Rockland Federal Credit Union (MA) 20-Month CD Is Near Rate Leader

POSTED ON BY

Deal Summary: 20-month Share Certificate, 0.70% APY, $500 minimum deposit, $250k maximum deposit per member.

Availability: Residents of the Massachusetts Counties of Barnstable, Bristol, Middlesex, Norfolk, Plymouth, and Suffolk.

Rockland Federal Credit Union’s (RFCU) 20-month Share Certificate currently earns 0.70% APY. The minimum opening deposit is $500, with a $250k maximum deposit per member.

APYMINMAXINSTITUTIONPRODUCTDETAILS
0.70%$500$250kRockland Federal Credit Union20 Month Share Certificate
0.70%$500-Rockland Federal Credit Union20 Month IRA Certificate (Traditional, Roth, CESA)
Rates as of May 24, 2021.

The 20-month Share Certificate is also offered as an IRA Share Certificate (Traditional, Roth, and CESA), earning same APY with the same deposit requirements.

The 20-month Share Certificate made its debut three years ago, earning 2.00% APY. Within two months, the APY was raised to a wow-worthy 2.50%, a rate which lasted until January 2020. Over the next 14 months there were eight rate decreases, with the current 0.70% APY in effect since late March. Compared to 2.50%, 0.70% seems less than mediocre, but in the current rate climate, it’s actually quite competitive.

According to CSR, the Early Withdrawal Penalty for the 20-month Share Certificate is “a loss of six months of interest.”

Massachusetts Share Insurance

In addition to the NCUSIF insurance, RFCU’s deposits are also covered by the Massachusetts Share Insurance Corporation.

MSIC now fully insures excess shares and deposits above the federal insurance limit
of $250,000 at ALL of member credit unions. As a result of the new law, MSIC will now
fully insure excess shares and deposits without limits that exceed NCUSIF coverage.

Availability

Headquartered in Rockland, Massachusetts, Rockland Federal Credit Union’s field of membership (FOM) is residency based, with individuals who live or work in the Massachusetts counties of Barnstable, Bristol, Middlesex, Norfolk, Plymouth, and Suffolk eligible for membership.

Immediate family members of current RFCU members or membership-eligible individuals can join, whether they live or work in one of the qualifying counties or not. Immediate family members are defined in this instance as spouse, parent, child, sibling, grandparent or grandchild.

RFCU’s online application process has improved, but it’s still not completely seamless. While it’s no longer necessary to print out a completed online application and mail a copy to RFCU following online submission, the “online” application is just the initial step.

A Member Service Representative will call within (1) business day to complete the new account opening process and to review next steps with you. Including advanced security questions, branch most likely to frequent and to complete account opening required documentation.

Opening a Share Certificate can be initiated by using the ”online application” or at any of the eight Massachusetts branches located in Hanover, Mansfield, Marshfield, North Attleboro, Plymouth, Rockland, Walpole, and Weymouth. Appointments are available and can be scheduled using RFCU’s website.

A $5 minimum deposit in a Share Savings Account establishes an RFCU membership.

Credit Union Overview

Rockland Federal Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 0.92% (excellent), based on December 31, 2020 data. In the past year, RFCU increased its total non-brokered deposits by $332.83 million, an excellent annual growth rate of 20.61%. Please refer to our financial overview of Rockland Federal Credit Union (NCUA Charter #24224) for more details.

Rockland Federal Credit Union is a relatively young financial institution, having been established in 1985. RFCU has not always traveled an easy road: in 1994, the Credit Union was in conservatorship when a new CEO, Thomas White, was brought on board. White had developed a reputation for saving troubled credit unions, and his mission was to take charge and restore the credit union to health. At its low point, RFCU's assets had shrunk to $189 million; by early 2004, assets had grown to $610 million. RFCU is currently Massachusetts’ third largest credit union, with nearly 188,000 members and assets in excess of $2.2 billion.

How the Share Certificate Compares

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Rockland Federal Credit Union's 20-month Share Certificate APY currently ranks third.

The above information and rates are accurate as of 4/30/2021.

To search for the best CD rates, both nationwide and state-specific, please refer to our CD rates table page.

Related Pages: Boston CD rates, Providence CD rates, 1-year CD rates

Comments
Rockland Federal Credit Union (MA) Offers Competitive 9-Month CD
Deal Summary: 9-month Share Certificate, 2.10% APY, $500 minimum deposit, $250k maximum deposit per member.

Availability: Residents of the Massachusetts Counties of Barnstable, Bristol, Middlesex, Norfolk, Plymouth, and Suffolk.

Rockland Federal Credit Union’s (RFCU) 9-month Share Certificate (2.10% APY) was a “New to Summary” CD in this week’s CD Rates Summary. The minimum opening deposit is $500, with a maximum deposit of $250k per member.

The 9-month Share Certificate was added to the product line in June 2019, earning 2.40% APY. The rate dropped dramatically to 1.50% APY...

Continue Reading
Rockland Federal Credit Union (MA) Boosts 15-Month CD
Deal Summary: 15-month Share Certificate, 3.00% APY, $500 minimum deposit, $250k maximum deposit per member.

Availability: Residents of the Massachusetts counties of Barnstable, Bristol, Middlesex, Norfolk, Plymouth, and Suffolk.

Rockland Federal Credit Union (RFCU) has raised the rate on its 15-month Share Certificate to 3.00% APY. This week’s addition of 100 bps is the fifth rate increase in the past year, with the 15-month Share Certificate gaining a total of 200 bps during that time. The minimum opening deposit is $500, with a $250k maximum deposit per member.

Continue Reading
Rockland FCU (MA) Debuts 20-Month Share Certificate
Deal Summary: 20-month Share Certificate, 2.50% APY, $500 minimum deposit, $250k maximum deposit per member.

Availability: Residents of the Massachusetts Counties of Barnstable, Bristol, Middlesex, Norfolk, Plymouth, and Suffolk.

Rockland Federal Credit Union (RFCU) has added a new 20-month Share Certificate, which earns an attention-grabbing 2.50% APY. The minimum opening deposit is $500, with a $250k maximum deposit per member.

The 20-month Share Certificate is also offered as an IRA (Traditional, Roth, and CESA), earning same APY with the same funding requirements.

According to CSR, the Early Withdrawal Penalty for...

Continue Reading
Rockland Federal Credit Union (MA) Hikes 18-Month CD Rate
Availability: Residents of the Massachusetts Counties of Barnstable, Bristol, Middlesex, Norfolk, Plymouth, and Suffolk.

Rockland Federal Credit Union (RFCU) ended 2016 by raising the rate on its 18-month Share Certificate (1.50% APY) by 40 basis points. The minimum opening deposit is $500, with no stated balance cap.

In the past six years, there have been 15 rate changes for the 18-month Share Certificate, with this week’s increase resulting in the highest APY to date.

The 18-month Share Certificate is also offered as an IRA (Traditional, Roth and CESA), earning...

Continue Reading
Rockland FCU (MA) Boosts 11-Month CD Rate
Availability: Residents of the Massachusetts Counties of Barnstable, Bristol, Middlesex, Norfolk, Plymouth, and Suffolk.

Massachusetts based Rockland Federal Credit Union (RFCU) began the week by raising the rate on its 11-month Share Certificate (1.40% APY). The minimum opening deposit is $500,with no maximum balance cap.

The 11-month Share Certificate is also offered as an IRA (Traditional, Roth and CESA), earning same APY and with the same funding requirements.

I first wrote about this Share Certificate in September 2014, when it was first added to RFCU’s product line. In...

Continue Reading

More Past Offers



The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.