Rocky Mountain Credit Union (RMCU) recently raised the rates on its long-term Share Certificates, with the 60-month (3.50% APY) being the most competitive. Any RMCU Share Certificate can be opened with a minimum $1k opening deposit, with no stated balance cap.
All Share Certificates are offered as IRAs (Traditional, Roth, SEP, CESA), earning the same APY, but requiring a $2k minimum deposit.
What really makes these Share Certificates/IRAs noteworthy is the ability to make unlimited additional deposits throughout the term. Let me say that again – unlimited additional deposits at any time during the entire term.
As stated in the Truth-in-Savings Disclosure, the Early Withdrawal Penalty reads as follows:
Terms of 36 to 47 months - 360 days’ dividends
Terms of 48 to 59 months - 540 days’ dividends
Terms of 60 months - 720 days’ dividends
Headquartered in Helena, Rocky Mountain Credit Union’s field of membership (FOM) is primarily residency based, with individuals who live, work, or worship in the Montana counties of Broadwater, Deer Lodge, Gallatin, Jefferson, Lewis and Clark, Park, Powell, and Silver Bow eligible for membership.
Montana State University alumni and State of Montana employees also qualify for membership, as do the employees of more than 50 SEGs.
Family members of current RMCU members are welcome to apply for membership.
Credit Union Overview
Rocky Mountain Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 1.95% (excellent) based on March 30, 2018 data. In the past year, RMCU has increased its total non-brokered deposits by $7.82 million, an excellent annual growth rate of 3.96%. Please refer to our financial overview of Rocky Mountain Credit Union (NCUA Charter # 63261) for more details.
Originally chartered as the State Capital Employees Credit Union (SCECU) in 1940, Rocky Mountain Credit began like almost all credit unions: a small number of founding members (47 State of Montana employees) with a limited FOM (State of Montana employees residing in Lewis and Clark County). My next line would normally be something like, “over the next several years, the membership grew,” but that’s not what happened.
Shortly after World War II, the credit union was recessed.
SCECU was quietly put aside until January 1956, when it “was recognized by a number of the charter members and other state employees." It wasn’t until 1999 that the FOM was expanded to include everyone who lived or worked in Lewis and Clark County and Gallatin County. The new FOM prompted the search for a new name, and the Rocky Mountain Credit Union rebrand occurred in October 1999. Following mergers with three other Montana credit unions, RMCU has become Montana’s fifth largest credit union, with more than 21,000 members and assets in excess of $242 million.
How the Share Certificate Compares
When compared to the 187 similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, Rocky Mountain Credit Union’s 60-Month Share Certificate APY currently ranks first.
The above rates are accurate as of 8/8/2018.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.