Nutmeg State Financial CU (CT) Has 20-month CD Special


Deal Summary: 20-month Certificate Special (1.70% APY); $1k new money minimum deposit; account relationship required.

Availability: Residents of the Connecticut counties of Hartford, Middlesex, New Haven, and Tolland, as well as the Connecticut towns of Bridgeport, Shelton, and Stratford.

In celebration of its new West Hartford location, Nutmeg State Financial Credit Union (NSFCU) is offering a 20-month Certificate Special (1.70% APY). The minimum deposit is $1k of new money, with no stated balance cap.

According to the fine print on the promotion page,

To qualify for this rate, this Certificate must be opened in conjunction with a new or existing money market, checking, loan, direct deposit, or merchant service ACH for business accounts.

Enrollment in e-Statements is also required to qualify for the promotional APY. If the qualifications are not met within 60 days of account opening, the APY will revert to the prevailing rate of NSFCU’s 18-month Certificate (currently 0.35% APY).

According to CSR, the Early Withdrawal Penalty for the 18-month Certificate Special is 90 days interest.


Headquartered in Rocky Hill, Connecticut, Nutmeg State Financial Credit Union’s field of membership (FOM) is primarily residency-based, with individuals who live, work, worship, attend school, or volunteer in the Connecticut counties of Hartford, Middlesex, New Haven, or Tolland, as well as the Connecticut towns of Bridgeport, Shelton, and Stratford, are eligible to join.

Membership is also open to spouses and immediate family of current members, and employees of the credit union.

Joining NSFCU can be done online or at any of nine Connecticut branches located in Rocky Hill (main office), Bristol, Cromwell, Glastonbury, Hartford, Manchester, Newington, New Britain, and West Hartford. NSFCU’s membership application is also available as a download to expedite joining.

As the 20-month Certificate Special is a limited-time offer, it must be opened in-branch or by phone (800.526.6933).

Credit Union Overview

Nutmeg State Financial Credit Union (NCUA Charter # 68657) has an overall health grade of "A" at, with a Texas ratio of 4.32% (excellent) based on September 30, 2016 data. In the past year, NSFCU has increased its total non-brokered deposits by $2.39 million, an excellent annual growth rate of 4.32%. Please refer to our financial overview of Nutmeg State Financial Credit Union for more details.

Nutmeg State Financial Credit Union was established in 1936 as the Hartford Telephone Federal Credit Union by workers at Southern New England Telephone. In December 2016, NSFCU merged with Housatonic Teachers Federal Credit Union, expanding the FOM to include the Connecticut towns of Bridgeport, Shelton, and Stratford. NSFCU is currently the sixth largest credit union in Connecticut with more than 38,400 members and assets in excess of $399 million.

I knew that Connecticut was known as "The Nutmeg State," but I didn’t know why. According to Wikipedia,

Unofficially (but popularly) Connecticut is also known as "The Nutmeg State." The origins of the nutmeg connection to Connecticut are unknown. It may have come from its sailors returning from voyages with nutmeg (which in the 18th and 19th centuries was a very valuable spice). It may have originated in the early machined sheet tin nutmeg grinders sold by early Connecticut peddlers. It is also facetiously said to come from Yankee peddlers from Connecticut who would sell small carved nobs of wood shaped to look like nutmeg to unsuspecting customers.

How the Certificate Special Compares

When compared to the 201 similar length-of-term CDs tracked by that require a similar minimum deposit and are available to residents of the greater Hartford area, Nutmeg State Financial Credit Union’s 20-Month Certificate Special APY currently ranks second.

The above rates are accurate as of 1/27/2016.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table or our Rates Map page.

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