Shell Federal Credit Union (TX) Boosts 60-Month CD, 3.60% APY

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Deal Summary: 60-month Share Certificate, 3.60% APY ($50k min) and 3.55% APY ($500 min).

Availability: Residents of Harris County, Texas.

Last week, Shell Federal Credit Union (Shell FCU) raised the rates on its 60-month Share Certificate, which now earns 3.60% APY ($50k min) or 3.55% APY ($500 min).

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.60*%$50k-Shell Federal Credit Union60 Month Share Certificate
OTHER TIERS: 3.55% $500 - $50k
3.60*%$50k-Shell Federal Credit Union60 Month IRA Certificate (Traditional, Roth)
OTHER TIERS: 3.55% $500 - $50k
Rates as of January 20, 2019.

The 60-month Share Certificate is also offered as an IRA (Traditional, Roth), earning the same APYs with the same minimum deposit requirements.

In the past seven months, there have been three rate increases for the 60-month Share Certificate, adding a total of 100 bps. These new rates are the highest for the 60-month Share Certificate in nearly nine years.

As stated in the Truth In Savings disclosure, the Early Withdrawal Penalty reads as follows:

For all accounts the amount of the early withdrawal penalty is based on the term of your account. The penalty is the greater of $25.00 or loss of dividends on amounts withdrawn, whether earned or not, to dividends that would have accrued over 50% of the remaining term of the account.

30-month Share Certificate Special

Shell FCU is also offering a 30-month Share Certificate Special, which earns 2.55% APY ($50k) or 2.50% APY ($500). There’s also a $250 cash back bonus if a minimum of $50k of new money is used to open a 30-month Share Certificate Special. According to the fine print on the promotion page,

You are eligible to take advantage of the $250 cash back incentive once every 30 days, although unlimited 30 month certificates can be opened during this promotion. The $250 cash back will be deposited in your primary savings on the 8th day following certificate opening.

2.55% APY is low for a 30-month CD and while the $250 cash back might be temping, $250 isn’t quite enough to make up for the low rate. On a $50k deposit, the extra $250 is roughly equal to an additional 20 bps, but 2.75% APY is still low for a 30-month CD.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.55%$50k-Shell Federal Credit Union30 Month Share Certificate Special - New Money
Rates as of January 20, 2019.

Availability

Headquartered in Deer Park, Texas, Shell Federal Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, worship, or attend school in Harris County, Texas, eligible for membership.

Joining Shell FCU and/or opening a Share Certificate can be done at any of ten Texas branches located in Deer Park, Houston (3), Humble, Katy, La Porte, Pasadena (2), and Spring.

While Shell FCU does not have an online application, it does offer a “Contact Me” form.

Interested in a Shell FCU Share Certificate?

Request to be contacted by a Shell FCU Representative.

Credit Union Overview

Shell Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.87% (excellent) based on September 30, 2018 data. In the past year, Shell FCU has increased its total non-brokered deposits by $50.98 million, an excellent annual growth rate of 6.27%. Please refer to our financial overview of Shell Federal Credit Union (NCUA Charter # 1941) for more details.

Shell Federal Credit Union was chartered in 1937 as a credit union for the employees of Shell Oil Company. Forty employees attended the first organizational meeting in January 1937 and at the end of the evening all 40 joined, paying a 25¢ membership fee. Shell FCU is currently the 20th largest credit union in Texas, with more than 96,500 members and assets in excess of $1 billion.

How the Share Certificate Compares

When compared to 251 similar length-of-term CDs tracked by DepositAccounts.com, which are available within the FOM, Shell Federal Credit Union's 60-month Share Certificate APYs currently rank fourth and sixth, regardless of minimum deposit.

Interest RateCD Length of TermCredit Union/Bank
3.69% APY60-Month Share Certificate ($60k min)United States Senate Federal Credit Union
3.62% APY60-Month Share Certificate ($20k min)United States Senate Federal Credit Union
3.61% APYSenior Citizen 5-Year CD ($2.5k min)State Bank of India (IL)
3.60% APY60-Month Share Certificate ($50k min)Shell Federal Credit Union
3.55% APY60-Month Share Certificate ($500 min)Shell Federal Credit Union

The above rates are accurate as of 1/7/2019.

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

Related Pages: Houston CD rates, 5-year CD rates

Comments
RonPaul
RonPaul   |     |   Comment #1
EWP is too high
Life is Good
Life is Good   |     |   Comment #2
Not a problem. I never cash a CD in before maturity. Not even if an emergency arises. Proper planning is the key. And with laddered CDs I have no concern or desire to chase rates. I have better things to do in life.
Common Cents
Common Cents   |     |   Comment #3
Ignoring withdrawal penalties is not proper planning.

We would never have to "cash a CD in before maturity" in case of an emergency, but if rates worldwide reset to a more normal rate, it is reckless to pay high fees or be locked into low current rates because we failed to consider withdrawal penalties.
Life is Good
Life is Good   |     |   Comment #4
#3, You think so?

My plan has worked for me for 40+ years of investing in CDs.
Common Cents
Common Cents   |     |   Comment #5
Confusing luck with skill. For the past 40 years, interest rates have gone in one direction.
AnnO
AnnO   |     |   Comment #8
"For the past 40 years, interest rates have gone in one direction."

lol, what? 40 years goes back all the way through the sky-high rate increases in the 1980s, and there have been plenty of fluctuations down and (not as far) back up since then.
Saving$$
Saving$$   |     |   Comment #9
Yes, Ann0. My thoughts too. Some people just ignore the facts or don't know them.
JO Jane
JO Jane   |     |   Comment #10
Precious AnnO and Saving$$ The "(not as far) back up" is key.

There are very few times during the past 40 years when a person would benefit by terminating a long term CD early.

There is a reason penalties have increased during the past few years.

It is impossible to be unaware that interest rates in the US have gone from historic highs 40 years ago to historic lows. They literally can't go any lower than they did a few years ago.
RonPaul
RonPaul   |     |   Comment #6
Ya because interest rates have been going down for 40 years
Jennifer
Jennifer   |     |   Comment #7
On this website(depositaccounts) if you click on "banks" and then calculators you will find a really good one to calculate the savings by breaking a CD early and moving it into a higher paying CD.

It's a little of a hassle to move the money, but it certainly makes for good money management overall.
JO Jane
JO Jane   |     |   Comment #11
That calculator is not actually too helpful.

If a person relies on it over time, the CD will be terminated each time rates increase enough to pay the penalty, resulting in no profit each time the CD is terminated.
Shell FCU (TX) Raises Rate On 60-Month Share Certificate
Deal Summary: 60-month Share Certificate, 2.55% APY ($500 min) and 2.60% APY ($50k min).

Availability: Residents of Harris County, Texas.

Over the weekend, Shell Federal Credit Union (Shell FCU) raised the rates on its 60-month Share Certificate, which now earns 2.55% APY ($500 min) and 2.60% APY ($50k min).

The 60-month Share Certificate is also offered as an IRA (Traditional, Roth), earning the same APYs with the same funding requirements.

There were two rate changes for the 60-month Share Certificate in May (the first since July 2015), adding...

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