Pennsylvania-based Police and Fire Federal Credit Union (PFFCU) raised the rate on its 9-month Certificate (1.15% APY) at the beginning of the month. This recent addition of 25 basis points has resulted in an APY above 1.00% for the first time in nearly seven years. The minimum deposit is $1k, with no stated balance cap.
|1.15%||$500||-||Police and Fire Federal Credit Union||9 Month IRA (Traditional, Roth, CESA)|
|1.15%||$1k||-||Police and Fire Federal Credit Union||9 Month CD|
The 9-month Certificate is also available as an IRA (Traditional, Roth, CESA) earning the same APY, with the same funding requirement.
As stated on PFFCU’s Fee Schedule page, the Early Withdrawal Penalty reads as follows:
9 to 24 months — forfeiture of 180 days dividends.
Headquartered in Philadelphia, Police and Fire Federal Credit Union offers membership to all residents of Pennsylvania, Delaware, and New Jersey through membership in the American Consumer Council.
Employment: As the Credit Union’s name suggests, “Any active or retired Philadelphia police officer or firefighter is eligible” to join. In addition, employees of more than 400 SEGs qualify or membership.
Affiliation: Members of nearly 100 associations and organizations are also eligible to join.
Relationship: Family members (parent, grandparent, child, sibling) of current PFFCU are also membership eligible.
Joining PFFCU and/or opening a CD can be done to any of ten Pennsylvania branches located in Bensalem, Philadelphia (8), and Warminster, or the Washington Township, New Jersey branch.
PPFCU has an online application that starts the process.
Your online application will be reviewed within one business day and upon approval, PFFCU will send a copy of the application to you for your signature. Your initial deposit will be debited from your existing account and credited into your new PFFCU account within 2 to 5 business days.
Credit Union Overview
Police and Fire Federal Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 1.93% (excellent), based on December 31, 2016 data. In the past year, PFFCU increased its total non-brokered deposits by $160.43 million, an excellent annual growth rate of 4.49%. Please refer to our financial overview of Police and Fire Federal Credit Union (NCUA Charter # 2551) for more details.
Chartered in 1938, Police and Fire Federal Credit Union is currently Pennsylvania’s second largest credit union, with more than 253,000 members and assets in excess of $4.5 billion. Following a year of impressive growth, PFFCU has recently expanded its footprint with a new full-service branch in Springfield.
How the CD Compares
When compared to the similar length of term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available within the FOM, Police and Fire Federal Credit Union’s 9-Month CD APY currently ranks second.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|1.20% APY||9-Month Share Certificate||Inspire Federal Credit Union|
|1.15% APY||9-Month CD||Police and Fire Federal Credit Union|
|1.10% APY||6-Month iGOCD||iGObanking|
The above rates are accurate as of 4/13/2017.