It’s been more than two years since my last blog post on NavyArmy Community Credit Union (NavyArmy), simply because there haven’t been any good deals available. The addition of a 30-month CD (2.75% APY) to the product line last week is definitely worth writing about. This new 30-month CD can be opened with a $1k minimum deposit, and there is no stated balance cap.
As stated in NavyArmy’s Member Account Agreement, the Early Withdrawal Penalty read as follows:
The penalty we may impose will equal 180 days interest whether earned or not.
I first reported on NavyArmy’s Liberty Checking in 2009 when the top rate was 4.51% APY. The rate has fallen, but it is still very competitive. The reward checking account now earns 3.01% APY on qualifying balances up to $25k. Qualifying balances of $25k+ earn 0.51% APY, with non-qualify balances earning 0.10% APY.
|3.01*%||-||$25k||Navy Army Community Credit Union||Liberty Checking Share Draft|
|OTHER TIERS: 0.51% → $25k+|
Monthly qualifying balance requirements are:
- Enroll in and receive Electronic Statements.
- At least 10 debit card transactions.
- At least one monthly Direct Deposit to, OR,
- At least one monthly ACH payment from the account.
The Liberty Checking account has no monthly fees or monthly minimum balance requirement, and can be opened with a minimum deposit of $20. Unlimited nationwide ATM fees will be refunded, as long as the qualifying requirements are met. There is a limit of only one Liberty Checking account per household.
Headquartered in Corpus Christi, Texas, NavyArmy Community Credit Union’s name would seem to suggest a field of membership (FOM) with some type of military relationship requirement. Instead, the FOM is residency-based, 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..
While NavyArmy does have several online banking features for account management (including POPmoney), opening a CD requires an in-person visit to any of the above mentioned branch locations.
Credit Union Overview
NavyArmy Community Credit Union has an overall health grade of "B" at DepositAccounts.com, with a Texas ratio of 20.71% (above average) based on December 31, 2017 data. In the past year, NavyArmy has increased its total non-brokered deposits by $177.1 million, an excellent annual growth rate of 7.94%. Please refer to our financial overview of NavyArmy Community Credit Union (NCUA Charter # 68615) for more details.
NavyArmy Community Credit Union 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 in 2011, when a state charter was granted that allowed NavyArmy to expand into two additional counties in the Rio Grande Valley. NavyArmy is the sixth largest credit union in Texas, with more than 161,500 members and assets in excess of $2.7 billion.
How the CD Compares
When compared to the 218 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, NavyArmy Community Credit Union's 30-month CD APY currently ranks first.
The above rates are accurate as of 4/16/2018.
To search for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.