Pelican State Credit Union 60-Month CD Earns 3.20% APY

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Deal Summary: Share Certificates – 48-month (3.10% APY) and 60-month (3.20% APY), $500 minimum deposit.

Availability: Easy membership requirement for residents of Louisiana, Arkansas, Mississippi, and Texas; residents of Rapides Parish or St. Landry Parish, Louisiana; employees and retirees of several SEGs.

Although the rates on Pelican State Credit Union’s (Pelican) 48- and 60-month Share Certificates fell a few months ago from all-time highs, both are still offering very competitive rates. The minimum opening deposit is $500, with no stated balance cap. While Jumbo Share Certificates (minimum $10k deposit) are listed separately on Pelican’s website, the APYs for the Jumbo Share Certificates are the same as for the regular Share Certificates.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.20%$500-Pelican State Credit Union60 Month CD
3.20%$1k-Pelican State Credit Union60 Month IRA (Traditional, Roth, CESA)
3.10%$500-Pelican State Credit Union48 Month CD
3.10%$1k-Pelican State Credit Union48 Month IRA (Traditional, Roth, CESA)
Rates as of September 15, 2019.

Pelican’s Share Certificates are available as IRAs (Traditional, Roth, CESA), earning the same APYs with the same funding requirements. Just like the Jumbo Share Certificates, Jumbo IRAs earn the same APY as the regular IRAs.

The Truth-in-Savings document is not available on the Credit Union's website, but a very helpful CSR sent me a copy that includes the following Early Withdrawal Penalty:

For all accounts, the amount of early withdrawal penalty is based on the term of your account. The penalty schedule is as follows:

    1 year or less, 90 days' dividends
    13 to 36 months, 180 days' dividends
    37 months or longer, 270 days' dividends

Availability

Headquartered in Baton Rouge, Pelican State Credit Union expanded its field of membership (FOM) more than two years ago to include a limited-area easy membership requirement.

Easy Membership: Residents of Louisiana, Arkansas, Mississippi, and Texas can qualify for membership by joining one of three associations (Families & Friends Association-North Lake Supports & Services, ARC of Baton Rouge, or Parents Association of Northwest Supports & Services).

Residency: Individuals who live in either Rapides Parish or St. Landry Parish (Louisiana) are eligible to join.

Employment: Employees and retirees of several SEGs (listed on the online application) are eligible for membership.

Relationship: Immediate family members of current Pelican members are also welcome to apply.

Joining Pelican and/or opening a Share Certificate can be done online, or at any of 17 full-service Louisiana branches located in Alexandria, Baton Rouge (2), Denham Springs, Hammond, Jackson, Lafayette, Lake Charles, Monroe (2), Opelousas (3), Pineville, Prairieville, Shreveport, and Zachary.

A Primary Shares account establishes full membership in Pelican State Credit Union.

$10 minimum opening deposit ($5 membership fee + $5 minimum account balance)

In addition to branch locations across Louisiana, Pelican participates in the CO-OP Shared Branch network.

No matter where Pelican members travel, you can access your account at over 5,000 credit union branches and over 2,000 self-service locations nationwide!

Credit Union Overview

Pelican State Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 8.28% (excellent) based on March 31, 2019 data. In the past year, Pelican has increased its total non-brokered deposits by $32.77 million, an excellent annual growth rate of 10.97%. Please refer to our financial overview of Pelican State Credit Union (NCUA Charter # 62710) for more details.

Founded in 1956 as the Department of Hospitals Credit Union, Pelican’s original FOM was comprised of employees of Louisiana charity hospitals, mental health centers, and state office personnel. Pelican State Credit Union name was adopted in 1988 to better reflect the expanding FOM, which included mergers with Lake Charles TELCO Credit Union, Pinekraft Federal Credit Union, Kaiser Federal Credit Union, Chalmette Refinery Credit Union, and Louisiana Farm Bureau Credit Union. Pelican State CU is currently Louisiana’s seventh largest credit union, with more than 53,700 members and assets in excess of $403 million.

How the Share Certificates Compare

Given the multi-state FOM, I’ve chosen to compare the Pelican’s Share Certificates to nationally available CDs.

When compared to similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationwide, Pelican State Credit Union's 48-month Share Certificate APY currently shares the top spot with Hanscom Federal Credit Union’s 48-month CD APY.

When compared to similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationwide, Pelican State Credit Union's 60-month Share Certificate APY currently ranks first.

The above rates are accurate as of 7/24/2019.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table.

Related Pages: Shreveport CD rates, New Orleans CD rates, Monroe CD rates, Lafayette CD rates, Lake Charles CD rates, Alexandria CD rates, Baton Rouge CD rates, 5-year CD rates

Comments
Pelican State Credit Union (LA/AR/MS/TX) Ups All CD Rates
Deal Summary: Share Certificates – 12-month (2.89% APY), 24-month (3.20% APY), 36-month (3.51% APY), 48-month (3.61% APY) and 60-month (3.71% APY), $500 minimum deposit.

Availability: Easy membership requirement for residents of Louisiana, Arkansas, Mississippi, and Texas; Residents of Rapides Parish or St. Landry Parish, Louisiana; Employees and retirees of several SEGs.

Trick or treat! Guess which category these Pelican State Credit Union (Pelican State CU) Share Certificates fall into.

Today’s rate increases of between 46 and 98 bps give all the Share Certificates their highest APYs...

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Pelican State Credit Union (LA/AR/TX/MS) Ups Long-Term CD Rates
Deal Summary: 48-month Share Certificate (2.51% APY) and 60-month Share Certificate (2.71% APY), $500 minimum deposit.

Availability: Easy membership requirement for residents of Louisiana, Arkansas, Mississippi, and Texas; Residents of Rapides Parish, Louisiana; Employees and retirees of several SEGs.

Yesterday, Pelican State Credit Union (Pelican State CU) added 10 bps to its 48-month Share Certificate (2.51% APY) and 60-month Share Certificate (2.71% APY). The minimum opening deposit for either Share Certificate is $500, with no stated balance cap.

Note: While Jumbo Share Certificates (minimum $10k deposit) are...

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Pelican State CU (LA/AR/TX/MS) Boost Rates On Long-Term CDs
Deal Summary: 48-month Share Certificate (2.41% APY) and 60-month Share Certificate (2.61% APY), $500 minimum deposit.

Availability: Easy membership requirement for residents of Louisiana, Arkansas, Mississippi, and Texas; Residents of Rapides Parish, Louisiana; Employees and retirees of several SEGs

Yesterday, Pelican State Credit Union (Pelican State CU) raised the rate on its 48-month Share Certificate (2.41% APY) and 60-month Share Certificate (2.61% APY). The minimum opening deposit for either Share Certificate is $500, with no stated balance cap.

Note: While Pelican State CU has separate Jumbo Share...

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Pelican State CU (LA) Offers Top-Rate Long-Term CDs
Availability: Residents of Rapides Parish, LA; Employees and retirees of several SEGs

Earlier this month, Pelican State Credit Union (Pelican State CU) raised the rate on its 48-month Share Certificate (2.19% APY) and added a new 60-month Share Certificate (2.38% APY). The minimum opening deposit for either Share Certificate is $500, with no balance cap.

Note: While Pelican State CU has separate Jumbo Share Certificates listed on its website for deposits of $10K+, the APYs for the 48-month and 60-month Jumbo Share Certificates are the...

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High-Yield Reward Checking Account at a Louisiana CU (Pelican State)

Update 2/14/11: The top rate has fallen to 4.01% APY for balances up to $20K

Pelican State Credit Union is offering a reward checking account called e-Xtra Bonus Share Draft. It pays 4.01% APY on balances up to $20,000 and refunds ATM fees of up to $12 per cycle if the following monthly requirements are met:

  • 15 debit card purchases (must total $300 effective Aug 1, 2011)
  • one direct deposit or payroll deduction
  • receive electronic statements
  • access your account online

If all of these are not met, the rate falls to 0.50%. The 0.50% rate still...



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