TEXAR Federal Credit Union CDs Have Modest Rate Increases

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Deal Summary: 6-, 12-, 18-, 24-, 36-, and 48-month Share Certificates, 1.25% APY, $1k minimum deposit.

Availability: Residents of the Texas counties of Bowie, Cass, Lamar, and Red River, and the Arkansas counties of Little River and Miller.

About two months ago, TEXAR Federal Credit Union (TEXAR) restructured its Share Certificate by offering the same 1.21% APY on all Share Certificates. Earlier this week, TEXAR raised the “uni-rate” to 1.25% APY. The minimum opening deposit is $1k, with each individual member limited to a maximum deposit of $1 million. Obviously, the shorter the term, the more competitive the rate.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.25%$1k-TEXAR Federal Credit Union6 Month Share Certificate
1.25%$1k-TEXAR Federal Credit Union12 Month Share Certificate
1.25%$1k-TEXAR Federal Credit Union18 Month Share Certificate
1.25%$1k-TEXAR Federal Credit Union24 Month Share Certificate
1.25%$1k-TEXAR Federal Credit Union36 Month Share Certificate
1.25%$1k-TEXAR Federal Credit Union48 Month Share Certificate
Rates as of November 30, 2020.

Over the past six years, TEXAR has offered many competitive Share Certificate rates, but those rates don’t last long. For example, in the past three years, the 12-month Share Certificate had 19 rate changes, with APYs ranging from 0.75% and 2.35%. The longer-term Share Certificates have a more stable rates history, but with this new “uni-rate” model for all terms, we may be seeing parallel rate changes for a while.

All the Share Certificates are also available IRA Certificates (Traditional, Roth), earning the same 1.25% APY with the same deposit requirements.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.25%$1k-TEXAR Federal Credit Union6 Month IRA
1.25%$1k-TEXAR Federal Credit Union12 Month IRA
1.25%$1k-TEXAR Federal Credit Union18 Month IRA
1.25%$1k-TEXAR Federal Credit Union24 Month IRA
1.25%$1k-TEXAR Federal Credit Union36 Month IRA
1.25%$1k-TEXAR Federal Credit Union48 Month IRA
Rates as of November 30, 2020.

According to CSR, the Early Withdrawal Penalty (EWP) is based on the amount of time left before the Share Certificate’s maturity date. With less than one year remaining until maturity, the EWP is 90 days of dividends on the amount being withdrawn. With more than one year remaining until maturity, the EWP is 180 days of dividends on the amount being withdrawn.

Availability

Headquartered in Texarkana, Texas, TEXAR Federal Credit Union’s residency-based field of membership (FOM) is unique, as the largest municipality it serves (Texarkana) straddles the Texas/Arkansas border.

Individuals who live, work, worship, attend school, or conduct business in the Texas counties of Bowie, Cass, Lamar, or Red River, or the Arkansas counties of Little River or Miller are eligible for membership.

Joining TEXAR and/or opening a Share Certificate can be done over the phone (903.223.0000). Current TEXAR members can open a Share Certificate by using TEXAR’s Anywhere Access online banking platform. TEXAR has six Texas branches located in Atlanta, DeKalb, Hooks, New Boston, Paris, and Texarkana, or the Arkansas branch in Texarkana, but only three select branches are currently open for walk-in traffic.

The following branch lobbies are OPEN for normal business hours:

    • Richmond Road (Texarkana, Texas)
    • New Boston
    • Atlanta

    Members may still utilize the technology in place to avoid the lobby:

    • MyTEXAR Teller/ATMs located at all branches and many remote locations
    • Anywhere Access online banking
    • TEXAR Mobile App

Opening a Regular Share Savings account (minimum $25 deposit) is required to establish and maintain a TEXAR membership.

Credit Union Overview

TEXAR Federal Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 1.67% (excellent) based on June 30, 2020 data. In the past year, TEXAR has increased its total non-brokered deposits by $10.46 million, an excellent annual growth rate of 4.09%. Please refer to our financial overview of TEXAR Federal Credit Union (NCUA Charter # 24567) for more details.

TEXAR Federal Credit Union was originally established in 1951 as the Bowie County Teachers Credit Union. As its FOM expanded and diversified, the Credit Union rebranded three times: Bowie-Cass Teachers Credit Union (1964), the Teachers Federal Credit Union (1996), and finally, TEXAR Federal Credit Union (2001). With more than 32,500 members and assets in excess of $363 million, TEXAR is currently the 65th largest credit union headquartered in Texas.

How the Share Certificates Compare

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, TEXAR Federal Credit Union’s 12-month Share Certificate APYs currently ranks first.

Interest RateCD Length of TermCredit Union/Bank
1.25% APY12-Month Share CertificateTEXAR Federal Credit Union
1.00% APY12-Month CDMilWay Federal Credit Union
0.91% APY12-Month CDRed River Credit Union

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, TEXAR Federal Credit Union’s 48-month Share Certificate APYs currently ranks second.

Interest RateCD Length of TermCredit Union/Bank
1.26% APY48-Month CDRed River Credit Union
1.25% APY48-Month Share CertificateTEXAR Federal Credit Union
1.20% APY48-Month CDEvansville Teachers Federal Credit Union

The above rates are accurate as of 11/20/2020.

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

Related Pages: Shreveport CD rates, Dallas CD rates, 1-year CD rates, 5-year CD rates

Comments
TEXAR Federal Credit Union Offers One Competitive Rate On All CDs
Deal Summary: 6-, 12-, 18-, 24-, 36-, and 48-month Share Certificates, 1.21% APY, $1k minimum deposit.

Availability: Residents of the Texas counties of Bowie, Cass, Lamar, and Red River, and the Arkansas counties of Little River and Miller.

As interest rates have fallen this year, many institutions have flattened their rates by making the largest cuts on their long-term CDs. TEXAR Federal Credit Union (TEXAR) has flattened its rates in a different way: it increased rates on all of its Share Certificates. All now earn 1.21% APY,...

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TEXAR Federal Credit Union's 12-month CD Earns 2.25% APY
Deal Summary: 12-month Share Certificate, 2.25% APY, $1k minimum deposit.

Availability: Residents of the Texas counties of Bowie, Cass, Lamar, and Red River, and the Arkansas counties of Little River and Miller.

TEXAR Federal Credit Union (TEXAR) has started the new year with a new rate on its 12-month Share Certificate – 2.25% APY. The minimum opening deposit is $1k, with no stated balance cap.

The last time I wrote about a TEXAR Share Certificate two years ago, I was told the Early Withdrawal...

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TEXAR FCU (TX/AR) Ups 18-month Share Certificate Rate
Deal Summary: 18-month Share Certificate, 1.76% APY, $1k minimum deposit.

Availability: All residents of Bowie and Cass Counties, Texas, and Little River and Miller Countie, Arkansas. Most residents of Lamar and Red River Counties, Texas.

A new month means new rates, and TEXAR Federal Credit Union (TEXAR) has started the month by raising the rate on its 18-month Share Certificate and Online Share Certificate (1.76% APY). The minimum deposit is $1k, with no stated balance cap.

The 18-month Share Certificates are available...

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TEXAR FCU Raises Rate On 12-Month Online CD
Availability: All residents of Bowie and Cass Counties, Texas, and Miller County, Arkansas. Most residents of Lamar and Red River Counties, Texas.

Last week, TEXAR Federal Credit Union (TEXAR) raised the rate on its 12-month Online Share Certificate (1.45% APY). The 12-month Share Certificate can also be opened "In-Branch," but at a lower APY of 1.35%. In the past six years, the 12-month Share Certificates have experienced 27 rate changes, with the current APYs the highest since March 2013.

A $1K minimum deposit is...

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TEXAR FCU Ends The Year With Competitive 15-Month CD
Availability: All residents of Bowie and Cass Counties, Texas, and Miller County, Arkansas. Most residents of Lamar and Red River Counties, Texas.

TEXAR Federal Credit Union (TEXAR) is ending the year with a 15-month Online Share Certificate (1.75% APY). The 15-month Share Certificate can also be opened "In-Lobby," but at a lower APY of 1.65%.

A $1K minimum deposit is required, regardless of whether it is opened Online or In-Lobby, and there is no maximum balance cap. The 15-month Share Certificates are available as IRAs...

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