For a limited time, Pennsylvania-based Sun East Federal Credit Union (Sun East) is offering a very competitive 11-month Jumbo Certificate Special (5.75% APY) and a competitive 11-month Certificate Special (5.50% APY). The 11-month Jumbo Certificate Special requires a minimum opening deposit of $100k of new money, which is defined as “not existing Sun East funds.” The 11-month Certificate Special does not require new money and can be opened with as little as $500.
Both Certificate Specials are available as IRA Certificate Specials (Traditional, Roth), offering the same APYs with the same deposit requirements.
Excess Share Insurance
Looking to deposit more than $250k, but concerned about deposit coverage at Sun East?
Deposits insured up to $500,000.
$250,000 by the National Credit Union Administration, a U.S. Government Agency, and $250,000 by ESI, a licensed property and casualty insurer.
Headquartered in Ashton in southeast Pennsylvania, Sun East Federal Credit Union expanded its field of membership (FOM) about four years ago. Now virtually any U.S. citizen/resident alien (18 years or older), with a valid Social Security number, can qualify for membership by joining the Sun East Charitable Foundation.
The Sun East Membership Page lists five different ways to “pre-qualify for membership.” The fifth option is “Pre-Qualify by Support.”
Support the Sun East Charitable Foundation. For a donation of only $10, you not only help worthy individuals and organizations in the greater Brandywine Valley, but you will also pre-qualify for a Sun East membership.
Joining Sun East Charitable Foundation and the credit union can be done simultaneously using the online application.
The other options to pre-qualify for membership include:
By Location: Residents of Nottingham, Oxford, and Philadelphia (Pennsylvania) or Newark and Wilmington (Delaware) qualify, with Zip Code being the final determinant.
By Family Member: Immediate family members (parent, child, spouse, sibling, grandparent, grandchild) of a current Sun East member are welcome to apply.
By Employer: Employees of more than 1,200 SEGs (drop-down menu available on membership page) also qualify for membership.
By Community: Individuals who worship, attend school, or volunteer in Nottingham, Oxford, and Philadelphia (Pennsylvania) or Newark and Wilmington (Delaware) are membership eligible.
Joining Sun East Federal Credit Union and/or opening an 11-month Certificate Special can be done online, or at any of six Pennsylvania branches located in Ashton, Boothwyn, Concordville, Nottingham, Springfield, and Upper Darby. There is also a branch in the Concord Gallery Shopping Center located in Wilmington, Delaware.
Already a member? Easily open a new certificate in Online Banking or the Mobile App by selecting “Add an Account/Product”; select your desired product and then follow the steps to add the new product.
Opening a Certificate Special can also be done by phone (877-5-SUNEAST, 877.578.6328).
When you join Sun East Federal Credit Union and deposit as little as $5, you become a member and shareholder of the credit union.
In addition to the branches located in southeast PA and north Delaware, Sun East is part of the,
CO-OP Shared Branching Network with nearly 30,000 surcharge-free branches and ATM locations nationwide.
Funding and Other Details
The following is from a conversation with two CSR, but I’m not 100% confident in the accuracy of the information. It shouldn’t take 20 minutes to find out what the EWP is. And you shouldn’t lecture me that a CD isn’t a checking account that I can withdraw funds from whenever I want. I ended the conversation at that point. When I called back later, I spoke with a different CSR who was as equally uninformed about CDs. There is a Depository Agreement and Disclosure document that contains pertinent information about CDs, but it can only be opened through Sun East’s online banking platform or mobile app. LSS, the following may or may not be true.
- Funding – ACH, wire ($10 fee), check, internal transfer, or Shared Branch transaction.
- CO-OP Shared Branch Participate – Yes.
- Ownership – Individual, joint, or trust.
- Early Withdrawal Penalty – 90 days dividends on the amount withdrawn; no partial withdrawals, only an early closure.
- Dividends – Compounded daily/credited monthly and cannot be withdrawn penalty-free.
- Maturing Funds – Automatically transferred to a Sun East savings account.
- Beneficiaries – Unlimited and percentages can be assigned; Social Security numbers are required for all beneficiaries.
- Grace Period – 10 calendar days before automatic renewal as a 12-month Certificate.
- Credit Check – Hard pull when joining Sun East.
Credit Union Overview
Sun East Federal Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 9.50% (excellent) based on March 31, 2023 data. In the past year, Sun East has increased its total non-brokered deposits by $41.76 million, an excellent annual growth rate of 5.72%. Please refer to our financial overview of Sun East Federal Credit Union (NCUA Charter #6160) for more details.
Founded in 1949 as the Sun Oil Marcus Hook Federal Credit Union, Sun East Federal Credit Union is currently Pennsylvania’s 16th largest credit union, with more than 52,000 members and assets in excess of $874 million. Along with five other southeast Pennsylvania credit unions, Sun East has partial ownership in First Heritage Mortgage Services.
First Heritage Mortgage Services, LLC is a credit union-owned company that offers seamless first mortgage solutions for credit unions and financial institutions nationwide. First Heritage supports and services more than 100 partner credit unions with combined assets of more than $10 billion. Founded in 1984, First Heritage’s owners include American Heritage Credit Union, Service 1st Federal Credit Union, Erie Federal Credit Union, People First Federal Credit Union, Sun East Federal Credit Union, and Lebanon Federal Credit Union.
How the 11-Month Jumbo Certificate Special Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available nationwide, no banks or credit unions have a higher rate than currently offered on the Sun East Federal Credit Union 11-Month Certificate Special, regardless of minimum deposit requirement. The following table compares the 11-Month Jumbo Certificate Special 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 8/1/2023.
To search for the best CD rates, both nationwide and state-specific, please refer to our CD rates table page.