Over the weekend, Navigant Credit Union (Navigant) has added a 23-months CD, which earns 3.00% APY. The new CD can be opened with a $500 minimum deposit of new money, and there is no stated balance cap.
The 23-months CD and 13-months CD (2.50% APY) are the only competitive certificates in Navigant’s product line. The other CDs offer APYs that range from 0.25% to 1.25% APY, for terms between 6 months to 5 years.
According to CSR, the Early Withdrawal Penalty is “3% of the amount being withdrawn.”
Headquartered in Smithfield, Rhode Island, Navigant Credit Union’s field of membership (FOM) includes the residents of Rhode Island, and residents of nearby Massachusetts and Connecticut, with eligibility based on Zip Code.
I entered a variety of Zip Codes in the online application and it seems that Massachusetts and Connecticut towns within approximately 20 miles of the Rhode Island state line qualify.
Navigant’s New Account reads, “Anyone can join.” Unfortunately, “anyone” has to live in any of the above mentioned areas to qualify for membership.
Since I last wrote about Navigant, an online application has been added to the website. While you can now join Navigant online, the only CD currently available online is the 18-month Bump-Up. The CD drop down on the first page of the online application states,
Additional terms available by visiting your local
branch or contacting our Call Center at 401.233.4700.
Navigant has 17 Rhode Island branches, located in Central Falls, Chepachet, Cumberland (2), East Greenwich, Greenville, Lincoln, Manville, North Smithfield, Pawtucket, Riverside, Rumford, Scituate, Smithfield, Warren, Warwick, and Woonsocket.
Credit Union Overview
Navigant Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 2.32% (excellent) based on March 31, 2018 data. In the past year, Navigant has increased its total non-brokered deposits by $158.83 million, an excellent annual growth rate of 10.99%. Please refer to our financial overview of Navigant Credit Union (NCUA Charter # 62882) for more details.
Navigant Credit Union has served the Blackstone Valley Area in Rhode Island for more than 100 years. With incorporation papers filed in March 1915, "La Credit Union de Notre Dame de Central Falls" became Rhode Island’s first credit union. The name reflected the Credit Union’s location (the basement of Notre Dame Parish), rather than an affiliation with the Parish. In the past 103 years, the Credit Union as re-branded twice, with both changes reflecting the growing membership. From the modest beginnings in a church basement, Navigant Credit Union has grown to become the second largest credit union in Rhode Island, with more than 88,100 members and assets in excess of $2 billion.
How the CD Compares
When compared to other similar length-of-term CDs tracked by DepositAccounts.com, that require a similar minimum deposit and are available within the FOM, Navigant Credit Union's 23-Months CD APY currently shares the top rung with Pawtucket Credit Union’s 25-month CD APY.
The above rates are accurate as of 6/15/2018.
To search for the best CD rates, either nationally available or state-specific, please refer to our CD Rates Table page.