Hot 19-Month CD Special at Money One Federal Credit Union

POSTED ON BY

Update 12/16/13: This CD special has ended.

In today’s interest rate environment, any short- or mid-term CD with a rate near 2% is a hot deal. That’s the case with the CD special at Money One Federal Credit Union. It’s offering a promotional share certificate with a 19-month term and a 1.90% APY. Minimum deposit is $9,000, and the maximum deposit is $99,000. New money is required. This rate is listed on the top of the credit union’s share certificates page as of 11/07/2013.

This credit union also offers reward checking and savings accounts under the Kasasa brand. I have more details about these accounts in my Money One Kasasa account review.

Membership Eligibility

The credit union’s "Open an Account" page describes how you can be eligible to open an account:

There are three ways to be eligible to open an account with Money One.

1. If you are an employee or member of any of the nearly 100 approved employers, churches, and organizations.

2. You are an immediate family member or household member of anyone who meets criteria #1.

3. If you don't meet #1 or #2, you can become eligible simply by making a one-time donation to Gifts for Easter Seals. Use this Easter Seals Donation Form and bring it to any Money One location to complete your application.

There’s an online application, but I noticed a "residency requirement". It appears a new member must reside in either DC, Maryland or Virginia to meet this residency requirement. Also, the online application doesn’t list this 19-month CD special as an option. I’ve sent a message to the credit union asking about these two issues. I’ll update this post when I get their reply.

Update 11/15/13: I received a reply from the credit union. According to the Money One representative, the special certificate cannot be opened online for people out-of-town. They will open certificates for people out of town by phone. Their phone # is 301-925-4600.

Credit Union Overview

Money One has a long history of CD specials. Several readers may remember its old CD specials back in 2008 when it was offering a special 5.25% 9-month Add-On CD.

Money One FCU branches are located in Largo and College Park, Maryland. The credit union is part of the shared branch network.

The credit union has an overall health grade at DepositAccounts.com of a C+ with a Texas Ratio of 14.63% (above average) based on June 2013 data. Please refer to our financial overview of Money One Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 7264).

How This CD Rate Compares

There are two good CD specials with similar terms at all-access credit unions. One is a 2.02% APY 3-year CD at PenFed, and the other is a 1.50% APY 15-month CD at McGraw-Hill Federal Credit Union. This 15-month CD requires an active checking account with direct deposit.

The best 18-month CD rate at an internet bank is 1.15% APY at GE Capital Bank.

These rates are accurate as of 11/7/2013.

Searching for the Best CD and IRA CD Rates

To search for the best nationwide rates and the best rates in your state, please refer to our CD rates tables and IRA CD rates tables.

Comments
Anonymous
Anonymous   |     |   Comment #1
I tried to open the online application.  Residence required!  So that stopped me short & dead in the water.:)
QED
QED   |     |   Comment #2
No toll-free telephone number?  Anybody have it?  Maybe that's part of the residency requirement thing.
CapitalClimate
CapitalClimate (anonymous)   |     |   Comment #3
Thanks to Ken for posting about this little-known local resource.  For those who meet the geographic conditions, the YMCA is listed as a qualifying group (including members).  I never expected that Y membership would have fiscal as well as physical fitness benefits.

The online membership application process is quite smooth, but it requires confirmation before it is complete: "One of our representatives will contact you within one business day." The call center told me that the CD special can't be opened online; it requires a phone call or branch visit (Largo or College Park/Greenbelt).
Anonymous
Anonymous   |     |   Comment #4
Now 0.42%?  If so, this deal sure went fast.
CapitalClimate
CapitalClimate (anonymous)   |     |   Comment #5
#4, The 19-month special is still shown on the rate page in the left column.  The 0.42% is for 18 months.  The link:

http://www.moneyonefcu.org/rates.html#sc
Anonymous
Anonymous   |     |   Comment #6
You guys can jump through hoops for a 1.9% cd, not me.
Anonymous
Anonymous   |     |   Comment #7
Not worth the hussle. I will not even look at their web site.
QED
QED   |     |   Comment #8
Speaking in general (although this CD does conform to my generality), I appreciate Ken's having posted a shorter term CD like this.  I believe right now it's more about the term of any CD than about the rate.  CDs like this offer an alternative to the five year variety.  And new five year CDs, right now, simply don't appear to be good investments.
Competitive Reward Checking at Money One FCU - Easy Membership

Money One Federal Credit Union continues to offer a competitive reward checking account. It now has the Kasasa brand and an online application that allows anyone to join and open the account. I first reported on this reward checking account last year. During that time, its rates and balance cap have remained the same. The account has become more competitive as reward checking rates have fallen at other banks and credit unions. The credit union also offers a linked savings account called Kasasa Saver, but this isn't as noteworthy as...

Continue Reading
Competitive Money Market and Reward Checking Rates at Money One FCU - Easy Membership

Money One Federal Credit Union is offering some competitive rates on its Premium Insured Money Market Account. It's a tiered rate account with a top rate of 1.21% APY for a $100K minimum. Balances of $50K to $100K earn 1.06% APY, and balances of $25K to $50K earn 0.80%. The rate goes way down to 0.35% for balances under $25K. These rates are listed in the credit union rates page as of 10/04/2011. Thanks to the reader who emailed me news of this account.

The credit union also offers a rewards...

Continue Reading
2.90% 29-Month CD at Money One FCU in Maryland - Local Only
Money One Federal Credit Union has a "Holding on to 29" CD promotion. It's a 29-month CD with a 2.90% APY. Minimum deposit is $29,000, and new money is required. New members must live within a 29 mile radius of the credit union and qualify for membership. This promotion is listed in the credit union's Current Promotions page as of 10/12/09.

My last report on this credit union was in January 2008 when they were offering a 5.25% 9-month CD. The credit union allows anyone to join so this was an...

Continue Reading
5.25% 9-Month Add-On CD Still Available at Money One FCU (easy membership)
Update 1/29/08: It has been reported that this special CD has ended for new members.

Money One Federal Credit Union is still listing a special 5.25% APY 9-month share certificate. The minimum deposit is $5,000. New money is required. In addition to the high yield, the CD allows you to add-on to your balance one time within the first 5 months. For those who have CDs maturity in a few weeks, this feature could come in handy.

I first reported on this special in December, and a reader just commented that it's...



Continue Reading
5.25% 9-Month CD at a Maryland CU - Easy Membership (Money One).
Update 2/2/08: This CD special has ended.

Money One Federal Credit Union is offering a special 5.25% APY 9-month share certificate. The minimum deposit is $5,000. New money is required. You can add-on to your balance one time within the first 5 months.

Membership is open to anyone who makes a one-time membership donation to Gifts for Easter Seals. There's also a long list of Select Employee Groups. Please refer to their membership page for more details. Membership requires a minimum deposit of $5 into your share savings account.

The credit union is...





Continue Reading