Tennessee Valley Fed Credit Union 60-Month CD Has Competitive Rate


Deal Summary: 60-month CD, 5.09% APY, $1k minimum deposit.

Availability: 10 Southeast Tennessee and 7 Northwest Georgia counties.

Tennessee Valley Federal Credit Union (TVFCU) has been offering a “uni-rate” on its CDs for about nine months. The current uni-rate is 5.09% APY, with the 60-month CD being the most competitive CD in the TVFCU product line. The minimum opening deposit is $1k, with no stated balance cap.

The 60-month CD is also available as an IRA CD (Traditional and Roth), earning the same 5.09% APY with the same deposit requirements.

Early Withdrawal Penalty

As stated on the CD page, the Early Withdrawal Penalty (EWP) reads as follows:

Unless stated otherwise, owners of accounts with a stated term of more than one year may receive a penalty for withdrawals before maturity. The penalty we may impose is the greater of seven days dividends on the amount withdrawn, or all dividends that have been earned not to exceed 180 days, or $25.00. The penalty may be calculated at the rate paid on the deposit at the time of the withdrawal. The penalty will, if necessary, be taken from the principal amount of the deposit.


Headquartered in Chattanooga, Tennessee Valley Credit Union’s field of membership (FOM) is community-based, with individuals who live, work, worship, volunteer, or attend school in any of ten Southeast Tennessee counties or seven Northwest Georgia counties eligible for membership.

Tennessee counties: Bledsoe, Bradley, Grundy, Hamilton, Marion, McMinn, Meigs, Polk, Rhea, and Sequatchie.

Georgia counties: Catoosa, Chattooga, Dade, Gordon, Murray, Walker, and Whitfield.

Immediate family and household members of a current TVFCU member also qualify for membership. Immediate family is defined as spouse, children, parents, siblings, grandparents, and grandchildren, including step- and adoptive relationships.

Account Opening

Joining TVFCU can be done online or at any of 19 Tennessee branches located in Athens, Chattanooga (8), Cleveland (2), Dayton, Etowah, Hixson, Kimball, Ooltewah (2), Red Bank, and Soddy Daisy. There are also five Georgia branches located in Chickamauga, Fort Oglethorpe, La Fayette, and Ringgold (2).

It’s easy to become a Tennessee Valley Federal Credit Union member! All you have to do is open a share account. [No minimum deposit requirement.]

Existing TVFCU members can open a CD by logging in to “tvfcuONLINE” and clicking on “Add an Account.”

Although there is an “Open Now” button on the TVFCU CD page that leads to the online Membership Application, CDs are not listed on the application. According to CSR, those joining TVFCU must have their membership application approved before opening a CD either in-branch or through the tvfcuONLINE banking platform.

Funding and Other Details

The following information is from the TVFCU Membership Agreement disclosure and a conversation with CSR.

  • Funding – Funds must be on deposit in a TVFCU Share Savings account when opening a CD. ACH, wire ($10 fee), check, or internal transfer can be used to deposit funds.
  • CO-OP Shared Branch Participant – No.
  • Ownership – Individual, joint, or trust.
  • Dividends – Compounded/credited quarterly and can be transferred to TVFCU Share Savings account.
  • Maturing Funds – Cashier’s check to address on file or internal transfer to TVFCU Share Savings.
  • Beneficiaries – Up to 6 with equal shares; Social Security numbers are preferred but not required.
  • Grace Period – 10 business days before automatic renewal.
  • Credit Check – Soft pull through either Experion or Equifax.

Credit Union Overview

Tennessee Valley Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.43% (excellent) based on June 30, 2023 data. In the past year, TVFCU has increased its total non-brokered deposits by $15.74 million, an above average annual growth rate of 0.73%. Please refer to our financial overview of Tennessee Valley Federal Credit Union (NCUA Charter # 1520) for more details.

Tennessee Valley Federal Credit Union is currently the fifth largest credit union headquartered in Tennessee, with nearly 179,000 members and assets in excess of $2.6 billion. Established in 1936 as the Chattanooga TVA Employees Federal Credit Union, the founding members were “57 TVA employees [who] pooled their resources of $500 to charter the organization under the Farm Credit Administration.” As stated on the TVFCC History page,

After a number of years operating only for salaried TVA employees and their immediate family members the Credit Union expanded its field of membership to allow TVA trades and labor hourly employees to join. The credit union’s membership consisted solely of these TVA employees and their family members until 1983 when it began adding Select Employee Groups (SEGs) outside of TVA.

In 1994 we changed our name to Tennessee Valley Federal Credit Union to better reflect our growing membership base, which included over 1200 SEGs throughout the Chattanooga and North Georgia area. In 2004 we applied for and received a community charter to serve the Southeast Tennessee Economic Development District that includes the following 13 counties surrounding Chattanooga, TN.

In 2022, TVFCU received approval to serve four additional counties in North Georgia, expanding our community to 17 counties in Southeast Tennessee and North Georgia.

How the 60-Month CD Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM and have minimum deposit requirements of $10k or less, two banks and two credit union have higher rates than currently offered on Tennessee Valley Federal Credit Union 60-Month CD. The following table compare the 60-Month CD to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 12/4/2023.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Chattanooga CD rates, 5-year CD rates

  |     |   Comment #1
If interest rates are on their way down (Fed Funds Futures sees better than 50% odds of 125 basis points cuts by YE 2024), how come there’s more 5 year 5% CD offers than ever?
  |     |   Comment #2
I just looked at one example from 2006-2008. Seems like conventional CD's are not affected by futures. FFR hit it's peak in August 2006 and remained steady until the first cut in August 2007. Average 5 year CD rates peaked in August 2006 and dipped a bit but remained fairly steady until August of 2007. After that first cut, they fell off a cliff

I wish there was a way to go back and see what the fed funds futures predicted back in August 2006. Either way, your premise seems correct, that the FFF is irrelevant until banks actually see that first cut. Which means we should continue to see good deals pop up for the rest of 2024.
  |     |   Comment #3
Now i looked at treasuries (which affect brokered Cd's) and their relation to rate cuts in the 06-07 cycle:
FFR peaks in August 2006 and first cut in August 2007. FVX peaks in June 2006 at 5.1%, drops rapidly to 4.3% by December 2006 but then has a double top by June 2007 and then falls off a cliff after the 1st rate cut. So again, FFF seems to be irrelevant here.

We should see the 5/10 year recover and make its way back up to 5%+ by spring and even higher until we see a rate cut.
  |     |   Comment #4
Wish I lived in Tennessee! Not necessarily for this CD deal, just because its the best state in the union. Redder than red!
  |     |   Comment #5
Just avoid Memphis which is bluer than blue. Memphis is also number one for the most dangerous city in the U.S. for 2022 and 2023 (https://propertyclub.nyc/article/most-dangerous-cities-in-the-us). Memphis has an overall crime rate that is 237% higher than the national average. How's that for BLUE?

My only complaint is that Tennessee taxes groceries. However, there's no state income tax and property tax is quite low. Besides Memphis, you're quite correct, it is redder than red.
  |     |   Comment #6
Better check that "no state income tax" thing. Last time I checked, TN did not tax straight W-2 income (as you stated) but did apply a 1-2% state tax to interest and dividends. Including CD interest, BTW.
  |     |   Comment #8
That was called the Hall Tax, which they repealed I think 2 years ago. So they are 100% tax free now, one of 8 states I think!

Sam, Yes of course Memphis is on the "do not move" list! Thats a no brainer. But I also have experience with dangerous blue ciites, as I grew up in near Detroit, and we were never allowed within the city limits, by my parents.
  |     |   Comment #12
I live in TN, Never been a CD interest tax here. Cost only $29 to tag any vehicle per year in my county. Am afraid of all these blue people moving here and not changing their thoughts. A little food tax is fine with me when my income is left alone.
  |     |   Comment #13
Youre wrong. Up until I think 2021, there was an income tax on dividends and interest. I just googled it 2 seconds ago to make sure, and sure enough, its true. The state repealed it so they could official say they are an "income tax free" state.
  |     |   Comment #7
Don't mean to upset anyone but when I think of Tennessee I think of red alright, redneck....;)
  |     |   Comment #9
That shouldnt upset anyone, as rednecks from red states are "stereotypically" poor but usually not considered dangerous, and more often than not too proud to take a million scam entitlements from the govt.

Basically like immigrants from 100 years ago, came with nothing but didnt ask for their neighbors to forfeit their hard earned money. Just worked their way up.
  |     |   Comment #10
Funny ... that doesn't describe the rednecks where I live.
  |     |   Comment #11
Fair enough, you could be telling the truth, but I have no idea. 

However, what I do know to be true is that it describes the ones where I live 100%.

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