In January 2013, I wrote about Security First Credit Union's (Texas) competitive CD and IRA rates. Security First Credit Union is continuing to offer attractive products with a 9-month CD Special (1.16% APY) and a 2-Year CD (1.36% APY up to $50K and 1.39% APY over $50K). The 2-Year CD is also available as an IRA, with the same earnings rate. Both CDs require a minimum $1k deposit to open and have no maximum cap.
Security First Credit Union offers membership to those who live, work, worship, or go to school in the Texas Rio Grande Valley. While opening any CD requires a visit to any of the 15 branches in 9 cities, (covering an area from Brownsville to Palmview), membership requests can be submitted on-line. An in-person signature at any Security First Credit Union location and a one-time $5 membership deposit completes the enrollment process.
Security First Credit Union has a B rating on DA and a Texas Ratio of 15.39% (above average) as of March 31, 2014. In the past year, Security First Credit Union has increased its total deposits by $7.98 Million, an above average growth rate of 2.33%. For more details, please refer to our financial overview of Security First Credit Union.
Founded in 1947 as the Hildago Federal Credit Union (NCUA Charter #5547), its mission was to serve the employees of the Federal Goverment who resided in the Rio Grande Valley; it remained that way for 29 years. In the following decades with assets increasing and loan demand growing, membership was expanded to include State Employees in Hildago and Starr Counties. In 2000, after an expansion into Cameron County and the acquisition of two other credit unions, Hildago Federal Credit Union became Service First Credit Union. Today, Security First Credit Union's membership is over 55,000, with assets worth $381 Million.
How the Rate Compares
Security First Credit Union's 9-month CD Special (1.16% APY) tops the list of like-products tracked by DA and compares very favorably to 1-Year CDs. While the 2-Year CD rates (1.36% APY $50K and 1.39% APY $50K+) are not spectacular, when compared to like-products at other credit unions tracked by DA, it ranks in the top 25.
The above rates are accurate as of 7/25/2014.
To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.