Skyla Credit Union Ups 18-Month Senior Jumbo CD Rate


Deal Summary: 18-month Senior Jumbo Share Certificate, 5.70% APY, $50k minimum. 18-month Senior Share Certificate, 5.45% APY, $500 minimum. 3-year Jumbo Share Certificate, 5.20% APY, $50k minimum.

Availability: Easy membership requirement.

Skyla Credit Union (Skyla) has raised the rate on its 18-month Senior Jumbo Share Certificate and 18-month Senior Share Certificate. Following increases of 25 bps, the 18-month Senior Jumbo Share Certificate currently offers 5.70% APY ($100k minimum), with the 18-month Senior Share Certificate earning 5.45% APY ($500 minimum). While the Senior Share and Jumbo Share Certificates are only available to members age 50 years or older, members of any age can open a non-Senior Certificate.

The current APY is the highest rate for the 18-month Share Certificates since DA began tracking Skyla rates in late 2011.

The 3-year Jumbo Share Certificate (available to all members) also added 25 bps, pushing the rate up to 5.20% APY. The minimum opening deposit is $50k, with no stated balance cap.

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

The amount of the early withdrawal penalty is based on the term of your account.

The penalty schedule is as follows:

    365 days or less – 1% of principal; more than 365 days – 2% of principal.

Excess Share Insurance (ESI)

As stated on the Insured Savings page,

In addition to the $250,000 coverage provided by NCUA, Skyla members with higher deposits have an additional $250,000 deposit insurance through Excess Share Insurance Corporation (ESI) - the nation’s largest provider of deposit insurance for credit union consumers with balances in excess of the basic $250,000 NCUA provided insurance. This means your deposits are insured up to $500,000!


Headquartered in Charlotte, North Carolina, Skyla Credit Union’s field of membership (FOM) is open to all U.S. citizens/resident aliens through membership in the American Consumer Council. As stated on the Skyla membership online application, “For a limited time, Skyla Credit Union will cover the $5 minimum deposit required to open an account!”

There are three other ways to qualify for Skyla membership:

Residency: Individuals who live in the North Carolina counties of Cabarrus, Gaston, Iredell, Lincoln, Mecklenburg, Rowan, or Union, or the South Carolina counties of Chester, Lancaster, or York are eligible to join.

Employment: Employees, retirees, and pensioners of Parsons Corporation, Worley Corporation, or Parsons Complex Tenants who work in Pasadena (California) qualify for membership.

Relationship: Immediate family members of a current Skyla member are welcome to apply.

Account Opening

Joining Skyla and/or opening any type of Certificate can be done online (there is a “Start Here” at the top of each page of the Skyla website) or at any of nine North Carolina branches located in Asheville, Belmont, Charlotte (7), Graham, Greensboro, Harrisburg, Huntersville, Kings Mountain, Matthews, Salisbury, or Spindale. Skyla also has full-service branches in Pasadena, California, Rock Hill, South Carolina, and Centreville, Virginia.

A $5 minimum deposit into a Share Savings account establishes a Skyla membership.

Current Skyla members can also opening a Certificate by logging into the Digital Banking platform and selecting “Open an Account” listed under the Accounts tab.

Funding and Other Details

The following information is from a conversation with CSR.

  • Funding – ACH, wire ($10 fee), check, shared branch transaction.
  • CO-OP Shared Branch Participant – Yes.
  • Ownership – Individual, joint, or trust.
  • Dividends – Compounded/credited monthly and can be transferred to a Share Savings account penalty-free.
  • Maturing Funds – Internal transfer to a Share Savings account.
  • Beneficiaries – Unlimited, with equal shares; Social Security numbers are required.
  • Grace Period – 5 calendar days before automatic renewal. Disposition of maturing funds can be designated at account opening to avoid automatic renewal
  • Credit Check – ChexSystems.

Credit Union Overview

Skyla Credit Union has an overall health grade of "A" at, with a Texas Ratio of 3.62% (excellent) based on June 30, 2023 data. In the past year, Skyla has increased its total non-brokered deposits by $307.22 million, an excellent annual growth rate of 31.63%. Please refer to our financial overview of Skyla Credit Union (NCUA Charter # 24808) for more details.

Established in 1962, Skyla Credit Union was originally known as the Charlotte City Employees Credit Union, serving the City of Charlotte employees. Following three name change, several FOM expansions, and the recent merger with California-based Parsons Federal Credit Union, Skyla is currently the eighth largest credit union head quartered in North Carolina (and the 307th largest credit union in the country), with more than 105,000 members and assets in excess of $1.4 billion.

According to a December 2022 CUTimes article,

Officials with Skyla said in a statement Dec. 6 that the merger of Parsons with Skyla will be the first expansion of “its footprint beyond the Carolinas region to service members nationally.”

According to Skyla, the Parsons merger will be effective Jan. 1, 2023 and a complete conversion of Parsons’ member data will finish in August 2023.

As of January 1, 2023, Skyla Credit Union and Parsons Federal Credit Union have been operating as a single legal entity using the Skyla Credit Union name.

How the 18-Month Senior Jumbo Certificate Compares

When compared to similar length-of-term CDs tracked by that are available nationwide and have minimum deposit requirements of $50k or less, two credit unions have higher rates than currently offered on the Skyla Credit Union 18-Month Senior Jumbo Certificate. The following table compares the 18-Month Senior Jumbo Certificate to the two highest-rate CDs from banks and the two highest-rate CDs from other credit unions.

The above information and rates are accurate as of 10/16/2023.

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

Related Pages: Washington CD rates, Charlotte CD rates, Greensboro CD rates, Greenville CD rates, Los Angeles CD rates, 1-year CD rates, 5-year CD rates, nationwide deals

  |     |   Comment #1
just to get a Membership and Purchase Member Share
Credit Report Inquiry – Equifax(hard pull)
in addition to
Consumer Report Inquiry - (hard pull)
  |     |   Comment #2
Hard pull nothing to be afraid of. I get 3-4 a year, and still have an 800+ credit score. No biggie.
  |     |   Comment #4
Finally, we learned what is biggie and credit score of undisclosed rating agency.
Next for some LovingCDsLadder to learn how Skyla pulls for every Cd Account in the ladder and report back final Credit and Consumer score.
Incidentally, I challenged Skyla to revoke Equifax Inquiry where it could not process the application because of ChexS freeze. I would not reveal any of my credit scores since it is irrelevant to most.
Charlotte Metro Credit Union Ups All 18-Month CDs To 3.00% APY
Deal Summary: 18-month Share Certificate, 3.00% APY, $2k minimum. 3-year Jumbo Share Certificate, 3.00% APY, $50k minimum.

Availability: Residents of seven North Carolina and three South Carolina counties.

Charlotte Metro Credit Union (CMCU) has raised the rates on all four of its 18-month Share Certificates to 3.00% APY. Each of the four 18-month Share Certificates require a different minimum deposit: Share Certificate ($2k), Senior Share Certificate ($5k), Jumbo Share Certificate ($50k) and Jumbo Senior Share Certificate ($100k). While the Senior Share and Jumbo Share Certificates...

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Charlotte Metro Credit Union 3-Year Jumbo CD Earns 3.00% APY
Deal Summary: 3-year Jumbo Share Certificate, 3.00% APY, $50k minimum. 18-month Senior Jumbo Share Certificate, 2.75% APY, $100k minimum.

Availability: Residents of seven North Carolina and three South Carolina counties.

More than a year ago, Charlotte Metro Credit Union (CMCU) raised the rates on 3-year Jumbo Share Certificate (3.00% APY, $50k min) and 18-month Senior Jumbo Share Certificate (2.75% APY, $100k min), and those APYs are still in effect today. Note: the Senior Jumbo Share Certificate is only available to members who are age 50...

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