Suncoast CU's (FL) Long-Term CDs Remain Competitive

POSTED ON BY

Availability: Florida counties of Citrus, Charlotte, Desoto, Collier, Dixie, Gilchrist, Glades, Hardee, Hendry, Hernando, Hillsborough, Highlands, Levy, Lee, Manatee, Marion, Pascoe, Pinellas, Polk, Sarasota, and Sumter.

Suncoast Credit Union (Suncoast CU) is offering two competitive long-term CDs: 48-month Share Certificate (2.00% APY), and 60-month Share Certificate (2.25% APY). Both require a $500 minimum deposit, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.00%$500-Suncoast Credit Union60 Month CD
1.75%$500-Suncoast Credit Union48 Month CD
Accounts mentioned in this post. Rates as of December 7, 2016.

These Share Certificates have been a part of Suncoast CU’s product line for nearly six years and the current APYs are the highest seen during that time period.

According to CSR, the Early Withdrawal Penalty (EWP) for any Share Certificate with a term greater than twelve months is “180 days of dividends.” An added feature concerning EWPs is found on the Promotion Rates page:

And unlike many financial institutions, you never have to worry about
loss of initial investment if you need to make an early withdrawal.

In other words, no matter when you make a withdrawal, the principal will remain intact. If a withdrawal occurs before Day 180, all earned dividends will be forfeited, but the principal will not be touched.

Availability

Headquartered in Tampa, Suncoast Credit Union’s field of membership (FOM) is primarily residency based, with individuals who live, work, worship, or attend school in any of the following Florida counties, eligible to join:

Citrus, Charlotte, Desoto, Collier, Dixie, Gilchrist, Glades, Hardee, Hendry, Hernando, Hillsborough, Highlands, Levy, Lee, Manatee, Marion, Pascoe, Pinellas, Polk, Sarasota, or Sumter Counties.

Immediate family members of current Suncoast CU members also qualify for membership, as do alumni of Florida College.

Joining Suncoast CU and opening a Share Certificate can be done online, or in person at any of 62 Florida branches located along the Gulf of Mexico from Crystal River to Naples.

Credit Union Overview

Suncoast Credit Union (NCUA Charter #68645) has an overall health grade of "A" at DepositAccounts.com, with an excellent Texas ratio of 7.45%, based on June 30, 2016 data. In the past year, Suncoast CU has increased its total deposits by $872.89 million, an excellent annual growth rate of 15.41%. Please refer to our financial overview of Suncoast Credit Union for more details.

Founded in 1934 as the Hillsborough County Teachers Credit Union, Suncoast Credit Union is currently Florida’s largest credit union, with more than 713,000 members and assets in excess of $7.5 billion. While the original charter was amended to include teachers from additional counties, the FOM remained focused on educators for more than 55 years. The Credit Union converted to a state charter in December 2013, adopting the Suncoast Credit Union name and a new logo.

How the CDs Compare

When compared to the 167 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available within the FOM, Suncoast Credit Union’s 48-month Share Certificate APY currently shares the top spot with NASA Federal Credit Union’s 49-month Share Certificate Special and Bay State Savings Bank’s 48-month CD.

When compared to the 173 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available within the FOM, Suncoast Credit Union’s 60-month Share Certificate APY currently ranks second.

The above rates are accurate as of 9/21/2016.

To search for the best CD rates, both nationwide and state specific, please refer to the CD rates section of DepositAccounts.com or our Rates Map page.

Comments
5.50% 21-Month CD at a Florida CU (Suncoast Schools)
Suncoast Schools FCU is offering a special 5.50% APY 21-month share certificate. The minimum deposit is $500. There's also a special 9-month CD with a yield of 5.25% APY.

My last report on this credit union was in December when it was offer 5.60% on all terms of 12 months and longer. Their standard rates have gone down, but they're still competitive.

Field of membership includes those with some affiliation with schools in the Florida counties of Charlotte, Citrus, Collier, Desoto, Glades, Hardee, Hendry, Hernando, Hillsborough, Lee, Levy, Manatee, Pasco, Pinellas and...



Continue Reading
5.60% 60-Month / 5.60% 12-Month CD at a Florida CU (Suncoast Schools)
Suncoast Schools FCU is offering 5.60% APY on all share certificates with terms from 12 to 60 months. The minimum deposit is $1K. Youth certificates have the same yield but with a $500 minimum.

The field of membership includes those with some affiliation with schools in the Florida counties of Charlotte, Citrus, Collier, Desoto, Glades, Hardee, Hendry, Hernando, Hillsborough, Lee, Levy, Manatee, Pasco, Pinellas and Sumter. Also, those 55 years and older who live in one of the above counties can be eligible by joining an association for a one-time fee...

Continue Reading