Pelican State Credit Union (LA/AR/MS/TX) Ups All CD Rates

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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.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.71%$500-Pelican State Credit Union60 Month CD
3.61%$500-Pelican State Credit Union48 Month CD
3.51%$500-Pelican State Credit Union36 Month CD
3.20%$500-Pelican State Credit Union24 Month CD
2.89%$500-Pelican State Credit Union12 Month CD
Rates as of November 13, 2018.

Today’s rate increases of between 46 and 98 bps give all the Share Certificates their highest APYs since 2009. The minimum opening deposit is $500, with no stated balance cap.

Note: While Jumbo Share Certificates (minimum $10k deposit) are listed separately on the Credit Union’s website, the APYs for the Jumbo Share Certificates are the same as for the regular Share Certificates.

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

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.71%$1k-Pelican State Credit Union60 Month IRA (Traditional, Roth, CESA)
3.61%$1k-Pelican State Credit Union48 Month IRA (Traditional, Roth, CESA)
3.51%$1k-Pelican State Credit Union36 Month IRA (Traditional, Roth, CESA)
3.20%$1k-Pelican State Credit Union24 Month IRA (Traditional, Roth, CESA)
2.89%$1k-Pelican State Credit Union12 Month IRA (Traditional, Roth, CESA)
Rates as of November 13, 2018.

Pelican State CU’s Truth-in-Savings document is not available on their website, but a very helpful CSR sent me a copy, which 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 a year 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 are eligible for membership.

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

Joining Pelican State CU and/or opening a Share Certificate can be done online, or at any of 15 full-service Louisiana branches located in Alexandria, Baton Rouge (2), Denham Springs, Jackson, Lafayette, Lake Charles, Monroe (2), Opelousas (2), Pineville, Prairieville, Shreveport, and Zachary.

Credit Union Overview

Pelican State Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 7.12% (excellent) based on June 30, 2018 data. In the past year, Pelican State CU has increased its total non-brokered deposits by $26.29 million, an excellent annual growth rate of 9.57%. Please refer to our financial overview of Pelican State Credit Union (NCUA Charter # 62710) for more details.

Pelican State Credit Union was founded in 1956 as the Department of Hospitals Credit Union, with a membership comprised of employees of Louisiana charity hospitals, mental health centers, and state office personnel. Pelican State CU 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 eighth largest credit union, with more than 51,600 members and assets in excess of $348 million.

How the Share Certificates Compare

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, all of Pelican State Credit Union's Share Certificate APYs currently rank first.

Interest RateCD Length of TermCredit Union/Bank
2.89% APY12-Month Share CertificatePelican State Credit Union
2.75% APY12-Month CDBanesco USA
2.74% APY12-Month Online CD SpecialNASB

Interest RateCD Length of TermCredit Union/Bank
3.20% APY24-Month Share CertificatePelican State Credit Union
3.10% APY2-Year CDKS StateBank
3.00% APY23-Month Online CDConnectOne Bank

Interest RateCD Length of TermCredit Union/Bank
3.51% APY36-Month Share CertificatePelican State Credit Union
3.35% APY3-Year Term DepositMountain America Credit Union
3.33% APY33-Month CD SpecialGreat Lakes Credit Union

Interest RateCD Length of TermCredit Union/Bank
3.61% APY48-Month Share CertificatePelican State Credit Union
3.35% APY4-Year CDKS StateBank
3.25% APY45-Month CD SpecialConsumer Credit Union (IL)

Interest RateCD Length of TermCredit Union/Bank
3.71% APY60-Month Share CertificatePelican State Credit Union
2.51% APY60-Month Share Certificate United States Senate Federal Credit Union
3.50% APY5-Year CertificateGeorgie Banking Company

The above rates are accurate as of 10/25/2018.

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

Related Pages: Shreveport CD rates, Monroe CD rates, Lafayette CD rates, Lake Charles CD rates, Alexandria CD rates, Baton Rouge CD rates, 1-year CD rates, 5-year CD rates

Comments
ben
ben   |     |   Comment #1
Winner, winner,chicken dinner.
Carpline
Carpline   |     |   Comment #2
Winner, winner, pelican dinner? ;-)
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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