Premier Credit Union (Premier CU) has given its members something to be thankful for: a 14-month Certificate Special that earns 1.15% APY. The minimum opening deposit is still $10k, with no stated balance cap.
Note: If you look at the drop-down box listed under “Details,” it looks like the 14-month Certificate Special has just experienced a large rate drop. The software DA uses to tracks rates captures the current APY without taking into account any breaks of product availability. In this instance, the 14-month Certificate Special had a 2.30% APY in June 2016, but it hasn’t been part of Premier CU’s product line for more than five years. When it recently became available, the software automatically plugged in the current rate into the already existing 14-month Certificate Special rate history, distorting the continuity of the APYs.
Although six Disclosures are available on Premier CU’s website, the Truth-in-Savings isn’t one of them. According to CSR, the Early Withdrawal Penalty has not changed and reads as follows:
For Investor, Special and Jumbo accounts, the amount of
early withdrawal penalty for your account is 90 days' interest.
Headquartered in Des Moines, Premier Credit Union’s field of membership (FOM) is community-based, with individuals who live or work in any of the following 22 Iowa counties eligible for membership.
Iowa Counties: Adair, Boone, Clarke, Dallas, Greene, Guthrie, Hamilton, Harden, Jasper, Lucas, Madison, Mahaska, Marshall, Marion, Monroe, Polk, Poweshiek, Story, Tama, Union, Warren, and Webster.
Immediate family members of current Premier CU members or individuals eligible for member are also eligible to join. Premier CU defines “immediate family” as spouse, sibling, parent/step-parent, child/step-child, and grandparent.
Joining Premier CU and/or opening a Certificate can be done online or at any of three full-service Iowa branches, located in Ames, Des Moines, and West Des Moines. The Skywalk branch in Des Moines is temporarily closed.
A membership account represents your ownership of the credit union and makes you eligible for all products and services. Minimum $5 deposit to open and maintain your membership benefits.
Premier CU’s members can access more than 13,000 surcharge-free Shazam Network ATMs in 30 states and more than 900 ATMs belonging to Publix’s Presto! Network in Florida, Georgia, Alabama, South Carolina, and Tennessee.
Credit Union Overview
Premier Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.14% (excellent) based on June 30, 2021 data. In the past year, Premier CU has increased its total non-brokered deposits by $30.06 million, an excellent annual growth rate of 14.52%. Please refer to our financial overview of Premier Credit Union (NCUA Charter # 64271) for more details.
Premier Credit Union was originally chartered in 1933 as the Bankers Life Employees Credit Union, with membership restricted to employees and retirees of Bankers Life Company. In 1986, Bankers Life Company changed its name to Principal Financial, with the Credit Union subsequently becoming Principal Financial Group Employees Credit Union. The name changed again in 2001 to the current Premier Credit Union, to better describe its membership base and its core mission of providing "Premier Service and Premier Choices at Premier Credit Union." Premier CU is currently Iowa’s twelfth largest credit union, with more than 19,000 members and assets in excess of $266 million.
How the Certificate Special Compares
When compared to 289 similar length-of-term CDs tracked by DepositAccounts.com, which require a minimum deposit of $10k or less and are available within the FOM, Premier Credit Union's 14-month Certificate Special APY currently ranks first.
The above information and rates are accurate as of 11/24/2021.
To search for the best CD rates, either nationwide or state-specific, please refer to our CD Rates Table page.