Meritrust CU (KS) Ups Rates on 3-Year and 5-Year CDs

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Availability: Residents of 17 Kansas counties; employees and retirees of The Boeing Company.

Earlier this week, Meritrust Credit Union (Meritrust) raised the rates on its 3-year Share Certificate (2.00% APY) and 5-year Share Certificate (2.25% APY). These newly increased rates are the highest for both Share Certificates (CDs) in more than 3 ½ years.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.10%$500-Meritrust Credit Union5 Year Share CD
2.10%$500-Meritrust Credit Union5 Year Share IRA (Traditional, Roth, CESA)
1.65%$500-Meritrust Credit Union3 Year Share CD
1.65%$500-Meritrust Credit Union3 Year Share IRA (Traditional, Roth, CESA)
Accounts mentioned in this post. Rates as of September 25, 2016.

The minimum opening deposit for either CDs is $500, with no balance cap. The 5-year CD also has a "bump" feature, allowing for one rate increase during the term of the CD.

The new rate is determined by the current Meritrust deposit rate for the same term CD.

Both CDs are also available as IRAs (Traditional, Roth, and CESA) earning the same APYs, with the same funding requirements.

According to CSR, the Early Withdrawal Penalty for any Meritrust CD with a term greater than 12 months is 180 days interest.

Availability

Headquartered in Wichita, Meritrust Credit Union’s membership eligibility is primarily residency based.

Residency: Individuals who live, work, or worship in the Kanasa counties of Butler, Chase, Cowley, Dickinson, Douglas, Geary, Harvey, Lyon, Marion, McPherson, Morris, Osage, Pottawatomie, Riley, Saline, Sedgwick, or Sumner are eligible.

Relationship: Family members of any eligible individuals are welcome to join Meritrust.

Employment: Employees and retirees of The Boeing Company and its subsidiaries are also eligible.

Complete membership eligibility details can be found on Meritrust's "Who Can Join" page.

Joining Meritrust and/or opening a CD can be done online or at any of the 16 Kansas branches located in Derby (2), Junction City, Lawrence (2), Manhattan, and Wichita (10).

Credit Union Overview

Meritrust Credit Union (NCUA Certificate # 63238) has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 3.55% (excellent), based on June 30, 2015 data. In the past year, Meritrust increased its total deposit by $13.78 Million, an above average annual growth rate of 1.69%. Please refer to our financial overview of Meritrust Credit Union for more details.

Meritrust Credit Union’s beginnings are firmly rooted in the aircraft industry, having been chartered in 1935 when employees of the Stearman Aircraft Company organized a credit union. Boeing Aircraft bought Stearman Aircraft in 1941 and the Credit Union’s name was changed to Wichita Boeing Employees Credit Union. More than 50 years later, the charter was changed to serve all the residents of the community, and the name was changed to Boeing Wichita Credit Union, more commonly known as BWCU. In 2009, the name "Meritrust" was chosen because it is

an extension of the two pillars of our unsurpassed service that matter most to our members—Merit and Trust.

How the CDs Compare

When compared to the 275 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available to Kansas residents, Meritrust Credit Union’s 3-Year Share Certificate currently ranks first.

When compared to the 225 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available to Kansas residents, Meritrust Credit Union’s 5-Year Share Certificate currently ranks sixth.

The above rates are accurate as of 9/17/2015.

To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.

Comments
Top 5-Year CD Rate in Kansas at Meritrust Credit Union - Local Only

Meritrust Credit Union did something rare in today's environment. It increased the yield on its 5-year share certificate from 2.00% to 2.50% APY. That's now a very competitive rate. The rates on the shorter terms are much less competitive. The only noteworthy one is a 1.50% APY 3-year CD. Minimum deposit is $500, and I was told last year that the 3- and 5-year CDs have an early withdrawal penalty of 90 days of interest. These rates are listed in the credit union's rates page as of 1/18/2012.

Credit union membership...

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Top Long-Term CD Rates at Meritrust Credit Union in Kansas - Local Only

Meritrust Credit Union currently has several good CD deals especially on long-term CDs. The rates actually went up considerably last week. Hopefully, they will hold for a while, but I wasn't able to get any clue from the customer service rep about when they might change. As is typical, the rates are subject to change at any time. The three best CDs include the 3.00% APY 5-year CD, 2.25% APY 3-year CD and 1.75% APY 2-year CD. The 1-year CD rate is not quite as competitive at 1.25% APY. Minimum...

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6.00% 17-Month CD at a Kansas Credit Union (BWCU)
BWCU is offering a 17-month share certificate with a yield of 6.00% APY and a rate of 5.84%. The minimum deposit is $500, and it requires money new to the credit union. This CD is listed at the credit union's rate table.

Field of membership includes those who reside or work in almost any county in the eastern half of Kansas. See site for details. Also eligible for credit union membership are employees or retired employees of The Boeing Company or any subsidiary of The Boeing Company. Relatives of the credit...

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5% 11-Month CD at a Kansas CU
BWCU is offering a 5% APY 11-Month CD special. The minimum opening deposit is $1,000.

The credit union's field of membership includes residents of many counties of Kansas. This includes Allen, Franklin, Jackson, Jefferson, Lincoln, Miami, Ottawa, Reno, Washington, and many more. BWCU has branches in Wichita, Andover and Derby with new branches being built in Lawrence and Haysville Kansas. BWCU is NCUA insured.

The best yield for a 1-year certificate of deposit listed at Bankrate.com continues to be Corus Bank with 4.94% APY. This may change today since Corus makes changes...



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