Securityplus Federal Credit Union Adds Rate-Leading 23-Month Promo CD


UPDATE: 10/24/2022 – Must be opened in-branch.

Deal Summary: – 23-month Promotion Certificate, 4.85% APY, $10k minimum deposit.

Availability: Easy membership requirement

It's not 5%, but it's close. Maryland-based Securityplus Federal Credit Union (Securityplus) recently unveiled a 23-month Promotion Certificate earning 4.85% APY. This limited-time offer requires a $10k minimum deposit of new money, which is defined simply as funds not currently on deposit at Securityplus. According to the fine print on the Share Certificates page, the 23-month Promotion Certifcate has no maximum deposit.

4.85%$10k-Securityplus Federal Credit Union23 Month CD Special - New Money
Rates as of December 5, 2022.

The 23-month Promotion Certificate is also available as an IRA Promotion Certificate (Traditional and Roth), earning the same APY. As stated in the Share Certificates page fine print,

IRA certificates are subject to IRS contribution limits.

As stated in the Member Service Agreement (page 23), the Early Withdrawal Penalty reads as follows:

The member will forfeit an amount equal to ninety (90) days dividends at the rate paid or payable for the preceding ninety (90) days on the amount withdrawn before maturity or authorized withdrawal date whether earned or not (this may reduce the principal).

Funding and Other Particulars

  • Funding – ACH, wire transfer, or shared branch transfer. Funds must be on deposit before opening a Promotion Certificate.
  • Maturing Funds – distributed by check to address on file or through internal transfer to savings account.
  • Grace Period – ten days before automatic renewal as standard 24-month Certificate.
  • Beneficiaries – unlimited, equal shares, Social Security number required.
  • Dividends – compounded and credited monthly and can be withdrawn or transferred to a Securityplus savings account.
  • Credit Check – Soft pull.


Headquartered in Baltimore, Maryland, Securityplus Federal Credit Union’s field of membership (FOM) provides a way to join for almost any U.S. citizen/resident alien (18 years of older) with a valid Social Security number.

Easy Membership Requirement: Members of the American Consumer Council (ACC) are eligible for Securityplus membership, regardless of residency status.

Please note that the ACC option for membership has been in effect for less than a year and no reviews of this credit union have been made before today. Based on history at other credit unions, hot CD specials from credit unions with new easy-membership options often had issues for new members. If you try to join and open this CD, please share your experiences in the comments.

UPDATE 10/24/2022 - This morning and this afternoon I was told by two different CSRs that the Promotion Certificate could be opened over the phone. A long-time DA reader forwarded an email from Securityplus this evening (emphasis is mine).

Thank you for your interest in membership with Securityplus Federal Credit Union. Unfortunately, if and when your application is approved you would not be able to open the share certificate over the phone.

Residency: Individuals who live, work, worship, or attend school in Baltimore City qualify for membership.

Employment: Employees/retirees of more than 100 Select Employee Groups (including the Centers for Medicare & Medicaid Services, Food & Drug Administration, and Social Security Administration) are also eligible for membership.

Relationship: Family member or household members of current Securityplus are welcome to apply.

Joining Securityplus Federal Credit Union can be done online, by phone (410-281-6200 or 1-866-4SECPLUS), or at any of six Maryland branches located in Baltimore (5) and Owings Mill. Note: three Baltimore branch locations (6401 Security Blvd, 7500 Security Blvd, and 1500 Woodlawn Drive) have restricted access.

Opening a Promotion Certificate can only be done in-branch or over the phone; there is no online account opening available.

A Primary Savings Account with a minimum $5 deposit establishes a Securityplus membership.

Securityplus participates in the CO-OP Shared Branch network and the CO-OP ATM network.

Credit Union Overview

Securityplus Federal Credit Union has an overall health grade of "B+" at, with a Texas Ratio of 9.22% (excellent) based on June 30, 2022 data. In the past year, Securityplus has increased its total non-brokered deposits by $17.14 million, an excellent annual growth rate of 3.92%. Please refer to our financial overview of Securityplus Federal Credit Union (NCUA Charter # 2769) for more details.

Chartered in 1938, Securityplus Federal Credit Union’s original FOM was exclusive to Social Security Administration employees. Securityplus is currently the 16th largest credit union headquartered in Maryland, with more than 33,000 members and assets in excess of $525 million.

How the 23-Month Promotion Certificate Compares

When compared to similar length-of-term CDs tracked by that are available nationally and have minimum deposit requirements of $10k or less, no bank or credit union has a higher rate than currently offered on the Securityplus Federal Credit Union 23-Month Promotion Certificate. The following table compares the 23-Month Promotion Certificate to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 10/24/2022.

To look for the best CD rates, both nationwide and state specific, please refer to our CD rates table page.

Post Publication Edits:

10/24/2022: Corrected Securityplus EWP in comparison rate table.

Related Pages: Baltimore CD rates, 5-year CD rates, IRA CD rates, nationwide deals

  |     |   Comment #1
EWP 360 or 90 days, which is it?
Ken Tumin
  |     |   Comment #2
The EWP is 90 days as specified in the Member Service Agreement. The comp table has been corrected. Sorry for the confusion.
  |     |   Comment #3
Still havent seen a brokered CD above 4.75% that isnt callable.
  |     |   Comment #6
Is this in fact a brokered cd?
  |     |   Comment #9
It is not a brokered CD.
  |     |   Comment #4
Visited the CD rate page for this offer and found the following sentence in the fine print below the listed rates: " The 23-Month share or IRA certificate must be opened at a Securityplus Federal Credit Union branch location and must be funded with money not currently on deposit at Securityplus (new money)." Probably need to confirm this offer isn't only for branch visits and can be obtained online.
  |     |   Comment #7
There is no online opening, CSR said I could open the CD over the phone after I deposited the new funds.
  |     |   Comment #10
Do they allow a rate lock in for, say, two or three weeks, for a a trustee-to-trustee IRA transfer?
  |     |   Comment #11
I'm reading an IRA needs to be opened in person...get a check from transferor trustee payable to transferee trustee FBO you (do not sign/endorse) as a transfer transaction and physically take to cu...may want to confirm no 1099s will be issued.
  |     |   Comment #5
“Opening a Promotion Certificate can only be done in-branch or over the phone; there is no online account opening available.”
  |     |   Comment #8
"Funding and Other Particulars"

Thank you for adding this section to posts Ken. I find the information you include here to be very useful.
  |     |   Comment #12
Please add Securityplus FCU to the CD rate table. Thank you!

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