MembersFirst Credit Union (GA) 24-Month CD APY Is New Rate-Leader


Deal Summary: MembersFirst 55+ 24-month CD, 5.50% APY, $1k minimum deposit.

Availability: Five Atlanta and three Savannah Metropolitan Statistical Area counties; possible easy membership requirement in Georgia.

Following a recent 33-bps rate increase, the MembersFirst Credit Union (MembersFirst) 12-month, 18-month, and 24-month MembersFirst 55 Plus CDs all earn 5.50% APY. Of the three, the 24-month CD APY is the most competitive. The minimum opening deposit for any 55 Plus CD is $1k, with no stated balance cap.

5.50%$1k-MembersFirst Credit UnionMembersFirst 55 Plus 12 Month CD
5.50%$1k-MembersFirst Credit UnionMembersFirst 55 Plus 18 Month CD
5.50%$1k-MembersFirst Credit UnionMembersFirst 55 Plus 24 Month CD
Rates as of February 27, 2024.

As the name suggests, the MembersFirst 55 Plus CDs can only be opened by members who are at least 55 years of age. According to the MembersFirst 55+Accounts page,

Participants in the MembersFirst 55+ Plus program receive a premium rate on all CDs
and can request a one-time step up rate on certificates with a term of 2 years or more.

If you opened a 24-month MembersFirst 55 Plus CD earlier this year when the rate was 5.17% APY, this might be a good time to exercise the one-time step up option.

The MembersFirst 55+ Plus program also offers discounted rates on safe deposit box rentals (select locations), free money orders, preferred rates on loans and lines of credit, unlimited free ATM withdrawals, and worldwide access at CIRRUS and Pulse Network ATMs.

Early Withdrawal Penalty

As stated on the Certificates Rates page, the Early Withdrawal Penalty reads as follows:

For terms of 90 days up to one year, the penalty will be 90 days interest. For terms of over one year, the penalty will be 180 days interest.

The interest penalty will not be taken from the principal of the CD unless the interest available in the CD is insufficient to debit. If a CD is withdrawn prior to the first interest payment, the penalty will only apply to the amount that would have been due.


Headquartered in Decatur, Georgia, MembersFirst Credit Union’s field of membership (FOM) is primarily community-based, with individuals, 18-years or older, who live or work in the Georgia counties of Bryan, Chatham, Cobb, DeKalb, Douglas, Effingham, Fulton, or Paulding, or the City of Sandy Springs eligible to join.

Employees of WellStar Health System and affiliated groups, Emory Healthcare Decatur, Piedmont Healthcare and affiliates, St. Joseph’s/Candler Healthcare qualify for membership, as do employees of Douglas County Board of Education or Paulding County Board of Education qualify for membership.

Employees, students, and members of more than 50 schools, groups, and organizations are also eligible to join.

Family members of a current MembersFirst member also qualify for membership.

Possible Statewide Easy Membership Requirement

The Getting Ahead Association (GAA) can be joined by “any individual who maintains a valid Georgia residence and is genuinely committed to improving their own financial well-being.” According to GAA’s About Us page, its members are eligible to join 16 different Georgia credit unions, including MembersFirst. Joining GAA ($5 annual dues) can be done online or by downloading a GAA Membership Application. As stated on the GAA Membership page,

Applications can also be found at participating credit unions, or by calling 678-542-3535.

Account Opening

Joining MembersFirst can be done online, or at any of the 11 Georgia branches located in Atlanta, Austell, Decatur (2), Douglasville, Hiram, Marietta, Newnan, Pooler, Sandy Springs, and Savannah.

A $5 minimum deposit in a Membership Savings Account of MembersFirst 55+ Membership Savings Account “establishes your ownership in the credit union.” Balances of $100 and above earn dividends.

According to CSR, both current and new MembersFirst members must open a CD in-branch at any of the above-mentioned branch locations.

Funding and Other Details

The following information is from a conversation with CSR.

  • Funding – ACH, wire, check, internal transfer, Shared Branch transaction.
  • Ownership – Individual or joint.
  • CO-OP Shared Branch Participant – Yes.
  • Dividends – Compounded/credited monthly and can be withdrawn penalty-free.
  • Maturing Funds – Cashier's check to address on file, or deposited in a MembersFirst savings/checking account.
  • Beneficiaries – Up to six can be designated and percentages can be assigned; Social Security numbers required for all beneficiaries.
  • Grace Period – 7 calendar days before automatic renewal.
  • Credit Check – Hard pull when joining, using Experian and ChexSystems.

Credit Union Overview

MembersFirst Credit Union has an overall health grade of "B+" at, with a Texas Ratio of 1.06% (excellent) based on June 30, 2023 data. In the past year, MembersFirst’s total non-brokered deposits decreased by -$7.27 million, an average annual growth rate of -2.26%. Please refer to our financial overview of MembersFirst Credit Union (NCUA Charter # 67538) for more details.

Chartered in 1953, MembersFirst Credit Union is currently the 15th largest credit union headquartered in Georgia, with assets in excess of $386 million and nearly 30,000 members. The original FOM was exclusive to a diverse group of healthcare and education professionals and was expanded to include everyone in the Georgia communities where the credit union members lived and worked.

How the MembersFirst 55 Plus 24-Month CD 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 bank or credit union has a higher rate than currently offered on the MembersFirst Credit Union 55 Plus 24-Month CD. The following table compares the MembersFirst 55 Plus 24-Month CD 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 9/12/2023.

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

Related Pages: Savannah CD rates, Atlanta CD rates, 1-year CD rates, 5-year CD rates

  |     |   Comment #1
If interested, you may be able to join after joining the Getting Ahead Association for $5.00. There are numerous other credit unions in GA you may be able to join after becoming a member.
  |     |   Comment #2
Disregard, didn't see Ken's comments.
MembersFirst Credit Union (GA) Boosts 24-Month CD Rate
Deal Summary: MembersFirst 55+ 24-month CD, 5.17% APY, $1k minimum deposit.

Availability: Eight Georgia counties.

MembersFirst Credit Union (MembersFirst) has substantially raised the rates on its three shorter-term MembersFirst 55 Plus CDs. The 24-month CD is the most competitive of the three, offering 5.17% APY. The minimum opening deposit is $1k, with no stated balance cap.

As the title suggests, the MembersFirst 55 Plus CDs can only be opened by members who are at least 55 years of age. According to the MembersFirst 55+Accounts...

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