It's time to RALLY!
NavyArmy is changing its name to Rally Credit Union.
It’s been more than a year since I last wrote about NavyArmy Community Credit Union and a lot has changed for the Texas credit union, including a new name and a new website. The newly-rebranded Rally Credit Union (Rally) has added a new 15-month CD to the product line. Offering a competitive 5.00% APY, the 15-month CD can be opened with $1k minimum deposit, with no stated balance cap. While several of the Rally CDs are also offered as Jumbo CDs ($100k minimum) with substantially higher rates, the 15-month CD is not available as a Jumbo CD.
The 15-month CD is also offered as an IRA CD (Traditional, Roth, CESA), earning the same APY with the same deposit requirement.
As stated the Member Account Agreement brochure (page 28), the Early Withdrawal Penalty (EWP) reads as follows:
The penalty we may impose will equal 180 days interest whether earned or not.
In other words, the principal balance may be reduced if not enough dividends have been earned (i.e., within six months of account opening).
Headquartered in Corpus Christi, Texas, Rally Credit Union’s field of membership (FOM) has remained unchanged from the NavyArmy Community Credit Union FOM: individuals who live, work, worship, or attend school in the South Texas counties of Aransas, Bee, Cameron, Hidalgo, Jim Wells, Kleberg, Nueces, or San Patricio, are eligible for membership.
Joining Rally can be done online (there is an “Open Account” button at the top of each page of Rally’s website) or at any of the 18 full-service Texas branches, located in Aransas, Beeville, Brownsville, Corpus Christi (7), Edinburg, Kingsville, McAllen (2), Mission, Portland, Rockport, and Weslaco.
Opening and maintaining a Basic Savings account with a minimum $25 balance is required to become and remain a Rally CU member in good standing.
CDs cannot be opened online. A CD can be opened at any of the above-mentioned branch locations, or over the phone (800-622-3631) once a membership application has been approved. Existing members can open a CD in-branch or over the phone (800-622-3631).
Rally members can perform transactions at over 5,000 Shared Branch locations, including deposits, loan payments, loan advances, and much more, all without incurring any service fees.
Funding and Other Details
The following information is from a conversation with CSR.
- Funding – ACH, wire ($25 fee), or check (if opening in-branch).
- CO-OP Shared Branch Participant – Yes.
- Dividends – Compounded/credited monthly. Dividends can be withdrawn by check or transferred to a Rally Basic Savings account.
- Maturing Funds – ACH, wire ($25 fee), cashier’s check, or internal transfer to a Rally Basic Savings account.
- Beneficiaries – Unlimited, percentages can be assigned, Social Security numbers are required.
- Grace Period –7 calendar days before automatic renewal.
- Credit Check – Soft pull.
Credit Union Overview
Rally Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 4.27% (excellent) based on September 30, 2022 data. In the past year, Rally has increased its total non-brokered deposits by $119.15 million, an excellent annual growth rate of 3.35%. Please refer to our financial overview of Rally Credit Union (NCUA Charter # 68615) for more details.
A lot can change in nearly 70 years. We started out in 1955 as Naval Employees Corpus Christi Federal Credit Union (NECCFCU)—a name that said exactly who we served: the civil service employees of the Naval Air Station Corpus Christi, Texas.
Now, it’s time for a name that clearly states who we serve today. One that speaks to the way we welcome everyone who lives, works, worships or goes to school in our communities—making up our 200,000+ military and non-military members.
Following a couple of name changes, the NavyArmy Community Credit Union name was adopted in 2011, following the change to a state charter that allowed expansion into two additional Rio Grande Valley counties. Rally Credit Union is currently the fifth largest credit union headquartered in Texas (and the 91st largest in the country), with more than 217,000 members and assets in excess of $4.2 billion.
How the 15-Month CD Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com which are available within the FOM and have minimum deposit requirements of $10k or less, no bank or credit union has a higher rate than currently offered on the Rally Credit Union 15-month CD. The following table compares the 15-month CD to the two highest-rate CDs from other credit unions and to the two highest-rate CDs from banks.
The above information and rates are accurate as of 2/9/2023.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.