Stamford Federal Credit Union (Stamford FCU) started February by adding 150 bps to its 18-month Share Certificate, giving it an impressive 2.50% APY. The minimum opening deposit is $1k, with no stated balance cap.
The 18-month Share Certificate is also available as an IRA (Traditional, Roth, CESA) with the same funding requirements, but at a slightly higher rate (2.55% APY).
As stated in the fine print on the Savings Rate page, the Early Withdrawal Penalty reads as follows:
3 month and 6 month certificates -- 30 days dividends
All other certificates -- 90 days dividends
According to CSR, only early closures are allowed – no partial withdrawals.
Headquartered in Stamford, Connecticut, Stamford Federal Credit Union’s field of membership (FOM) is residency-based, with individuals who live, work, worship, attend school, or volunteer in 15 Fairfield County communities eligible for membership.
Those communities include Bridgeport, Darien, Easton, Fairfield, Greenwich, Monroe, New Canaan, Norwalk, Shelton, Stamford, Stratford, Trumbull, Weston, Westport, and Wilton.
Immediate family members of any membership-eligible individuals are also welcome to apply. Immediate family is defined as “parents, grandparents, siblings, spouse, children and members of your household.”
Joining Stamford FCU and/or opening a Share Certificate must be done at the sole Connecticut branch located in Stamford on Washington Boulevard. The Membership Application is also available as a download to facilitate the application process.
Establishing a Stamford FCU membership requires a minimum $25 deposit in a Regular Share Savings account.
Credit Union Overview
Stamford Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.54% (excellent) based on September 30, 2019 data. In the past year, Stamford FCU has increased its total non-brokered deposits by $6.61 million, an excellent annual growth rate of 12.66%. Please refer to our financial overview of Stamford Federal Credit Union (NCUA Charter # 24705) for more details.
Established in 1952, Stamford Federal Credit Union’s original FOM included the City of Stamford employees and their families. The FOM was expanded to include the residents of southern Fairfield County in 2013. Stamford FCU is currently the 24th largest credit union in Connecticut, with nearly 5,800 members and assets in excess of $66 million.
How the Share Certificate Compares
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Stamford Federal Credit Union's 18-month Share Certificate APY currently ranks first.
The above rates are accurate as of 2/13/2020.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table.