Taunton Federal Credit Union Adds 20-Month CD Special


Deal Summary: 20-month Share Certificate Special, 3.00% APY, $250 minimum deposit.

Availability: Residents of Bristol County, Massachusetts and most of Rhode Island.

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.

Joining TFCU and/or opening a Share Certificate Special can be done online, or at any of three Massachusetts branches, located in Middleboro, New Bedford, and Taunton.

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.

Related Pages: Boston CD rates, Providence CD rates, 1-year CD rates

RichReg   |     |   Comment #1
Yup....time to sharpen those tele-worshipping skills, RJM.
Or I could just stay at the Holiday Inn Express in Providence.

Hmmm ;; decisions, decisions...
RJM   |     |   Comment #7
Nope. With the 18 month 3.15% being dead, I am content to sit tight awaiting something close to my targets. Unless I go for the 3.56% 30 month. I wrote my targets down a few days ago. I know I might have to wait a few months. Not really expecting to get a 4-5 year but I put down targets anyway.
I had a brokered CD mature today from 4/21. It Paid a measly 1.68%. But, it must have been a deal at the time. Or I entered a wrong price?

I listed them in a format that I wish Ken would use here. Comparing the rate to a brokered cd and the best available nationwide deal.

12 month 3%. (Brokered= 2.35%)
18 month 3.35% (Brokered=2.55%) Deal at 3.15%, (now dead)
24 months 3.6% (Brokered at 2.60% Deal at 3.00%
30 month 3.75% (Brokered at 3%) Deal at 3.56%
36 month 4% (Brokered at 3.05%)
48 month 4.35 (Brokered at 3.20%)
60 month 4.75 (Brokered at 3.35%)
The reason I want better rates is I don't mind having dry powder in the event of a market decline.
Joes   |     |   Comment #8
Only about 5/6 of you on the site are biting.
Most of members are just regular joes trying to earn a few bucks.
Dunmovin   |     |   Comment #9
"The reason I want better rates is I don't mind having dry powder in the event of a market decline." Then what is the alternative while one waits...what is your status quo pending an uptick...?
RJM   |     |   Comment #10
That was a typo. I am always going to keep some dry powder but the deals above in the near term would induce me to open a CD with some of it.
novice   |     |   Comment #15
other than having a consolidated statement is there any other reason for a brokered CD? Every time I have checked brokered CDs have a much lower interest rate.
RJM   |     |   Comment #19
The benefit for me is I already have most of my bank accounts linked at my broker for easy transfer and you don't have to open yet another account. at yet another bank or credit union.

When I bought my first brokered CD, the rate was reasonably close to what others paid and at the time, I was over the limit at Ally. That won't happen again.

Later I was able to buy some secondary market CDs at decent rates at the time but now, they don't look so good in comparison. Most were short term. But thats true of CDs I bought at NASA too. 2.25% for 11 month was a very good rate at the time. Now, not so great.

I don't stress about things I cannot control. But, as a general rule, you can do better with the entire universe of banks & credit unions. If you want the hassle that comes with it. I had to drive to the store and pay 25 cents to make a copy of my drivers license for NASA. (My printer does not have a copier and nobody has told me how to scan, save & print)

But I did buy a few larger 4&5 year ones and they are worth less than I paid because rates have risen so much. They are worth .9717, .9696 and .9609 respectively. Nothing I can do about spilt milk. (This is where someone chimes in and says I could not get those prices. I have no intent on selling them but I believe the 3rd party pricing to be reasonably accurate in the event I were to try to sell with a 2-3 week time frame, not a fire sale)
check out at 10am
check out at 10am   |     |   Comment #2
?? can i get a amen brother?
Inflation_Hawk   |     |   Comment #3
Last August there was a 20 month CD that was going for 1.70%.
This 3.0% deal looks good in comparison to that deal (up 1.30%).
However, over the same period inflation has risen from 1.60% to 2.90% (also, up 1.30%).
So, although 3% sounds great, relative to inflation, we're just treading water here.
Dunmovin   |     |   Comment #4
And, your current alternative is...? That's what one normally would look at (too).
Bogie   |     |   Comment #5
Plus inflation is never even across the board and does not affect everyone in the same manner.
Inflation_Hawk   |     |   Comment #11
My alternative?
5 year TIPS are yielding 0.75% over the CPI-U.
Right now, that would get you 3.65%.
The upside of TIPS is that as long as you purchase them with a positive yield you will beat inflation.
The downside is that deflation makes TIPS perform poorly relative to CD's.
Over the last few years, that's been the case.
But now, inflation's picked-up dramatically.
So, they're worth looking at again.
Of course, the other option is Turkish bonds!
Dunmovin   |     |   Comment #12
Aren't they interest rate sensitive...same as bond market?
Inflation_Hawk   |     |   Comment #16
So, in a rising interest rate environment, it's best to hold them to maturity.
larry   |     |   Comment #13
Are you purchasing reopenings or newly issued auctions for 5's, 10's and 30's? One more question do you have to pay a fee using a bank, broker, or dealer? tia
Inflation_Hawk   |     |   Comment #17
I prefer new issues and re-openings. But, they must have a positive yield to maturity.
If I can find one on the secondary market below par, I'll pop for one of them as well.

At my age I don't go further out than 5 years.
With current yield spread, there's not much point going-out any further than that for any age.

Most all of the brokers don't charge fees on Treasury new issues and re-openings purchases.
There's some small spread between buy/ask prices on the secondary market but no specific fees.
RJM   |     |   Comment #6
Yes, we should all buy penny stocks seeking a higher return.

Dunmovin   |     |   Comment #14
The question Inflation Hawk was asked ...what was his/her alternative to the CDs mentioned here. His/Her answer is what s/he is doing, i.e. TIPS and Turkish bonds. Seemingly that is what s/he is doing!
Inflation_Hawk   |     |   Comment #18
The Turkish bond thing was a lame attempt at humor.
And, at my age, I'm more of an it than a his/her.
$200 Checking Account Bonus at Taunton FCU in MA - Local Only

We have seen several big banks offering checking account bonuses this week. It's nice to see some bonuses from credit unions. Here's a good one from Taunton Federal Credit Union which is offering up to $200 for opening a checking account with direct deposit. The offer is scheduled to expire on 8/31/2012. The details are listed at this Taunton FCU promotions page.

Here's what is required to qualify for the full $200 bonus:

  • $50 for opening checking account and initiating direct deposit
  • $50 when first direct deposit is confirmed
  • $100 when direct deposit has...
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