Availability:Residents of Bell County and portions of Williamson County, Texas.
Texell Credit Union (Texell CU) raised the rates on several CDs today, with the 60-month New CD (2.25% APY) being the most competitive. The minimum opening deposit is $1K and there is no maximum balance cap, but Texell CU also has a separate 60-month Jumbo CD (2.35% APY), with a minimum deposit of $50K. The 60-month New CD is also available as an IRA (Traditional and Roth) at the same APY, with the same funding requirements.
According to CSR, the Early Withdrawal Penalty is fairly substantial:
We base the penalty on the term. You will lose half of the dividends earned. So for a 18 month term, if you pull out early, you will lose 9 months of dividends.
Texell Credit Union’s field of membership is residency based, with individuals who live in Bell County and portions of Williamson County, Texas, eligible to join. The geographic limitations of Williamson County are as follows: within a 10-mile radius of 1011 S. IH 35, Georgetown, or 651 N. Hwy 183, Leander. Immediate family members of current Texell CU members are also eligible.
Joining Texell CU and opening a CD can be done online, or by visiting any of six branches located in Belton, Georgetown, Killeen, Leander, and Temple (2). (Texell CU’s online application is time sensitive, so I have not included a direct link.)
Credit Union Overview
Texell Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 4.03% (excellent) based on September 30, 2014 data. In the past year, Texell Credit Union has increased its total deposits by $6.38, an excellent annual growth rate of 3.25%. Please refer to our financial overview of Texell Credit Union for more details.
Texell Credit Union (NCUA Certificate # 68608) was founded in 1948 to serve the employees of the Temple Post Office, the Temple Veterans Administration Center, and the Temple Soil Conservation Service. Membership was expanded in 1983 to include the Temple Public School Teachers and the City of Temple, necessitating a new name: Temple Area Federal Credit Union. In 2002, following another membership expansion to include all of Bell County, the name was changed to Texell Credit Union. Today, Texell Credit Union has over 33,100 members and assets in excess of $234 Million.
How the CD Compares
When compared to other similar length-of-term CDs tracked by DepositAccounts.com, that require a similar minimum deposit, and are available to Texas residents, Texell Credit Union's 60-month CD fares well:
These rates are accurate as of 12/17/2014.
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.