Yesterday, Seasons Federal Credit Union (Seasons FCU) boosted the rates on its 8-month Featured Certificate (1.01% APY) and its 14-month Featured Certificate (1.51% APY). The minimum opening deposit for either Certificate is $5K, with no maximum balance cap.
As stated on Seasons FCU’s Certificate Rates page, the Early Withdrawal Penalty reads as follows:
Terms of 12 months or less, 90 days dividends.
Terms of longer than 12 months, 180 days dividends.
In August, I wrote about Seasons FCU’s 36-month IRA Featured Certificate, which is still available. The tiered APYs for the 36-month IRA are as follows.
- 1.76% APY - $5K+ Minimum Deposit
- 2.02% APY - $25K+ Minimum Deposit
- 2.27% APY - $50K+ Minimum Deposit
- 2.53% APY - $100K+ Minimum Deposit
Headquartered in Middletown, Connecticut, Seasons Federal Credit Union’s membership to open to anyone who lives, works, worships, attends school, or volunteers in Middlesex County and the Connecticut towns of Branford, Cheshire, East Haven, Guilford, Madison, Meriden, North Branford, North Haven, and Wallingford.
Family members who are related by blood or marriage to current members are also eligible to join.
Joining Seasons Federal Credit Union and/or opening a Certificate or IRA Certificate requires a in-person visit to any of three full-service branches located in Middletown, Cromwell, and Meriden. The Dragon’s Vault branch, located in the Middletown High School, is only open to the School’s staff and students.
Currently, Seasons FCU’s online banking platform is limited to account management tools and bill pay services.
Credit Union Overview
Seasons Federal Credit Union has an overall health grade of "B" at DepositAccounts.com, with a Texas ratio of 17.09% (above average) based on June 30, 2015 data. In the past year, Seasons Federal Credit Union has increased its total deposits by $4.01 Million, an excellent annual growth rate of 3.02%. Please refer to our financial overview of Seasons Federal Credit Union for more details.
Seasons Federal Credit Union (NCUA Charter 854) began in 1935 as the Northern Middlesex School Employees Credit Union, when a small 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, and in 1959, changed its name to Middlesex Schools Federal Credit Union. Following further expansion and 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 19,000 members and assets in excess of $154 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 Certificates Compare
When compared to the 183 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar deposit and available to Connecticut residents, Seasons Federal Credit Union's 8-Month Featured Certificate ranks second.
When compared to the 197 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar deposit and available to Connecticut residents, Seasons Federal Credit Union's 12-Month Featured Certificate currently ranks first.
The above rates are accurate as of 9/18/2015.
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.