Security Service FCU (TX, CO, UT) Has Competitive 13-month CD

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Availability: Residents of several metropolitan areas in Texas, Colorado, and Utah; Members of select military branches.

Texas based Security Service Federal Credit Union (Security Service FCU) has a 13-month CD that earns 1.25% APY on deposits of $100K+, with no maximum balance cap.

The 13-month CD is also available as an IRA (Traditional, Roth, and CESA) earning the same tiered APYs, with the same funding requirements.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.25*%$100k-Security Service Federal Credit Union13 Month CD
1.25*%$100k-Security Service Federal Credit Union13 Month IRA (Traditional, Roth, CESA)
Accounts mentioned in this post. Rates as of July 26, 2016.

Security Service FCU’s CDs have tiered APYs, based on balance levels, and may also vary by location. The CD Rates page asks for a Zip Code to determine the APY. The APY tiers for the 13-month CD in Texas and Colorado are as follows:

  • 1.10% APY – Balances of $500+
  • 1.15% APY – Balances of $25K+
  • 1.20% APY – Balances of $50K+
  • 1.25% APY – Balances of $100K+

I entered the Zip Codes for the 14 different Utah branch locations and the APYs for Utah appear to be a uniform 15 basis points lower than those available in Texas and Colorado.

As stated in Security Service FCU’s Truth In Savings, the Early Withdrawal Penalty reads as follow:

Penalty amount will be calculated on the certificates current balance at the time of withdrawal.

If your account has an original maturity of more than one year, but less than five years: We may impose a penalty of all dividends earned not to exceed 180 days with a minimum of 60 days dividends, whether earned or not.

I’d like to thank TheShadow for his Forum post about this CD, because The Shadow Knows!

Availability

Headquartered in San Antonio, Security Service Federal Credit Union offers membership through a variety of ways.

Residency: Individuals who live, work, worship, or attend school in select areas of Texas (Austin, Corpus Christi, El Paso, Rio Grande Valley, San Antonio), Colorado (Boulder, Broomfield, Colorado Springs, Denver, Fort Collins, Loveland, Pueblo), or Utah (Salt Lake and Utah Counties) are eligible to join.

Volunteers: Individuals who volunteer in the above mentioned select areas of Texas, Colorado, and Utah are also eligible to join.

Military: Members of select military branches/units, or a Department of Defense employee at specific military bases with the Credit Union’s service areas are eligible to join.

Relationship: Family or household members of current members are eligible for membership.

Joining Security Service FCU and/or opening a CD can be done online, or in person at any of the 72 branches located in Colorado (19),Texas (39), and Utah (14).

Credit Union Overview

Security Service Federal Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas ratio of 8.83% (excellent), based on June 30, 2015 data. Security Service FCU has an average capitalization level of 9.07%, a result of holding $8.78 Billion in assets, with $795.72 Million in equity. Please refer to our financial overview of Security Service Federal Credit Union for more details.

Security Service Federal Credit Union (NCUA Certificate # 11065) was established in 1956 for the benefit of the members of the U.S. Airforce Security Service Command. The Credit Union opened its doors with eight members and $25 in assets – a far cry from today’s membership of over 713,000 and assets in excess of $8.7 Billion.

How the CD Compares

Considering that Security Service FCU’s field of membership includes portions of three different states, making a comparison to nationally available CDs is appropriate. Therefore, when compared to the 124 similar length-of-term CDs tracked by DepositAccounts.com that are available nationally, Security Service Federal Credit Union’s 13-month CD Special currently ranks fourth, regardless of minimum deposit.

The above rates are accurate as of 10/9/2015.

To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.

Comments
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Security Service FCU continues to offer a good deal on a 13-month CD. In San Antonio, the Jumbo 13-month CD rate is 1.25% APY.

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Security Service Federal Credit Union continues to offer competitive CD and IRA CD rates. The highest rates require a $100,000 minimum deposit. The rates fall 5 basis points for each lower tier of $50,000, $25,000 and $500. The rates also vary by location. You can see the rates in your area by inputting your zip code in the credit union's rates page. For zip codes in the area of the credit union's headquarters (San Antonio), the following rates are listed for a $100K minimum deposit as of 7/3/2012:

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Utah Only

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  • 2.50% APY min $100K
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