Service Credit Union's 18-Month Share Certificate Earns 2.50% APY

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Deal Summary: Share Certificates – 18-month (2.50% APY) and 24-month (2.55% APY), $1k minimum deposit.

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/former members of the U.S. Military and Department of Defense; residents of New Hampshire and portions of Massachusetts (Cape Cod).

Two of Service Credit Union’s (Service CU) CDs – 18-month (2.50% APY) and 24-month (2.55% APY) – were added to this week’s CD Rate Summary as “NTS" (New-to-Summary) entries. NTS CDs are CDs that have become competitive not through rate increases, but by simply maintaining APYs as other rates have fallen. Service CU CDs can be opened with a $1k minimum deposit, with no stated balance cap.

Service CU Share Certificates are also available as IRAs (Tradition, Roth, CESA), earning the same APYs with the same funding requirements.

Early Withdrawal Penalty

According to CSR, the Early Withdrawal Penalty (EWP) for Share Certificates with terms of one year to less than two years is 180 days of dividends; Share Certificates with terms of two years or more have an EWP of 365 days of dividends.

Funding and Maturing Funds

As stated on the Eligibility page of the online application, Service CU accounts can be funded from a U.S. bank account, or a credit/debit card. In a Live Chat, CSR stated there is no limit on the amount that can be funded using a credit card. CSR also stated that maturing funds can be distributed “any way you like” – cashier’s check, ACH, wire transfer, or transfer to a Service CU checking/savings account. Unlimited beneficiaries can be name (equal shares), with Social Security numbers required for each beneficiary.

Excess Share Insurance

Due to a restriction with an insurance provider, Service Credit Union is no longer able to offer Excess Share Insurance to our account holders. This change went into effect on July 1, 2018.

Availability

Headquartered in Portsmouth, New Hampshire, Service Credit Union’s field of membership (FOM) is diverse although, 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/has served in the US military or DOD.

DA reader, Carpline, was able to join based on 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: Members and employees of seven SEGs are also eligible.

A complete description of Service CU’s membership eligibility is available on the first page of the online application.

Joining Service Credit Union and/or opening a Share Certificate can be done online, by phone (800.936.7730), or by visiting any of 36 New Hampshire branches located in Amherst, Bedford, Berlin, Concord, Derry, Durham, Epping, Exeter, Franklin, Gorham, Hampton, Hinsdale, Hudson, Keene (2), Lancaster, Lebanon (2), Manchester, Nashua, Newington (3), Plymouth, Portsmouth (4), Rochester (2), Salem (2), Seabrook, and Somersworth (2), or the single Massachusetts branch in Falmouth. Service CU also has military branches located in Great Forks, North Dakota and Portsmouth, New Hampshire, along with 14 military branches in Germany.

To become a member of Service Credit Union, you must open a Share Savings account with a deposit of $5 or more. Equally important, your membership makes you eligible for all the other services Service Credit Union offers.

Service Credit Union participates in the CO-OP Share Branch and ATM networks.

Members can conduct Service Credit Union transactions at 5,000 shared branch locations and nearly 30,000 surcharge-free ATMs worldwide. Make deposits, withdrawals, transfers, account inquiries and other transactions at convenient locations near work, home, shopping and travel locations.

Credit Union Overview

Service Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 1.53% (excellent) based on June 30, 2019 data. In the past year, Service Credit Union increased its total non-brokered deposits by $276.86 million, an excellent annual growth rate of 10.09%. Please refer to our financial overview of Service Credit Union (NCUA Charter # 68375) for more details.

Service Credit Union was established in 1957, serving the military and civilian employees at New Hampshire’s Pease Air Force Base. Headquartered in Portsmouth, Service CU is currently New Hampshire's largest credit union and the 59th largest credit union in the country, with assets in excess of $3.7 billion and more than 278,600 members.

According to an April 2019 press release,

The Credit Union National Association (CUNA) has recognized Service Credit Union with its Certificate of Excellence.

CUNA determined that Service Credit Union provided $56,874,253 in direct financial benefits to its 241,845 members during the twelve months ending in September 2018. These benefits are equivalent to approximately $494 per member household. Service Credit Union provided loyal high-use member households $1,139 in direct financial benefits.

How the Share Certificate Compares

When compared to 159 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit ($5k or less) and are available nationwide, Service Credit Union's 18-month Share Certificate APY currently ranks second.

When compared to 205 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit ($5k or less) and are available nationwide, Service Credit Union's 24-month Share Certificate APY currently ranks second .

The above rates are accurate as of 9/27/2019.

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

Related Pages: Portland CD rates, Boston CD rates, Burlington CD rates, Fargo CD rates, 1-year CD rates, 5-year CD rates, nationwide deals

Comments
Service Credit Union Adds Black Friday 27-Month CD
Deal Summary: Special Rate Share Certificates – 27-month (3.25% APY) and 18-month (3.05% APY), $1k minimum deposit. November 23-26 only.

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).

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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).

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Deal Summary: 5-year Share Certificate, 3.00% APY, $1k minimum deposit.

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).

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Deal Summary: 18-month Share Certificate Special, 2.00% APY, $1k minimum deposit.

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).

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Service Credit Union Adds 30-Month CD Special
Deal Summary: 30-month Share Certificate Special, 2.05% APY, $1k minimum deposit.

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 (Falmouth area).

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