Signal Financial Federal Credit Union (Signal Financial) has recently increased the rate on its 60-month Share Certificate (2.16% APY). The minimum opening deposit is $500, with no stated balance cap.
|2.16%||$500||-||Signal Financial Federal Credit Union||60 Month CD Special|
According to Signal Financial’s Rates and Disclosures page, this is a limited-time promotional rate that expires on September 30, 2016.
The information concerning the Early Withdrawal Penalty for the promotional rate 60-month Share Certificate seems to be contradictory:
A penalty of 24 months (730 days) of dividends applies for early withdrawal.
Partial withdrawals are prohibited.
According to CSR, the only early withdrawal of funds allowed is a closure of the Share Certificate before maturity.
Headquartered in Kensington, Maryland, Signal Financial Federal Credit Union offers membership to virtually everyone:
Easy Membership: Membership in the Washington Area Bicyclist Association (WABA) qualifies for Signal Financial membership. (Joining WABA prior to applying for Signal Financial membership is required.)
Residency: Individuals who live, work, worship, or attend school in Washington, D.C. or inside the Beltway in Prince George’s County (Maryland) are eligible to join.
Select Employee Groups: Any employee, pensioner, annuitant, or member of the 200+ Select Employee Groups (including Verizon, Verizon Wireless, and AT&T) is eligible.
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 eight branches located in Washington, D.C. (3), Northern Virginia (2), and Maryland (3), or by mail (all necessary paperwork can be requested by calling 301.933.9100, ext. 298).
Credit Union Overview
Signal Financial Federal Credit Union (NCUA Charter # 5571) has an overall health grade of "B+" at DepositAccounts.com, with a Texas ratio of 8.97% (excellent) based on March 31, 2016 data. In the past year, Signal Financial has increased its total deposits by $6.16 million, an above average annual growth rate of 2.14%. Please refer to our financial overview of Signal Financial Federal Credit Union for more details.
In September 1947, the Washington Telephone Federal Credit Union (WTFCU) was officially chartered. In the past 65 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 field of membership expansion, to include more than 150 small to medium-sized business in addition to the large telephone company groups.
How the CD Compares
When compared to the 125 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available nationally, Signal Financial Federal Credit Union's 60-month Share Certificate currently ranks fourth.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|2.32% APY||5-Year Share Certificate Special||Melrose Credit Union|
|2.30% APY||60-Month CD||Mountain America Credit Union|
|2.16% APY||60-Month Share Certificate||Signal Financial Federal Credit Union|
The above rates are accurate as of 7/20/2016.