Massachusetts-based Taunton Federal Credit Union (TFCU) added a 20-month Share Certificate Special (3.00% APY) earlier this week. This competitive Share Certificate Special can be opened with a minimum $250 deposit, with no stated balance cap.
The 20-month Certificate is also being offered as an IRA (Traditional, Roth, CESA), earning the same APY with the same funding requirements.
According to the fine print on the promotion page, the Early Withdrawal Penalty reads as follows:
The penalty for a 20 month certificate is 9 months of dividends
regardless of when, prior to maturity, you redeem the certificate.
There is a ten day grace period before the 20-month Share Certificate Special automatically renews to an 18-month Share Certificate.
Headquartered in Taunton, Massachusetts, Taunton Federal Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, worship, or attend school in Bristol County, Massachusetts, or the Rhode Island counties of Bristol, Kent, Newport, or Providence eligible to join.
Individuals who live, work, worship, or attend school in the Rhode Island towns of Charlestown, Exeter, Hopkinton, Narragansett, New Shoreham, North Kingstown, Richmond, or South Kingstown also qualify for membership.
Immediate family member of current TFCU members are also welcome to apply.
TFCU also participates in the CO-OP Shared Branch network.
As a TFCU member, you can visit any of the more than 5,000 locations where you see the CO-OP Shared Branch logo, and conduct transactions just like you were at a TFCU branch!
Credit Union Overview
Taunton Federal Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 5.41% (excellent), based on March 31, 2018 data. In the past year, TFCU increased its total non-brokered deposit by $8.95 million, an excellent annual growth rate of 7.03%. Please refer to our financial overview of Taunton Federal Credit Union (NCUA Charter # 5602) for more details.
On a cold November day in 1947, Mr. Gerard Bonenfant established the Taunton Municipal Credit Union in the basement of Taunton City Hall. Each week, Mr. Bonenfant would collect as little as 25¢ from City Hall workers, recording the deposits in a hand-written ledger book. Within a year, Taunton’s police and fire departments were included in the FOM, and subsequently, loans up to $100 were granted to the Credit Union’s members. In 1950, several other Taunton City departments, including the Taunton Municipal Lighting Plant, were added to the FOM. More than 70 years later, Taunton Federal Credit Union serves over 18,600 members, throughout Bristol County and nearby Rhode Island.
How the Share Certificate Special Compares
When compared to the 206 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Taunton Federal Credit Union’s 20-month Share Certificate Special APY currently shares the top spot with Rockland Federal Credit Union’s 15-month Share Certificate APY (Note, the 3.15% 18-month e-CD at Home Loan Investment Bank is no longer available).
The above rates are accurate as of 8/10/2018.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.