Nebraska-based Mutual First Federal Credit Union (Mutual 1st Federal) is currently offering three Certificate Specials: 43-month (3.12% APY), 29-month (2.58% APY), and 15-month (2.22% APY). Of the three, the 43-month has the most competitive APY. Any of the Certificate Specials can be opened with $1k minimum deposit and there is no stated balance cap.
As stated in the fine print on the Certificate Rates page, the Early Withdrawal Penalty reads as follows:
Specialty Certificates’ penalty is 180 days of dividends.
The grace period before automatic renewal is quite short, but CSR stated it could be modified.
Certificates are automatically renewed 5 days after maturity unless otherwise requested.
Kasasa Brand Products
The Free Kasasa Cash Checking account earns 2.02% APY on qualifying balances up to $15k. Qualifying balances of $15k+ earn 0.15% APY, with non-qualifying balances earning 0.05% APY. The companion Kasasa Saver account only earns 0.50% APY on qualifying balances up to $15k and 0.15% APY on qualifying balances of $15k+. Either account can be opened with a $25 minimum deposit and there is a limit of one per Social Security number.
|3.00*%||-||$15k||Mutual First Federal Credit Union||Kasasa Cash Checking|
|OTHER TIERS: 0.15% → $15k+|
|0.45*%||-||$15k||Mutual First Federal Credit Union||Kasasa Saver|
|OTHER TIERS: 0.30% → $15k+|
The qualify requirements are typical for a Kasasa Cash account.
- At least 1 direct deposit or ACH payment transaction
- At least 12 debit card purchases
- Be enrolled in and agree to receive e-statements
Headquartered in Omaha, Nebraska, Mutual First Federal Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, worship, or attend school in the Nebraska counties of Cass, Douglas, Sarpy, or Washington, or Pottawattamie County, Iowa eligible to join.
Immediate family members of current Mutual 1st Federal are also welcome to apply.
A primary account is used to establish your ownership in
the credit union, secured by your $5.00 membership pledge.
While the 15- and 29-month Certificate Specials are listed on the online application, the 43-month is not. CSR suggested this workaround: after completing the online application, the 43-month Certificate Special can be opened by calling 877.697.8545. If you live in the Omaha area, opening a Certificate Special can be done at either branch location.
Mutual 1st Federal offers its members access to 3,500 credit unions with more than 5,000 branches, and nearly 30,000 surcharge-free ATMs nationwide, through the CO-OP Shared Branch network.
Mutual 1st Federal participates in Shared Branching, a network of credit unions
that you can access for free, just as if you were at one of our locations.
Credit Union Overview
Mutual First Federal Credit Union has an overall health grade of "B" at DepositAccounts.com, with a Texas Ratio of 10.38% (excellent), based on March 31, 2019 data. Mutual 1st Federal has an above average capitalization level (9.77% APY), the result of holding $96.59 million in assets with $9.44 million in equity. Please refer to our financial overview of Mutual First Federal Credit Union (NCUA Charter # 24540) for more details.
Founded in 1949 as the Mutual of Omaha Employees Credit Union, Mutual First Federal Credit Union is currently Nebraska’s 11th largest credit union, with nearly 11,700 members and assets in excess of $96 million. In 1995, a community charter was adopted, opening the FOM to the Omaha five-county metro area, while continuing to serve its “core group of legacy members.”
How the Certificate Special Compares
When compared to 210 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Mutual First Federal Credit Union’s 43-month Certificate Special APY currently ranks second.
The above rates are accurate as of 6/14/2019.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.