Nine months ago, I wrote about Mobility Credit Union’s (Mobility CU) competitive CDs, including the 9-month CD, which earned 1.00% APY at the time. At the beginning of October, the rate dropped to 0.75% APY, and it has held steady since then. The rates of all of Mobility CU's CDs remain competitive, but the 9-month CD currently has the most competitive rate. The minimum opening deposit is $500, and there is no stated balance cap.
According to CSR, the early withdrawal penalty (EWP) for any CD is $25 or six months of interest, whichever is higher. Only early closures are allowed; no partial withdrawals are permitted. CSR also stated that while EWPs had been suspended during the COVID pandemic, the EWPs have been reinstated.
Funding and Accessing Maturing Funds
CSR stated that easiest way to fund a CD is through a transfer from a Mobility savings account. Mobility CU participates in the CO-OP Shared Branch network, which makes depositing funds relatively easy.
There is a ten calendar day grace period before any Mobility CU CD automatically renews. Maturing funds can be distributed by check or deposited into a Mobility CU savings or checking account.
Headquartered in Irving, Texas, Mobility Credit Union's field of membership (FOM) includes an easy membership option for all Texas residents through the Texas Consumer Council (TXCC).
Mobility Credit Union will handle everything, including your fee to join. Your name, address, email and phone number will be shared with TXCC as part of the enrollment process.
Individuals who live, work, worship, or attend school in the Texas counties of Collin, Dallas, Denton, Ellis, Fannin, Grayson, Hunt, Johnson, Kaufman, Parker, Rockwall, Tarrant or Wise, are also eligible to join.
Family members of a current Mobility CU member also qualify for membership, no matter where they live. Mobility CU defines family members as spouse, significant other, parent, child/step-child, sibling, niece, nephew, and grandparent.
CSR stated opening a CD can be done online, in-person, or over the phone (800.388.7889).
Opening a Regular Share Savings account with a minimum $25 deposit establishes a Mobility CU membership.
Mobility CU participates in both the CO-OP Shared Branch and ATM networks.
With access to over 30,000 ATMs and over 5,000 shared branches, you
always have access to your money nationwide where ever you may travel.
Credit Union Overview
Mobility Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 10.85% (above average) based on December 31, 2020 data. In the past year, Mobility CU has increased its total non-brokered deposits by $16.8 million, resulting in an excellent annual growth rate of 8.76%. Please refer to our financial overview of Mobility Credit Union (NCUA Charter # 68606) for more details.
In 1965, 14 employees met in the Dallas IBM facility’s lunchroom, collected $150, and founded the IBM Southwest Employees Federal Credit Union. As the FOM grew and diversified, the name was changed to YOUR Credit Union, as a “better reflection of the Credit Union’s strategic vision.”
With the advances in technology, which redefined banking convenience, along with a growing and younger mobile society, we determined that a new name was needed to convey our capability to meet the dynamic changes taking place in the market place. In 2014, we changed our name to MOBILITY Credit Union. The name depicts our ability to enable members to conduct banking transactions from anywhere and at any time, 365 days a year, 24 hours a day.
Mobility Credit Union is currently the 85th largest credit union in Texas, with nearly 18,000 members and assets in excess of $246 million.
How the CD Compares
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available to all Texas residents, Mobility’s Credit Union's 9-month CD APY current shares the top spot with Veridian Credit Union’s 7-month CD Special APY.
The above information and rates are accurate as of 5/24/2021.
To search for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.