Members First Credit Union Ups 27-Month CD (3.26% APY)


Deal Summary: CD Specials – 27-month (3.26% APY), 15-month (3.01% APY), $1k minimum deposit

Availability: Residents of Michigan

Members First Credit Union (MFCU) recently raised the rates on its 27-month (3.26% APY) and 15-month (3.01% APY) CD Specials, with the 27-month having the more competitive rate. Either CD Special can be opened with a $1k minimum deposit, with no stated balance cap. Members who have an MFCU Premier Checking Account are eligible for an additional .10% APY bonus.

The CD Specials are also offered as IRAs (Traditional, Roth, and CESA), earning the same APYs with the same funding requirements.

In the past year, the 27-month CD Special gained 205 bps in ten rate increases, with the 15-month CD Special added 211 bps.

As stated on the Deposit Options page, the Early Withdrawal Penalty for CDs with terms of 12 months or greater is 180 days interest. According to CSR, partial withdrawals are permitted.


Headquartered in Midland, Michigan, Members First Credit Union’s field of membership (FOM) is residency-based, with individuals who live, work, worship, or attend school in any county in Michigan eligible to join.

Immediate family members of current MFCU members also qualify for membership.

Joining MFCU and/or opening a CD Special can be done at any of 11 Michigan branches, located in Clare, Evart, Gladwin, Grand Rapids (2), Harrison, Jenison, Midland (2), and Mt. Pleasant, or by calling 855.835.6328.

Credit Union Overview

Members First Credit Union has an overall health grade of "A" at, with a Texas Ratio of 5.24% (excellent) based on September 30, 2018 data. In the past year, MFCU has increased its total non-brokered deposits by $7.62 million, an above average annual growth rate of 1.83%. Please refer to our financial overview of Members First Credit Union (NCUA Charter # 62076) for more details.

Members First Credit Union was founded in 1936 as the Midland County Teachers Credit Union. During the school year, the Credit Union’s “office” was in a classroom in the junior high school; during the summer months, the office was located in a teacher’s basement. The Members First rebrand occurred in 1997, as the FOM began an expansion that recently culminated in state-wide eligibility.

According to a November CU Times article, MFCU was chosen to be part of the newly formed,

Credit Union Trust, a special purpose bank that will allow a group of seven credit unions to provide investment and trust services directly to members.

While credit unions routinely provide a range of wealth management services for their members, they were unable to directly provide fiduciary services such as trusts until a 2016 change in Michigan law allowed the creation of this new type of limited purpose financial institution.

When it opens late in the 2019’s first quarter, it will be the first such entity in the state.

How the CD Special Compares

When compared to 414 similar length-of-term CDs tracked by that require a similar minimum deposit and are available within the FOM, Members First Credit Union's 27-month CD Special APY currently ranks first.

The above rates are accurate as of 2/2/2019.

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

Related Pages: Flint CD rates, Traverse City CD rates, Grand Rapids CD rates, 1-year CD rates, 5-year CD rates

Previous Comments
deplorable 1
  |     |   Comment #1
This 27 month CD actually looks pretty good with the .10% bonus the rate would be 3.36% with a APY of 3.42%. Pretty much the same rate as 4-6 year CD's currently. Too bad it's not a add-on but I may do this anyway because it's close to home. Thanks Ken it's amazing how you spot some of these local deals when folks who live in those areas don't even see them anywhere.
  |     |   Comment #2
Looks good right now. But if rates are lower 27 months from now, people will wish they went out longer on CD terms. However, if it were available to me, I would take it as a half step in my CD ladder.

Time, not opinions, will only tell where CD rates will really be in the future.
deplorable 1
  |     |   Comment #3
That's why I was wishing it was a add-on. 2019 could bring 2 more rate hikes in June and Dec. or it could bring none only time will tell for sure.
  |     |   Comment #4
Or it could bring a rate cut according to fed fund futures
deplorable 1
  |     |   Comment #5
Those FED futures look way out of whack. My guess is that they will start to rise as the year progresses.
David K
  |     |   Comment #7
Deplorable, which specific "FED futures look way out of whack?"

What do you think that means?
deplorable 1
  |     |   Comment #8
Specifically June and December although I just checked today and the odds have already increased from 2% to 10%. It looks like they are moving up already.
David K
  |     |   Comment #9
Those are not Fed Futures, that is an index of Fed Futures.

Which specific Fed Futures look way out of whack? Which will you be buying and selling, and at what prices?
deplorable 1
  |     |   Comment #10
Sorry I was only referring to the probabilities as a guide for future FED rate hikes. I'm not trading these.
Top Long-Term CD and IRA CD Rates at Members First Credit Union in MI - Local Only

Members First Credit Union is offering some competitive long-term CD and IRA CD rates. The best is a 3.25% APY 5-year CD. The special 27-month CD is also competitive with a 2.00% APY. Minimum deposit is $1,000. These rates are listed in the credit union's rates page as of 8/27/2010.

One thing I like about this credit union is they clearly list the early withdrawal penalties right below the rate table. The penalties for terms of 4- and 5-year terms is 180 days of interest. Terms from 2 to 3 years...

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