Tampa Bay Federal Credit Union’s (Tampa Bay Federal) 60-month CD currently earns 3.25% APY. The minimum opening deposit is $500, with no stated balance cap. While Tampa Bay Federal’s Deposit Rates page lists three different deposit levels ($500, $50k, $100k), the same 3.25% APY applies to all balance tiers.
The 60-month CD is also available as an IRA (Traditional, Roth, CESA), earning the same APY with the same funding requirements.
It’s only been in the last year that the 60-month CD rate has become competitive, with 128 bps added in two increases since last July. Prior to that, the APY was below 2.00% for more than eight years, with an extended stay at 0.28% APY between 2010 and 2014.
As stated in the Universal Account Agreement document, the Early Withdrawal Penalty reads as follows:
For Share Certificates with an original maturity of one (1) year or more, the penalty equals
the lesser of earned dividends or six (6) months of dividends on the amount withdrawn.
Funding and Maturing Funds
Funding a CD can be done through an ACH transfer, wire transfer ($10 fee), check, or cash. Maturing funds can be accessed during the 10-day grace period and will be distributed by a cashier’s check or transferred to another Tampa Bay Federal checking or savings account.
If you select the automatic payout option, we will give you written notice prior to the maturity date of a Share Certificate Account stating that this Certificate is maturing and unless we get instructions from you otherwise, we will transfer all funds represented by the Certificate to your Regular Share Account.
Headquartered in Tampa, Florida, Tampa Bay Federal Credit Union’s field of membership (FOM) permits almost any U.S. citizen or resident alien to join:
Easy membership: Joining the Prime Time Club (one-time $5 fee) qualifies for Tampa Bay FCU membership. The Prime Time Club provides “education about the benefits of savings, investments, retirement planning, consumer borrowing, and real estate purchases.”
Residency: Individuals who live, work, worship, attend school, or volunteer in Palm River, West Tampa and the general Tampa community qualify for membership.
Employment/Affiliation: Employees/members of more than 120 Select Employee Groups, including the Tampa Port Authority and the City of Tampa, are membership eligible.
Relationship: Immediate family members of current Tampa Bay Federal are also welcome to apply.
You will be asked to make your initial minimum deposit of $5.00 with a debit or credit card. This $5.00 share must remain on deposit to maintain your member/owner status with us.
While checking and/or savings accounts can be opened online, opening a CD must be done over the phone (813.247.4414) or at any of the above mentioned branch locations.
Tampa Bay Federal participates in the CO-OP Shared Branch network, giving its members access to more than 5,000 shared branches throughout the country.
Tampa Bay Federal is just moments way with our shared branching network of Credit Unions. Throughout the United States, credit unions have joined forces cooperatively to offer basic financial services for credit union members across the country.
Credit Union Overview
Tampa Bay Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.42% (excellent), based on March 31, 2019 data. In the past year, Tampa Bay Federal increased its total non-brokered deposits by $19.41 million, an excellent annual growth rate of 8.01%. Please refer to our financial overview of Tampa Bay Federal Credit Union (NCUA Charter # 352) for more details.
Chartered in 1935, Tampa Bay Federal Credit Union was originally known as the Tampa City Employees Credit Union, having been established by thirteen City of Tampa employees. A Hav-A-Tampa cigar box supposedly served as the fledgling Credit Union’s safe for several months, holding up to as much as $400. Currently the 39th largest credit union in Florida, Tampa Bay Federal has more than 29,000 members and assets in excess of $310 million.
How the CD Compares
When compared to 174 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationwide, Tampa Bay Federal Credit Union's 60-month CD APY currently ranks third.
The above rates are accurate as of 6/19/2019.
Searching for the best CD rates, either nationwide or state specific? Please refer to our CD Rates Table page.