As summer vacation is coming to an end, Teachers Credit Union (TCU) has added a 22-month Share Certificate Special, which earns a competitive 3.06% APY. The minimum opening deposit is $2.5k, with no stated balance cap.
The 22-month Share Certificate Special has the highest APY of any TCU Chare Certificate, by far – the 24-month’s current APY is only 1.26%. There is a 10-day grace period before the Share Certificate Special automatically renews to a 24-month Share Certificate.
According to CSR, the Early Withdrawal Penalty is 180 days interest on the amount being withdrawn.
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 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 Share Certificate Special can be done online, or at any of 52 Indiana branches, located in the Indiana counties of Clay, Elkhart, Floyd, Fulton, Hamilton, Hendricks, Huntington, Johnson, Kosciusko, Lake, Marion, Marshall, Montgomery, Porter, Putnam, and St. Joseph. TCU also has a single Michigan branch 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 1.00% (excellent), based on March 31, 2018 data. In the past year, TCU increased its total non-brokered deposits by $123.42 million, an excellent annual growth rate of 5.05%. 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-seven years later, TCU is Indiana’s largest credit union with nearly 298,000 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 Share Certificate Special Compares
When compared to the 360 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 22-month Share Certificate Special APY currently ranks first.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|3.06% APY||22-Month Share Certificate Special||Teachers Credit Union|
|2.90% APY||24-Month Share Certificate||CommunityWide Federal Credit Union|
|2.85% APY||2-Year CD||KS StateBank|
The above rates are accurate as of 8/29/2018.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.