exclusive to the employees of Presto Manufacturing Company in Jackson. (Presto is the maker of many small kitchen appliances, e.g., crock pots, electric skillets, air fryers.) Members Exchange is currently the eleventh largest credit union in Mississippi, with more than 15,500 member and assets in excess of $111 million.

How the Jumbo CD Specials Compare

When compared to 228 similar length-of-term CDs tracked by that are available within the FOM, Members Exchange Credit Union’s 30-month Jumbo CD Special APY currently ranks first, regardless of minimum deposit.

When compared to 203 similar length-of-term CDs tracked by that are available within the FOM, Members Exchange Credit Union’s 54-month Jumbo CD Special APY currently ranks first, regardless of minimum deposit.

The above rates are accurate as of 1/6/2020.

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

Related Pages: Jackson CD rates, 5-year CD rates

Bottoms UP
  |     |   Comment #1
The corner has turned, rates are HIGHER over the past THREE MOTNHS!

Have to do better then THIS!
  |     |   Comment #2
Fabulous rate! Let’s see more like this hopefully!
  |     |   Comment #3
Limited availability and 100k min.
  |     |   Comment #5
Guessing less than 1% would be eligible to participate in this deal. Needle in a haystack more or less.
  |     |   Comment #6
Yep. If we got a national deal like this, it would be delightful!
  |     |   Comment #4
Ken, are we going to see you at the Lending Tree Bowl today?
Ken Tumin
  |     |   Comment #7
Unfortunately not... Coincidentally, when I checked the teams who are playing in the Bowl, Louisiana-Lafayette got me thinking of Lafayette Federal Credit Union (which is based in MD and not LA). That lead me to check their CD rates. Unfortunately, their 3.03% 5-year CD ended (it's now 2.52% APY). Thus, this Members Exchange CD is now an even better deal.
Competitive Reward Checking at Members Exchange Credit Union in MS

High-yield reward checking accounts are the only deposit account in today’s world with a rate over 3%. Not all have rates over 3%, but the best ones still do. You can’t even get 3% rates today with 7-year CDs. However, unlike CDs, the reward checking accounts require work, and there are limitations. The main limitation is the balance that qualifies for the high rate, the balance cap. A few years ago, a $25K balance cap was most common. The $10K balance cap is now more common, especially for reward checking...

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