Shell Federal Credit Union (TX) 60-Month CD Earns Up To 3.35% APY

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Deal Summary: 60-month Share Certificate, 3.35% APY ($50k min) and 3.30% APY ($500 min).

Availability: Residents of Harris County, Texas.

At the beginning of the year, Shell Federal Credit Union (Shell FCU) raised the rates on its 60-month Share Certificate to a nine-year high: 3.60% APY ($50k min) and 3.55% APY ($500 min). Those rates lasted for four months, before dropping to 3.35% APY ($50k min) and 3.30% APY ($500 min).

While I wouldn’t normally consider a loss of 25 bps to be favorable, the lowered rates have actually become competitive, as other rates have continued downward. If you look at the Comparison section below, you’ll see the APYs currently rank first and second. In January, when the rates were 25 bps higher, the APYs only ranked fourth and sixth.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.10*%$50k-Shell Federal Credit Union60 Month Share Certificate
OTHER TIERS: 3.05% $500 - $50k
3.10*%$50k-Shell Federal Credit Union60 Month IRA Certificate (Traditional, Roth)
OTHER TIERS: 3.05% $500 - $50k
Rates as of September 19, 2019.

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

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 The penalty is the greater of $25.00 or loss of dividends on amounts withdrawn, whether earned or not, to dividends that would have accrued over 50% of the remaining term of the account.

Availability

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

Since I last wrote about Shell FCU, an online application has been added (click on New! Bank With Us, located on the left-hand side of every Shell FCU website page).

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

With only a $5 savings account deposit, anyone in Shell FCU’s field of membership can experience banking but better.

Even though there is an online application, a “Contact Me” form is still available.

Interested in a Shell FCU Share Certificate?

Request to be contacted by a Shell FCU Representative.

Two years ago, Shell FCU decided to no longer participate in the Shared Branch Network.

In analyzing member activity over the course of a year, only 4% of our 80,000 members use a Credit Union Service Center (also known as Shared Branching) to perform deposit or withdrawal transactions.

Credit Union Overview

Shell Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.95% (excellent) based on March 31, 2019 data. In the past year, Shell FCU has increased its total non-brokered deposits by $49.95 million, an excellent annual growth rate of 5.65%. 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 18th largest credit union in Texas, with more than 101,500 members and assets in excess of $1.14 billion.

How the Share Certificate Compares

When compared to 252 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 first and second, regardless of minimum deposit.

The above rates are accurate as of 7/25/2019.

Looking for the best CD rates, both nationwide and in your state? Please refer to our CD Rates Table page.

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

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

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...

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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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After four years, Shell Federal Credit Union (Houston, Texas metro area) continues to offer their high-yield reward BE GREEN Checking account. Even though the BE GREEN Checking has two downsides for a reward checking account (an above average debit card usage requirement and a below average balance cap), the upside is having a reward checking account available in a large metropolitan area.

BE GREEN monthly requirements include:

  • 20 debit card purchases
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Here's another Texas credit union with some top rates. Shell Federal Credit Union has several competitive CD rates. The best one is 2.20% APY for a 5-year term. Other competitive CDs include a 1.20% APY 18-month CD and a 1.60% APY 3-year CD. Minimum deposit is $50,000. The rates are 5 basis points lower for a $500 minimum deposit. These rates are listed in the credit union's investment rates page as of 7/27/2012.

The credit union also has a competitive reward checking account. It's called BE GREEN Checking, and it pays...

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Shell Federal Credit Union is offering a high-yield reward checking account called BE GREEN Checking. It has two downsides for reward checking: above average debit card usage requirements and a balance cap that's a little below average. Nevertheless, it's nice to see another reward checking account available in a big city. Below are the rates and features if certain monthly requirements are met (as of 6/15/2010):

  • 3.08% APY on balances up to $20,000
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