TDECU recently added a 36-month Rising Rate CD, which earns a blended 3.56% APY. The minimum opening deposit is $1k, though the “kids and teen accounts” can be opened with as little as $100.
|4.07%||$1k||-||TDECU||36 Month Rising Rate CD Special - Year Three|
|3.56%||$1k||-||TDECU||36 Month Rising Rate CD Special - Year Two|
|3.04%||$1k||-||TDECU||36 Month Rising Rate CD Special - Year One|
According to the promotion page, the “Rate automatically increases on the one year and two year anniversary of the CD.” The fixed APYs are:
- 3.04% APY – Year 1
- 3.56% APY – Year 2
- 4.07% APY – Year 3
As stated in the Terms and Conditions document (page 15), the Early Withdrawal Penalty reads as follows:
Maturity of 25-36 Months: 270 days interest (applies to amount withdrawn)
Thanks to the DA reader, Jenathome1, for the Forum post about the Rising Rate CD.
Headquartered in Lake Jackson, Texas, TDECU’s field of membership (FOM) is primarily residency and employment based.
Residency: Individuals who live, work, worship, or attend school in the Texas counties of Bastrop, Bexar, Blanco, Brazoria, Caldwell, Calhoun, Collin, Comal, Dallas, Denton, DeWitt, Fayette, Fort Bend, Galveston, Goliad, Gonzales, Guadalupe, Harris, Hays, Jackson, Kendall, Lavaca, Lee, Matagorda, Montgomery, Refugio, Tarrant, Travis, Victoria, or Williamson are eligible to join.
Employment/Affiliation: Employees (and their family members), retirees, and members of more than 120 companies and organizations also qualifying for membership. The largest of these companies include AMOCO Chemical, BASF, Dow Chemical, and Chevron-Texaco.
Education: Students, faculty, staff, and alumni of the University of Houston are eligible to apply for membership.
Relationship: Family members of current TDECU members are also welcome to apply.
Joining TDECU and/or opening a Rising Rate CD can be done online, by phone (800.8391154), or at any of 39 Texas branches located in Angleton, Bay City, Baytown, Brazoria, Cuero, Edna, Fort Worth, Freeport, Garland, Hallettsville, Houston (10), Katy, Lake Jackson (2), Missouri, Pasadena (2) Pearland, Port Lavaca, Rosenberg, Seadrift, Shenandoah, Sugarland, Texas City, Victoria (4), West Columbia, and Yoakum.
Credit Union Overview
TDECU has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 9.60% (excellent) based on December 31, 2018 data. In the past year, TDECU has increased its total non-brokered deposits by $39.54 million, an above average annual growth rate of 1.56%. Please refer to our financial overview of TDECU (NCUA Certificate # 60705) for more details.
TDECU was formed in 1955 as the Texas Dow Employees Credit Union when seven Dow employees each contributed $5 to loan a friend $35 to buy a refrigerator. TDECU is currently the fourth largest credit union in Texas, with more than 303,000 members and assets in excess of $3.2 billion. In a recent press release, TDECU announced,
a significant milestone for the organization’s mortgage portfolio: $1 billion in mortgage loans. TDECU’s President and Chief Executive Officer, Stephanie Sherrodd, announced the achievement after a review of the 2018 performance.
“I know the entire mortgage team – as well as our support teams – played a part in making this growth happen. It’s exciting to see, particularly when you consider the mortgage portfolio is significantly larger now than the entire asset size of the entire credit union just 15 years ago when I started here at TDECU,” noted Sherrodd.
How the Rising Rate CD Compares
When compared to 278 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, TDECU’s Rising Rate CD blended APY currently ranks first.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|3.56% APY (blended)||Rising Rate CD||TDECU|
|3.35% APY||3-Year Term Deposit||Mountain America Credit Union|
|3.06% APY||36-Month Online Promo CD||M.Y. Safra Bank|
These rates are accurate as of 3/14/2019.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.