Metro Credit Union (NE) Unveils Rate-Leading 13-Month CD Special
In August, Omaha-based Metro Credit Union (Metro CU) offered 5.75% APY on its 12-, 18-, and 24-month CDs. Those competitive rates are no longer available, but Metro CU has recently added a rate-leading 13-Month Certificate Special. Earning 6.00% APY, the 13-Month Certificate Special requires a $500 minimum opening deposit. According to the Special Rates page, “Certificates in excess of $1,000,000 may be refused.”
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 6.00% | $500 | $1m | Metro Credit Union (NE) | 13 Month CD Special | |
| 6.00% | $500 | $1m | Metro Credit Union (NE) | 13 Month IRA Special (Traditional, Roth, CESA) |
The 13-month Certificate Special is also available as an IRA Certificate Special (Traditional, Roth, CESA), earning the 6.00% APY with the same deposit requirements.
As stated in the Rate and Fee disclosure, the Early Withdrawal Penalty reads as follows:
If the term is less than or equal to 29 months, there will be a forfeiture of an amount equal to one hundred eighty (180) days’ dividends on the amount withdrawn.
If the dividend penalty exceeds the amount of dividends in your account, that amount will be deducted from your withdrawal.
Availability
Headquartered in Omaha, Nebraska, Metro Credit Union's field of membership (FOM) is community-based, with U.S. citizens/resident aliens who live, work, worship, attend school, or regularly conduct business in the Nebraska counties of Cass, Douglas, Sarpy, Saunders, or Washington, or the Iowa counties of Harrison, Mills, or Pottawattamie eligible to join.
Immediate family members of a current Metro Credit Union member are welcome to apply.
Account Opening
Joining Metro CU can be done online or at any of eight Nebraska branches located in Omaha (8) and Papillion. Appointments are recommended and can be scheduled online.
Current members can open a Certificate Special using the Metro CU online banking platform. Those joining Metro CU can either open a Certificate Special in-branch or open their membership online and then utilizing the online banking platform to open a Certificate Special.
Value of a membership share is $5.00, which must be fully paid to become a member or maintain membership to receive and maintain any accounts or services with us.
Funding and Other Details
The following is from the Metro CU website and a Live Chat with CSR.
- Funding – ACH, wire, or cashier’s check.
- CO-OP Shared Branch Participant – NO.
- Ownership – Individual, joint, or trust.
- Dividends – Compounded daily and credited monthly; monthly transfers to a Metro CU checking/savings account can be specified when opening or can be withdrawn any time after being credited.
- Maturing Funds – Deposited in a Metro CU checking/savings account.
- Beneficiaries – Unlimited, percentages can be assigned, Social Security numbers are required.
- Grace Period – None: Certificate Special will automatically renew for a similar term on date of maturity unless you contact Metro CU prior to maturity date.
- Credit Check – ChexSystems.
Credit Union Overview
Metro Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 2.18% (excellent) based on June 30, 2023 data. In the past year, Metro CU has increased its total non-brokered deposits by $22.36 million, an excellent annual growth rate of 5.08% APY. Please refer to our financial overview of Metro Credit Union (NCUA Charter # 7097) for more details.
Chartered in 1951 as Metro Health Services Federal Credit Union, the original FOM was exclusive to employees of the University of Nebraska Medical Center. The credit union became known as Metro Credit Union in the early 2000s, as the FOM had expanded and diversified. The official “Metro Credit Union” rebrand occurred just four years ago and was described as “a housekeeping issue,” as the credit union has been operating as Metro Credit Union for more than 15 years. Metro Credit Union is currently the third largest credit union in Nebraska, with more than 44,000 members and assets in excess of $535 million.
How the 13-Month Certificate Special Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com which are available within the market area and have minimum deposit requirements of $10k or less, no banks or credit unions have higher rates than currently offered on the Metro Credit Union 13-Month Certificate Special. The following table compares the 13-Month Certificate Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.
| APY | CD Term (Early Withdrawal Penalty) | Credit Union/Bank |
|---|---|---|
| 6.00% | 13-Month Certificate Special (EWP=180 days) | Metro Credit Union |
| 5.80% | 12-17 Month CD, $500 min (EWP=greater of $50 or 270 days) | Credit Human |
| 5.75% | 12-Month Smart Start CD, $25 min (EWP=90 days) | All In Credit Union |
| 5.67% | 12-Month CD, $500 min (EWP=180 days) | CFG Bank USA |
| 5.65% | 12-Month Online CD (EWP=90 days) | Forbright Bank |
The above information and rates are accurate as of 9/26/2023.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.
