SECU of Maryland Raises Rates On 3- And 5-Year CDs


SECU of Maryland recently raised the rates on its 3-year CD (1.50% APY) and 5-year CD (2.25% APY). Either of these CDs can be opened with a $500 minimum deposit and there are no maximum balance caps. Both CDs are also offered as IRAs (Traditional) at the same rates, with the same funding requirements.

The Early Withdrawal Penalty, as stated on SECU’s Disclosure Page, is as follows:

The penalty is 365 days interest (earned or that would have been earned at the rate being paid on the deposit) on the total principal for 4 Year (48 month) and 5 Year (60month) CD terms.

The penalty is 90 days interest (earned or that would have been earned at the rate being paid on the deposit) on the total principal for all other CD terms.

2.10%$500-SECU5 Year CD
2.10%$500-SECU5 Year IRA (Traditional, Roth, CESA)
2.00%$500-SECU3 Year CD
2.00%$500-SECU3 Year IRA (Traditional, Roth, CESA)
Rates as of January 23, 2020.


While SECU’s name would suggest its field of membership is limited to state employees, there are several other ways to qualify for SECU membership. Eligibility is based on your affiliation (current or past) with a Maryland employer, agency or organization (such as a state university or labor union), or by being related to someone who is eligible.

Work - Employees of 950+ Maryland companies, as well as their immediate family members, are eligible.

School - Your association, current or past, with 36 different Maryland schools makes you eligible for SECU membership. Association includes full- or part-time students (even one class taken), faculty, alumni, employees, or former employees, as well as their family members.

State Agency - Your association, current or past, with 345+ Maryland state agencies or state funded organizations/entities makes you eligible for SECU membership. Association includes employees, former employees, and their family members.

Family - Anyone within the immediate family family of a SECU member, or the immediate family of someone who is eligible, can join SECU.

For complete details, please refer to "Find Your SECU Connection" page.

Joining SECU and opening a CD can be online, or by visiting any of 22 branches located in Annapolis (2), Baltimore (4), Bel Air, College Park (2), Columbia, Crofton, Derwood, Glen Burnie, Hagerstown, LaVale, Millersville, Owings Mills, Pasadena, Salisbury, Silver Spring, Timonium, and Towson.

Credit Union Overview

SECU of Maryland has an overall health grade of "A" at, with a Texas ratio of 7.82% (excellent) based on June 30, 2014 data. In the past year, SECU increased its total deposits by $68.82 Milion, and above average annual growth rate of 2.84%. Please refer to our financial overview of SECU for more details.

Established in October 1951 in a hallway of a Baltimore office building, SECU (NCUA Charter # 66330) had 33 members by the end of the first month and assets of $3,487. Appropriately, SECU’s first member was the State of Maryland's "first employee," Governor Theodore R. McKeldin. Within three months, SECU made its first loan ($180) and began its journey to becoming Maryland’s largest credit union. Today, SECU has 230,000+ members and assets in excess of $2.8 Billion.

How the CDs Compare

When compared to top similar length of term CDs tracked by, requiring a $500 minimum deposit and available to residents of Maryland, SECU's 3-year and 5-year CDs are competitive:

Interest Rate CD Length Institution
1.71% APY 35-month CD Special USAlliance Credit Union
1.60% APY 36-month CD First Technology Federal Credit Union
1.50% APY 3-year CD SECU of Maryland

Interest Rate CD Length Institution
2.32% APY 60-month CD Nationwide Bank
2.25% APY 5-year CD SECU of Maryland
2.15% APY 60-month CD State Farm Bank

These rates are accurate as of 11/17/2014.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.

Related Pages: CD rates, IRA rates

Anonymous   |     |   Comment #1
if you're a current member, the online application only allows upto a 3 year CD.  (I just tried funding using a credit card)  hope this might help someone
Anonymous   |     |   Comment #2
Hey there! You are right, we currently do not have the option to open a 5 year CD online. We decided against it because it was not a popular item at the time. We've forwarded your thoughts on though and have been told it will be a considered addition in the future! Thank you for your feedback!
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More Past Offers

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