Premier America Credit Union Ups 16-Month CD Special, 3.15% APY

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Deal Summary: 16-month Certificate Special, 3.15% APY, $1k minimum deposit

Availability: Easy Membership Requirement

Do you remember Premier America Credit Union’s (Premier America CU) 16-month Fall Certificate Special? In September, the 16-month CD Special earned 3.00% APY. Four months later, the CD Special is still available, but has a new name (New Year Certificate Special) and a new, improved rate of 3.15% APY. This limited-time offering can be opened with a minimum $1k, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.15*%$1k-Premier America Credit Union16 Month CD Special
Rates as of January 21, 2019.

As stated in the Special Certificate Account Disclosure, the Early Withdrawal Penalty reads as follows:

A withdrawal of all or a portion of the principal before the maturity date shall be subject to an early withdrawal penalty of 180 days loss of dividends and may cause the cancellation of the Certificate.

Availability

Headquartered in Chatsworth, California, Premier America Credit Union’s field of membership includes a variety of options that provide a way to join for almost any US resident with a valid Social Security number.

Easy Membership Requirement: Joining the Alliance for the Arts automatically qualifies you for Premier American CU membership. The last option on the online application reads, "None of the above apply. I want to join Thousand Oaks Alliance for the Arts."

California Residency: Individuals who live, work, worship, or attend school in Los Angeles County or Ventura County are eligible to join.

Texas Residency: Individuals who live, work, worship, or attend school within 10 miles of the Westchase branch in Houston also qualify for membership.

Family Relationship: Family members of current Premier America CU members are eligible to join.

Information about membership eligibility is available on the first page of the Credit Union's time-sensitive online application.

Joining Premier America CU and/or opening a CD Special can be done online or at any of 19 California branches located in Burbank (2), Camarillo, Chatsworth, Granada Hills, Oxnard (2), Reseda, Santa Monica, Simi Valley (2), Thousand Oaks, Universal City, Valencia, Venture, Westlake Village (2), and Woodland Hills (2). Premier America CU also has two branches in Houston, Texas.

Current Premier America CU members are able to open a CD Special using the Online Banking platform.

Once logged in, select the "Services & Forms" tab, choose "Open
Additional Account" and follow the steps to open the Certificate.

Credit Union Overview

Premier America Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 6.01% (excellent) based on September 30, 2018 data. In the past year, Premier America CU has increased its total non-brokered deposits by $44.32 million, an above average annual growth rate of 2.04%. Please refer to our financial overview of Premier America Credit Union (NCUA Certificate # 68428) for more details.

Premier America Credit Union was originally established in 1957 as the Litton Employees Federal Credit Union, serving Litton Industries employees throughout Southern California. (Named after inventor Charles Litton, Sr., Litton Industries was a large defense contractor bought by the Northrop Grumman Corporation in 2001.) In 1963, Litton Industries acquired Western Atlas (a Texas oil and gas company), giving the Credit Union a foothold in Texas. Premier America CU was the last out-of-state credit union to expand into Texas, only days before the state’s credit union commission adopted a rule in 1999 prohibiting such expansion. Currently California’s 20th largest credit union, Premier America Credit Union has more than 109,400 members and assets in excess of $2.5 billion.

How the CD Special Compares

When compared to 168 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationwide, Premier America Credit Union's 16-month CD Special APY currently shares the top spot with INOVA Federal Credit Union’s 20-month CD APY.

Interest RateCD Length of TermCredit Union/Bank
3.15% APY16-Month CD SpecialPremier America Credit Union
3.04% APYOnline 19-Month CDMutualOne Bank
3.00% APY18-Month Promo Share CertificateKinecta Federal Credit Union

The above rates are accurate as of 1/18/2018.

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

Related Pages: Houston CD rates, Los Angeles CD rates, 1-year CD rates, nationwide deals

Comments
RichReg
RichReg   |     |   Comment #1
Awesome deal...a tad bit TOO long, but a nice rate.
Premier America, if you're reading, please keep this rate until Feb. 20th.
Thanks!
RJM
RJM   |     |   Comment #2
I am still deciding between this deal and the 2.86% 8 month at Andrews. Already have an account at Andrews. And its limit one.
Probably going to fund that with a check from Ally at a shared branch today. The holiday monday may provide extra interest before the check clears.

I have two Nasa CDs maturing, one sunday and the other on 2/4. The total of those will probably go toward this deal unless something better comes along.
RJM
RJM   |     |   Comment #9
I went ahead with the NASA one for a moderate amount. I am closing two of my 4 Ally No penalties for this deal. The other 2 are paying 2.35%. I am intending to open a 2nd Heritage Bank RCA around the first of the month for $25k. Then I will be looking for a landing place for the. I have a small one maturing Sunday that I can't touch until Tuesday and then a larger one on 2/4.

The Andrews one was limit one.
RJM
RJM   |     |   Comment #12
Pardon, I went with Andrews and it was limit one.
Mike
Mike   |     |   Comment #3
Why no one commenting on Veridian 41 month bump up $100k @ 3.45% ? EWP of 12 months not ideal, but rate good, bump-up feature great, term manageable and not 5 years. If one has $100k ready, seems like one of best deals available. I am ready to pull trigger.....am I missing something?
RichReg
RichReg   |     |   Comment #4
Not everyone wants to tie up their funds for 3 1/2 years.
For me, an additional 30 bps (3.15 vs 3.45) for MORE than double the time-frame
just isn't worth it to me.
Mike
Mike   |     |   Comment #6
Thanks RichReg......I was thinking along the same lines but figured the bump up feature provided the hedge needed if rates rose which helps compensate for longer term. Also, get benefit of higher return immediately which is good and it serves as another interest rate hedge against drop in rates, in which case the longer term CD would also be beneficial. Tough call.....like many others, I have been waiting for the next "no brainer" deal and just getting impatient I guess.
QED
QED   |     |   Comment #5
Mike

Your wish is my command, so I will comment on your Veridian deal:

41 month term certificates of deposit are not industry standard. It would not surprise me if, for the next 41 months, Veridian does not bring to market another 41 month CD.

Bottom line I'm not keen on this Veridian CD deal.
Att
Att   |     |   Comment #10
With the bumpu p they usually have a strange duration just like the Veridian at 41 months so they will not offer a CD at a 41 months with a higher rate
Zemo999
Zemo999   |     |   Comment #7
I spoke with a CSR just now, who didn't seem all that 'with it'. But she said it was really a promo for local branch customers. People who open the 15 mo 3.15% CD online are limited to a maximum of $25k total. She then somewhat contradicted herself by saying that you could send in a paper check, and if they still had the promotion going, you could fund it that way, presumably without a cap limit. I asked about ACH funding, which she didn't seem familiar with, and then told me it takes 5 days to do an ACH. Might call back and ask for a supervisor to verify this.
EDIT - Called again, spoke with a supervisor. Short story is this: You can get around the 25k limit per cd in 2 ways:
Open as many 25k cds as you want. Seems like a nightmare of accounting paperwork to me.
Or - you can open a savings account (which is mandatoryno matter what CD funding you want to do), *wire in* the funds from an outside institution. (The super said there would be no charge for an incoming wire. I believe that might contradict what's on their rate page - altho my memory of that could be wrong.) You would wire it to a savings account you established (with a $5 deposit). And you could fund a CD for whatever amount you wanted, no limit, according to her. The downside: She said this had been available since the weekend, and there is no guarantee that they'll have the promo still open by the time they receive your funds. If the rate changes before you get to open the CD, you're out of luck. She did not say this is new, so it'll probably open for a while. Just that 'tomorrow, the rate could change.'
RJM
RJM   |     |   Comment #8
I posted this before elsewhere. You open the share account, you get your account number and do a shared branch deposit, then you open the CD for whatever amount you want less the $5.

The deal was 3.10% for 15 months and they changed it to 3.15% for 16 months within the last week.
SCC
SCC   |     |   Comment #11
I must've spoken with the same CSR. Very confusing and similar spiel. I funded the savings account with the $5 deposit last week, with the intent of going for the 15 month term (I believe via ACH, but I've had to jump through so many hoops I can't remember). Last Thursday, I just went ahead and Express/Overnighted a personal check to be deposited in the savings account (way over the $25K limit). It was received on Friday and put on hold the following Monday until today (Friday). After the hold was lifted this morning, I was able to fund the 16 month term (the 15 month term vaporizing in the interim) online no problem.

So with a good bit of confusing hassle and a $24.70 overnight mail fee, I was finally able to make this work. Being in the SF Bay area, I couldn't do it locally, and the closest place for a shared branch deposit would've required a 45 minute drive through the mountains to another town.
AnnO
AnnO   |     |   Comment #13
At that high of a price for mailing in a check, a wire transfer probably would have been worth considering.
SCC
SCC   |     |   Comment #14
I had to set it up from scratch and it was taking longer than I was comfortable with for things to clear and verify. I wasn't in the mood to gamble (didn't know when the offer would be over) so went ahead with the check. Turns out I could've done the wire transfer, so yeah. Probably could've just mailed it 1st class as well.
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Availability: Easy Membership Requirement

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