Indiana-based Teachers Credit Union (TCU) has added a 25-month CD Special, earning 3.09% APY. The minimum opening deposit is $1k, with no stated balance cap. This offering is very similar to the TCU 22-month CD Special (3.06% APY, $2.5k minimum) featured in August. The 22-month CD Special was available for about three months.
The 25-month CD Special has the highest APY of any TCU CD – the 24-month CD’s current APY is only 1.26%. There is a 10-day grace period before the CD Special automatically renews to a 24-month CD.
According to CSR, the Early Withdrawal Penalty is 180 days interest on the amount being withdrawn, with partials withdrawals allowed.
8-Month CD Special
TCU also added an 8-month CD Special, earning 2.48% APY. This short-term special requires only $500 to open, and like the 22-month, is not available as an IRA.
28-Month IRA Special
While the 25-month CD Special is not available as an IRA, TCU has been offering a 28-month IRA Special (3.12% APY) for a few months. A $1k minimum deposit is required to open.
Headquartered in South Bend, Indiana, Teachers Credit Union’s field of membership (FOM) is residency based, with individuals who live or work in Indiana, or in the southwest Michigan counties of Berrien and Cass eligible to join.
Family members of current TCU members are also welcome to apply, although Michigan residents are only membership-eligible if they live with their TCU member relative.
As stated on the online application, the following relationships qualify: parent, spouse, child, stepchild, sibling, niece, nephew, aunt, uncle, grandparent, and grandchild. Even in-law relationships (father, mother, son, daughter, brother, and sister) qualify.
Joining TCU and/or opening a CD Special can be done online, or at any of 52 Indiana branches, located in Clay, Elkhart, Floyd, Fulton, Hamilton, Hendricks, Huntington, Johnson, Kosciusko, Lake, Marion, Marshall, Montgomery, Porter, Putnam, and St. Joseph Counties. TCU also has a single Michigan branch on South 11th Street in Niles.
TCU also participates in the CO-OP Shared Branch network.
Whether you’re traveling across town or across country, you can rest easy knowing you have convenient access to your TCU accounts at any one of more than 5,600 CO-OP Shared Branches nationwide.
Credit Union Overview
Teachers Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 1.13% (excellent), based on September 30, 2018 data. In the past year, TCU increased its total non-brokered deposits by $145.97 million, an excellent annual growth rate of 6.01%. Please refer to our financial overview of Teachers Credit Union (NCUA Charter # 60060) for more details.
Teachers Credit Union’s backstory is classic: in 1931, a small group of teachers “pooled their savings to lend to others in need of credit.” Eighty-eight years later, TCU is Indiana’s largest credit union with more than 300,000 members and assets in excess of $3.1 billion.
The TCU Foundation was established in 1994,
to support the credit union vision of being a positive force in the communities served by TCU. As such, the TCU Foundation has awarded nearly $3 million dollars in educational grants, contributions and college scholarships throughout the markets served by TCU.
How the CD Special Compares
When compared to 342 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Teachers Credit Union’s 25-month CD Special APY currently ranks third.
The above rates are accurate as of 2/4/2019.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.