Tremont Credit Union (MA) Offers 15-Month Add-On CD, 3.05% APY

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Deal Summary: 15-Month New Member CD Special, 3.05% APY, $1k minimum deposit, one additional deposit, new members with new money.

Availability: Residents of Middlesex, Norfolk, and Suffolk Counties (MA); more than 250 SEGs.

For a limited-time, Tremont Credit Union (TCU) is offering a 15-month New Member CD Special earning 3.05% APY, with the rate applying to “new money and new memberships only.” The minimum opening deposit is $1k, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.05%$1k-Tremont Credit Union15 Month New Member CD Special - New Money
Rates as of November 18, 2018.

In addition to a competitive rate, the CD Special permits one additional deposit.

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    The penalty we may impose will equal 180 days dividends on the amount withdrawn subject to penalty.

Free Kasasa Cash Checking

TCU has added the Kasasa brand to its product line, with its Free Kasasa Cash Checking earning 2.50% APY on qualifying balances up to $25k. Qualify balances above $25k earn 0.25% APY, with non-qualifying balances earning 0.05% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.50*%-$25kTremont Credit UnionKasasa Cash
OTHER TIERS: 0.25% $25k+
Rates as of November 18, 2018.

Qualifying Requirements

  • At least 12 debit card purchases
  • At least one direct deposit, ACH credit, or ACH payment
  • Enrolled in and agree to receive e-Statements

The Kasasa Cash account has no minimum balance requirement, monthly service fees, or opening/closing fees. The minimum opening deposit is $25 and there is a limit of one account per Social Security Number. Nationwide ATM fees will be reimbursed up to $25 ($4.99 per single transaction) if “incurred during the Monthly Qualification Cycle in which you qualified.” An ATM receipt must be presented within 60 days for fees of $5 or higher.

Kasasa Saver

TCU’s Kasasa Saver account earns 1.00% APY on qualifying balances up to $25k. When qualifications are met, the portion of the balance above $25k earns 0.25%, with non-qualifying balances earning 0.05% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.00*%-$25kTremont Credit UnionKasasa Saver
OTHER TIERS: 0.25% $25k+
Rates as of November 18, 2018.

Like the Kasasa Cash account, the Kasasa Saver account requires a $25 minimum opening deposit. There is no monthly fee nor a minimum balance required to earn rewards. Kasasa Cash rewards are automatically transferred to the Kasasa Saver.

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.

Availability

Headquartered in Braintree, 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.

Joining TCU can be done online or at any of four Massachusetts branches located in Boston, Braintree, Bayside or Roslindale. A new branch in Milton on Granite Avenue is “coming soon!”

Opening the 15-month CD Special can be done at any of the above mentioned branches, by phone (781.843.5626), or by secured email (info@tremontcu.org).

Credit Union Overview

Tremont Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 9.83% (excellent), based on June 30, 2017 data. In the past year, TCU increased its total non-brokered deposit by $3.6 million, an above average annual growth rate of 2.36%. 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 Massachusetts 42nd largest credit union, with more than 17,800 members and assets in excess of $180 million.

How the CD Special Compares

When compared to 325 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 15-month New Member CD Special APY currently ranks second.

Interest RateCD Length of TermCredit Union/Bank
3.15% APY19-Month Flex CD SpecialUnited Bank (CT)
3.05% APY15-Month New Member CD SpecialTremont Credit Union
3.04% APYOnline 19-Month CDMutualOne Bank

The above rates are accurate as of 11/9/2018.

Searching for the best CD rates, either nationwide or state specific? Please refer to our CD Rates Table page.

Related Pages: Boston checking accounts, reward checking accounts, 1-year CD rates

Comments
cdinvestor
cdinvestor   |     |   Comment #1
Thank you for listing this Ken.
Tremont CU is very local and I opened this CD at the branch with no problems.

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