Top CD Rates Continue at San Antonio Federal Credit Union in Texas - Local Only

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2.34*%$1k-San Antonio Federal Credit Union 120 Months CD
2.15*%$1k-San Antonio Federal Credit Union 84 - 119 Months CD
Accounts mentioned in this post. Rates as of July 25, 2016.

San Antonio Federal Credit Union (SACU) continues to offer some of the best long-term CD and IRA CD rates in the nation. It's one of the few institutions that still offer CD rates over 3%. Below is a summary of its best long-term CD and IRA CD rates as listed at the credit union's rates page as of 6/26/2012:

  • 3.55% APY 10-year CD ($90K+), 3.51% APY 10-year CD ($10K-$90K)
  • 3.05% APY 7-year CD ($90K+), 3.00% APY 7-year CD ($10K-$90K)
  • 2.36% APY 5-year CD ($90K+), 2.30% APY 5-year CD ($10K-$90K)

The early withdrawal penalty is 365 days of interest for terms of 5 years and over. For terms of 3 years to under 5 years, the penalty is 270 days of interest. The 5-year and 3-year penalties are a little above the typical 6-months of interest. However, the 1-year penalty is common for CD terms over 5 years. Please refer to the CD Truth-in-Savings disclosure (pdf) for the full details.

Reward Checking Account

The credit union is still offering a reward checking account which it calls mY generation checking. However, the yield has fallen considerably. The top yield is now only 1.06% APY for balances up to $25K (as of 6/26/2012). This used to have a top yield of 6.01% back in 2007. I have more info on this reward checking account in this 2007 post.

Membership

Many people, but not all, who live in San Antonio and Houston are eligible to join the credit union. Membership is open to students enrolled in a postsecondary educational institutions who live in San Antonio. You can also be eligible via Select Employer Groups in San Antonio and in Houston and via family. People who live in Houston and are members of a parish in the Archdiocese of Galveston/Houston are also eligible. Please refer to their membership application page for more details. Membership requires a minimum $5 deposit into the share savings account.

SACU Overview

Branches are located in both Houston and San Antonio. Most branches are located in San Antonio. The credit union is a member of the CU Service Center which gives credit union members access to shared branches across the nation.

It's a large credit union with $2.96 billion in assets. The credit union has an overall health score at DepositAccounts.com of 3 stars (out of 5) with a Texas Ratio of 22.37% (average) based on March 2012 data. Please refer to our financial overview of San Antonio Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 24382).

How the CD Rates Compare

These SACU CD rates are much higher than what you can get from CDs that are nationally available. The best CD rate for terms of 7 years or longer is 2.50% APY at Patelco Credit Union. This has a 7-year term. The best 5-year CD rate is 2.20% APY at Justice Federal Credit Union for a $100K minimum deposit. These rates are accurate as of 6/26/2012.

Searching for the Best CD and IRA CD Rates

To search for the best nationwide rates and the best rates in your state, please refer to the following sections of DepositAccounts.com:

Comments
Anonymous
Anonymous   |     |   Comment #1
Does anyone have any ideas why Texas tends to have higher CD Rates than other states?
Paoli2
Paoli2   |     |   Comment #2
Maybe Texans are buying gold and not CDs and they need the deposits.  I have wondered the same thing in researching where the best CD rates are.  Texas does stand out.
lou
lou   |     |   Comment #6
Too bad she/he is no longer married to you. Maybe you can beg for another chance.
Anonymous
Anonymous   |     |   Comment #7
Could a person join a church and claim "worship" locally and qualify???

(this person lives in another state)

Cant a person "worship" from a distance--afterall, "HE" is everywhere.

thanks

 
Anonymous
Anonymous   |     |   Comment #8
#7  I love your idea!  I wonder if anyone has ever tried it.  After all, why does it matter where we go to worship other than that particular Church takes in the money.  Hmmm.....that gave me an idea about what may be going on. Nah!  Couldn't be.
51hh
51hh   |     |   Comment #9
For the benefit of others, I went ahead and applied for this CU; although I am not too excited about a ten-year CD (way too long, who knows what will happen in ten years:D).

I will report back if there is a potential.
Anonymous
Anonymous   |     |   Comment #11
to 51hh--

did you live

did you work

did you worship

which of these were you?

or did you just apply and hope for the  best?

thanks

 
51hh
51hh   |     |   Comment #12
Hehe, got in (Mass).:D
Anonymous
Anonymous   |     |   Comment #13
51:  How could you even use the Worship rule since your home address had to give you away?  Somebody wasn't paying attention.  Yesterday when I called to see if there were any other ways to join, this guy rep said if we gave donation to United Way or if DP ever was in Naval Reserve.  I called back and another rep said he was wrong that only LOCAL people could join.   I think it all depends upon who is handling your application.  Good for you and I hope they don't figure it out that you are not in San Antonio! 

BTW, if you are able to share how you did it, it would be great to know.  Thanks!
51hh
51hh   |     |   Comment #15
#13: Actually the worship rule is old (i.e., most credit unions are guarded against it now):-)

 
Anonymous
Anonymous   |     |   Comment #17
I called the credit union today.  Rep. said I must live locally to the Credit Union.  No exceptions.
Anonymous
Anonymous   |     |   Comment #18
YOU DONT HAVE TO LIVE NEAR THE CREDIT UNION

YOU DONT EVEN HAVE TO LIVE IN TEXAS

YOU DONT EVEN HAVE TO LIVE IN AMERICA

YOU DONT HAVE TO WORSHIP ANYWHERE

ALL YOU NEED IS--YOUR MOTHER HAS TO BE A MEMBER

GOD BLESS AMERICA, TEXAS, SAN ANTONIO, HOUSTON AND OUR MOTHERS

 

 
Anonymous
Anonymous   |     |   Comment #19
#18  That's not fair!  Any relative can be a member and you could join but if we don't have one who is, we are out the door!  You lucked out!
TheShadow
TheShadow   |     |   Comment #21
I too have a SACU account not living in Texas.  Originally, I reviewed the online application which stated at that time you or a family member must live in San Antonio to qualify for membership.  I did have a family member that lived in San Antonio and would have qualified for membership, but did not want to have an account there as they had enough accounts at other institutions.  I submitted an application based on this information and was rejected.  I submitted another letter to management indicating the contradiction in their application.  They (management)  admitted there was a mistake in their application but after a year, did nothing to fix it.  After a year since being rejected for membership , I applied again and was accepted for membership.  There is a now membership disclaimer on their web site after my incident, but you need to check the application to see if you qualify. 
The Highest CD Rates in the Nation at San Antonio Federal Credit Union in Texas - Local Only

San Antonio Federal Credit Union (SACU) has some very competitive long-term CD and IRA CD rates. The best ones include a 4.09% APY 10-year CD, a 3.80% APY 7-year CD, a 3.00% APY 5-year CD and a 2.20% APY 3-year CD. Minimum deposit is $90,000. The rates are 5 to 10 basis points lower for a $10,000 minimum deposit. These rates are listed in the credit union's rates page as of 3/27/2011.

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