Although the rates on 12-month CD and Jumbo CD offered by Rio Grande Credit Union (RGCU) were recently lowered (down 10 bps), the current APYs are very competitive. The 12-month Jumbo CD (1.71% APY) requires a minimum $25k opening deposit, while the 12-month CD (1.61% APY) can be opened with a minimum $500 deposit.
Both CDs are also available as IRAs (Traditional, Roth), earning the same APYs with the same deposit requirements.
Dividends compound monthly and can be transferred to an RGCU checking account or paid out by check.
According to CSR, the Early Withdrawal Penalty is 90 days of dividends.
Headquartered in Albuquerque, Rio Grande Credit Union’s field of membership (FOM) is primarily residency-based, with individuals who live, work, worship, attend school, or volunteer in the New Mexico counties of Bernalillo or Sandoval eligible to join.
Employees, volunteers, retirees, and members of more than 80 SEGs are also eligible to join. The SEGs include the City of Albuquerque, Bernalillo County, VA Hospital, ABQ Health Partners, Blue Cross Blue Shield of NM, Lovelace Health System, NM Heart Institute, Presbyterian Health Care Services, Presbyterian Health Plan, and Catholic parishes in Bernalillo and Sandoval Counties.
Joining RGCU and/or opening a CD has to be done in-branch. The lobbies at the six New Mexico branches re-opened on May 18 with some limitations. You can also submit a Contact Me form to start the application process.
Opening a Regular Share Account with a minimum $5 deposit is required to establish an RGCU membership, but a $25 minimum balance is required to earn dividends.
RGCU participates in the CO-OP Shared Branch and ATM network, as well as the CU Anytime ATM network.
Access your RGCU account at over 38 credit union service centers in New Mexico and over 4,300 service centers across the country. Take care of deposits, withdrawals, transfers, loan payments, history prints, and account inquiries at participating service centers as long as you know your account number.
Credit Union Overview
Rio Grande Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.02% (excellent) based on December 31, 2019 data. In the past year, RGCU has increased its total non-brokered deposits by $9.52 million, an excellent annual growth rate of 3.59%. Please refer to our financial overview of Rio Grande Credit Union (NCUA Charter # 62573) for more details.
Established in 1953, Rio Grande Credit Union founding members were employees of the City of Albuquerque. Through organic growth and mergers with three local credit unions, RGCU is currently ninth largest credit union in New Mexico, with nearly 35,000 members and assets in excess of $344 million.
In February, RGCU purchased the naming rights of the Albuquerque Isotopes baseball stadium. The official name is now the Rio Grande Credit Union Field at Isotopes Park. RGCU has also become the official credit union, debit card partner, and credit card partner of the Iostopes. In a February 13, 2020 Credit Union Times article, RGCU President and CEO Mike Athens stated,
We are excited to strengthen our partnership with the Albuquerque Isotopes, one of the family-friendliest organizations around. It makes a statement — to our current and future members — that RGCU is committed to this region and to building family partnerships that make the community a better place to live, thrive and grow.
How the Jumbo CD Compares
When compared to 286 similar length-of-term CDs tracked by DepositAccounts.com, that are available within the FOM, Rio Grande Credit Union's 12-month Jumbo CD APY* currently ranks first, regardless of minimum deposit requirements.
These rates are accurate as of 5/28/2020.
To look for the best CD rates, both nationwide and state-specific, please refer to our CD Rates Table page.
*We continue to work to keep our rates up-to-date, but there have been just too many rate cuts for us to process quickly. For the time being, please be aware that the rates listed at DepositAccounts.com may not reflect the latest rates published by the banks and credit unions.