Texas Trust Credit Union (Texas Trust) is offering a “Texas-sized return” of 2.70% on its 19-month Promotional CD. This limited-time offer can be opened with a $500 minimum deposit, and is capped at a $1m per member. According to the fine print on the Share CD page, “At maturity, deposits and interest will renew as a 12-month CD at the prevailing rate.”
As stated in the Truth-in Savings document, the Early Withdrawal Penalty reads as follows:
TERM OF ONE YEAR OR MORE: 180 days' dividends will be forfeited, if earned
dividends are not available, the penalty will reduce the Certificate's principal.
I'd like to thank the DA reader who emailed me about Texas Trust’s hot deal.
Headquartered in the Dallas suburb of Arlington, Texas Trust Credit Union’s field of membership (FOM) includes individuals who live, work, or worship in the Texas counties of Dallas, Henderson, Tarrant, or Tom Green Counties, or in select areas of Denton, Ellis, or Johnson Counties.
UT Arlington alumni and students (both current and incoming) are also eligible to join.
Family members of individuals eligible to join Texas Trust are welcome to apply.
Joining Texas Trust and/or opening the Promotional CD can be done online, or at any of 21 Texas branches, located in Arlington (7), Athens, Bedford, Cedar Hill, Flower Mound, Grand Prairie (3), Hurst, Irving, Mansfield (2), Midlothian, and San Angelo (2).
Credit Union Overview
Texas Trust Credit Union has an overall health rating of "A" on DepositAccounts.com, with a Texas Ratio of 3.00% (excellent), based on March 31, 2018 data. In the past year, Texas Trust has increased its total non-brokered deposits by $192.53 million, excellent annual growth rate of 26.23% growth rate. Please refer to our financial overview of Texas Trust Credit Union (NCUA Charter # 68434) for more details.
Texas Trust Credit Union is currently the 17th largest credit union in Texas, but its journey began in Connecticut in 1936 when the employees of the Chance Vought Aircraft Corporation (CVAC) established a credit union. Twelve years later, CVAC relocated to Dallas and by 1952 the Credit Union was the largest in Texas. The Texas Trust re-brand occurred in 2004 following two mergers and FOM expansion. In 2013, Texas Trust merged with Arlington-based Security One Federal Credit Union and was named the Credit Union Sponsor of the University of Texas at Arlington Intercollegiate Athletics. Following the 2017 merger with Qualtrust Credit Union, Texas Trust’s membership has grown to more than 115,200, and with assets in excess of $1.2 billion.
How the Promotional CD Compares
When compared to 239 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available within the FOM, Texas Trust Credit Union’s 19-month Promotional CD APY currently ranks first.
The above rates are accurate as of 6/5/2018.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.