Metro Credit Union (MA/RI) Adds Rate-Leading IRA CD Specials

POSTED ON BY

Deal Summary: IRA CD Specials – 24-month (3.25% APY) and 18-month (2.75% APY), $500 min deposit, online opening limited to $25k max deposit, new money.

Availability: Eleven Massachusetts counties and three Rhode Island counties.

Massachusetts-based Metro Credit Union (Metro CU) has added seven CD Specials and four IRA CD Specials (Traditional and Roth) to its product line. The IRA CD Specials offer APYs a uniform 25 bps higher than the CD Specials, with the 18-month IRA CD Special (2.75% APY) and 24-month IRA CD Special (3.25% APY) having the most competitive rates.

The fine print on the landing page provides the following details.

Account requires NEW MONEY ONLY; to satisfy this requirement, an additional $5,000 in external funds must be added to transfers from existing Metro Credit Union accounts.

Minimum to open and earn APY is $500.00.

For online account opening only: Maximum funding amount is $25,000.

According to the first page of the online application,

The maximum funding limit per application is $25,000 for a Bank Transfer or $2,000 for Credit or Debit Card. Please visit one of our locations if you're seeking to fund your new account(s) with a higher balance.

As stated in the Truth in Savings disclosure, the Early Withdrawal Penalty reads as follows:

If your account has an original maturity of 12-60 months: The penalty we may impose will equal three months’ interest on the amount withdrawn subject to penalty.

Earned interest can be withdrawn without penalty any time after it has been credited.

Maturing funds can be distributed by cashier’s check to the address on file or deposited in a Metro CU Membership Savings account. There is a ten calendar day grace period before a IRA CD Special or CD Special automatically renews.

Availability

Headquartered in Chelsea, Massachusetts, Metro Credit Union's field of membership (FOM) is community-based, with U.S. legal residents who live, work, attend school, or own a business in the Massachusetts counties of Barnstable, Bristol, Essex, Franklin, Hampden, Hampshire, Middlesex, Norfolk, Plymouth, Suffolk, or Worcester, or the New Hampshire counties of Cheshire, Hillsborough, or Rockingham eligible to join.

More than 1,800 Massachusetts employers offer the "[email protected]" workplace banking program, which automatically deposits a set amount (your choice) from your payroll check into your Metro Credit Union account. For more details, please refer to Metro CU’s [email protected] page.

Joining Metro CU and/or opening a CD Special or IRA CD Special can be done online, or at any of 19 Massachusetts branches located in Boston (4), Burlington, Chelsea (2), Framingham, Lawrence, Lynn, Medford, Melrose, Newton, Peabody (2), Reading, Salem, Tewksbury, and West Roxbury. Appointments are available and can be scheduled online.

Becoming a member is easy! Just open a Metro Membership Savings Account with an initial deposit of $5.00.

Credit Union Overview

Metro Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 1.17% (excellent) based on March 31, 2022 data. In the past year, Metro CU has increased its total non-brokered deposits by $116.38 million, an excellent annual growth rate of 5.96% APY. Please refer to our financial overview of Metro Credit Union (NCUA Charter # 66364) for more details.

Metro Credit Union is currently the second largest credit union in Massachusetts, with nearly 190,000 members and assets in excess of $2.6 billion. Established in 1926 with less than $2,000 and 35 members, Metro CU surpassed the $1 billion mark nearly ten years ago and the $2 billion mark in 2022, the result of many years of growth through acquisitions. Described as "one of the most aggressively growing credit unions in Massachusetts," Metro CU’s FOM has expanded to include all but one of Massachusetts' twelve counties.

How the 24-Month IRA CD Special Compares

When compared to similar length-of-term IRA CDs tracked by DepositAccounts.com which are available within the FOM 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 24-Month IRA CD Special. The following table compares the 24-Month IRA CD Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

How the 18-Month IRA CD Special Compares

When compared to similar length-of-term IRA CDs tracked by DepositAccounts.com which are available within the FOM and have minimum deposit requirements of $10k or less, one credit union has a higher rate than currently offered on the Metro Credit Union 18-Month IRA CD Special. The following table compares the 18-Month IRA CD Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

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

How the 24-Month CD Special Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com which are available within the FOM 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 24-Month CD Special. The following table compares the 24-Month CD Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

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

The above information and rates are accurate as of 7/22/2022.

Related Pages: Boston CD rates, 1-year CD rates, 5-year CD rates, IRA CD rates

Comments
Metro Credit Union (MA) Boosts 36-Month CD Rate By 135 bps
Deal Summary: 36-month CD, 2.25% APY, $500 minimum deposit.

Availability: Residents of the eastern Massachusetts counties of Barnstable, Bristol, Essex, Middlesex, Norfolk, Plymouth, Suffolk, and Worcester.

At the beginning of the week, Metro Credit Union (Metro CU) increased the rate on its 36-month CD (2.25% APY) by a whopping 135 bps. The minimum opening deposit is $500, with no stated balance cap.

The CD is also offered as an IRA (Traditional, Roth, and CESA), earning the same APY with the same funding requirements.

Continue Reading
Metro CU (MA) Raises Rate Online Money Market
Availability: Residents of the eastern Massachusetts counties of Barnstable, Bristol, Essex, Middlesex, Norfolk, Plymouth, Suffolk, and Worcester.

Metro Credit Union (Metro CU) introduced its Online Money Market in June 2015. Its initial rate of 1.25% APY on balances of $10k+ remained in effect until this past June, when the rate dropped to 1.20% APY, and the minimum balance was raised to $50k.

Metro CU has recently raised the rate to 1.25% APY and lowered the minimum balance to $10k. The minimum opening deposit is $2k of new money, with...

Continue Reading
Metro Credit Union (MA) Introduces Online Money Market

GOOD NEWS: A huge thank you to DA member, scottj, who provided the link to the online application! I have added the link to the "Availability" section.

UPDATE 7/6/2015: Many thanks to DA member, scottj, for his comment concerning the online availability of Metro CU’s Online Money Market. Bottom line, it can’t be opened through Metro CU’s main website. Further details in the "Availability" section of this blog.

Availability: Residents of the Massachusetts counties of Barnstable, Essex, Middlesex, Norfolk, Plymouth, Suffolk, or Worcester.

Massachusett’s Metro Credit...

Continue Reading
Metro Credit Union (MA) Raises Rate On High Yield Savings - $25K Minimum

Earlier this week, Metro Credit Union (MA) raised the rate on its High Yield Savings Account: balances above $25K now earn 1.15% APY, with no maximum balance cap. Balances between $10K and $25K earn 0.20%APY, with balances under $10K earning 0.15% APY. The initial minimum deposit is $10K and the account requires new money to open.

Fees

The potential fees on this High Yield Savings Account are rather harsh and could easily negate the attractive 1.15% APY. These fees include:

  • $25 monthly service charge, which can be waived...
Continue Reading
5.55% 13-Month CD at a Massachusetts CU (Metro).
Metro Credit Union is offering a 13-month certificate of deposit special with a yield of 5.20% APY. A minimum deposit is $50,000. An extra 0.35% rate bump is provided if you open a Premiere Relationship with an Advantage Checking Account. The checking account has no minimum balance requirements. The only condition is that you do at least one bill payment or check every 3 months. The 13-month CD special ends on July 7, 2007.

Field of membership includes those who live or work in one of the following MA counties: Barnstable,...

Continue Reading

More Past Offers



The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.