Mobiloil Credit Union (TX) Adds Limited-Time 12-Month CD Special


Deal Summary: 12-Month CD Special, 3.00% APY, $1k minimum deposit

Availability: Eight East Texas counties

Now through September 30, 2022, Mobiloil Credit Union (MOCU) is offering a 12-Month CD Special earning 3.00% APY. There's also a 6-Month CD Special that earns 2.15% APY. The minimum opening deposit is $1k of new money; there is no stated balance cap.

Although the September 30, 2022 end-date is stated on the landing page, the following disclaimer is also listed on the landing page,

Mobiloil Credit Union reserves the right to end the promotion at any time.

As stated in the Truth-in-Savings Disclosure (TIS), the Early Withdrawal Penalty (EWP) reads as follows:

For all accounts, the amount of the early withdrawal penalty is based on the term of your account. The penalty schedule is as follows:

    Terms of 1 year or less 90 days dividends.

According to CSR, partial withdrawals are not allowed: only an early closure is possible, which may eat into the principal.

The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned on the account. It applies whether or not the dividends have been earned. In other words, if the account has not yet earned enough dividends or if the dividend has already been paid, the penalty will be deducted from the principal.

Funding and Maturing Funds

According to CSR, funding a CD with new money can only be done by ACH. MOCU does not participate in the CO-OP Shared Branch network, so transferring funds is not an option.

The only option for distribution of maturing funds is an internal transfer to an MOCU checking or savings account. Earned interest cannot be withdrawn.

There is a ten day grace period before a Certificate automatically renews.

Unlimited beneficiaries can be designated with each receiving equal shares. Full legal names and DOB or Social Security numbers are required for all beneficiaries.


Headquartered in Beaumont, Texas, Mobiloil Credit Union’s field of membership (FOM) is community-based, with U.S. citizens/residents aliens who live, work, or worship in the Texas counties of Chambers, Hardin, Jasper, Jefferson, Liberty, Newton, Orange, or Tyler eligible to join.

Family members of current Mobiloil CU members also qualify for membership. As stated on the online membership application, family members is defined as “spouse, grandparent, parent, stepparent, stepsibling, stepchild, sister, brother, child, grandchild, or member of the household.”

Joining MOCU and/or opening a CD Special can be done online or at any of the 12 full-service Texas branches located in Beaumont (4), Dayton, Jasper, Lumberton, Mont Belvieu, Port Arthur, Silsbee, Vidor, and Woodville.

A $25.00 deposit establishes your lifetime membership to Mobiloil Credit Union. This $25.00 represents one share of ownership in the credit union and must be maintained as long as you are a member of the credit union.

Credit Union Overview

Mobiloil Credit Union has an overall health grade of "A+" at, with a Texas Ratio of 2.66% (excellent) based on March 31, 2022 data. In the past year, Mobiloil CU has increased its total non-brokered deposits by $69.54 million, resulting in an excellent annual growth rate of 9.06%. Please refer to our financial overview of Mobiloil Credit Union (NCUA Charter # 491) for more details.

Founded in 1935, Mobiloil Credit Union was originally known as the Magnolia Employees Beaumont Texas Federal Credit Union, serving the employees of the Magnolia Beaumont Refinery. (Established in 1911, Magnolia Petroleum Company was acquired in 1925 by Standard Oil of New York, the precursor of Mobil Corporation.) MOCU converted to a community charter in 2002 that initially included four East Texas counties. Mobiloil Credit union is currently the 31st largest credit union headquartered in Texas, with nearly 71,000 members and assets in excess of $1 billion.

How the 12-Month CD Special Compares

When compared to similar length-of-term CDs tracked by which are available within the FOM and have minimum deposit requirements of $10k or less, two banks have higher rates than currently offered on the Mobiloil Credit Union 12-month CD Special. The following table compares the 12-month CD Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 8/22/2022.

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, Beaumont CD rates, 1-year CD rates

Top 5-Year CD at Mobiloil Credit Union in East Texas - Local Only

Mobiloil Credit Union has an especially competitive 5-year CD with a 3.30% APY. The other long-term CDs are not quite as competitive: a 2.78% APY 4-year CD and a 2.42% APY 3-year CD. Minimum deposit is $1,000, and these rates are also available in an IRA. These CD rates are listed in the credit union's rate page as of 7/14/2010.

When I first noticed this credit union, I assumed that it would only be available to Mobil employees. It originally serviced employees of the Magnolia Beaumont Refinery which had been part...

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