Securityplus Fed Credit Union Offers Rate-Leading 8-Month CD


UPDATE 11/16/2023: Details have been provided by Securityplus Federal Credit Union marketing personnel.

Deal Summary: 8-month Promotion Certificate, 6.00% APY, available 11/20/2023 through 11/30/2023, $1k min/$50k max deposit, new money required, limit of one per member.

Availability: Easy membership requirement

This is first for me: a pre-blog blog post. For ten days (starting next week), Maryland-based Securityplus Federal Credit Union (Securityplus) will be offering an 8-month Promotion Certificate earning 6.00% APY. As of this writing, all that is known about the 8-month Promotion Certificate is what is stated on the Share Certificates page.

SAVE THE DATE: We will be having a 6.00% APY* Flash Sale Event on 11/20/2023 thru 11/30/2023.

This will be an Online Exclusive ONLY 10 day event to lock in an amazing rate on our 8 month Share Certificate!

Check back here between those dates to open your account and take advantage of this exclusive offer.


The following information is from the 8-month Promotion Certificate landing page. NOTE: While the landing page has an “Open Account Online” button, the 8-month Promotion Certificate does not appear on application – you have to wait until Monday to open the Promotion Certificate.

  • $1k minimum/$50k maximum deposit.
  • Limit of one certificate per member.
  • Must be opened online and be funded with money not currently on deposit at Securityplus.
  • Will automatically renew at the 12-month share certificate rate and term in effect at the time of renewal.
  • IRA Share Certificates are not eligible for this promotion.
  • Securityplus reserves the right to end or modify this offer or update the stated APY at any time.

Thanks to DA reader, jcb194, for posting on this news in the DA Forum.

I called Securityplus in hopes of getting some information about the 8-month Promotion Certificate, but CSR had nothing to offer. I will call Securityplus on Monday morning and update this blog post with all the details.

The last promotion certificate Securityplus offered (11-month, 6.00% APY) was in February 2023. It was definitely a great rate, but it came with a $50k maximum deposit. We won’t know about any deposit limitations on the 8-month Promotion Certificate until next week and there is no point in speculating. The 11-month Promotion Certificate lasted 2-3 weeks; if the 8-month Promotion Certificate is easy to open online, it may not last even that long.

While the details on 8-month Promotion Certificate will remain a mystery for the next few days, chances are the rest of the information in this blog post will not change.

Early Withdrawal Penalty

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).


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.

Hot CD specials from credit unions with easy-membership options sometimes have issues with those trying to join. In response to the February 18, 2023 blog post (comment #48), DA reader, lakers, had a pretty favorable experience.

Applied morning of 02/21/23 for a new membership using American Consumer Council certificate as eligibility criteria, (ACC certificate was requested via email morning of 02/22/23 - I replied with the certificate minutes later). Membership is officially opened as of morning of 02/23/23 and funds are being pushed into required savings account from Primis Savings such that funds could be used to open certificate over the phone once the funds are in the required savings account.

Was expecting the process to be much tougher and time consuming, but to my surprise it was not bad at all, just a two day wait.

Let's hope that’s still the case.

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.

Account Opening

Joining Securityplus Federal Credit Union can be done online, by phone (410-281-6200 or 1-866-4SECPLUS), or at any of five 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.

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

As stated on the Share Certificates page,

This will be an Online Exclusive ONLY 10 day event to lock in an amazing rate on our 8 month Share Certificate!

Funding and Other Details

The following information is from the Securityplus website and a conversation with exceedingly polite CSR.

  • Funding – ACH, wire ($15 fee), or shared branch transfer. Funds must be on deposit before opening a Promotion Certificate.
  • CO-OP Shared Branch – Yes.
  • Maturing Funds – By check to address on file or internal transfer to savings account.
  • Grace Period – 10 days before automatic renewal as a 12-month Certificate.
  • Beneficiaries – Unlimited, equal shares, Social Security number required.
  • Dividends – Compounded/credited monthly, can be withdrawn or transferred to a Securityplus savings account.
  • Credit Check – Soft pull.

Credit Union Overview

Securityplus Federal Credit Union has an overall health grade of "B+" at, with a Texas Ratio of 5.61% (excellent) based on June 30, 2023 data. In the past year, Securityplus has increased its total non-brokered deposits by $32.98 million, an excellent annual growth rate of 7.25%. 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 35,000 members and assets in excess of $557 million.

How the 8-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 8-Month Promotion Certificate. The following table compares the 8-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 11/16/2023.

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

Related Pages: Baltimore CD rates, 1-year CD rates, nationwide deals

  |     |   Comment #1
Ken, why did I not see the securityplus 11month at 6% in Feb? I track multiple locations for these and never saw it.
  |     |   Comment #2
At that time, probably because of a slew of posts in that thread alluding to the possibility that that CD could only be opened via branch visit. Which was not true... I created a membership over the phone &
via email (though I never followed up).

Add to that that their phone line was super-jammed...many could not get through and gave up.
  |     |   Comment #4
I was a bit put off after their last 6% CD offer - they wouldn't let me open an account even though I applied in time and they told me I could open it. Hopefully they learned from the last episode, or are better equipped to handle things.

You can also get a $100 Amazon gift card if you open a checking account, fund it with $50, and keep it open for 30 days with this link
  |     |   Comment #5
now i am put off. Been sitting on hold for almost an hour. Went from 7 in que to 5. Can't get a hold of anyone to talk about application for this share cert. Going to cancel it because of this.
  |     |   Comment #6
Update: After sitting on phone for an hour, hung up, called back to CANCEL application. Was told it would have to be passed onto whatever dept. and I would get a call back in several days. What???? Customer service is HORRIBLE at this credit union. Never had such issues with any of the banks nor credit unions I have dealt with. Will now have to call my bank and have any transaction with Securityplus stopped. Losing money waiting on this CU to even answer their freaking phone.
  |     |   Comment #7
Terrible experience. We are from Texas and both applications ware denied due to unable to verify. Never got call back after 2 days
  |     |   Comment #8
Anybody else not hearing from this place? Left messages, left phone number, called numerous times...No emails, no return call. Should have listened to my instinct. Losing money......
  |     |   Comment #9
Something does not add up here. The Security Plus FCU's rate page advertises the APR of 5.85% and APY of 6.00% at this link.
But, even if you assume daily compounding the effective APY comes to 5.9649%. If you assume monthly compounding, the APY is 5.9508% and at quarterly compounding, the APY is at 5.9215%, Don't know how Security Plus FCU is advertising the APY at 6%. Does not make any sense. Ken, can you please check if the advertised yield is the correct yield?
  |     |   Comment #10
Ustaad - I just calculated it at 8 months, monthly compound, dividend rate 5.85%, and APY = 6.009%
  |     |   Comment #11
You're right. I should have used 12 compounding periods instead of 8 since the goal is to arrive at the "Annualized Yield".
  |     |   Comment #12
Anyone get an account opened yet? Applied Monday morning at 7:30 a.m. and still nothing. Not even an email.
  |     |   Comment #13
they are very slow at responding.
6.00% APY 11-Month CD Available at Securityplus Federal Credit Union - Expired
Update 3/8/23: The 6% CD Special is no longer available.

Update 2/23/23: I received confirmation from a Securityplus FCU official that this CD Special can be opened by phone.

Deal Summary: 11-month Promotion Certificate, 6.00% APY, $1k min/$50k max deposit, limit of one certificate per member.

Availability: Easy membership requirement. Opening the Promotion Certificate might require an in-person branch visit.

Maryland-based Securityplus Federal Credit Union (Securityplus) has unveiled an 11-month Promotion Certificate earning 6.00% APY. Described as “the ultimate parking space for your tax refund,” this limited-time offer requires...

Continue Reading
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.

Continue Reading

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.