Neighbors Federal Credit Union Offers Top 36-Month CD, 3.37% APY
Neighbors Federal Credit Union (Neighbors FCU) is currently offering competitive rates on several of its Share Certificates: 9-month (2.70% APY), 36-month (3.37% APY), and 60-month (3.57% APY). Any of the Share Certificates can be opened with a $1.5k minimum deposit. While there is no stated balance cap, the online application limits the deposit to $50k. CSR stated larger deposits can be accommodated in-branch or by phone.
The Share Certificates are also available as IRAs, (Traditional, Roth, CESA), earning the same APYs with the same funding requirements.
The Early Withdrawal Penalty is not listed on Neighbors FCU’s website, but CSR kindly sent me a copy, which reads as follows:
For Term Share Certificates with a remaining term of 730 days or less, the early withdrawal penalty will be an amount equal to 50% of the remaining dividends that would have been paid on the amount withdrawn had the early withdrawal not occurred.
For Term Share Certificates with a remaining term greater than 730 days, the early withdrawal penalty will be an amount equal to 5% of the amount being withdrawn.
Availability
Headquartered in Baton Rouge, Louisiana, Neighbors Federal Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, worship, or attend school in any of the following Louisiana parishes eligible to join.
Ascension, East Baton Rouge, East Feliciana, Iberville, Livingston, Pointe Coupee, Saint Helena, West Baton Rouge, or West Feliciana.
Immediate family members of eligible individuals are also eligible to apply.
Joining Neighbors FCU and/or opening a Share Certificate can be done online, or at any of 14 Louisiana branches located in Baton Rouge (7), Denham Springs (2), Port Allen (2), Prairieville, Walker, and Zachary.
Credit Union Overview
Neighbors Federal Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 5.56% (excellent) based on September 30, 2018 data. Neighbors FCU has an average capitalization level (9.11%), the result of holding $851.78 million in assets with $77.6 million in equity. Please refer to our financial overview of Neighbors Federal Credit Union (NCUA Charter # 9229) for more details.
Neighbors Federal Credit Union is currently Louisiana’s third largest credit union, with more than 73,000 members and assets in excess of $851 million. Originally known as Baton Rouge Teachers Federal Credit Union, the Credit Union was established in 1954 by five teachers with an initial deposit of $150 – stored in a shoe box. A committed supporter of the community, Neighbors FCU was the primary sponsor for the tenth year in a row for “Pat’s Coats for Kids”, which collected $94,000 and more nearly 7,500 donated coats.
How the Share Certificates Compare
When compared to 222 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Neighbors Federal Credit Union's 36-month Share Certificate APY currently ranks first.
When compared to 199 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Neighbors Federal Credit Union's 60-month Share Certificate APY currently ranks second.
When compared to 215 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Neighbors Federal Credit Union's 9-month Share Certificate APY currently ranks second.
The above rates are accurate as of 3/1/2019.
To look for the best CD rates, both nationwide and in your state, please refer to our CD Rates Table page.
