Self-Help Credit Union Boosts Long-Term CD Rates


Deal Summary: CDs – 48-month and 60-month, 4.86% APY, $500 minimum deposit.

Availability: Easy membership

North Carolina-based Self-Help Credit Union (SHCU) recently added 26 bps and 21 bps, respectively, to its 48-month CD and 60-month CD; both CDs currently earn 4.86% APY. The minimum opening deposit is $500, with no balance cap.

4.08%$500-Self-Help Credit Union48 Month IRA (Traditional, Roth)
4.08%$500-Self-Help Credit Union60 Month IRA (Traditional, Roth)
4.08%$500-Self-Help Credit Union48 Month CD
4.08%$500-Self-Help Credit Union60 Month CD
Rates as of May 19, 2024.

Both CDs are also available as IRA CDs (Traditional and Roth), earning the same APY with the same deposit requirements.

Early Withdrawal Penalty

As stated in the SHCU Membership Booklet (page 7), the Early Withdrawal Penalty reads as follows:

Terms greater than 12 months - 180 days of interest

CSR confirmed that partial withdrawals are permitted, but any withdrawal made within 180 days of account opening will reduce the principal.

The Account Limitations section of the Membership Booklet implies early withdrawals will be allowed subject to the early withdrawal penalty:

After your account is opened you may make withdrawals subject to the early withdrawal penalties

One of the exceptions to early withdrawal penalties is noteworthy for those interested in IRA Certificates:

where the account is an IRA or Keogh and the owner attains age 59 ½


Headquartered in Durham, North Carolina, Self-Help Credit Union’s field of membership (FOM) includes an easy membership requirement for all U.S. citizens and residents aliens (18 years or older) who have a valid Social Security number or ITIN. Joining the Center for Community Self-Help, an umbrella organization that encompasses all parts of Self-Help, qualifies for SHCU membership.

The last eligibility option on the online membership application states,

I wish to apply for Mission Supportive Membership. You are welcome to join Self-Help Credit Union through membership in its affiliate non-profit, the Center for Community Self-Help (CCSH). You can join CCSH by electing to support its economic development mission and paying a one-time membership fee of $5.

Other ways to join include,

Residency: Individuals who live, work, worship, or attend school in the North Carolina counties of Beaufort, Bertie, Brunswick, Buncombe, Burke, Camden, Caswell, Catawba, Chowan, Cleveland, Columbus, Durham, Edgecombe, Forsyth, Franklin, Gaston, Gates, Granville, Greene, Guilford, Halifax, Haywood, Henderson, Hertford, Hyde, Jackson, Lenoir, Lincoln, Madison, Martin, McDowell, Mecklenburg, Mitchell, New Hanover, Northampton, Orange, Pasquotank, Pender, Perquimans, Person, Pitt, Polk, Scotland, Transylvania, Vance, Wake, Warren, Washington, or Wilson, or Greene County, South Carolina are eligible for membership. Those who live or work in Duval County, Florida also qualify for membership.

Employment/Association: Employees or members of 16 companies/organizations, including Duke University Health Systems and Federal Government agencies in Columbia, South Carolina, are also eligible to join.

Family Relationship: Immediate family members (child, step-child, parent, sibling, spouse) of a current SHCU member or an SHCU employee are welcome to apply.

Joining SHCU and/or opening a CD can be done online or at any of 23 North Carolina branches located in Ashville (2), Charlotte (2), Durham (3), Greensboro, Hendersonville, Kinston, Laurinburg, Lexington, Maiden, Morganton, Old Fort, Pisgah Forest, Raleigh, Rocky Mount, Rosman, Salisbury, Wilmington, Wilson, and Windsor.

There are also six South Carolina branches in Columbia (2), Greenville (3), and Piedmont; eight Florida branches in Apopka, DeLand, Jacksonville (3), Miami Springs, Tallahassee, Winter Park; and single Virgina branch in Galax.

As stated in the Join Us FAQs,

Located in CA, IL, or WI? Our sister credit union, Self-Help Federal CU (SHFCU), has branches in your area.

A minimum $5 deposit in a Savings Account establishes an SHCU membership.

Funding and Other Details

The following information is from a conversation with CSR.

  • Funding – ACH, shared branch transaction.
  • Ownership – Individual, joint, or trust.
  • CO-OP Shared Branch Participant – Yes.
  • Dividends – Compounded daily/credited quarterly, can be withdrawn penalty-free.
  • Maturing Funds –ACH, cashier’s check to the address on file, or internal transfer to a SHCU savings account.
  • Beneficiaries – Unlimited and percentages can be assigned. Social Security number is required.
  • Grace Period – 10 calendar days before automatic renewal.
  • Credit Check – Soft pull.

Credit Union Overview

Self-Help Credit Union has an overall health grade of "A" at, with a Texas Ratio of 8.33% (excellent) based on June 30, 2023 data. In the past year, Self-Help CU has increased its total non-brokered deposits by $67.9 million, an excellent annual growth rate of 5.79%. Please refer to our financial overview of Self-Help Credit Union (NCUA Charter # 66258) for more details.

Chartered in 1938, Self-Help Credit Union was established to help employees in rural North Carolina form worker-owned cooperatives and gain ownership of local mills that were being shut down. The first capital raised was $77 – the proceeds of a bake sale organized by a baker whom Self-Help CU has assisted. The first "office" was co-founder Martin Eakes’ VW Bug, which unfortunately caught fire; both the car and Self-Help CU’s records were a complete loss. 85 years later, Self-Help CU has more than 90,000 members, assets in excess of $1.7 billion, and a sister credit union, Self-Help Federal Credit Union, with branches in southern California, Chicago, Milwaukee (WI), and central Washington State.

How the 48-Month CD Compares

When compared to similar length-of-term CDs tracked by that are available nationwide and have minimum deposit requirements of $10k or less, one bank and one credit union have higher rates than currently offered on the Self-Help Credit Union 48-month CD. The following table compares the 48-month CD to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

How the 60-Month CD Compares

When compared to similar length-of-term CDs tracked by that are available nationally and have minimum deposit requirements of $10k or less, two banks and one credit union have higher rates than currently offered on the Self-Help Credit Union 60-month CD. The following tables compares the 60-month CD 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 11/7/2023.

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

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

Previous Comments
  |     |   Comment #1
It's a little unclear to me - are you (Ken) saying that if one has an IRA CD and is over age 59 1/2, there *is* no EWP - one can withdraw (multiple times?) from the CD until maturity? Also, in the post with BMO Alto from today, there's no mention of it being able to be and IRA CD, so I assume that's not possile, yes? 
Less imporant:.Also, to be clear - when the CSR said that withdrawals before 180 days of opening will dig into interest: Does that mean that partial withdrawals (let's say for instance, withdrawing 10% after several months before 180 days) - that the interest accrued on the entire funds in the CD can't be put towards meeting the EWP, only the interest on the 10% withdrawn plus the whatever principal represented by that 10% needed to meet the 180 day EWP? This question really doesn't matter as it's just a different way of 'slicing the pie' - you end up with the same amount of penalty regardless of whether you deduct it from interest or pricipal. But I'm guessing that perhaps if you made a larger withdrawal, or a previous withdrawal, and there wasn't enough interest to cover the penalty, then it would cut into principal, and that makes sense.(?) TIA.
  |     |   Comment #2
Self Help CD rates decreased today. 36,48 and 60 dropped to 4.29%.  12 and 18 dropped to 4.71% and 24 dropped to 4.50%
Self-Help CU (Easy Membership) Hikes 18-Month CD Rate
Availability: Easy membership

Earlier this month North Carolina-based Self-Help Credit Union’s (Self-Help CU) raised the rate on its 18-month CD (1.31% APY). The minimum deposit is $500 and there is no balance cap. This was the first rate increase for the 18-month CD since September 2014, when the APY was 0.80% APY.

The 18-month CD is also available as an IRA (Traditional, Roth, and CESA), earning the same APY with the same funding requirements.

As stated in Self-Help CU’s Membership Booklet, the Early Withdrawal Penalty reads...

Continue Reading
Competitive 12-Month and 18-Month CD Rates at Community Trust Credit Union in California - Local Only

Community Trust Credit Union is offering some competitive CD and IRA CD rates. These include a 2.07% APY 12-month CD, a 2.17% APY 18-month CD and a 2.33% APY 24-month CD. Minimum deposit is $2,500. These rates are listed in the credit union's rates page as of the morning of 2/11/2010.

I have a feeling these rates won't last much longer. This credit union is a division of Self-Help Federal Credit Union which just recently lowered its 12-month and 24-month CD rates last week. However, Community Trust's CDs have some differences...

Continue Reading
Competitive CD Rates at Self-Help Credit Union in NC & CA - Available Nationwide
Self-Help Credit Union (SHCU) continues to offer some competitive CD rates. The deposit rates haven't been that great since my 2008 SHCU post, but its 12-month and 24-month CD rates have held for the last several months while other institutions have been cutting their rates. So these rates are now quite competitive. The current 12-month CD rate is 2.07% APY and the 24-month CD rate is 2.33% APY. These are listed at the credit union's rates page as of 12/06/09. The rates change every business day, but these 12-month and...
Continue Reading
Self-Help Credit Union - CD Rates and a Big Policy Change
Self-Help Credit Union has been offering some attractive CD rates lately. The most competitive rates currently range from 3.75% APY for a 12-month term to 4.76% APY for a 60-month term. The minimum deposit is $500. Below is the full list of rates:

CD Rates as of 6/16/08

Term APY
3-month 2.85%
6-month 3.31%
12-month 3.75%
24-month 4.05%
36-month 4.41%
48-month 4.63%
60-month 4.76%

Membership is open to anyone who pays a $25 one-time fee. $20 of that...

Continue Reading
Self-Help Credit Union - Unique CDs, Good Rates, Easy Membership
It has been about 19 months since my first report on Self-Help Credit Union (SHCU). Through this time they've maintained competitive CD rates (see SHCU rate table). I haven't reported much on them in the last year since their rates haven't been that great. However, their rates have started going up lately, so I decided it's time for another post. Here are the current CD yields as of June 8, 2007:

3-month term 4.86...

Continue Reading

More Past Offers

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.