In the past year, New Hampshire-based Triangle Credit Union (Triangle CU) has been promoting competitive CD Specials, usually in groups of three with a variety of terms. The latest offering includes a real gem: a 9-month CD Special (1.55% APY), which was added to the product line this week. The minimum deposit is $1k, with no stated balance cap.
In March, I wrote about Triangle CU’s 35-month CD Special (2.25% APY); that CD Special is still being offered. It also requires a minimum $1k deposit.
As stated on Triangle CU’s Rates page, the Early Withdrawal Penalty reads as follows:
If your account has an original maturity date of one (1) year or less: The penalty we may impose will equal three (3) months dividends on the amount withdrawn subject to penalty.
If your account has an original maturity of more than one (1) year: The penalty we may impose will equal six (6) months dividends on the amount withdrawn subject to penalty.
Headquartered in Nashua, New Hampshire, Triangle Credit Union offers membership to individuals who live or work in the New Hampshire counties of Belknap, Cheshire, Hillsborough, Merrimack, and Rockingham, and the Massachusetts counties of Essex, Franklin, Middlesex, and Worcester.
In addition, family members of current Triangle CU members also qualify for membership.
In late 2016, the $6.3 million St. Joseph Hospital Employees Credit Union (Nashua) merged with Triangle CU, adding nearly 1,000 individuals to the membership rolls.
Credit Union Overview
Triangle Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 1.80% (excellent) based on March 31, 2017 data. In the past year, Triangle CU increased its total non-brokered deposits by $42.25 million, an excellent annual growth rate of 8.57%. Please refer to our financial overview of Triangle Credit Union (NCUA Charter # 68210) for more details.
Triangle Credit Union was incorporated in 1939 as the Triangle Federal Credit Union, serving the employees of the Nashua Gummed and Coated Paper Company (now known as Nashua Corporation). In 1996, the Credit Union applied for a state charter, becoming the first federal credit union to change its charter as a result of the court action taken by the American Bankers Association against federal credit unions. The "Federal" part of the name was dropped upon the state charter being granted. Today, Triangle CU has over 51,600 members and assets in excess of $649 million.
How the CD Special Compares
When compared to the 223 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available to within the FOM, Triangle Credit Union's 9-month CD Special APY currently ranks first.
When compared to the 232 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available to within the FOM, Triangle Credit Union's 35-month CD Special APY currently shares top ranking with Primary Bank’s 3-year CD.
The above rates are accurate as of 6/16/2017.