Tremont Credit Union (TCU) is currently offering two CD Specials: an 18-month with a very competitive 2.25% APY and 15-month with a slightly less competitive 2.15% APY. Both CD Specials require a $1k minimum opening deposit of new money, which is defined as “not an internal transfer.”
In addition to the competitive rates, both CD Specials feature an additional deposit option.
One deposit may be made during the first 12 months of
the certificate and will not alter the original maturity date.
According to CSR, the additional deposit can be any amount, as long as it's at least $1k of new money.
As stated in the Terms and Conditions document (part of the online application), the Early Withdrawal Penalty reads as follows:
If your account has an original maturity of one year or more:
The penalty we may impose will equal 180 days dividends on the amount withdrawn subject to penalty.
Massachusetts Share Insurance
In addition to the NCUSIF insurance, deposits at Tremont CU are also covered by the Massachusetts Share Insurance Corporation.
MSIC now fully insures excess shares and deposits above the federal insurance limit
of $250,000 at ALL of member credit unions. As a result of the new law, MSIC will now
fully insure excess shares and deposits without limits that exceed NCUSIF coverage.
Headquartered in Milton, Massachusetts, Tremont Credit Union’s field of membership (FOM) is primarily residency based, with U.S. citizens or resident aliens who live or work in the Massachusetts counties of Middlesex, Norfolk, or Suffolk, eligible to join. In addition, individuals who worship in Suffolk County also qualify.
Employees and members of more than 250 Select Employer Groups, including the Boston Public Schools, Blue Cross Blue Shield of Massachusetts, Boston Children’s Hospital, and Dana Farber Cancer Institute, are also eligible to join.
”All family members” of current TCU members are welcome to join.
Opening a CD Special can be done at any of the above mentioned branches, by phone (781.843.5626), or by secured email ([email protected]).
Opening a Primary Savings ($30 minimum) account establishes a TCU membership. A minimum balance of $30 is required to avoid a $5 monthly service charge.
Membership gives you access to nearly 36,000 surcharge-free CO-OP ATMs nationwide, over 9,000 of which are deposit-taking. Additionally, members can access thousands of surcharge-free SUM Network ATMs.
Credit Union Overview
Tremont Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 10.03% (excellent), based on September 30, 2019 data. In the past year, TCU increased its total non-brokered deposit by $13.11 million, an excellent annual growth rate of 8.61%. Please refer to our financial overview of Tremont Credit Union (NCUA Charter # 68349) for more details.
Founded in 1952 as the Boston Teachers Federal Credit Union, Tremont Credit Union is currently the 40th largest credit union in Massachusetts, with more than 17,000 members and assets in excess of $191 million.
How the CD Special Compares
When compared to 315 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Tremont Credit Union's 18-month CD Special APY currently shares the top spot with six other CD APYs offered by a variety of easy membership credit unions.
The above rates are accurate as of 2/24/2020.
Searching for the best CD rates, either nationwide or state specific? Please refer to our CD Rates Table page.