Sandia Laboratory Federal Credit Union’s (SLFCU) 36-month CD has four APYs based on tiered deposit levels, with the $200k level offering a 2.78% APY. The other APYs are 2.68% ($100k+), 2.58% ($50k+), and 2.47% ($1k+). These rates have been in effect for more than six months.
The 36-month CD is also offered as an IRA (Traditional, Roth, CESA), earning APYs a uniform 10 bps higher on the same four deposit levels.
While not as competitive as the 36-month CD/IRA, the 24-35 month CD/IRA is nonetheless still competitive.
According to CSR, the Early Withdrawal Penalty for any CD with a term length between 12 and 48 months is 180 days interest on the amount being withdrawn, with partial withdrawals allowed.
Headquartered in Albuquerque, New Mexico, Sandia Laboratory Federal Credit Union’s field of membership (FOM) is varied, based on employment, residency, and organization membership, with an easy membership requirement for all New Mexico residents.
As stated on the first page of the online application, “Please select how you are eligible for membership at Sandia Laboratory Federal Credit Union from one of the following options:”
”I am a current or retired employee of” one of more than 300 companies. The vast majority of these companies are located in New Mexico (with a handful located in the Livermore (CA) area), including Sandia National Laboratories.
”I am a family member or household member of an SLFCU member.” Family members include spouse, parent, sibling, grandparent, child, and grandchild.
”I am living, working, worshipping, volunteering, or attending school in Valencia County; a member of the Central NM Electrical Co-op; or a member of the Entranosa Water Association.”
”I am a resident of New Mexico and would like to establishing eligibility through the National Museum of Nuclear Science and History (NMNSH), or the Albuquerque International Association (AIA).” Individual membership fees are $40 for NMNSH and $50 for AIA.
Joining SLFCU and/or opening a CD or IRA CD can be done online, or at any of nine New Mexico branches located in Albuquerque (6), Edgewood, Los Lunas, and Rio Rancho. There are also two branches located in Livermore, California.
Simply complete the easy, fast online application. Once we've approved your application, we'll send you account forms to review and sign electronically within one to two business days.
Establishing a membership begins when you,
Open a savings account with as little as $5. Minimum deposit of $100 earns lowest tier rate.
SLFCU participates in both the CO-OP Shared Branching and ATM networks and provides an ATM and Share Branch locator.
Credit Union Overview
Sandia Laboratory Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.11% (excellent) based on September 30, 2019 data. In the past year, SLFCU has increased its total non-brokered deposits by $20.2 million, an above average annual growth rate of 0.9%. Please refer to our financial overview of Sandia Laboratory Federal Credit Union (NCUA Charter # 5851) for more details.
Established in 1948 by 15 Sandia National Laboratories employees, Sandia Laboratories Federal Credit Union is the largest credit union in New Mexico, with more than 107,000 members and assets in excess of $2.6 billion. In November, SLFCU awarded $20 million to its members as a special dividend (approximately $186 per member). According to an article in Credit Union Times,
Sandia Laboratory FCU’s website provides a frank, business-savvy explanation under a frequently-asked-questions section for why it pays a special dividend, and “not just increase the percentage paid on deposit accounts on an ongoing basis.”
“SLFCU already pays a very competitive, above-market average rate on deposit accounts,” it says. “Increasing the rate paid on deposits on a daily basis could attract significantly more in deposits than we can put to use in the form of loans.
“Because we’ve had several strong years financially and reserves have been built up, we’re able to take some of those reserves and pay them back to our loyal members.”
How the CD Compares
When compared to 246 similar length-of-term CDs tracked by DepositAccounts.com that are available to New Mexico residents, Sandia Laboratory Federal Credit Union's 36-Month CD APY currently ranks first, regardless of minimum deposit requirements.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|2.78% APY||36-Month CD ($200k min)||Sandia Laboratory Federal Credit Union|
|2.70% APY||36-Month Bump Rate CD ($1k min)||Nusenda Credit Union|
|2.60% APY||36-Month Share Certificate ($500 min)||Sandia Area Federal Credit Union|
To look for the best CD rates, either nationwide or state specific, please refer to our CD Rates Table page.
How the IRA Compares
When compared to 175 similar length-of-term IRA Certificates tracked by DepositAccounts.com that are available to New Mexico residents, Sandia Laboratory Federal Credit Union's 36-Month IRA APY currently ranks first, regardless of minimum deposit requirements.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|2.88% APY||36-Month IRA ($200k min)||Sandia Laboratory Federal Credit Union|
|2.78% APY||33-Month IRA ($100k min)||America's Credit Union|
|2.70% APY||36-Month Bump Rate IRA ($1k min)||Nusenda Credit Union|
To look for the best IRA CD rates, either nationwide or state specific, please refer to our IRA Rates Table page.
The above rates are accurate as of 1/9/2020.