Premier Credit Union (Premier CU) recently withdrew its long-running 14-month Certificate Special, but added a new 20-month Certificate Special (2.00% APY) a few days ago. The minimum opening deposit is $10k, with no balance cap.
As stated in Premier CU’s Truth In Savings document, the Early Withdrawal Penalty reads as follows:
For Investor, Premier, Special and Referral certificate accounts,
the amount of early withdrawal penalty for your account is 90 days' interest.
High Yield Checking
Premier CU’s High Yield Checking account earns 3.00% APY on qualifying balances up to $10k; qualifying balances above $10k and non-qualifying balances both earn 0.10% APY.
High Yield Checking Qualifying Requirements
- Have at least 25 signature-based debit card purchases.
- Have at least one Direct Deposit.
- Be enrolled in eStatement.
- Sign into Online Banking at least once
Headquartered in Des Moines, Premier Credit Union’s field of membership is residency based, with individuals who live or work in the Iowa counties of Boone, Dallas, Jasper, Madison, Marion, Polk, Story, or Warren eligible for membership.
Opening the 20-month Special Certificate can be initiated using the online application, but an in-person visit to any branche location is required to complete the process.
(Note: as of today, the 20-month Special Certificate is not listed on the online application. CSR indicated that IT was in the process of updating the online application.)
Credit Union Overview
Premier Credit Union (NCUA Charter # 64271) has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 5.11% (excellent) based on March 31, 2016 data. In the past year, Premier CU has increased its total deposits by $13.17 million, an excellent annual growth rate of 11.25%. Please refer to our financial overview of Premier Credit Union 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, and the credit union subsequently became Principal Financial Group Employees Credit Union. The Credit Union's 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 14th largest credit union, with more than 15,600 members and assets in excess of $154 million.
How the CD Compares
When compared to the 170 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available to residents in the Des Moines-Ames metro area, Premier Credit Union's 20-month Certificate Special ranks first.
The above rates are accurate as of 6/9/2016.