Space Coast Credit Union (SCCU) is currently promoting a 15-month CD, which earns 3.29% APY. The minimum opening deposit is $500, with no stated balance cap.
The 15-month CD is the most competitive CD in the product line, with an APY that equals that of SCCU’s 60-month CD.
As stated in the Account Disclosures brochure, the Early Withdrawal Penalty reads as follows:
180 days of interest for Accounts with a term between 12 and 24 months
There is a 10-day grace period before the 15-month CD converts to a 12-month CD at the prevailing rate.
Headquartered in Melbourne, Florida, Space Coast Credit Union’s field of membership (FOM) is residency based, with individuals who live or work in any of the following 24 Florida counties eligible to join.
Florida counties – Brevard, Broward, Collier, Flagler, Indian River, Lake, Lee, Manatee, Marion, Martin, Miami-Dade, Monroe, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Polk, Putnam, Seminole, St. Johns, St. Lucie, Sumter, or Volusia.
Family members of existing SCCU members also qualify for membership. "Family members" is defined as spouse, domestic partner, parent, child, sibling, grandparent, grandchild, aunt, uncle, niece, nephew, or cousin.
While opening CD cannot be done online per se, SCCU does have a “New Account Consultation” form to provide “assistance with choosing the right account for me.” Opening a CD can be done at any of the above mentioned full-service branch locations.
Credit Union Overview
Space Coast Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.62% (excellent) based on September 30, 2018 data. In the past year, SCCU has increased its total deposits by $158.53 million, an excellent annual growth rate of 4.68%. Please refer to our financial overview of Space Coast Credit Union (NCUA Charter # 67297) for more details.
Space Coast Credit Union was founded in 1951 as the Patrick Air Force Base Credit Union, serving the military personnel stationed at the base. (FYI – Patrick AFB is currently home to the 45th Space Wing, which commands the Cape Canaveral Air Force Station.) In 68 years, SCCU has grown from a fledgling credit union with seven members and $372 in assets to Florida’s third largest credit union, with more than 421,000 members and assets in excess of $4.2 billion.
How the CD Compares
When compared to 198 similar length-of-term CDs tracked by DepositAccounts.com that are available with the FOM and require a similar minimum deposit, Space Coast Credit Union’s 15-month CD APY currently ranks first.
The above rates are accurate as of 2/20/2019.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.