Michigan State Univ Fed Credit Union 7-Year Jumbo CD Is A Rate Leader

POSTED ON BY

Deal Summary: 7-year Jumbo Certificate, 3.76% APY, $100k min deposit. 7-year Certificate, 3.50% APY, $2.5k min deposit.

Availability: Easy membership requirement

As DA reader, rockies, noted in a Forum post earlier in the week, Michigan State University Federal Credit Union (MSUFCU) is currently offering very competitive rates on its 7-year Jumbo Certificate (3.76% APY, $100k minimum) and 7-year Certificate (3.50% APY, $2,500 minimum). With impressive rate increases of 151 bps and 75 bps respectively, the 7-year Jumbo Certificate and 7-year Certificate APYs are the highest they have been in several years.

For those who think rates may be nearing their peak levels, these long-term Certificates might be the safe harbor you’ve been looking/hoping for.

The 7-year Certificate and Jumbo Certificate are also available as an IRA Certificate and IRA Jumbo Certificate (Traditional, Roth, CESA, SEP), earning the same APYs with the same deposit requirements.

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

Certificates of more than five years: Results in penalty
equal to 365 days dividends based on amount withdrawn.

If the dividend is not sufficient to cover the penalty, the principal amount will be reduced to cover this amount.

Funding and Maturing Funds

According to CSR, the easiest way to fund a CD is through an internal transfer from an existing MSUFCU savings or checking account. MSUFCU participates in the CO-OP Shared Branch network, which makes transferring funds relatively easy. Maturing funds can be distributed by check or wire transfer, or deposited in a MSUFCU savings or checking account.

Earned dividends can be deposited into a share account each month or a check can mailed to the address on file monthly.

The Beneficiary Designation form is available as a PDF and can be downloaded. Up to six beneficiaries can be designated on this form with percentages assigned. Social Security numbers are required for all named beneficiaries.

Availability

Headquartered in East Lansing, Michigan State University Federal Credit Union’s field of membership (FOM) offers a way for almost any US citizen/resident alien to join.

Easy Membership: A $10 donation to the Desk Drawer Fund qualifies for MSUFCU membership.

Residency: Individuals who live, work, worship, attends school, or owns a business in the Michigan counties of Genesee, Lapeer, Livingston, Macomb, or Oakland are eligible to join.

University Relationship: MSU Faculty and staff who regularly work on campus qualify for membership. Alumni, donors, graduates, international students, and individuals currently enrolled at MSU (and their immediate family members) are all eligible for membership.

Employment: Employees of more than 530 SEGs (including State of Michigan employees) are eligible to join.

Family Relationship: Immediate family members (spouse, parent, sibling, grandparent, or child) and household members of current MSUFCU members are also welcome to apply.

Joining MSUFCU and/or opening a Jumbo Certificate can be done online (there is an “Open an Account” button at the top every page of the MSUFCU website) or at any of 21 Michigan branches located in Auburn Hills, Berkley, Charlotte, Clarkston, East Lansing (4), Grand Rapids, Haslett, Holt, Lansing (4), Mason, Okemos (2), Ortonville, Rochester, and Traverse City. Appointments can be scheduled online for any branch location.

The New Account Application is also available as a download and can be returned by snail mail.

A $5.00 minimum deposit into your Spartan Saver is required to open your account.

MSUFCU participates in the CO-OP Shared Branch and ATM networks giving members access to more 5,600 shared branches and nearly 30,000 surcharge-free ATMs located throughout the country.

Credit Union Overview

Michigan State University Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 1.76% (excellent) based on March 31, 2022 data. In the past year, MSUFCU increased its total non-brokered deposits by $602.81 million, an excellent annual growth rate of 11.47%. Please refer to our financial overview of Michigan State University Federal Union (NCUA Charter # 23279) for more details.

Michigan State University Federal Credit Union is the largest university-based credit union in the world, with more than 325,000 members and assets in excess of $6.8 billion. Established in 1937 by eight Michigan State College faculty and staff members, the fledgling MSC Employees Credit Union’s first “office” was a founding member’s desk drawer. (Founded in 1855 as the Agricultural College of the State of Michigan, the college was one of the country's first institutions of higher education to teach scientific agriculture.) In 85 years of operation, the credit union has re-branded twice (reflective of the school’s name changes), merged with two other Michigan credit unions, and was named Federal Credit Union of the Year (2014) by the National Association of Federal Credit Unions.

How the 7-Year Jumbo Certificate Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available nationwide, no banks or credit unions have a higher rate than currently offered on the Michigan State University Federal Credit Union 7-Year Jumbo Certificate, regardless of minimum deposit requirements. The following table compares the 7-Year Jumbo Certificate 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 8/26/2022.

To look for the best CD rates, either nationwide or state-specific, please refer to our CD Rates Table page.

Related Pages: Detroit CD rates, Traverse City CD rates, Lansing CD rates, Grand Rapids CD rates, 5-year CD rates, IRA CD rates, nationwide deals

Comments
Preschooler
  |     |   Comment #1
I just opened a CD with them this week, POD, and did not put on their Socials
kcfield
  |     |   Comment #2
Preschooler: Did they do a hard or soft credit pull for the CD account opening?
P_D
  |     |   Comment #3
"For those who think rates may be nearing their peak levels, these long-term Certificates might be the safe harbor you’ve been looking/hoping for."

If during the last rate increase cycle in 2018 and 19 inflation was something like 2%, and CD rates peaked out at 3 to 4%, how can inflation be 9% now and rates peak out at the same 3 to 4%? It makes no economic or intuitive sense. Although I am not denying it is possible.

I have a possible explanation for it but I'm not allowed to talk about it.

I think it's okay to ask the question though why the Fed raised rates at all in 2018 and 19 when there was no inflation. That made no economic sense either. I think understanding the answer to that question is critical in understanding what actions the Fed is likely to be taking now.
#4 - This comment has been removed for violating our comment policy.
#8 - This comment has been removed for violating our comment policy.
jimdog
  |     |   Comment #12
who wants to tie their money up for 7 years when rates are rising fast and might be 5% in 2-3 years?
MikeG62
  |     |   Comment #14
Because they might not.

Who knows when the rate increases begin to look they are tipping the economy into recession at which point expectations for further increases will change. Just 30 days ago the market thought the Fed was talking about a pivot in early 2023.

Having said that, I hear the concern.

This one is attractive now. If it turns out rates do increase over the next 6-12 months, you may regret buying this one for a while, but when the Fed stops or folks think a pivot might be coming I think you'll be happy you bought this one in the late summer of 2022. Said another way, I feel like over the 7-year term people who buy this CD will be glad they did. Will they have grabbed the top of the market, probably not. But they may miss buying anything attractive as they wait for what they think is a better entry point which never comes of which they miss...
PabloSavin
  |     |   Comment #19
It is very good for right now. It may be good in 6 months. Maybe put some money in this and hold back a few months on the other amount. If rates go up the spread would cover the interest you didn't make waiting for the magic rate. Brokered CD's at FIDO are almost all callable (as of today) for 5 years +
kcfield
  |     |   Comment #15
Good point, Jimdog. I think if one invests in a CD now, it would be wise to consider a no penalty CD, a bump up CD, or a regular CD with low EWP in case a steep increase in rates makes the change worthwhile. My regular savings account is getting close to 2%, so I am comfortable waiting awhile longer--at least to see what happens after the next 1-3 Fed rate increases.
P_D
  |     |   Comment #16
I'm not a fan of predictions because at any one time you can find 50% of the experts predicting things will go one way and 50% predicting they will go the other. Instead I do my best to diversify into expected to be uncorrelated investments so that something will be up while something else is down. Of course that's not easy to do as expectations are in themselves a kind of prediction. But it has served me well over the long run in my investing career.

An extension of this is that when you break investments down into the different categories, cash, fixed income, equities, real estate, commodities, etc. Each category, and subcategory would also be diversified. In the bank deposit category which is a subcategory of fixed income, there really isn't such a thing as a lack of correlation within the category. So generally all you can do is diversify by term. Some cash in a savings account and maybe a term diversified ladder of CDs fits the strategy. Alternatively you can speculate using a generally all or nothing strategy on one term. But I think that's somewhat indistinguishable from gambling evidenced by what I mentioned before about half the experts making diametrically opposed predictions. Unless you know something they don't, that's the investment strategy equivalent of flipping a coin.
Choice
  |     |   Comment #17
With an effective net return on ALL liquid assets ( CD or equivalent) is?
kcfield
  |     |   Comment #18
PD: I agree with your point about not predicting because even the experts can't get it right. Most of my stock investments have been in a total market index fund, since it outperforms close to 90 % of managed funds. I invest in a highly rated bond fund with low expense ratio and a couple other carefully selected managed funds to mitigate downside risk (including a utility fund)--all this of course after establishing several months of emergency savings. The result is a boring portfolio that performs nearly as well as the market as a hole with a lower overall Beta. This is my strategy--not advice for others as I am not a CPA, CFP or or CFA.
rockies
  |     |   Comment #20
"Rates for Michigan State University Federal Credit Union are currently being reviewed." seems to have gone on for quite a while now. Can they now be posted?
Choice
  |     |   Comment #21
Be careful rockies…”the enemy is us mindset” pervades with those that think you have to a have some form of subscription fee to provide constructive comments. DA needs to focus more on customer comments for which it is paid handsomely by advertisers and, less we forget, Ken’s retirement/buy out fund.
Michigan State Univ Federal Credit Union Adds $250 Checking Bonus
Deal Summary: $250 bonus for new checking account with direct deposit, 10 debit card purchases, and $1,000 balance in savings account, now through February 28, 2022.

Availability: Easy membership requirement

Michigan State University Federal Credit Union (MSUFCU) has a long history of competitive long-term CD rates, and that CD competitiveness continues today. For those not interested in MSUFCU CDs, there’s another reason to become a member, a $250 checking account bonus. For those who joined MSUFCU for their CDs, this may make a MSUFCU checking account worthwhile.

Continue Reading
Michigan State Univ Federal Credit Union Jumbo 5-Yr CD Is Rate Leader
Deal Summary: 5-year Jumbo CD, 1.50% APY, $100k minimum deposit.

Availability: Easy membership requirement

For most of the past year, the 5-year Jumbo Certificate offered by Michigan State University Federal Credit Union (MSUFCU) has been featured in DA’s bi-weekly CD Rates Summary. Following a recent 10 bps rate increase, the 5-year Jumbo Certificate (1.50% APY) is currently the rate leaders for nationally available 5-year CDs. The minimum deposit for any MSUFCU Jumbo CD is $100k, with no stated balance cap; non-Jumbo CDs require a $500...

Continue Reading
Michigan State Univ Federal Credit Union Ups Long-Term CD Rates
Deal Summary: Jumbo CDs – 4-year (1.20% APY) and 5-year (1.35% APY), $100k minimum deposit.

Availability: Easy membership requirement

Over the weekend, Michigan State University Federal Credit Union (MSUFCU) added 10 bps to its 4-year (1.20% APY) and 5-year (1.35% APY) Jumbo CDs. In the past twelve months, both the 4-year and 5-year Jumbo CDs have experienced a series of rate increases and decreases, with the current APYs 30 bps higher than they were in October 2020.

The minimum deposit for an MSUFCU...

Continue Reading
Michigan State Univ Federal Credit Union Boosts Long-Term CD Rates
Deal Summary: Jumbo CDs – 4-year (1.17% APY) and 5-year (1.37% APY), $100k minimum deposit.

Availability: Easy membership requirement

In the first two weeks of March, Michigan State University Federal Credit Union (MSUFCU) raised the rates twice on its 4-year (1.17% APY) and 5-year (1.37% APY) Jumbo CDs, adding a total of 27 and 32 bps, respectively.

The minimum deposit for MSUFCU’s Jumbo CDs is $100k, with no stated balance cap; the non-Jumbo CDs require a $500 minimum deposit and have rates a uniform...

Continue Reading
Michigan State Univ FCU Raises 5-year Jumbo CD Rate
Deal Summary: 5-year Jumbo Certificate, 2.38% APY, $100k minimum deposit.

Availability: Easy membership requirement by joining the Michigan United Conservation Clubs; relationship with Michigan State University or Oakland University; more than 425 SEGs.

Over the weekend, Michigan State University Federal Credit Union (MSUFCU) raised the rates on several of its Certificates, with the 5-year Jumbo Certificate (2.38% APY) the most competitive.

The minimum deposit for MSUFCU’s Jumbo Certificates is $100k, with no stated balance cap; the regular Certificates require a minimum of $500, and have rates a...

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.