Space Coast Credit Union Ups 12-Month CD To 2.68% APY


Deal Summary: 12-month CD, 2.68% APY; 12-month IRA, 3.19% APY; $500 minimum deposit.

Availability: Residents of 29 Florida counties.

As DA reader, crispydinosaur, noted in a Forum post about Space Coast Credit Union (SCCU),

With CD rates dropping unless willing to [commit to] a long term CD (5 year), it is nice to see that Space Coast once again steps up to the bat and does a 12 month CD with 2.68 % APR.

Not only has the rate on the 12-month CD been raised to 2.68% APY, the 12-month IRA CD (Traditional, Roth) now earns an impressive 3.19% APY. Either can be opened with a minimum $500 deposit, with no stated balance cap.

2.83%$500-Space Coast Credit Union12 Month IRA CD (Traditional, Roth)
2.32%$500-Space Coast Credit Union12 Month CD
Rates as of September 18, 2019.

As stated in the Account Disclosures brochure, the Early Withdrawal Penalty reads as follows:

We will impose a penalty if You withdraw any of the funds before the maturity date. The penalty imposed will equal,

180 days of interest for Accounts with a term between 12 and 24 months.

Long-Term CDs

Less than two weeks ago, I took a look at Space Coast Credit Union’s long-term CDs, which have remained competitive despite a recent lowering of rates. If you missed that blog post, here’s what those long-term rates look like.

2.88%$500-Space Coast Credit Union60 Month CD
2.78%$500-Space Coast Credit Union54 Month CD
2.73%$500-Space Coast Credit Union48 Month CD
Rates as of September 18, 2019.

And don’t forget about the IRA CDs offering APYs about 50 bps higher than the corresponding CDs.

3.39%$500-Space Coast Credit Union60 Month IRA CD (Traditional, Roth)
3.29%$500-Space Coast Credit Union54 Month IRA CD (Traditional, Roth)
3.24%$500-Space Coast Credit Union48 Month IRA CD (Traditional, Roth)
Rates as of September 18, 2019.


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 29 Florida counties eligible to join. (FYI – five counties have been added to the FOM and, as promised, the new SCCU membership application now includes all 29 eligible counties.)

Florida counties – Brevard, Broward, Clay, Collier, Duval, Flagler, Hillsborough, Indian River, Lake, Lee, Manatee, Marion, Martin, Miami-Dade, Monroe, Nassau, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, Seminole, St. Johns, St. Lucie, Sumter, or Volusia.

Family members of existing SCCU members also qualify for membership. "Family members" are defined as spouse, domestic partner, parent, child, sibling, grandparent, grandchild, aunt, uncle, niece, nephew, or cousin.

Joining SCCU can be done online, by phone (800.447.7228, option 3), or at any of the 65 Florida branches, located along the Atlantic coast from Palm Coast to Homestead.

The Share Savings Account is the required primary membership account that establishes you as an owner/member of SCCU. A total of $10 (initial $5 deposit and $5 membership fee) is required to open the Share Savings Account.

Opening a CD can be done by phone (800.447.7228) or at any of the above-mentioned full-service branch locations. I had hope the new and improved online application would include CDs, but only checking and savings account are listed.

Access your Space Coast Credit Union accounts with the CO-OP Shared Branch
network. 5,000 branches and over 2,000 self-service locations in all 50 states.

Credit Union Overview

Space Coast Credit Union has an overall health grade of "A+" at, with a Texas Ratio of 2.41% (excellent) based on March 31, 2019 data. In the past year, SCCU has increased its total non-brokered deposits by $226.43 million, an excellent annual growth rate of 6.37%. 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 become Florida’s third largest credit union, with more than 433,000 members and assets in excess of $4.4 billion.

How the CD Compares

When compared to 235 similar length-of-term CDs tracked by that are available within the FOM and require a similar minimum deposit, Space Coast Credit Union’s 12-month CD APY currently ranks second.

How the IRA CD Compares

When compared to 167 similar length-of-term IRAs tracked by that are available within the FOM and require a similar minimum deposit, Space Coast Credit Union’s 12-month IRA CD APY currently ranks first.

The above rates are accurate as of 8/6/2019.

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

Related Pages: Miami CD rates, Orlando CD rates, West Palm Beach CD rates, 1-year CD rates, 5-year CD rates

Ted   |     |   Comment #1
Space Coast has made it to this highlight board twice in so many the entire field of credit unions across the nation other credit union deals don't exist. Cmon Ken you can do better!
Anonymous   |     |   Comment #2
Regarding the IRA rate, if you are transferring an IRA from another institution to Space Coast, the rate you will get is whatever is in place once the funds are received/cleared at Space Coast - not the date you complete and date the IRA transfer form.
Anonymoose   |     |   Comment #3
This is what I hate about transferring IRA funds. With a direct transfer you have no control over when the funds will be received. You are at the mercy of the sending FI. And by the time the receiving FI gets the funds, the deal could be long gone and you could be ****ed with your money sitting there in limbo. I hate moving IRA funds. I guess the FIs make it so hard because they want you to hate moving it so you'll just leave it there with them and be stuck with whatever they give you.
Rates Lower
Rates Lower   |     |   Comment #4
All the posted rates above look to have fallen today. See link below (scroll down) for current rates:
Space Coast Credit Union (FL) 60-Month CD Earns 3.19% APY
Deal Summary: CDs – 48-month (3.03% APY), 54-month (3.09% APY), and 60-month (3.19% APY), $500 minimum deposit.

Availability: Residents of 29 Florida counties.

I’m not sure what’s more exasperating: rates that fall right after I’ve published a blog post or rates that fall just as I’m about to publish. This Space Coast Credit Union (SCCU) blog post is an example of the latter. The 60-month CD was earning 3.34% APY, but as of yesterday, the rate fell to 3.19% APY. While all of SCCU’s long-term...

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Excellent IRA CD Rates Up To 3.85% APY At Space Coast Credit Union
Deal Summary: IRA CDs – 12-month (3.03% APY), 18-month (3.09% APY), 24-month (3.29% APY), 30-month (3.34% APY), 36-month (3.49% APY), 42-month (3.55% APY), 48-month (3.70% APY), 54-month (3.75% APY), and 60-month (3.85% APY), $500 min deposit, in-branch opening only.

Availability: Residents of 24 Florida counties.

Tax Day is nearly upon us, but there’s still time to open an IRA CD and Space Coast Credit Union (SCCU) has some great rates. SCCU’s IRA CD rates are about 50 bps higher than its CD rates, transforming good longer-term CD rates...

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Space Coast Credit Union Has New 15-Month CD - EXPIRED
UPDATE 3/14/2019: The offer has ENDED.

Deal Summary: 15-month CD, 3.29% APY, $500 minimum deposit

Availability: Residents of 24 Florida counties.

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:

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Competitive Long-Term CD Rates at Space Coast Credit Union in Florida

Space Coast Credit Union has become one of the largest credit unions in Florida. For those looking for a competitive long-term CD rates, Space Coast Credit Union has a few good deals. The two best ones are a 5-year CD with a 2.17% APY and a 54-month CD with a 2.02% APY. These are also available as IRA CDs. Minimum deposit is $500. These rates are listed at the credit union CD rates page as of 10/11/2011. Slightly higher rates are possible with the credit union's members rewards program.

The size...

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2.68% Reward Checking Account at a South Florida CU (Eastern Financial Florida)
Update 11/09/09: The top yield has fallen to 2.68% APY. See bottom of the post for the rate history.

Eastern Financial Florida Credit Union is offering a reward checking account that pays 2.68% APY on balances up to $25,000 (0.50% for over) and refunds ATM fees (up to $20/month) if the following monthly requirements are met: 1) 12 debit card purchases, 2) one direct deposit or an electronic automatic transaction, and 3) receive e-statements. If these are not met, the rate falls to 0%. There are no monthly service charge. One...

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