North Bay Credit Union (CA) Ups Long Term CD Rates

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Deal Summary: CDs – 36-month (2.77% APY), 48-month (2.93% APY), and 60-month CD (3.03% APY), $100k minimum deposit.

Availability: Residents of Sonoma County, California.

Exactly a year ago, I wrote about the extremely competitive CDs at North Bay Credit Union (NBCU). Those wow-worthy rates only lasted about five days before dropping. While the new rates on NBCU’s long-term CDs are not as impressive as the short-lived rates from February 2019, they are currently rate leaders. NBCU’s CDs have tiered APYs, which are based on deposit levels of $1k, $50k, and $100k.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.51*%$100k-North Bay Credit Union60 Month CD
OTHER TIERS: 1.41% $1k - $50k | 1.46% $50k - $100k
1.41*%$100k-North Bay Credit Union48 Month CD
OTHER TIERS: 1.31% $1k - $50k | 1.36% $50k - $100k
1.31*%$100k-North Bay Credit Union36 Month CD
OTHER TIERS: 1.21% $1k - $50k | 1.26% $50k - $100k
Rates as of April 2, 2020.

As stated in the Certificate Account Disclosure document, the Premature Withdrawal Penalty reads as follows:

We may impose a penalty if you withdraw any of the principal before the maturity date or the renewal date.

    12 and 18 month term – 180 days dividend
    24 and 36 month term – 270 days dividend
    48 and 60 month term – 360 days dividend

Availability

Headquartered in Santa Rosa, California, North Bay Credit Union’s field of membership (FOM) is primarily residency-based, with individuals who live, work, or worship in Sonoma County eligible to join.

A list of “common bond” groups that qualify for membership are listed on NBCU’s website. Included are six Select Employer Groups and 19 associations.

Family members of membership-eligible individuals are also welcome to apply. Family members include spouse, children, grandchildren, mothers, fathers, brothers, sisters, grandparents, uncles, aunts, and first cousins.

Joining NBCU can be done online or at any of four California branches located in Healdsburg, Rohnert Park, Santa Rosa, and Sonoma.

NBCU’s CD page has an “Apply Now” button, but it actually leads to a “Contact Me” form.

Please fill out the fields in the form to the right. One of our representatives
will contact you within one business day to complete the process.

CDs can also be opened at any of the above mentioned branch locations.

To establish a membership with NBCU you must open and maintain
a Share Savings account with a minimum balance of $25.

NBCU participates in the CO-OP ATM network, but not the Shared Branch network.

Credit Union Overview

North Bay Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 0.46% (excellent) based on September 30, 2019 data. In the past year, North Bay CU has increased its total non-brokered deposits by $18.94 million, an excellent annual growth rate of 45.1%. Please refer to our financial overview of North Bay Credit Union (NCUA Charter # 63373) for more details.

In 1948, members of the Sonoma County Grange pooled their savings to establish the Sonoma County Grange Credit Union. Over the years, the FOM expanded to include Sonoma County residents, with the North Bay rebrand occurring three years ago. According to a January 2017 press release,

The credit union wanted its new name and logo to be true to its agricultural origins, and to quickly convey who it serves. The new logo features grapes and accent colors as a nod to Sonoma County and North Bay viticulture.

“We certainly honor our founders’ commitment to the North Bay by caring for our members’ overall financial wellbeing,” said Chris Call, CEO. “We offer a full line of services, catering to the specific needs of our community. You won’t find many places that make loans for agricultural land purchases, farm equipment, and students’ 4H and FFA projects.”

How the CDs Compare

When compared to 230 similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, North Bay Credit Union’s 60-month CD APYs currently rank first, second, and third, regardless of deposit requirements.

When compared to 220 similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, North Bay Credit Union’s 48-month CD APYs currently rank first, second, and third, regardless of deposit requirements.

When compared to 267 similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, North Bay Credit Union’s 36-month CD top APY currently ranks first, regardless of deposit requirements.

The above rates are accurate as of 2/7/2020.

To look for the best CD rates, either nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Salt Lake City CD rates, San Francisco Bay CD rates, 5-year CD rates

Comments
Top CD Rates Didn’t Last Long at North Bay Credit Union (CA)
UPDATE 2/5/2019: Rates lowered – 60-month CD (3.28% APY) and 12-month CD (2.51% APY).

Deal Summary: 12-month CD (3.02% APY) and 60-month CD (4.03% APY), $100k minimum deposit.

Availability: Residents of Sonoma County, California.

When I saw the new rates for North Bay Credit Union’s (North Bay CU) CDs, I assumed it was an error, since across-the-board 100 bps increases seemed unlikely. Happily, I was wrong. The CDs have tiered APYs, based on deposit levels of $1k, $50k, and $100k. Of the five, the 12- and...

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