Seasons Federal Credit Union’s (Seasons FCU) raised the rate on its 14-month Featured Certificate (1.51% APY) earlier this month. The minimum opening deposit is $5k, with no stated balance cap.
The 14-month Featured Certificate has been part of the product line for about 20 months and has experienced ten rate changes in that time. This month’s increase of 50 basis points boosts the APY to its highest level in almost a year.
As stated on Seasons FCU’s Certificate Rates page, the Early Withdrawal Penalty reads as follows:
Terms of longer than 12 months, 180 days dividends.
Headquartered in Middletown, Connecticut, Seasons Federal Credit Union’s field of membership (FOM) includes anyone who lives, works, worships, attends school, or volunteers in Middlesex County or in any of the Connecticut towns of Branford, Cheshire, East Haven, Guilford, Madison, Meriden, North Branford, North Haven, and Wallingford.
Immediate family members who are related by blood or marriage to current members are also eligible to join.
Since I last wrote about Seasons FCU, the Credit Union has added an online application, making the process of joining and/or opening a Certificate easier. If you prefer a brick-and-mortar experience, Seasons FCU has two full-service branches located in Middletown and Meriden. The Dragon’s Vault branch, located in the Middletown High School, is only open to the School’s staff and students.
Credit Union Overview
Seasons Federal Credit Union (NCUA Charter 854) has an overall health grade of "B" at DepositAccounts.com, with a Texas ratio of 16.70% (above average) based on September 30, 2016 data. In the past year, Seasons Federal Credit Union has increased its total deposits by $8.27 million, an excellent annual growth rate of 6.06%. Please refer to our financial overview of Seasons Federal Credit Union for more details.
Seasons Federal Credit Union began in 1935 as the Northern Middlesex School Employees Credit Union, when a group of teachers sought to combine their financial resources for the benefit of all their colleagues. During the 1940s and 1950s, the Credit Union expanded its membership to include schools in shoreline towns and all of Middlesex County; in 1959, the name was changed to Middlesex Schools Federal Credit Union. Following a merger with Meriden Municipal Federal Credit Union, the Credit Union sought a more representative name. A naming campaign began in 2006 and from a list of more than 800 suggestions, "Seasons" was selected. Today, Seasons Federal Credit Union has over 20,000 members and assets in excess of $158 million.
The new name — Seasons — conveys, simply and effectively, how the
credit union strives to serve its members throughout every Season of their lives.
How the Featured Certificate Compares
When compared to the 265 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar deposit and available with the FOM, Seasons Federal Credit Union's 14-Month Featured Certificate currently ranks first.
The above rates are accurate as of 12/14/2016.