Transportation Federal Credit Union Has Top 2-Year CD, 2.86% APY

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Deal Summary: 80th Anniversary Certificates (new money): 2-year Share Certificate, 2.83% APY, $1k min deposit. 2-year Jumbo Certificate, 2.86% APY, $100k min deposit.

Availability: Easy membership through American Consumer Council. Active or retired employee, military personnel, contractor, and other related occupational group affiliated with U.S. Department of Transportation or Federal Aviation Administration.

In celebration of its 80th Anniversary, Transportation Federal Credit Union (TFCU) is offering a 2-year Share Certificate (2.83% APY, $1k min) and a 2-year Jumbo Certificate (2.86% APY, $100k min). Both Certificates require new money, which is defined as “funds received into your Transportation FCU account(s) within the last 30 days which are not transferred from an existing TFCU account.”

Thanks to DA reader, retirednc, for a Forum post about the Anniversary Certificates.

5-Year CD and Jumbo CD

Like other CDs I’ve written about recently, TFCU’s 5-year CD (2.78% APY, $1k min) and 5-year Jumbo CD (2.98% APY $100k min) have become competitive in the past couple of months, as other nationally available long-term rates have headed downward.

Both 5-year Certificates are also available as IRA Certificates (Traditional, Roth, and CESA), earning the same APYs (except for an additional 10 bps for the 5-year IRA) with the same funding requirements.

According to CSR, the Early Withdrawal Penalty (EWP) is based on a formula, with the time left until maturity a determining factor.

TFCU has several useful forms on its website, including the Share Certificate Maturity Notice, which can be submitted electronically, and the Beneficiary Designation form. Three beneficiaries (with assignable percentages) can be named and Social Security numbers are required.

Excess Share Insurance

Additional coverage up to $250k is provided by the Excess Share Insurance Corporation, a subsidiary of American Share Insurance, the nation's largest private deposit insurer.

Availability

Headquartered in Alexandria, Virginia, Transportation Federal Credit Union’s field of membership (FOM) has a way for virtually all U.S. citizens and resident aliens to join.

Easy Membership Requirement: Although the American Consumer Council (ACC) is listed under "In Washington, D.C. and surrounding areas" on the "Join Us" page, according to CSR and the online application, anyone, regardless of where they live, can qualify for Transportation FCU membership by joining the ACC.

Employment: Active and retired employees, military personnel, contractors, and other related occupational groups affiliated with the U.S. Department of Transportation and the Federal Aviation Administration (Washington, D.C.) are eligible to join. The two largest groups included are the Department of Homeland Security and the TSA, no matter where the employee or retiree lives.

In the Washington, D.C. area there are more than 55 governmental agencies, businesses, and associations that qualify for membership. There are also eight Boston area governmental agencies (including the First Coast Guard District) and businesses that also qualify.

Relationship: Immediate family members and household members of individuals who are eligible for membership can also qualify. Immediate family is defined as “spouse, child, sibling, parent, grandparent, or grandchild”, including step- and adoptive relationships.

Complete details are available on TFCU’s "Join Us" page.

Joining TFCU can be done online, or at any of the two Washington, D.C. branches or the Boston branch. The Membership Application is also available as a download and can be returned to any branch or by mail. (Note: TFCU requires two government-issued forms of photo identification to complete the application process.)

The 5-year Share and Jumbo Share Certificates can be opened online, but the 24-month Anniversary Special Certificates must opened at a branch location or by phone (202.366.9400).

Your Transportation Federal Credit Union membership begins with $5.00 deposit to your Share Savings Account.

TFCU members have access to more than 3,500 Shared Branches and 30,000 fee-free CO-OP ATMs.

Transportation FCU is now a shared branch, meaning members of other, participating credit unions can use TFCU locations to conduct transactions as well. You can also conduct transactions at thousands of shared branches and surcharge-free CO-OP ATM locations including our three locations.

Credit Union Overview

Transportation Federal Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 3.71% (excellent) based on March 31, 2019 data. TFCU has an excellent capitalization level (11.10%), the result of holding $223.58 million in assets with $24.82 million in equity. Please refer to our financial overview of Transportation Federal Credit Union (NCUA Charter # 3140) for more details.

Transportation Federal Credit Union was founded as the Civil and Aeronautics Federal Credit Union in 1939 by twelve employees of the Civil Aeronautics Board, the first governmental agency that regulated aviation services. 80 years later, TFCU has substantially expanded its FOM and grown to more than 20,600 members, with assets in excess of $223 million.

How the Anniversary Share Certificates Compare

When compared to 201 similar length-of-term CDs tracked by DepositAccounts.com that available nationwide, Transportation Federal Credit Union's 24-month Jumbo Certificate and Share Certificate APYs currently rank first and second, respectively and regardless of minimum deposit requirements.

How the Jumbo CD Compare

When compared to 175 similar length-of-term CDs tracked by DepositAccounts.com that available nationwide, Transportation Federal Credit Union's 5-year Jumbo CD APY currently ranks fifth, regardless of minimum deposit requirements.

The above rates are accurate as of 8/16/2019.

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

Related Pages: Boston CD rates, Washington CD rates, 5-year CD rates, nationwide deals

Comments
Transportation FCU Adds 3-Year CD

UPDATE 2/7/2017: No longer available.

Deal Summary: 3-year Special Share Certificate, 2.51% APY, $1k minimum, $100k maximum.

Availability: Easy membership through American Consumer Council. Active or retired employee, military personnel, contractor, and other related occupational group affiliated with U.S. Department of Transportation or Federal Aviation Administration.

Just like last year, Transportation Federal Credit Union (TFCU) started February by offering a 3-year Special Share Certificate (2.51% APY). The minimum deposit is $1k, with a $100k balance cap per member.

Last year’s offering was marketed as a limited-time offer that...

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Transportation FCU Offers Limited-Time, Top-Rate 3-Year CD

UPDATE 2/8/2016: Thanks to all the DA readers for their helpful comments. I have followed up with CSR and have edited this post to reflect the information provided by the DA readers.

Availability: Easy membership through American Consumer Council. Active or retired employee, military personnel, contractor, and other related occupational group affiliated with U.S. Department of Transportation or Federal Aviation Administration.

Transportation Federal Credit Union (TFCU) started February by raising the rate on its 3-year Share Certificate (2.50% APY). The minimum deposit is $1K, with no...

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Special 3-Year CD Rate at Transportation Federal Credit Union in DC

Transportation Federal Credit Union is celebrating its 75-year anniversary with a special CD that it calls the Diamond Anniversary Share Certificate. It has a 2.00% APY with a 3-year term. Minimum deposit is $1,000. This is a limited-time offer. This special CD is listed in the credit union’s promotions page as of 2/21/2014.

The CD can be opened online, by phone or at one of the credit union’s branches. The details are listed in the promotions page.

Credit Union Membership

In 2012 when I reviewed this credit union, there didn’t seem to be...

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Top IRA CD Rates at Transportation Federal Credit Union

Sometimes a bank or credit union will offer higher IRA CD rates than CD rates. That’s the case at Transportation Federal Credit Union. Both of its regular and IRA CD rates are competitive, but the IRA CD rates are exceptional since they’re 25 bps higher. There’s also a rate bump of 10 bps for Jumbo accounts with a $100,000 minimum deposit. Below are three of the credit union’s Jumbo IRA CD rates as listed in the credit union’s savings rates page as of 7/3/2013:

  • 2.17% APY 5-year Jumbo IRA CD
  • 1.86% APY...
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Competitive CD Rates at Transportation FCU - Limited Membership

It doesn't look like it's easy to qualify for membership at Transportation Federal Credit Union. If you can find a way to qualify, you'll have access to some very competitive CD and IRA CD rates. The Jumbo IRA CDs have the best rates. These include a 2.62% APY for 5 years, a 2.01% APY for 3 years and a 1.26% APY for 1 year. The regular CD rates are close for the long-terms, but the shorter terms have much lower rates. The best non-IRA Jumbo CD rates include a 2.52%...

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