Signal Financial Adds 24-Month CD Special (3.10% APY)

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Deal Summary: 24-month Winter WOW CD Special, 3.10% APY, $500 minimum deposit, unlimited additional deposits, one penalty-free withdrawal, term length extension.

Availability: Easy Membership Requirement for residents of Maryland, Virginia, and Washington DC; employees and retirees of nearly 200 SEGs.

Maryland-based Signal Financial Federal Credit Union (Signal Financial) is chasing away the winter time blues with a 24-month Winter WOW CD Special (3.10% APY), which can be opened with a $500 minimum deposit.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.63%$500-Signal Financial Federal Credit Union24 Month Winter WOW CD Special
Rates as of March 24, 2019.

The wow-worthy Winter WOW CD Special offers three options:

  • Additional Deposits – unlimited number of deposits throughout the term, with no dollar amount restrictions.
  • Penalty-Free Withdrawal – one withdrawal of up to 50% of the balance. Any withdrawals beyond the one penalty-free withdrawal are subject to an Early Withdrawal Penalty of 182 days dividends on the amount being withdrawn.
  • Extend the Term – at any time during the term, six or more months can be added to the maturity date, with the extended months earning the 3.10% APY.

Availability

Since I last wrote about Signal Financial, the field of membership (FOM) has changed, with the easy membership requirement no longer available nationwide.

Easy Membership: Residents of Maryland, Virginia, and the District of Columbia can qualify for Signal Financial membership by joining Washington Area Bicyclist Association (WABA). As state on Signal Financial's Membership page, "we will pay the first year’s membership fee for new members.”

Residency: Individuals who live, work, worship, or attend school in Washington, DC or inside the Beltway in Prince George’s County (Maryland) are eligible to join.

Select Employee Groups: Any employee, retiree or surviving spouse of the nearly 200 SEGs (including Verizon, Verizon Wireless, and AT&T) is eligible.

Association: Employees or business members of the Wheaton-Kensington Chamber of Commerce are welcome to apply, as are the residents and employee of Leisure World of Maryland (a gated community for adults age 55+ in Montgomery County).

Relationship: Family members related by blood, marriage, or other recognized family relationship in the same household (living under the same roof or not) of any current Signal Financial member are eligible.

Joining Signal Financial and/or opening a Winter Wow Share Certificate can be done online or at any of seven branches* located in Washington, D.C. (3), Northern Virginia, and Maryland (3), or by mail (all necessary paperwork can be requested by calling 301.933.9100, ext. 298).

*Note: The Silver Spring (MD) and Ashburn (VA) branches have restricted access, with only current Verizon employees with ID permitted to enter.

Credit Union Overview

Signal Financial Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 5.72% (excellent) based on September 30, 2018 data. In the past year, Signal Financial has increased its total non-brokered deposits by $14.31 million, an excellent annual growth rate of 4.79%. Please refer to our financial overview of Signal Financial Federal Credit Union (NCUA Charter # 5571) for more details.

In September 1947, the Washington Telephone Federal Credit Union (WTFCU) was granted a charter, for the purpose of benefiting the telephone company’s employees. In the past 72 years, the types of financial services offered changed, and the number of branch offices grew to keep pace with the ever-changing financial needs of the membership. In 2007, WTFCU became the Signal Financial Federal Credit Union during a FOM expansion that included more than 150 small to medium-sized business, in addition to the large telephone company groups. Signal Financial is currently the 17th largest credit union headquartered in Maryland, with more than 21,600 members and assets in excess of $406 million.

How the Winter Wow CD Special Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available within the FOM, Signal Financial Federal Credit Union's 24-month Winter Wow CD Special APY currently ranks second. The add-on feature and the one-time penalty free withdrawal only enhance the CD Special’s competitiveness.

The above rates are accurate as of 1/24/2019.

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

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

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