SkyOne Federal Credit Union Offers Top-Rate 22-Month CD Special


Deal Summary: 22-month Share Certificate, 5.00% APY, one penalty-free withdrawal, one-time additional deposit, one-time 25bps rate bump, $1k minimum deposit.

Availability: Easy membership requirement

DA readers may have read about the SkyOne Federal Credit Union (SkyOne) 22-month High Yield CD (5.00% APY) that is offered on the SaveBetter platform. In somewhat of an unusual move, SkyOne is also offering a 22-month Share Certificate (5.00% APY, $1k minimum deposit) on its website, with no connection to SaveBetter. Here's the link to the promotion's landing page.

In addition to the very competitive rate, the 22-month Share Certificate also offers a partial penalty-free withdrawal, one limited add-on deposit, and a one-time 25 bps rate increase. As stated in the Truth-in-Savings disclosure,

The 22-month promotional certificate account allows for a penalty-free one-time withdrawal up to 50% of initial deposit at any time during the share term. Withdrawals exceeding 50% of the initial deposit are subject to early withdrawals penalties.

If your 22-month promotional certificate account has been opened for nine (9) full months, you have the option to make a one-time deposit up to 50% of the initial deposit amount to receive a one-time 0.25% rate bump-up for the remainder of the original term.

What’s not clear is if the 25bps rate bump-up applies to the entire balance or just to the one-time deposit. I called SkyOne for clarification, but was on hold for more than hour before my call was disconnected. I called SkyOne again, requested a call-back, but no one has contacted me yet.

Early Withdrawal Penalty and Other Particulars

  • Early Withdrawal Penalty – after one penalty-free withdrawal, 180 days on the full deposit amount; early closure only, no partial withdrawals.
  • Funding – ACH, wire transfer, check, or internal transfer.
  • CO-OP Shared Branch Network – Yes.
  • Maturing Funds – check to address on file or transferred to a SkyOne savings or checking account.
  • Dividends – compounded/credited to the Certificate quarterly; can opt for monthly dividends, with automatic transfer to a SkyOne savings or checking account each month.
  • Grace Period – 7 calendar days before renewal to a 24-month term and rate.
  • Beneficiaries – unlimited, equal shares, Social Security numbers required.


Headquartered in Hawthorne, California, SkyOne Federal Credit Union’s field of membership (FOM) expanded more than three years ago, making virtually all U.S. citizens/resident aliens eligible for membership.

That being said, it’s not easy finding information about the membership requirements on the SkyOne website. The Our History page states the FOM was expanded in April 2019 to include “those who live, work, worship, go to school, or conduct business regularly near our Main Office in Hawthorne, CA,” but there’s no explanation of the easy membership requirement (EMR).

A previous search for “membership” on the SkyOne website, produced the following:

Why have membership eligibility requirements changed?

    The NCUA has approved SkyOne to add Friends of Madrona Marsh (FOMM) and Surfrider Foundation to our Field of Membership! This means that anyone can now join SkyOne.

While that explanation is no longer on the website, a search for “join” brings up the following:

Choose any one of the organizations we’re partnered with when opening an account with us and we’ll pay your membership dues for that organization.

Next to that statement is a picture of the logos of six partner organizations, which includes the Surfrider Foundation, Friends of Madrona Marsh, Women in Aviation International, California State PTA, Federal Aviation Administration, and National Black Coalition of Federal Aviation Employees.

Note: organization membership dues are reimbursed only for the first year and it is the new SkyOne member’s responsibility to “contact our member service department with relevant information" to obtain reimbursement.

Other routes to membership include:

  • being an employee/member of any of 12 Select Employer Groups (listed on the online application)
  • being a family member of or live with a current SkyOne member.

Joining SkyOne and/or opening a 22-month Share Certificate can be done online (there’s a “Become A Member” button on the top of every SkyOne website page) or at either of two full-service California branches, located in El Segundo and Hawthorne.

The Membership Application is also available as a download, which can be returned by snail-mail or in-person.

Opening a Regular Savings Account with a minimum $5 deposit establishes a SkyOne Membership.

Join today using promo code JOIN and we’ll put $25 in your pocket!

To receive $25 account opening bonus, you must open account online using promo code JOIN, deposit your par share value of $5 into a Primary Savings Account, and deposit the minimum opening balance amount of $5. The $25 cash bonus will be deposited into SkyOne Primary Savings account within 10 business days of the referral criteria being met. Offer subject to change without notice and may end at any time.

In addition to participating in the CO-OP Shared Branch and ATM networks, SkyOne is a member of the Allpoint and STARsf ATM networks.

SkyOne is part of a nationwide network of credit unions that share their services, so you can manage your account wherever you go. You also have access to over 66,000 surcharge-free ATMs with the CO-OP, Allpoint, and STARsf Networks.

Credit Union Overview

SkyOne Federal Credit Union has an overall health grade of "C+" at, with a Texas Ratio of 28.30% (average) based on June 30, 2022 data. In the past year, SkyOne has increased its total non-brokered deposits by $61.85 million, an excellent annual growth rate of 11.48%. Please refer to our financial overview of SkyOne Federal Credit Union (NCUA Charter # 6248) for more details.

Established in 1949 as the CAA Region 6 Federal Credit Union, the original FOM included Civil Aeronautics Administration employees living in the Western states. At the end of the first year, there were 200 members and assets of $19,887. There have been three name changes, with the SkyOne rebrand occurring in 2010, to “better reflect our field of membership at the time — the nationwide air transportation industry.” SkyOne is currently 77th largest credit union headquartered in California, with more than 52,000 members and assets in excess of $715 million.

How the 22-Month Share Certificate Compares

When compared to the similar length-of-term CDs tracked by that are available nationwide and have minimum deposit requirements of $10k or less, no banks or credit unions have higher rates than currently offered on the SkyOne Federal Credit Union 22-Month Share Certificate. The following table compares the 22-Month Certificate to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 11/15/2022.

To search for the best CD rates, both nationwide and state specific, please refer to our CD rates table page.

Related Pages: Los Angeles CD rates, 5-year CD rates, nationwide deals

  |     |   Comment #1
My only concern about this deal is the C+ Health rating. Anyone else have any opinions about this?
  |     |   Comment #9
GratitudeCD: Weiss Ratings--which is more stringent than DA bank ratings, gives SkyOne a "C" grade--which affirms their weak financial stability. So, yes, I share your concern.
  |     |   Comment #22
C is better than a D and F+. But that's about all I got for ya.
  |     |   Comment #24
And D is better than F+. What is this suppose to convey?
  |     |   Comment #36
C+ isn’t bad. It’s just not great. They’re plenty stable and I haven’t seen a better rate, term, and perks.
  |     |   Comment #55
STAY AWAY from these deceptive, lying people. Geting your $$ back is a difficult and deceptive process. MANY unanswered emails & online banking messages going back several months. RECORD your phone conversations for eveidence if the complaint you will be filing in the future as I am currently doing. This is most likely the reason they do not reply to emails and messaging --they don't want printed evidence.
  |     |   Comment #2
It does appear this is a very weak credit union compared to most others.
  |     |   Comment #3
Not to disagree but it has been around for awhile…perhaps it’s looking to be bought out and needs additional deposits…but why not continued use of so-called platform?
  |     |   Comment #51
There's no risk of losing your money at SkyOne. They've been around since 1949, plus they are federally insured by the NCUA. As long as the USA is around, your money is safe at SkyOne. The 5% is still available and is hard to find elsewhere, but they could shut it down anytime. The disclosure shows it's good till the end of December, but they also say " subject to change without notice."
  |     |   Comment #56
Maybe not lose your money ..AND THAT'S A BIG MAYBE......but getting ot back is difficult and drawn out. Be prepared to hear them tell how sorry they are and that they understand your frustartion and that really will do anything (honesty not one of them) to keep you as a member. Very deceptive ! THE WORST credit union I have been a member of in decades.
  |     |   Comment #4
I posted about this in the user forum recently, if you get the cd thru them directly it's more flexible, but just keep in mind they're not bank of america. I'm a member of SkyOne, and they are a very small local credit union. The same question asked to different people sometimes gets different answers, I've also seen it take 2 full weeks for deposits to become available, which to me seems kind of long. And if I remember right I think it's a hard check on your credit when you join, though I don't know if this is still the case. Their branch is pretty unique too--nice and modern but when you walk up to it, the door is locked, and you either scan the posted QR code or ring to let them know you're there, then they'll buzz you in when they're ready for you. Employees are always super nice, even if answers can sometimes change with who you ask. Still, I like them. I just don't know if it's worth it to those out of the area, but that's up to you I guess. The terms of the cd are good, though it would be nice if it was a longer length. As far as their health, I didn't know it was a C+, hopefully they'll be okay. By the way the credit union also does business accounts and Coogan accounts (for child hollywood actors) which not a lot of credit unions do.
  |     |   Comment #5
ps, I do like SkyOne. Even though they are small they try their best to help. They also offer a lot of services for little credit union!

Their current 22 month cd is more flexible if you join and become a credit union member, but if not you can still get the same 5% apy thru save better. Either way I think it's a good deal.
  |     |   Comment #11
1. Hard pull just for applying to join (Istill on my credit report many months later giving me trouble.) . 2. Those out of the area need not bother (I am retired from being a banking/CU regulator and did all the steps properly only to be told to drive several hundred miles to the HQ for membership validation.)
  |     |   Comment #26
SkyOne is working hard to eliminate barriers, like you mentioned, planxy. You won't have to drive hundreds of miles to join, and there isn't a hard pull on your credit.

Regarding the C+ rating, that's new. SkyOne has been A- for many years. I don't know why the downgrade, but they are strong and have been around for over 70 years. They're not trying to be bought or merge, they're just trying to grow.

I haven't seen a 5% rate like this one. You have flexibility, too. If you need the money, you can withdraw 1/2 during the term of the CD. And if you want to add more, you get a .25% rate bump on the total balance, making it 5.25%! Has anyone seen a 5.25% rate anywhere? I haven't.

It might be a bit of work, and it might take time, but I haven't seen better yet. You can keep on looking or sign up and start earning more. It's up to you.
  |     |   Comment #38
I called and they said no credit check but the rep may be wrong? When did you apply?
  |     |   Comment #50
Applied late 2021. Hard inquiry is still on my credit report when I looked last month. So a large part in American Express denying me any card because "there were too many credit applications in 2-year period." I remember the must come in to see a bank officer message very clearly as it was new to me to ever get anything like it.
  |     |   Comment #6
Several reviews indicate that SkyOne does a hard credit pull on a CD opening which is not acceptable for a savings product. Also, their Weiss bank rating is only "C"--which is even lower than the DA rating. I like the rates--but would rather sacrifice a few basis points to do business with a better financial institution.
  |     |   Comment #15
Is it a hard pull if you are already a member?
  |     |   Comment #21
Good question for member services. I haven't seen any reviews that address your particular question.
  |     |   Comment #28
SkyOne only does a hard pull if you apply for credit, like a credit card or auto loan. And they don't do any credit pull (soft or hard) if you're already a member. Just log into online banking, click "Open/Apply," click "Checking/Savings," scroll to "Certificate Account" and click "Apply Now." You'll be directed to the application page. Select the 22-Month certificate and go from there. It's quite easy.
  |     |   Comment #27
SkyOne does NOT do a hard pull for opening an account unless you apply for credit, like an auto loan or credit card.
  |     |   Comment #7
Weak financials, practically impossible to speak to anyone, and different answers every time you do. Sounds like a recipe for regret.
  |     |   Comment #57
AGREED ...also VERY deceptive and they simply REFUSE to answer emails and online banking messages. Leads me to believe they do not want printed evidence available for complaints. I have been lied to (recorded) and have no trust with them anymore. Now for the complaint process with the proper government agencies.
  |     |   Comment #8
I would stay away from this one… if you are a large depositor to risky or a small depositor it’s not really worth the effort.
  |     |   Comment #10
Aside from all the other cautions listed in comments above, it might also be noted that this CD is “neither fish nor fowl” as the old saying goes. It's “kind of” a 50% 1-time no-penalty CD, and “kind of” a 50% add-on CD under certain conditions, and a bump-up CD - maybe, in part. According to the article. They've partially hedged in so many directions that I'm not completely sure how it would fit into anyone's portfolio, including mine.
  |     |   Comment #12
The way I see it, giving the customer multiple options is a good thing, not a bad thing. You could just do nothing and have it be a normal CD if you want, but having various other options is a good thing. More choices are always better (except with cable TV channels!)
  |     |   Comment #13
I just checked the credit union's web site and the best/highest APY is like 2.6% for a 5 year CD.Am I missing something?
Ken Tumin
  |     |   Comment #14
The 5% Special is mentioned on SkyOne's home page with details on a special landing page. I've added the link in the post to this landing page. Since SkyOne isn't a large credit union, I wouldn't be surprised if this Special doesn't last long.
  |     |   Comment #16
Reading the info, two things...
(1) What does 9 "full" months mean? Say someone opens a CD today (Nov 16th), would it be 9 full months from Nov 16th? Or by "full" months does it not count the rest of November, and start the clock on Dec 1st? ("full month")
(2) Grace period is mighty short: 7 calendar days. That's 5 business days.

By the way, it says not available for an IRA.
  |     |   Comment #17
I would stay away from this offer from this type of credit union connected to savebetter whatever they are trying to establish as I think they are trying to be a middleman to pick up money that you should get.. Not a good deal ??
  |     |   Comment #18
It's a very good offer but not worth a Hard Pull!
  |     |   Comment #29
SkyOne does not do a hard pull unless you apply for a credit card or auto loan.
  |     |   Comment #19
I filled out application and got to funding and there is a 12K limit on bank transfers.
  |     |   Comment #20
Gkwpnut - “...there is a 12K limit on bank transfers.” What do they mean by this? A 12K limit on bank transfers initiated from SkyOne? Or, a 12K limit on bank transfers initiated from SkyOne OR bank transfers initiated from the other financial institution? (The latter is very unusual, but is quite possible to implement.)

I'm considering reassessing my view of these guys based upon other recent (macroeconomic) data...
  |     |   Comment #25
Regarding the 25 basis point bump and whether it applies to only the additional money or the entire balance, the 25 basis point bump applies to the entire account balance. I haven't seen anything as good as this rate and special offer yet. Certificate rates aren't likely to go up anymore at this point. Taking this offer is a smart choice.
  |     |   Comment #30
22 months is not long enough.
  |     |   Comment #35
It’s a good length of time. Show me a better rate at a longer term and I’ll agree:-).
  |     |   Comment #37
I know. Why not at least make it 24 months? Even 48 months is better.
  |     |   Comment #41
Whether 22 months is too short or too long is subjective. Maybe someone would rather have a shorter rate.
  |     |   Comment #33
Is anyone still monitoring DA for posts reported as blatant spam?
  |     |   Comment #34
Racecar guess that'd be a NO I reported it the other day
  |     |   Comment #39
How do you fund it for more than the 12k max?
  |     |   Comment #40
You can add funds thru a wire transfer, I think. 
  |     |   Comment #42
Does anyone know if we can do multiple certificates for $12,000 each by ach? Also, Is there a limit on number of these we can open and is the $12,000 a daily limit?
  |     |   Comment #43
Nothing in the Terms & Disclosures that states only one CD per member.
But I'd wager they aren't going to allow you to make 10-20 separate $12,000 ACH transactions in a single day to fund 10-20 Certificates, if that's what you're attempting.

I did just send them a secure message though, asking if they can raise my mobile deposit limit for this in order to save me a trip to the Shared Branch.
I'll keep you posted.
  |     |   Comment #45
Just pay to wire the fee or use a bank like as an intermediary for ACH. Ally lets you transfer out $150,000 per day with a max of $600K per month via regular ACH.
  |     |   Comment #44
I received a text several days ago saying "welcome to skyone" and telling me to check my email later for details but have not heard jack from them since then. So far not impressed.
  |     |   Comment #47
My application worked the same way.
They likely separate the initial processing from the marketing people; who can give you “access to a range of tools tailored to your financial needs”.
I’m sure the group processing applications are inundated.

Just go online and register for online banking….boom you’ll probably find you’re in-like-Flint.
  |     |   Comment #49
100% correct, RichReg! You can sign up for the basic savings account, register for online banking, and then open the 5% Certificate. Set up ach transfers from other accounts and transfer the funds, and viola! You’re making 5% on your $. You can do it!
  |     |   Comment #48
Old Guy with old Land Line and wary of brain fry from cell phone
equals no text = no email?
  |     |   Comment #46
Saw that today (Sunday) SkyOne took out a large half-page ad here in the LA Times, advertising their 5% 22 mo cd with flexible terms, so I guess they really do want deposits. Surprised to see the large ad in today's LA Times (in the Weekend section).

As far as someone's question about the 12k limit online, if you want more you can just open up a membership for the time being, then later put the amount you want in your savings account and call them to open up the cd over the phone for more than 12k. Like any place they could stop the cd offer at any time, but right now their page says it will be offered thru Dec 31st and just today they paid for an ad in the LA Times advertising it, so you'll probably be okay waiting a couple days to get the membership first then send money to your savings to get the cd later for the amount you want.

Famewolf: Just call them up and speak to a rep over the phone tomorrow, they can give you your member number and info if the account's been created like the text said, even without an email. If they are busy it might be because of the ad in today's paper but call them and ask for your account info. If you got the text then the account was created, just call them for the info
  |     |   Comment #52
22-month Share Certificate no longer offered
15-month Share Certificate still going
  |     |   Comment #53
Considering where rates may be when this matures, is anyone considering doing the early withdrawal now and trying to lock up funds for longer?
  |     |   Comment #54
I took the early withdrawal this year; back in late March & managed to fund the Credit Human 5.5% with it. Wasn't much better and longer than that back then. Also hadn't invested as much as usual with SkyOne in the first place.

Anyone else do the bump-up to 5.25%? (I added $1 last month).
Nine month waiting period should've elapsed for most by now...
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Availability: Easy membership requirement

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