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.

1.15%$100k-Michigan State University Federal Credit Union5 Year Jumbo CD
1.15%$100k-Michigan State University Federal Credit Union5 Year Jumbo IRA (Traditional, Roth, CESA, SEP)
0.90%$500-Michigan State University Federal Credit Union5 Year CD
0.90%$500-Michigan State University Federal Credit Union5 Year IRA (Traditional, Roth, CESA, SEP)
Rates as of February 27, 2021.

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 uniform 25 bps lower.

The Jumbo Certificate is also available as an IRA (Traditional, Roth, CESA, SEP) earning the same 2.38% APY, with the same funding requirements.

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

1-5 Year Certificates: Results in penalty equal to 180 days dividends on amount withdrawn.

The mild 180 days EWP increases the 5-year Jumbo Certificate’s competitiveness. DA’s Early Withdrawal Penalty Calculator, shows what the effective yields would be, with yields available on a month-to-month basis. For example, closing the 5-year Jumbo Certificate at 20 months would result in an effective yield of 1.68% APY.


Headquartered in East Lansing, Michigan State University Federal Credit Union’s field of membership (FOM) is diverse, offering a way for almost anyone to join.

Easy Membership: Individuals who join the Michigan United Conservation Clubs ($25 for a 1-year membership) qualify for MSUFCU membership.

University Relationship: Faculty, staff, and students of Michigan State University (MSU) or Oakland University (OU); members of MSU or OU Alumni Association; MSU Alumni Association Legacy Program members; and “those who regularly work on the MSU or OU campus who are under the control of the MSU Board of Trustees or the governing body of OU” are eligible for membership.

Employment: Employees of more than 425 SEGs are eligible to join.

Family Relationship: Immediate family members (spouse, parent, sibling, grandparent, or child) and household members of membership-eligible individuals are also eligible for membership.

Complete details are available on MSUFCU’s Who Can Join page.

Joining MSUFCU and/or opening a Jumbo Certificate can be done online, or at any of 16 Michigan branches located in Auburn Hills, Charlotte, Clarkston, East Lansing (4), Haslett, Lansing (4), Okemos (2), Ortonville, and Rochester.

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

Credit Union Overview

Michigan State University Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.75% (excellent) based on March 31, 2017 data. In the past year, MSUFCU increased its total non-brokered deposits by $294.25 million, an excellent annual growth rate of 10.49%. 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 234,500 members and assets in excess of $3.5 billion. The Credit Union was formed in 1937 by eight faculty and staff members, when the school was known as Michigan State College. The first “office” was a founding member’s desk drawer. In 80 years of operation, there have been two name changes (reflective of the school’s evolving name), mergers with two other Michigan credit unions, and in 2014, MSUFCU was named Federal Credit Union of the Year by the National Association of Federal Credit Unions.

How the Jumbo Certificate Compares

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available nationwide, Michigan State University Federal Credit Union's 5-year Jumbo Certificate APY currently ranks sixth.

The above rates are accurate as of 7/25/2017.

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

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

No More MCU
  |     |   Comment #1
Mich State Univ FCU no longer accepts memberships for people out of the area through the conservation assoc only. After applying for membership, my membership was deined even with a stellar credit score. Speaking at length to a supervisor in the membership dept, I was told that I would not be a good match for them, as I live out of state. Even though I first heard of them through a friend of a friend a few months ago, the supervisor said only if that person was a member, and I could give them that person's name, would they consider me. When I mentioned their website stating that if one doesn't have another way to join, one could join that local conservation society, she said it's possible for perhaps local people with no other way to join, but they don't want out of state people joining unless they have an additional tie to the univ or CU as well. THIS IS VERY DIFFERENT THAN ALL OTHER CREDIT UNIONS where you can join by association (ie, "Join Organization X" and you're eligible to become a member). I was denied (with a stellar credit rating) and told it was because I was out of state and not a good match for them, and they absolutely would not let me join if I didn't have another tie to the Univ or CU. Time to take this CU off the list.
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