UPDATE 3/5/2015: No longer available
Superior Choice Credit Union (SSCU) has two competitive rate Certificate Specials (CDs): 25-month CD (1.50% APY) and 47-month CD (2.00% APY). Both CDs require a $5K minimum deposit of new money, with no maximum balance cap.
According to CSR, the Early Withdrawal Penalty (EWP) on the 25-month CD Special is 90 days interest, while the EWP on the 47-month CD Special is 180 days interest.
The fine print on SCCU’s Rate page states,
The 25 month certificate will roll into a 2 year certificate upon maturity.
The 47 month certificate will roll into a 4 year certificate upon maturity.
There are several routes to membership in Superior Choice Credit Union.
In addition, family members of existing SCCU member are also eligible for membership. Complete qualification details are listed on the Joining SCCU page.
Joining SCCU can be done online, or at any of five Wisconsin branches located in Ashland, Mellen and Superior (3), or the single Minnesota branch in Hermantown.
Opening a CD requires a branch visit, since SCCU’s online banking system, "It’s Me 24/7," is limited to account management and bill payment. However, opening a CD can be done online. The second page of SCCU's online application has an "Open a New Account" option.
Credit Union Overview
Superior Choice Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 10.36% (excellent) based on September 30, 2014 data. In the past year, SCCU has increased its total deposits by $23 Million, an excellent annual growth rate of 10.74%. Please refer to our financial overview of Superior Choice Credit Union for more details.
Founded in 1982, Superior Choice Credit Union (NCUA Certificate # 67173) is headquartered in Superior, Wisconsin. The recipient of the Wisconsin Credit Union League's Desjardins Adult Financial Literacy Award, the Wisconsin Governor's Financial Literacy Award, and the CU Direct Lending Best Practices Award 2014, SCCU lives up to its Mission Statement to "help improve the financial well-being of our members, our Credit Union, and our communities."
How the CDs Compare
Given the Credit Union’s easy membership requirements, comparing SCCU’s CDs to nationally available CDs is apt. Therefore, when compared to other similar length of term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available nationwide, Superior Choice Credit Union’s 25-month CD and 47-month CD are both competitive, with the 25-month CD especially so.
The above rates are accurate as of 2/24/2015.
To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.
Edit 2/25/15:Corrected account opening info.