Mid-Minnesota FCU Raises Rate On 36-Month Fast Forward CD


Availability: Residents of Aitkin, Becker, Cass, Crow Wing, Douglas, Morrison, Norman, Todd, and Wadena Counties, Minnesota.

Last week, Mid-Minnesota Federal Credit Union (MMFCU) raised the rate on its 36-month Fast Forward Term Share Account (1.93% APY). The “Fast Forward” portion is actually an add-on feature that requires monthly deposits between $10 and $500. There is a $10 penalty if a monthly deposit is not made.

The Fast Forward Term Share Account can be opened with a minimum deposit of $10 and there is no cap on the initial deposit.

The Fast Forward Term Share Account has been part of MMFCU’s product line for more than seven years and has experienced more than 40 rate changes in that time, with 92 basis points added since July 2016.

In a Live Chat, CSR stated that the Early Withdrawal Penalty is "lost interest going forward." In other words, if you withdraw $5k and there's six months left until maturity, you lose six months interest on the $5k.


Headquartered in Baxter, Mid-Minnesota Federal Credit Union’s field of membership (FOM) is primarily residency based, with individuals who live, work, worship, or attend school in the Minnesota counties of Becker, Cass, Crow Wing, Douglas, Morrison, Norman, Todd, and Wadena, and 18 townships in Aitkin County eligible for membership.

Blood relatives of membership-eligible individuals also qualify to join MMFCU.

Joining MMFCU and/or opening a Fast Forward Term Share Account can be done online, or at any of eight Minnesota branches located in Alexandria, Baxter, Brainerd, Crosby, Little Falls, Pequot Lake, Staples, and Twin Valley.

Credit Union Overview

Mid-Minnesota Federal Credit Union (NCUA Charter # 20194) has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 9.32% (excellent) based on September 30, 2016 data. In the past year, MMFCU has increased its total deposits by $24.32 million, an excellent annual growth rate of 10.16%. Please refer to our financial overview of Mid-Minnesota Federal Credit Union for more details.

Mid-Minnesota Federal Credit Union began in 1956 as the Northwest Employees Credit Union. Twenty four years later, the Credit Union was rebranded as the Brainerd Community Federal Credit Union, and “we changed our name for good in 1982 when we became Mid-Minnesota Federal Credit Union.” MMFCU is the 14th largest credit union in Minnesota, with more than 39,000 members and assets in excess of $309 million.

How the Fast Forward Term Share Account Compares

When compared to the 343 similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, Mid-Minnesota Federal Credit Union’s 36-Month Fast Forward Term Share Account APY currently ranks second.

The above rates are accurate as of 1/9/2017.

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

Mid-Minnesota FCU 36-month Fast Forward CD Grows with Monthly Deposits

Mid-Minnesota Federal Credit Union (MMFCU) has raised the rate on its 36-Month Fast Forward Certificate Special (1.76% APY). The Fast Forward Certificate Special is designed to allow the investor the opportunity to earn dividends, while continuing to build the balance. The minimum deposit to open this Certificate Special is $10, and monthly deposits of between $10 and $500 are required. There is a $10 penalty if a monthly deposit is missed.

MMFCU also has an interesting savings account: the Estate Savings Account (1.02% APY). It's...

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2.25% 7-Month CD & 2.35% 13-Month CD at Mid-Minnesota FCU - Local Only
Mid-Minnesota FCU is offering three competitive certificate specials: 2.25% APY for 7 months, 2.35% APY for 13 months and 2.50% APY for 25 months. Minimum deposit is $2,500. These specials are listed on the credit union's front page as of 10/09/2009.

Membership is open to anyone who lives, works, worships or attends school in any of the following counties of Minnesota: Cass, Crow Wing, Douglas, Morrison, Todd, and Wadena. You can also be eligible if you have a relative who meets the above criteria. Please refer to the credit union's...

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