Pathways Financial Credit Union Offers Competitive CD Rates in OH & KY
Ohio-based Pathways Financial Credit Union (Pathways) is offering competitive rates on its shorter-term Certificates: 12-month (0.70% APY), 18-month (0.75% APY), 24-month (0.85% APY). The minimum opening deposit is $500, with no stated balance cap.
As stated on the Rates page, the Early Withdrawal Penalty reads as follows:
We will impose a penalty if you withdraw any of the principal funds before the maturity date. For terms to maturity less than 36 months, the penalty imposed will be an amount equal to 180 days’ dividends, and for terms equal to or greater than 36 months, the penalty imposed will be an amount equal to 365 days’ dividends.
Excess Share Insurance
Large deposits at Pathways are protected by Excess Share Insurance.
Accounts insured up to $500,000 through a combination of federal insurance provided by the National Credit Union Administration (NCUA) for $250,000 and private insurance provided by Excess Share Insurance (ESI) for an additional $250,000.
Availability
Headquartered in Columbus, Ohio, Pathways Financial Credit Union’s field of membership (FOM) has expanded significantly since I last wrote about them in 2018. Previously limited to seven Central Ohio counties, the current FOM includes an easy membership requirement (American Consumer Council membership) for all residents of Ohio and Kentucky. This is described at the start of the online application.
Individuals who live, work, worship, attend school, or own a business in Ohio counties of Clark, Delaware, Fairfield, Franklin, Greene, Licking, Madison, Miami, Montgomery, Pickaway, or Union, or the city of Maysville (KY) are also eligible to join.
Employees and retirees (and their immediate family members) of more than 400 SEGs qualify for membership.
Immediate family members of current Pathways members are also welcome to apply.
Joining Pathways and/or opening a Certificate can be done online,* by phone (614.416.7588, 800.367.7485), or at any of six Ohio branches located in Columbus (4), Delaware, and Marysville. There are also five Ohio branches in Aberdeen, Beavercreek, Dayton, Engelwood, Dayton that operate as Incenta, A Division of Pathways Financial Credit Union.
*The online application is showing APYs 10 bps lower than the APYs listed on Pathways’ Rates page. CSR confirmed the higher rates are the correct rates and suggested opening a Certificate over the phone would probably be the best option until the online application is updated.
The Share Savings Account is a required account and establishes your membership
with Pathways. The account must be opened with a $5.00 minimum deposit.
Pathways participates in the CO-OP Shared Branch network.
Not close to a Pathways branch?
Access your Pathways account via the Shared Branching Network!In addition to our branches throughout central Ohio area, we also have over 5,000 branches available to you across the United States and in foreign countries.
Credit Union Overview
Pathways Financial Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.11% (excellent) based on December 31, 2021 data. In the past year, Pathways has increased its total non-brokered deposits by $88.93 million, an excellent annual growth rate of 24.19%. Please refer to our financial overview of Pathways Financial Credit Union (NCUA Certificate # 66376) for more details.
Pathways Financial Credit Union was established in 2012 when three Central Ohio credit unions (Members First, Powerco, Western) merged. A year later, WECU joined the Pathways family as the fourth founding member. With a combined 216 years of member service, Members First, Powerco, Western, and WECU also had widely diverse FOMs, leading Pathways to adopt a residency-based FOM. In the past two years, three more mergers were finalized (American Chemical Society Federal Credit Union, Incenta Federal Credit Union, and Standard Register Federal Credit Union), resulting in a statewide FOM. Pathways Financial Credit Union is currently the 15th largest credit union headquartered in Ohio, with nearly 41,000 members and assets in excess of $506 million.
How the Certificates Compare
Given the multi-state FOM, a comparison to nationally available CD is appropriate. When compared to similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationwide, Pathways Financial Credit Union's 12-, 18-, and 24-month Certificate APYs all currently rank second.
The above rates are accurate as of 4/22/2021.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.
