Last week, Prairieland Federal Credit Union joined the 3% club, when it raised the rates on its 60-month Share Certificate (3.00% APY) and 60-month Jumbo Share Certificate (3.15% APY). (The other institutions currently offering 3.00% APY on a 5-year CD are Connexus Credit Union and RCB Bank.) The minimum opening deposit for the Share Certificate is $1k and $100k for the Jumbo Certificate.
|3.15%||$100k||-||Prairieland Federal Credit Union||60 Month Jumbo Share CD|
|3.00%||$1k||-||Prairieland Federal Credit Union||60 Month Share CD|
This is the first rate increase since the Share Certificates were added to the product line in September 2017.
According to CSR, the Early Withdrawal Penalty for either Certificate is 360 days.
Headquartered in Normal, Illinois, Prairieland Federal Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, attend school, worship, or volunteer in McLean County eligible to join.
Joining Prairieland FCU and/or opening a Share Certificate can be done by visiting any of the three Illinois branches located in Bloomington and Normal (2). You can also request a membership application be mailed by either calling (877.371.1211) or through e-mail (info@NotYourNormalBank.com).
Prairieland FCU’s online banking platform is currently limited to account management and bill pay services.
Credit Union Overview
Prairieland Federal Credit Union has an overall health grade of "B" at DepositAccounts.com, with a Texas ratio of 9.35% (excellent) based on September 30, 2017 data. Prairieland FCU an excellent annual capitalization level (13.37%), the result of holding $73 million in assets with $9.76 million in equity. Please refer to our financial overview of Prairieland Federal Credit Union (NCUA Charter # 2037) for more details.
Originally established in 1937 as the Oil-O-Matic Credit Union, Prairieland Federal Credit Union has experienced expansion by adding select employee groups, a change to a community charter in 2001, growth via a merger with the Alton Route Credit Union in 2010, and four name changes. The current name, Prairieland Federal Credit Union, was chosen in 2002 because it not only reflects the geographic area, but also reflects Prairieland’s "long history of serving hard-working people helping each other succeed and prosper."
How the Share Certificates Compare
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, Prairieland Federal Credit Union’s 60-Month Jumbo Share Certificate APY currently ranks first, regardless of minimum deposit.
The above rates are accurate as of 1/29/2018.
To look for the best CD rates, both nationwide and in your state, please refer to our CD Rates Table page.