Service CU Celebrates 60 Years With 60-Month CD Special (2.60% APY)


Deal Summary: 60-month Certificate Special, 2.60% APY, $600 minimum deposit, available through April 30, 2017

Availability: Easy membership requirement for family members of individuals who are serving, or have ever served, in any branch of the U.S. Military or Department of Defense*; Active and former members of the U.S. Military and Department of Defense; Residents of New Hampshire and portions of Massachusetts (Cape Cod)

In the past year or so, I’ve had occasion to write four blog posts about various offerings from New Hampshire-based Service Credit Union (Service CU). The latest deal is in celebration of the Credit Union’s 60th Anniversary, and while the 60-month Certificate Special doesn’t come with a complimentary diamond or two, its 2.60% APY is rather golden.

This limited-time Certificate Special is only available through April 30, 2017. The minimum opening deposit is $600, with no stated balance cap.

2.00%$1k-Service Credit Union5 Year Share Certificate
Accounts mentioned in this post. Rates as of May 27, 2017.

The Certificate Special is also available as an IRA (Traditional, Roth, CESA) earning the same 2.60% APY, with the same funding requirements.

As stated in Service Credit Union’s Account Agreement and Disclosure brochure, the Early Withdrawal Penalty reads as follows:

If any of the deposit is withdrawn before the maturity date, a penalty as shown below would be imposed:

    Term length of 2 Years or longer - 365 days’ dividends


Headquartered in Portsmouth, New Hampshire, Service Credit Union’s field of membership (FOM) is diverse, and as the name suggests, a military service relationship plays a large role. The parameters of the military service requirements have been expanded to a point that the FOM could almost be described as including an easy membership requirement.

Military Relationship: Anyone who ever served, or is currently serving in the U.S. Military or Department of Defense, whether enlisted or civilian, is eligible to join.

*Family Relationship: Family members of individuals who are serving, or have served, in any branch of the U.S. Military or Department of Defense. The last line on the online application reads,

I am a family member of someone who is serving or served in one of the following US military branches or DOD: Army, Navy, Air Force, Marines, Army National Guard, Coast Guard, Air National Guard, and Civilian employee of DOD.

DA reader, Carpline, was able to join because of his father’s service during WWII. Carpline stated that Service CU only required his father’s name, last known address, and the branch of the military in which he served. Nearly everyone has a relative with current or past military service, hence the “almost” easy membership requirement.

Other ways to join include,

Residency: Individuals who live or work in New Hampshire, or in the Massachusetts towns of Bourne, Falmouth, Mashpee, and Sandwich are eligible to join.

Employment: Employees of more than 60 New Hampshire SEGs, qualify for membership.

Affiliation: Members and employees of seven trade organizations are also eligible.

A complete description of Service CU’s membership eligibility is available on the website.

Joining Service Credit Union and opening a Certificate Special can be done simultaneously online, by phone, or by visiting any of 33 New Hampshire branches located in Amherst, Bedford, Berlin, Concord, Derry, Epping, Exeter, Franklin, Gorham, Hampton, Hinsdale, Hudson, Keene (2), Lancaster, Lebanon (2), Manchester, Nashua, Newington, Plymouth, Portsmouth (4), Rochester (2), Salem (2), Seabrook, Somersworth (2), and Tilton, or the Falmouth, Massachusetts branch. Service CU also has a military branch located in Great Forks, North Dakota and in Portsmouth, New Hampshire, and 14 military branches in Germany.

Credit Union Overview

Service Credit Union has an overall health grade of "A+" at, with a Texas ratio of 2.00% (excellent) based on December 31, 2016 data. In the past year, Service Credit Union increased its total deposits by $259.39 million, an excellent annual growth rate of 11.81%. Please refer to our financial overview of Service Credit Union (NCUA Charter # 68375) for more details.

Service Credit Union was established in 1957 to serve the military and civilian employees at New Hampshire’s Pease Air Force Base. Headquartered in Portsmouth, Service Credit Union is the largest credit union in New Hampshire and the 59th largest in the country, with assets in excess of $3 billion and more than 239,000 members.

How the Certificate Special Compares

When compared to the 181 similar length-of-term CDs tracked by that require a similar minimum deposit and are available nationwide, Service Credit Union's 5-Year Certificate Special APY currently ranks second.

*Note: Melrose Credit Union is currently operating under an NCUA conservatorship.

The above rates are accurate as of 3/31/2017.

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

XXX   |     |   Comment #1
The rest of their rates stink and the EWP of 365 days for 2 years plus is absolute bleep.
Bozo   |     |   Comment #2
I'm always confused by Truth in Savings disclosures which incorporate by reference other disclosures (which one cannot find on-line), which might, or might not, impact EWPs. Page 19 of this particular credit union's disclosure is a good example. Note to financial institutions: if you want us to plop money into your accounts, kindly be a bit more transparent, and either set forth all your terms and conditions in your Truth in Savings disclosure, or link sub-disclosures for ready reference. Merely stating, "oh, by the way, other terms might apply to IRAs" just doesn't hack it.

For example, are partial withdrawals from IRA CDs allowed for RMDs with no EWP? Such a basic issue really should be addressed in the Truth in Savings Disclosure, and not relegated to another document, if at all.
LuvCD   |     |   Comment #3
Bozo...I agree. I tried to see what, if any, for ira EWP...found nothing...They must not like IRAs. :-)
Jet131821   |     |   Comment #4
I opened over the phone, they debited my account, nice customer service rep, it was easy. Once opened it can be converted to trust acct.
Bogey   |     |   Comment #5
There is an advantage high EWPs for some of us. While EWPs may keep some depositors away, the financial institutions offer higher rates to attract others who don't worry about EWPs. It helps weed out rate chasers looking to jump ship at the next rate hike, when ever that may be. Thus financial institutions can manage their money flow and financial business more efficiently.
LuvCD   |     |   Comment #6
Banks offer higher rates on brokered CDs that have no EWP. Doing that, banks "don't care about rates or EWPs for brick and mortar customers." (Why they call the latter 'customers ' is a mystery) Look at the rates offered by the big guys/gals
KevinM   |     |   Comment #7
Not necessarily true. Patelco CU has a 5-year at 2.75% with EWP of six months of interest. Andrews FCU was offering a 7-year at 3% with EWP of six months of interest until recently.
LuvCD   |     |   Comment #8
You made my point
KevinM   |     |   Comment #9
I was replying to Bogey's comment, not to yours. Two examples of direct CDs with lower EWPs and higher rates.

But it's also not necessarily true that banks offer higher rates on brokered CDs than on the same or similar direct CDs. I haven't looked recently, but definitely have seen lower rates on brokered CDs from same bank for same term in the past.
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