Maryland-based Signal Financial Federal Credit Union (Signal Financial) has been offering the same rates on its 72-month (3.35% APY) and 60-month (3.10% APY) Share Certificates for several months. Signal Financial Share Certificates can be opened with a minimum deposit of $500, with no stated balance cap.
These rates have gained an competitive edge while remaining static for two reasons: the current rates climate is generally on a downward path and Signal Financial now offers the following three features on all its Share Certificates.
- Additional Deposits – unlimited number of deposits throughout the term, with no dollar amount restrictions. Deposits can be done in-branch or over the phone with a Member Services Rep.
- 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the one penalty-free withdrawal are subject to an Early Withdrawal Penalty of 182 days dividends on the amount being withdrawn.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 – Extend the term by six months or more at the prevailing rate.
Headquartered in Kensington, Maryland, Signal Financial’s 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 stated 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 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.
A $5 deposit into a shareholder account establishes a Signal Financial membership.
Signal Financial participates in the CO-OP Shared Branch/ATM network and the Allpoint ATM network.
The Allpoint network includes over 55,000 ATMs in the U.S. and Puerto Rico, and in several other countries, such as Canada, Mexico, Australia, and the U.K., at retailers such as Target, Costco, Walgreens, Kroger, Safeway, Winn-Dixie, Circle K, CVS.
Credit Union Overview
Signal Financial Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 6.15% (excellent) based on March 31, 2019 data. In the past year, Signal Financial has increased its total non-brokered deposits by $5.73 million, an above average annual growth rate of 1.8%. Please refer to our financial overview of Signal Financial Federal Credi7t 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 16th largest credit union headquartered in Maryland, with more than 22,000 members and assets in excess of $402 million.
How the Share Certificate 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 72-month Share Certificate APY currently ranks first. The add-on feature and the one-time penalty free withdrawal only increases the Share Certificate’s intrinsic value.
The above rates are accurate as of 6/10/2019.
To look for the best CD rates, both nationwide and state specific, please refer to DA’s CD Rates Table, page.