MIDFLORIDA CU Celebrates Merger With 2.50% APY 5-Year CD


Deal Summary: 5-Year Certificate Special, 2.50% APY, $10k minimum deposit

Availability: Residents of 20 Central Florida Counties

In celebration of its upcoming merger with Martin Federal Credit Union, MIDFLORIDA Credit Union (MIDFLORIDA CU) is offering a 5-year Certificate Special (2.50% APY). This limited time offer requires a minimum $10k deposit to open, with a maximum deposit of $1m per member.

2.50%$10k$1mMIDFLORIDA Credit Union5 Year Certificate Special
2.50%$10k$1mMIDFLORIDA Credit Union5 Year IRA Special (Traditional, Roth)
Accounts mentioned in this post. Rates as of May 26, 2017.

The 5-year is also offered as an IRA (Traditional, Roth), earning the same APY with the same funding requirements.

As stated on MIDFLORIDA CU’s Terms and Conditions page, the Early Withdrawal Penalty (EWP) reads as follows:

If your account has an original maturity of 49 months or greater, the penalty we may
impose will equal 36 months dividends on the amount withdrawn subject to penalty.


Headquartered in Lakeland, MIDFLORIDA Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, worship, or attend school in the Florida counties of Charlotte, DeSoto, Glades, Hardee, Hernando, Highlands, Hillsborough, Indian River, Lake, Manatee, Martin, Okeechobee. Orange, Osceola, Pasco, Pinellas, Polk, Sarasota, Seminole, St. Lucie, and Sumter, eligible to join.

Portions of Brevard County (based on Zip Code) also qualify for membership eligibility. Those Zip Codes are 32908, 32909, 32949, and 23976.

MIDFLORIDA CU’s upcoming merger (effective July 2017) with Martin Federal Credit Union will not affect the FOM, as Martin FCU's residency-based FOM duplicates portions of MIDFLORIDA’s FOM.

Kevin Jones, President/CEO of MIDFLORIDA CU, stated that the upcoming merger will allow the Credit Union to “infill locations and connect MIDFLORIDA’s coast-to-coast branch network to more fully serve all of mid or central Florida.”

Joining MIDFLORIDA CU and/or opening a CD requires an in-person visit to any of 40 Florida branches located in Arcadia, Auburndale, Avon Park, Bartow, Bay Pines, Brandon, Clearwater, Davenport, Haines City, Kissimmee, Lake Placid, Lake Wales, Lakeland (8), Land O Lakes, Lutz, New Port Richey, Okeechobee, Pinellas Park, Plant City, Port Saint Lucie, Sebring (3), St. Petersburg, Tampa (4), Vero Beach, Wauchula, and Winter Haven (3).

Credit Union Overview

MIDFLORIDA Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 2.94% (excellent), based on December 31, 2016 data. In the past year, MIDFLORIDA CU increased its total non-brokered deposits by $216.55 million, an excellent annual growth rate of 11.23%. Please refer to our financial overview of MIDFLORIDA Credit Union (NCUA Certificate # 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.

MIDFLORIDA Credit Union currently has more than 250,000 members and assets in excess of $2.6 billion, but following the upcoming merger with Martin Federal Credit Union, the membership will grow by approximately 13,300 members.

How the Certificate Special Compares

When compared to the 216 similar length of term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available to Florida residents, MIDFLORIDA Credit Union’s 5-Year Certificate Special currently ranks second.

*Note: Melrose Credit Union is currently operating under an NCUA conservatorship.

The above rates are accurate as of 3/14/2017.

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

MIDFLORIDA CU Has Limited Time, Top Rate 36-Month CD
Availability: Residents of 20 Central Florida Counties

In April, I wrote about MIDFLORIDA Credit Union’s 60-month Step Up Certificate with a blended 3.04% APY. That limited time offer has expired, but MIDFLORIDA Credit Union is currently offering a 36-month Step Up Certificate (blended 2.02% APY).

The 36-month Step Up Certificate is advertised as available for "limited time only," but there is no specific end-date stated. The minimum opening deposit is $1K of new money, with a maximum deposit of $1M per person.

While the 36-month Step Up CD...

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MIDFLORIDA CU Offers Limited Time, High Rate 60-Month Step Up CD
Availability: Residents of 20 Central Florida Counties

MIDFLORIDA Credit Union (MIDFLORIDA CU) is offering a 60-month Step Up Certificate (3.04% blended APY). This limited time offer, expiring on April 30, 2015, requires a minimum $1K deposit to open. There is a maximum deposit of $1M per person.

This 60-month Step Up Certificate (CD) is for consumer deposits only, with no institutional funds allowed.

While the 60-month Step Up CD is not listed in MIDFLORIDA CU’s Rate Table, details can be found here.

The breakdown of the tiered...

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$77 Checking Account Bonus at MIDFLORIDA Credit Union - Local Only

MIDFLORIDA Credit Union is offering a $77 cash bonus for opening one of its checking accounts. Direct deposit with a minimum of $500 is required to qualify for the bonus. This is a limited-time offer. Details are listed in this credit union promo page as of 3/8/2012. Below is the small print of the offer:

The Free Checking Account qualifies for this incentive. There is a $2 monthly fee if you choose paper statements instead of e-statements. Also, the credit union requires that you maintain a $100 balance in the savings...

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Top CD Rates & Checking Account Bonus at MIDFLORIDA Credit Union - Local Only

MIDFLORIDA Credit Union continues to have some good deals for savers. First, the credit union has competitive long-term certificate and IRA certificate rates. The best ones are a 2.00% APY CD with terms of 37 to 48 months and a 2.50% APY for terms of 49 to 60 months. The IRA CD rates are 25 basis points higher. Minimum deposit is $1,000, and the early withdrawal penalty for terms over 1 year is up to 180 days of interest (see credit union’s QA). These rates are listed at the credit...

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Checking Account Bonus & CD Deals at MIDFLORIDA Credit Union - Local Only

MIDFLORIDA Credit Union has some good deals for depositors. First, the credit union has some competitive certificate and IRA certificate rates. The most competitive ones include:

  • 2.00% APY 19-month (2.25% IRA)
  • 2.25% APY 25-month (2.50% IRA)
  • 2.50% APY 37-month (2.75% IRA)
  • 3.00% APY 49-month (3.25% IRA, 3.50% Jumbo IRA)

Senior certificate rates are 10 basis points higher than the non-IRA rates listed above. Minimum deposit is $1,000. These rates are listed at the credit union's CD rates page as of 4/16/2010. Note, you have to enter a local zip code to see these rates. I...

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