Tropical Financial CU (FL) Offers Limited-Time 13-Month CD

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Availability: Residents of Broward, Collier, Hendry, Lee, Martin, Miami-Dade, Palm Beach, Sarasota, and St. Lucie Counties, Florida; 200+ SEGs.

Tropical Financial Credit Union (Tropical Financial) started the week by introducing a limited-time 13-month CD Special (1.75% APY). The minimum opening deposit is $15k of new money, with no balance cap.

The 13-month CD Special is also being offered as an IRA (Traditional and Roth) earning the same APY, with the same funding requirements.

As stated in Tropical Financial’s FAQs page, the Early Withdrawal Penalty reads as follows:

Terms over 12 months have a 180 day penalty.
.

Availability

Headquartered in Miramar, Tropical Financial Credit Union’s membership eligibility requirements are mainly residency based, with individuals who live or work in Broward, Collier, Hendry, Lee, Martin, Miami-Dade, Palm Beach, Sarasota, or St. Lucie Counties eligible to join.

Membership eligibility is also extended to individuals who live or work in the follow Zip Code areas: 33455 (Hobe Sound), 33458 (Jupiter), 33469 (Tequesta), 33477 (Jupiter/Tequesta East), or 33478 (Jupiter/Tequesta West).

In addition, employees of over 200 SEGs (including some national companies) are eligible. For a complete list, please refer to Tropical Financial’s Application Disclosure page. (The Application Disclosure page is time-sensitive, so the link goes to Tropical Financial's home page.)

Joining Tropical Financial can be done online or by visiting any of nine Florida branches located in Coral Springs, Fort Lauderdale, Miami (2), Miramar (2), Pembroke Pines, Plantation, and West Palm Beach.

The 13-month CD Special promotion page has a "Contact Us" form to initiate the opening of the CD.

New to Tropical Financial? Call us at 888-261-8328 to open your account,
or fill out the form below and a TFCU representative will call to assist you.

Credit Union Overview

Tropical Financial Credit Union (NCUA Charter # 68476) has an overall health grade of "B+" at DepositAccounts.com, with a Texas ratio of 6.94% (excellent) based on December 31, 2015 data. In the past year, Tropical Financial increased its total deposits by $36.38 million, an excellent annual growth rate of 7.40%. Please refer to our financial overview of Tropical Financial Credit Union for more details.

Tropical Financial Credit Union began its journey in 1935 when Southern Bell (later BellSouth and now AT&T) organized the credit union. By the end of the second day of business, the credit union had over $800 in deposits and had made over $400 in loans, and at year’s end held assets of $11,775.

The adoption of a state charter provided further expansion opportunities to include defined communities, as well as continued SEG growth. In 2005, Tropical Financial became the first full service financial institution in the State of Florida to receive the prestigious Florida Governors Sterling Award for Organizational Performance Excellence. Today, Tropical Financial has more than 53,100 members and holds assets in excess of $587 million.

How the CD Compares

When compared to the 176 similar length-of-term CDs tracked by DepositAccounts.com, that require a similar minimum deposit and are available to Florida residents in the Miami-Ft. Lauderdale metropolitan area, Tropical Financial Credit Union’s 13-month CD APY currently ranks first.

The above rates are accurate as of 4/26/2016.

To look for the best CD rates, both nationwide and in your state, please refer to our CD rates table, or our new Rates Map page.

Comments
Anonymous
Anonymous   |     |   Comment #1
That is an absolutely eye-popping rate for such a short term CD!  I would be all over this if only I could qualify for membership which, sadly, I cannot.
Anonymous
Anonymous   |     |   Comment #4
Find a relative or...that qualifies for membership, ask them to open a joint tenant account with you, you can then open your own membership!  Ohhhhhhhhh the promised land is close at hand!
Kirkland
Kirkland   |     |   Comment #2
Over the phone, they say they only post the interest quarterly and do not mail out the interest checks. Does that make sense on a 13 month CD?
rickz
rickz   |     |   Comment #3
Ken, Thank you for posting this deal which, all things considered, is quite good. I opened a CD in the Coral Springs branch this afternoon. The credit union representative told me that she has opened a few of these CDs since the special was introduced on 4/22/16. From the way that they are promoting the CD (e.g., posters, flyers, special gift) it seems to be more than a very temporary offering but, as we know from experience, you never can tell how long it will be available.
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