Panhandle Credit Union (FL) Adds Rate-Leading 7-Month CD Special


Deal Summary: 7-month CD Special, 6.00% APY, $1k minimum/$50k maximum opening deposit, limit of one per membership.

Availability: Seven Florida Panhandle counties.

For a limited time, Panhandle Credit Union (Panhandle CU) is offering a “Five, Six, Seven CD.” Earning 6.00% APY, the 7-month CD Special can be opened with a $1k minimum deposit and is capped at $50k. While there is no end-date specified, the fine print on the landing page states, “subject to change at any time without notice.”

The 7-month CD Special is also available as an IRA CD Special (Traditional, Roth, CESA), earning the same APY with the same deposit requirements.

Early Withdrawal Penalty

As stated in the Truth-in-Savings disclosure (page 19), the Early Withdrawal Penalty (EWP) reads as follows:

Terms of 12 months or less – 90 days’ dividends.

Partial withdrawals are allowed, but if the account has not yet earned enough dividends or if the dividends have already been paid, the penalty will be deducted from the principal.


Headquartered in Panama City, Florida, Panhandle Credit Union’s field of membership (FOM) is community-based, with individuals who live, work, worship, or attend school in the Florida Panhandle counties of Bay, Calhoun, Gulf, Holmes, Jackson, Walton, or Washington qualifying for membership.

Immediate family members and household members of a current Panhandle CU member are also eligible to join.

Account Opening

Joining Panhandle CU can be done online or at any of six full-service Florida branches located in Lynn Haven, Panama City (3), Panama City Beach, and Southport. Panhandle CU also has a Business and Mortgage Center in Panama City.

A minimum $5 deposit in a Share Savings Account establishes a Panhandle CU membership.

Opening a 7-month CD Special can be done at any of the above-mentioned branch locations or by phone (850.769.3306).

Funding and Other Details

The following information is from a conversation with a CSR.

  • Funding – ACH, wire, check, internal transfer, or shared branch transaction. Funds should be on deposit in a Share Savings Account before opening a CD.
  • CO-OP Shared Branch Participant – Yes.
  • Ownership – Individual, joint, or trust.
  • Dividends – Compounded daily/credited monthly; earned dividends can be paid out by cashier’s check or transferred to Panhandle CU Share Savings Account.
  • Maturing Funds – Cashier’s check or internal transfer to a Share Savings account.
  • Grace Period – 10 calender days before automatic renewal as 6-month Certificate.
  • Beneficiaries – Unlimited, percentages can be assigned, Social Security numbers are not required.
  • Credit check – ChexSystems.

Credit Union Overview

Panhandle Credit Union has an overall health grade of "A" at, with a Texas Ratio of 1.37% (excellent) based on June 30, 2023 data. In the past year, Panhandle CU’s total non-brokered deposits decreased by -$7.4 million, a below average annual growth rate of -2.7%. Please refer to our financial overview of Panhandle Credit Union (NCUA Charter # 68720) for more details.

Established in 1957, Panhandle Credit Union was originally known as the Panhandle Educators Federal Credit Union, with an FOM exclusive to public school faculty and staff in the Florida Panhandle. The Panhandle Credit Union rebrand occurred in 2021, following the adoption of a community charter. As the 45th largest credit union headquartered in Florida, Panhandle Credit Union currently has more than 15,000 members and assets in excess of $306 million.

How the 7-Month CD Special Compares

When compared to similar length-of-term CDs tracked by that are available within the market area and have minimum deposit requirements of $10k or less, no bank or credit union has a higher rate than currently offered on the Panhandle Credit Union 7-Month CD Special. The following table compares the 7-Month CD Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 10/20/2023.

To search for the best CD rates, both nationwide and state specific, please refer to our CD rates table page.

Related Pages: Panama City CD rates, 1-year CD rates

Previous Comments
  |     |   Comment #1
Just wondering, is/are there ANY 6.00%~ APY with a bank or "easy to join-no limits" CU CD's being offered a year or longer yet that don't have special limits or rules to play by? I've been enjoying my 5% and UP APY CD interest since I started laddering last winter/spring on 4 Jumbos and counting the interest (over $4K+ a month!) since! And still 5% on the liquid $$ at MBoI
  |     |   Comment #2
Only one that I know of : Credit Human.
You just have to join the American Consumer Council.
Your choice of 12 up to 17 months.

See review here: 
  |     |   Comment #3
Ha! the only CU/Bank that ever denied my account application (earlier this year), in my LIFETIME with no explanation and a good CHEX score too, though I had opened at least 3 other CDs in 6 mos time elsewhere :) I tried 3x over 4 weeks with no luck. (gotta love that 5%+ APY - thru 60 mos - ladder!).

Anyway I'm parked at 5% w MBOI and got four 24-60 mos jumbos at $200K-$250K each all at 5%+ as well. One old 60 mo CD at 3% APY matures this upcoming summer but, I peel the interest quarterly and move it to MBoI at 5%..hopefully, I can go 60 mos with those $$ at 5%+ as well come August '24! (more income taxes cuz of interest being paid is a good thing)

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