TDECU (TX) 36-Month CD Is A Rate Leader
Last month, TDECU raised the rate on its 36-month Standard CD by 35 bps. The new 1.25% APY is the highest rate for the 36-month Standard CD in about a year. The minimum opening deposit is $1k, with no stated balance cap.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 1.25% | $1k | - | TDECU | 36 Month Standard CD | |
| 1.25% | $1k | - | TDECU | 36 Month IRA (Traditional, Roth) |
The 36-month Standard CD is also available as an IRA (Traditional or Roth), earning the same APY with the same deposit requirements.
TDECU doesn’t list the Jumbo CDs as separate products on its website, but according to the Rates and Fees page (and confirmed by CSR),
Jumbo CD $100,000 – Jumbo CDs earn 0.15% interest rate above the Standard CD interest rate when opened new or at renewal.
The Early Withdrawal Penalty is also stated on the Rates and Fees page (Miscellaneous Account Fees) and reads as follows:
Maturity of 25-36 Months – 270 days interest (applies to amount withdrawn)
High-Yield Checking
I wrote about TDECU’s High-Yield Checking in the beginning of 2020, when it earned 3.00% APY on qualifying balances up to $20k; that rate dropped to 1.00% APY about a year ago. Qualifying balances over $20k earn 0.25% APY, with non-qualifying balances earning 0.02% APY.
The reason I’m mentioning the High-Yield Checking is this:
With High-Yield Checking from TDECU, you’ll earn up to
1.00% APY on your checking and savings account balances.
If the High-Yield Checking account’s qualifications are met, primary savings balances will earn 1.00% up to $50k and 0.25% APY on balances over $50k. If the requirements are not met, the total balance will earn 0.10% APY (the current default rate).
High-Yield Checking Qualification Requirements
- At least 10 debit card purchases ($1 minimum) per statement cycle.
- At least one direct deposit or automatic ACH payment of at least $500 per statement cycle.
- Receive eDocuments.
The High-Yield Checking account has no minimum balance requirement, no monthly service fee, and no minimum opening deposit. Nationwide ATM fees will be reimbursed up $30 per month, if qualifications are met. There is a limit of one account per member.
Availability
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, or live with a 10-mile radius of a TDECU Member Center, are eligible to join.
Employment/Affiliation: Employees (and their family members), retirees, and members of more than 125 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 CD can be done online, by phone (800.839.1154), or at any of 35 Texas branches located in Angleton, Bay City, Baytown, Brazoria, Cuero, Cypress, Edna, Fort Worth, Freeport, Garland, Hallettsville, Houston (7), Katy, Lake Jackson (2), Missouri City, Pasadena (2) Pearland, Port Lavaca, Rosenberg, Shenandoah, Spring, Sugar Land, Texas City, Victoria (3), and Yoakum. According to TDECU’s Locations page, two Houston branches (Downtown Tunnel and Marathon) are temporarily closed and appointments can be scheduled at any of the 35 open branch locations.
TDECU will fund $5 for your new savings account and $1 into your new checking account to give you all the benefits of membership!
TDECU participates in both the CO-OP Shared Branch and ATM networks, giving members,
Free Access to over 55,000 surcharge-free ATMs and over 5,000 credit union service centers across the United States.
Credit Union Overview
TDECU has an overall health grade of "B" at DepositAccounts.com, with a Texas Ratio of 17.13% (above average) based on December 31, 2020 data. In the past year, TDECU has increased its total non-brokered deposits by $545.23 million, an excellent annual growth rate of 19.23%. Please refer to our financial overview of TDECU (NCUA Certificate # 60705) for more details.
Established in 1955, TDECU was originally known as the Texas Dow Employees Credit Union. The seven founding members were Dow employees who each contributed $5 to loan a friend $35 to buy a refrigerator, or as TDECU’s About page puts it, “How we started: it’s a ‘cool’ story.” The mergers of three Houston-area credit unions and the acquisition of eight Whitney Bank branches in the past ten years has substantially increased TDECU’s footprint in Houston. TDECU is currently the fourth largest credit union in Texas, with more than 354,000 members and assets in excess of $4.1 billion.
How the Standard and Jumbo CDs Compare
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, TDECU’s 36-month Jumbo CD and Standard CD APYs currently rank first and second (respectively), regardless of minimum deposit requirements.
| Interest Rate | CD Length of Term | Credit Union/Bank |
|---|---|---|
| 1.40% APY | 36-month Jumbo CD ($100k min) | TDECU |
| 1.25% APY | 36-month Standard CD ($1k min) | TDECU |
| 1.01% APY | 3-Year Fixed CD ($500 min) | Lafayette Federal Credit Union |
| 0.95% APY | 36-Month CD ($500 min) | Affinity Plus Federal Credit Union |
These rates are accurate as of 4/2/2021.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.
