OnPath Federal Credit Union Long-Term CDs

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UPDATE 5/1/2020: Rates were dropped this morning - 48-month CD (1.35% APY), 60-month CD (1.45% APY).

Deal Summary: 48-month CD (2.25% APY), 60-month CD (2.50% APY), $1k minimum deposit.

Availability: Residents of the Greater New Orlean metro area and the Louisiana parishes of Lafourche, Orleans, St. Benedict’s, St. Charles, and St. Tammany; employees of 600+ SEGs.

In the three years since I last wrote about OnPath Federal Credit Union (OnPath), a lot has changed for the Credit Union: a new name (formerly ASI Federal Credit Union), an expanded field of membership, and a new online application. What hasn’t changed (at least not much) are the competitive rates on its long-term CDs. The 48-month CD currently earns 2.25% APY, with the 60-month CD earning 2.50% APY. The minimum deposit is $1k, with no stated balance cap.

Both CDs are also available as IRAs (Traditional, Roth), earning the same APYs with the same funding requirements.

While the old ASI CFU website included the Truth-in-Savings disclosure, it's missing from the new OnPath website. CSR confirmed that the Early Withdrawal Penalty has not changed: CDs with terms of greater than one year will forfeit all dividends earned, not to exceed 180 days dividends.

Availability

Headquartered in Harahan, Louisiana, OnPath Federal Credit Union’s field of membership (FOM) is primarily residency-based, with individuals who live, work, worship, or attend school in the Greater New Orleans area (including the municipalities of Abita Springs, Algiers, Avondale, Bridge City, Covington, Folsum, Gretna, Harvey, Kenner, Marrero, Thibodaux, Ville Platte, Waggaman, and Westwego) eligible to join.

Those who live, work, worship, or attend school in the Louisiana parishes of Lafourche, Orleans, St. Benedict’s, St. Charles, or St. Tammany also qualify for membership.

Employees of more than 600 SEGs are also eligible to join.

Immediate family members (parent, grandparent, sibling, child) of current members and membership-eligible individuals are welcome to apply.

Joining OnPath and/or opening a CD can be done online. The lobbies of all the Louisiana branches are temporarily closed and in-branch appointments have also been suspended. The drive-ups at seven branches are currently open during regular business hours. OnPath’s COVID-19 Update page lists the status of all branch locations.

Opening a Primary Share Account with a minimum $5 deposit is required to establish a membership.

OnPath participates in the CO-OP Shared Branch network and the Dolphin ATM Network.

Credit Union Overview

OnPath Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 6.13% (excellent) based on December 31, 2019 data. In the past year, OnPath has increased its total non-brokered deposits by $3.64 million, an above average annual growth rate of 1.26%. Please refer to our financial overview of OnPath Federal Credit Union (NCUA Charter # 14692) for more details.

Established in 1961 as the ASI Federal Credit Union (ASI), the original FOM included the blue-collar workers of Avondale Shipyards, Inc. The OnPath Federal Credit Union rebrand occurred in 2019. Currently the ninth largest credit union in Louisiana, OnPath has nearly 61,000 members and assets in excess of $350 million.

How the CDs Compare

When compared to 202 similar length-of-term CDs tracked by DepositAccounts.com, that require a similar minimum deposit and are available within the FOM, OnPath Federal Credit Union's 48-month CD APY* currently ranks first.

When compared to 219 similar length-of-term CDs tracked by DepositAccounts.com, that require a similar minimum deposit and are available within the FOM, OnPath Federal Credit Union's 60-month CD APY* currently ranks first.

These rates are accurate as of 5/1/2020.

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

*We are continuing to keep our rates up-to-date, but are just too many rate cuts for us to process the changes quickly. For the time being, please be aware that the rates listed at DepositAccounts may not reflect the latest rates published by the banks and credit unions.

Related Pages: New Orleans CD rates, 5-year CD rates

Comments
watcher
  |     |   Comment #1
This is a nice increase and good evidence of a firm rate bottom. Five years is too long in this environment with so much more money floating around and so much pending demand. 3% for 3 years sounds about right.
Wet Boat
  |     |   Comment #2
Agreed. My calculations show a fair rate is a few points under 3% for 3 years.
Duck
  |     |   Comment #3
What are you talking about IDK what you see I see
5/1/2020: Rates were dropped this morning - 48-month CD (1.35% APY), 60-month CD (1.45% APY).
Rate Plunge
  |     |   Comment #4
Probably plunged at the turn of the calendar overnight.
gregk
  |     |   Comment #5
Why would DA even headline a 1.45% 5 year CD (or 1.35% 4 year)?

Is this now among the rate leaders?
Predatory Depositor
  |     |   Comment #6
Because it was 2.25% 4 year and 2.50% 5 year when the blog was posted and dropped after it was posted.
Jim
  |     |   Comment #7
It is called bait and switch, most CUs and banks do that. By the time you fund the account, no longer exists. I wonder how many persons fell for it.
ASI FCU (LA) Offers Competitive Long-Term CDs
Deal Summary: 48-month CD (2.27% APY), 60-month CD (2.53% APY), $1k minimum.

Availability: Residents of the Louisiana municipalities of Avondale, Bridge City, Gretna, Harvey, Marrero, South Kenner, Waggaman, and Westwego, and the Parishes of Lafourche, Orleans, and St. Tammany; Employees of 600+ SEGs.

ASI Federal Credit Union (ASI) is currently offering competitive rates on two of its long-term CDs: 48-month CD (2.27% APY) and 60-month CD (2.53% APY). The minimum deposit is $1k, with no stated balance cap.

The CDs are also available as IRAs (Traditional,...

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