Northeast Credit Union (NECU) has substantially raised the rate on its 48-month Share Certificate by 206 bps, giving it an all-time high APY of 3.82%. The minimum opening deposit is $500, with no stated balance cap.
|3.82%||$500||-||Northeast Credit Union||48 Month CD|
|3.82%||$500||-||Northeast Credit Union||48 Month IRA (Traditional, Roth)|
The 48-month Share Certificate is also available as an IRA (Traditional and Roth), earning the same 3.82% APY with the same funding requirements.
Once the account is opened, you may make additional deposits of $250 or more. The maximum for additional deposits is limited to the initial investment amount.
NECU’s Unique Certificate Guarantee Options apply to the 48-month Share Certificate.
Should rates go up within ten days of your certificate being opened, we will automatically increase your rate.
Unique one-time “bump” feature allows you to move your certificate to a higher rate should rates change during the term of your certificate.
Partial withdrawals are allowed. As stated in the Truth-In-Savings disclosure, the Early Withdrawal Penalty reads as follows,
We will impose a penalty if you withdraw any of the principal before the maturity date. The penalty for all other accounts [greater than 6 month terms] will equal 365 days of dividends on the amount withdrawn.
Looking to deposit more than $250k, but concerned about deposit coverage? According to the Funds Insurance page,
At Northeast Credit Union, your deposits are insured up to $500,000.
NECU has complemented the federal share insurance Opens a New Window, provided by the National Credit Union Administration (NCUA), with an additional $250,000. This savings protection is available at no charge on all qualifying accounts through ESI Opens a New Window, a private insurer.
Headquartered in Portsmouth, New Hampshire, Northeast Credit Union’s field of membership (FOM) is primarily residency based, with individuals who live, work, worship, or attend school in New Hampshire or southern York County, Maine, eligible to join.
According to the online application, “If you live, work or do business near one of our Branches (defined as within 30 miles of a branch) you are eligible for membership.”
Employees of more than 75 SEGs (listed on the online application) are membership eligible.
Family members of current NECU members are also welcome to apply.
Joining NECU and/or opening a Share Certificate can be done online, by phone (603-436-1847), or at any of 15 New Hampshire branches, located in Berlin, Concord, Conway, Dover, Exeter, Gorham, Lebanon, Lee, Manchester, Merrimack, Northwood, Plymouth, Portsmouth (2), and Rochester. There are also five Maine branch locations in Biddeford, Kennebunk, Saco, Sanford, and Westbrook.
As part of the CO-OP network, Northeast CU provides its members with access to more than 5,000 branches and nearly 30,000 surcharge-free ATMs nationwide.
Credit Union Overview
Northeast Credit Union has an overall health rating of "A" at DepositAccounts.com, with a Texas Ratio of 2.30% (excellent) based on June 30, 2018 data. In the past year, Northeast CU has increased its total non-brokered deposits by $168.6 million, an excellent annual growth rate of 17.11%. Please refer to our financial overview of Northeast Credit Union (NCUA Charter # 68219) for more details.
Founded in 1936, Northeast Credit Union was originally known as the Portsmouth NH U.S. Employees Federal Credit Union #1515. The Credit Union’s name was changed in 1977, as its size and scope began to change. Between 1982 and 1993, NECU merged with seven other New Hampshire credit unions and converted to a state-chartered credit union in 1997. The most recent merger (Woodlands Credit Union) occurred in 2013 and established a footprint in the northern portion of New Hampshire. NECU is currently New Hampshire’s second largest credit union, with more than 129,400 members and assets in excess of $1.4 billion.
How the Share Certificate Compares
When compared to 205 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available within the FOM, Northeast Credit Union’s 48-month Share Certificate APY currently ranks first.
The above rates are accurate as of 10/16/2018.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.