A year ago, MIDFLORIDA Credit Union (MIDFLORIDA) offered 3.00% APY on a 5-year CD in celebration of the Credit Union’s assets reaching $3 billion. The 3.00% APY is available again, but this time it’s attached to an 18-month CD Special that should provide “many happy returns.” This limited time offer requires a $10k minimum opening deposit and carries a “$2 million maximum per Social Security number.”
According to CSR, the Early Withdrawal Penalty for the 18-month CD Special is 9 months of dividends. No partial withdrawals are allowed on this CD Special, only early closures.
Headquartered in Lakeland, MIDFLORIDA Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, worship, or attend school in any of the following central Florida counties eligible to join.
Florida counties: Brevard, Charlotte, Citrus, DeSoto, Glades, Hardee, Hernando, Highlands, Hillsborough, Indian River, Lake, Manatee, Marion, Martin, Okeechobee, Orange, Osceola, Pasco, Pinellas, Polk, Sarasota, Seminole, St. Lucie, Sumter, and Volusia.
Joining MIDFLORIDA can be done online, or at any of 47 full-service Florida branches located in Altamonte, Arcadia, Auburndale, Avon Park, Bartow, Bay Pines, Brandon, Clearwater (2), Haines City, Kissimmee, Lake Placid, Lake Wales, Lakeland (8), Largo, Lutz (2), Maitland, New Port Richey, Okeechobee, Orlando (4), Pinellas Park, Plant City, Port Saint Lucie, Sebring (3), St. Petersburg, Tampa (4), Vero Beach, Wauchula, and Winter Haven (3).
While some MIDFLORIDA CDs can be opened online, the CD Special must be opened in-branch in any of the above mentioned locations.
Credit Union Overview
MIDFLORIDA Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.73% (excellent), based on September 30, 2018 data. In the past year, MIDFLORIDA has increased its total non-brokered deposits by $255.58 million, an excellent annual growth rate of 10.33%. Please refer to our financial overview of MIDFLORIDA Credit Union (NCUA Charter # 68600) for more details.
In 1954, a shoebox in the home of a Polk County school teacher served as the initial repository for the newly established Polk County Teachers Credit Union. For 43 years, the Credit Union’s membership was limited to educational employees, but in 1997 the charter was changed to a residency-based field of membership. The next 15 years saw two name changes, two mergers, another charter change, and expansion into several counties. Following the July 2017 merger with Martin Federal Credit Union, MIDFLORIDA Credit Union has become Florida’s fourth largest credit union, with nearly 306,000 members and assets in excess of $3.5 billion.
How the CD Special Compares
When compared to 203 similar length of term CDs tracked by DepositAccounts.com, which are available within the FOM and required a minimum deposit of $10k or less, MIDFLORIDA Credit Union’s 18-month CD Special APY currently ranks third.
The above rates are accurate as of 12/5/2018.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.