Notre Dame Fed Credit Union Has Easy Membership Requirement Option
Indiana-based Notre Dame Federal Credit Union (NDFCU) is currently offering two Certificate Specials with market-leading rates: 11-18 months (5.55% APY) and 36-month (5.25% APY). There is no minimum opening deposit and no stated balance cap.
The Certificate Specials are also available as IRAs (Traditional, Roth, CESA), earning the same APYs with the same funding requirements.
Early Withdrawal Penalty
As stated in the Fee Schedule, the Early Withdrawal Penalty reads as follows:
If your account has an original maturity of 11 months or less: 90 days worth of dividends whether earned or not.
If your account has an original maturity between 12-29 months: 180 days worth of dividends whether earned or not.
If your account has an original maturity between 30-47 months: 365 days worth of dividends whether earned or not.
CSR confirmed that partial withdrawals are allowed, but the principal is not protected.
Availability
Headquartered in Notre Dame, Indiana, Notre Dame Federal Credit Union’s field of membership (FOM) includes a “quiet” easy membership requirement, giving virtually all U.S. citizens and resident aliens a path to membership.
As DA reader, bankcd2024, noted in a recent Forum post, membership in NDFCU is available to anyone by making a one-time $20 donation to Holy Cross College Alumni Association (HCCAA).
The HCCAA is one of more than 1,200 Affiliated Organizations that qualify for NDFCU membership. Employees and members of a variety of companies, associations, churches (Roman Catholic and Protestant), and schools are eligible for membership.
A small sampling of the Affiliated Organizations includes the University of Notre Dame, Saint Mary's College, Holy Cross College, Holy Cross College Alumni Association, St. Patrick Catholic Community, St. Thomas the Apostle Catholic Church, and Granger Community Church.
Those who live, work, worship, or attend school in Michiana, the City of Fort Wayne, or Lake County, Indiana are also eligible to join. Michiana is a region in northern Indiana and southwest Michigan centered on the city of South Bend. It includes the Indiana counties of Elkhart, La Porte, Marshall, St. Joseph, and Starke, and the Michigan counties of Berrien and Cass.
Household members and immediate family members (defined as spouse, parent, grandparent, children, grandchildren, siblings and their spouses) of current NDFCU members are eligible to join.
Account Opening
Joining NDFCU can be done online or in person at any of nine Indiana branches located in Granger, Mishawaka, Notre Dame (2), South Bend (5), and Whiting. Appointments are available and can be online.
All it takes is $5 to deposit into your new Share Savings account. That $5 represents your ownership share in Notre Dame FCU.
According to CSR, an NDFCU membership must be established before a Certificate Special can be opened. If none of the above-mentioned branches are not convenient, you can,
Fill out this form and we will reach out to you to get started on your Certificate Application.
CSR explained that when NDFCU “reaches out,” you will be asked how you qualify for membership. Just answer “$20 donation to HCCAA” and the donation can be made over the phone.
Many thanks to bankcd2024 for the Forum post!
Funding and Other Details
The following information is from a conversation with CSR.
- Funding – ACH, wire, check, Shared Branch, or internal transfer. Funds must be on deposit at NDFCU before opening a Certificate.
- CO-OP Shared Branch Participant – Yes.
- Ownership – Individual, joint, trust.
- Dividends – Compounded/credited monthly; can be transferred into an NDFCU Share Savings account.
- Maturing Funds – Internal transfer into an NDFCU Share Savings account.
- Beneficiaries – Unlimited, percentages can be assigned. Social Security numbers are required.
- Grace Period – 10 calendar days before automatic renewal.
- Credit Check – Hard pull when joining; NDFCU uses all three reporting agencies.
Credit Union Overview
Notre Dame Federal Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 7.83% (excellent), based on September 30, 2023 data. In the past year, NDFCU has increased its total non-brokered deposits by $64.22 million, an excellent annual growth rate of 7.39%. Please refer to our financial overview of Notre Dame Federal Credit Union (NCUA Charter #24034) for more details.
Established in 1941, Notre Dame Federal Credit Union is currently Indiana’s twelfth largest credit union, with nearly 64,000 members and assets in excess of $1.1 billion. According to an April 2023 Credit Union Times article,
Notre Dame Federal Credit Union was among the nation’s fastest growing credit unions last year, and this year the Indiana credit union will get a boost with the addition of a new employer segment.
On Monday, Notre Dame FCU announced its Select Employer Groups (SEGs) now include the City of South Bend employees, retirees and family members. The city, population 103,653 in 2021, is Indiana’s fourth largest and now has 1,100 eligible employees.
How the 36-Month Certificate Special Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com which are available within the FOM and have minimum deposit requirements of $10k or less, no bank or credit union has a higher rate than currently offered on the Notre Dame Federal Credit Union 36-month Certificate Special. The following table compares the 36-month Certificate Special to the four highest-rate CDs from other banks/credit unions within the market area.
How the 11-18 Month Certificate Special Compares to 18-Month CDs
When compared to 18-month CDs tracked by DepositAccounts.com which are available nationwide and have minimum deposit requirements of $10k or less, no bank or credit union has a higher rate than currently offered on the Notre Dame Federal Credit Union 11-18 month Certificate Special. The following table compares the 11-18 -month Certificate Special to the four highest-rate CDs from other banks/credit unions within the market area.
How the 11-18 Month Certificate Special Compares to 1-Year CDs
When compared to 1-year CDs tracked by DepositAccounts.com which are available nationwide and have minimum deposit requirements of $10k or less, no bank or credit union has a higher rate than currently offered on the Notre Dame Federal Credit Union 11-18 month Certificate Special. The following table compares the 11-18 -month Certificate Special to the four highest-rate CDs from other banks/credit unions within the market area.
| APY | CD Term (Early Withdrawal Penalty) | Credit Union/Bank |
|---|---|---|
| 5.55% | 11-18 month Share Certificate Special (EWP=90 days) | Notre Dame Federal Credit Union |
| 5.50% | 13-Month CD Special (EWP=90 days) | T Bank |
| 5.40% | 12-Month CD (EWP=90 days) | Bask Bank |
| 5.40% | 12-Month Certificate (EWP=90 days) | Alliant Credit Union |
| 5.40% | 12-Month Certificate Special (EWP=90 days) | USALLIANCE Financial |
The above information and rates are accurate as of 3/7/2024.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.
