NavyArmy CCU Increases Rates On 2- And 3-Year CDs
NavyArmy Community City Union (NavyArmy) has had a busy week: the announcement of a 10% Bonus Dividend for 2015 being paid (thanks to PearlBrown for letting us know about that good news), and an increase in the rates for its 2-Year Term Share Account (1.75% APY) and 3-Year Term Share Account (2.25% APY).
The minimum deposit to earn the stated APYs is $100K, with no balance cap. Minimum deposits of $1-$99,999K earn APYs 25 basis points lower.
The 2-Year Term Share Account is also offered as an IRA (Traditional, Roth, CESA) earning 1.75% APY for balances of $100K+ and 1.60% APY for balances <$100K. The 3-Year Term Share Account is not available as an IRA.
As stated in NavyArmy’s Member Account Agreement, the Early Withdrawal Penalties read as follows:
2-Year - The penalty we may impose will equal 180 days interest whether earned or not.
3-Year - The penalty we may impose will equal 365 days interest whether earned or not.
Liberty Checking
NavyArmy’s Liberty Checking has maintained its 3.51% APY (on qualifying balances up to $25K) for almost four years. This fee-free RCA requires a minimum opening deposit of $20, with only one Liberty Checking account per household.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 3.51*% | - | $25k | Navy Army Community Credit Union | Liberty Checking Share Draft | |
| OTHER TIERS: 0.51% → $25k+ | |||||
Monthly requirements for qualifying balances are:
- At least 10 debit card transactions.
- At least one monthly Direct Deposit to, OR,
- At least one monthly ACH payment from the account.
- Enroll in and receive Electronic Statements
Availability
Headquartered in Corpus Christi, Texas, NavyArmy Community Credit Union’s name suggests a field of membership with a military relationship requirement. In fact, it’s a community-based credit union, with individuals who live, work, worship, or attend school in the South Texas counties of Aransas, Bee, Cameron, Hidalgo, Jim Wells, Kleberg, Nueces, and San Patricio eligible for membership.
Joining NavyArmy can be done online or at any of 19 Texas branches located in Beeville, Brownsville, Corpus Christi (11), Edinburg, Kingsville, McAllen, Mission, Portland, and Rockport.
While NavyArmy does have several online banking features for account management (including POPmoney), opening a CD requires an in-person to any of the above mentioned branch locations.
Credit Union Overview
NavyArmy Community Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 5.78% (excellent) based on September 30, 2015 data. In the past year, NavyArmy has increased its total deposits by $125 Million, an excellent annual growth rate of 6.42%. Please refer to our financial overview of Navy Arm Community Credit Union for more details.
NavyArmy Community Credit Union (NCUA Charter # 68615) was chartered in 1955 as the Naval Employees Corpus Christi Federal Credit Union. After a couple of name changes, the Credit Union adopted its present name when a state charter was granted in 2011, which also allowed NavyArmy to expand into two additional counties in the Rio Grande Valley. NavyArmy is South Texas’ largest credit union, with more than 140,700 members and assets in excess of $2.3 Billion.
How the CDs Compare
When compared to the 453 similar length-of-term CDs tracked by DepositAccounts.com that are available to Texas residents, NavyArmy Community Credit Union's 2-year Term Share Accounts (100K+ and <$100K) currently rank in the top five.
When compared to the 421 similar length-of-term CDs tracked by DepositAccounts.com that are available to Texas residents, NavyArmy Community Credit Union's 3-year Term Share Accounts (100K+ and <$100K) currently rank in the top three.
The above rates are accurate as of 12/24/2015.
To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.
