Tropical Financial Credit Union (FL) Nudges 15-Month CD Rate Upward

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Deal Summary: 15-month CD, 2.20% APY, $500 minimum deposit.

Availability: Residents of Broward, Collier, Hendry, Lee, Martin, Miami-Dade, Palm Beach, Sarasota, and St. Lucie Counties, Florida; 300+ SEGs.

At the end of last week, Tropical Financial Credit Union (Tropical Financial) raised the rate on its 15-month CD to 2.20% APY. The minimum opening deposit is $500, with no stated balance cap.

The 15-month CD is also available as an IRA (Traditional and Roth), earning the same APY with the same funding requirements.

As stated in the Truth-in-Savings document, the Early Withdrawal Penalty reads as follows:

If your account has an original maturity of more than one year:

  • The penalty we may impose will equal 180 days interest on the amount withdrawn subject to penalty.

Availability

Headquartered in Miramar, Tropical Financial Credit Union’s FOM is primarily residency based, with individuals who live or work in the Florida counties of Broward, Collier, Hendry, Lee, Martin, Miami-Dade, Palm Beach, Sarasota, or St. Lucie eligible to join.

Employees of more than 300 SEGs (including the city governments of Miami, North Miami Beach, and Fort Pierce) are also eligible join. (A complete list of can be found on the first page of the online application.)

Immediate family members (spouse, child, sibling, parent, grandparent, grandchild, stepparent, stepchild, stepsibling, and adoptive relationships) of current Tropical Financial members are welcome to apply.

Joining Tropical Financial can be done online, or by visiting any of 13 Florida branches located in Boca Raton, Coral Springs, Doral, Fort Lauderdale, Miami (5), Miramar, Pembroke Pines, Plantation, and West Palm Beach.

Opening a CD can be done at any of the above-mentioned branches. Tropical Financial’s Certificate of Deposit Rates page has a “Help Me Open a Certificate of Deposit” link, which leads to a “Contact Me” form.

Please provide us your best contact information below, a TFCU
representative will be in contact to assist with opening your CD shortly.

Opening a Savings Account with a $5 minimum deposit establishes a Tropical Financial membership.

Tropical Financial participates in CO-OP’s Shared Branch and ATM networks.

You have access to over 5,000 nationwide branch locations and 30,000 surcharge-free ATMs.

Credit Union Overview

Tropical Financial Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.52% (excellent) based on September 30, 2019 data. In the past year, Tropical Financial increased its total non-brokered deposits by $30.91 million, an excellent annual growth rate of 4.9%. Please refer to our financial overview of Tropical Financial Credit Union (NCUA Charter # 68476) for more details.

Currently the 23rd largest credit union in Florida, 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 65,000 members and holds assets in excess of $747 million.

How the CD Compares

When compared to 172 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Tropical Financial Credit Union’s 15-month CD APY currently ranks second.

The above rates are accurate as of 2/10/2020.

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

Related Pages: Miami CD rates, West Palm Beach CD rates, 1-year CD rates

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

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Tropical Financial CU (FL) Celebrates 80th Anniversary with 11-month CD
Availability: Residents of Miami-Dade, Broward, Palm Beach, and Sarasota Counties, Florida

Tropical Financial Credit Union (Tropical Financial) is celebrating its 80th anniversary with an 11-month Certificate (3.00% APY). The Certificate (CD) has a minimum opening deposit of $500 and a maximum deposit of $5K.

The 11-month CD is also being offered as an IRA (Traditional and Roth) at the same APY and with the same funding limitations.

We are celebrating BIG with a special 80th Anniversary CD Offer. Earn 3.00% APY on an 11-month Regular Certificate of Deposit or...

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Tropical Financial CU (FL) Has Top Rate 7-month CD - Limited Time Offer

Tropical Financial Credit Union (Tropical Financial) is spreading a little Florida sunshine with a new 7-month CD (1.25% APY). This limited-time offering requires a $5K minimum opening deposit, with no maximum balance cap. The 7-month CD is also offered as an IRA (Traditional, Roth, and Roth Conduit) with the same funding requirements.

As stated in Tropical Financial’s FAQs, the Early Withdrawal Penalty on this 7-month CD is a substantial 90 days penalty.

Availability

Tropical Financial Credit Union’s membership eligibility requirements are mainly residency based:

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4.50% 11-Month / 4.75% 24-Month CD at a Florida CU (Tropical Financial)
Tropical Financial Credit Union has some special CD rates.. The best rates require a minimum deposit of $50,000 and include:
  • 4.25% APY 7 months
  • 4.50% APY 11 months
  • 4.65% APY 18 months
  • 4.75% APY 24 months
  • 5.30% APY 60 months
With a $500 minimum deposit, the rates are 25 basis points lower (except for the 11-month term). These rates require members to have a Plus Relationship. Without this, the rates are 25 basis points lower. These certificates are also available in an IRA.

Membership is open to those who live or work in Miami-Dade, Broward, Palm Beach...


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4.25% 6-Month CD at a Florida CU (Tropical Financial).
Update 3/29/08: The CD rates have fallen. Please check the credit union's website for the latest rates.

Tropical Financial Credit Union is offering a special 6-month CD with a yield as high as 4.25% APY for a minimum deposit of $50,000. The yield is 4.00% APY for a $500 minimum deposit. These rates require members to have a Plus Relationship. Without this, the rates are 0.25% lower. This CD is also available in an IRA.

Membership is open to those who live or work in Miami-Dade, Broward, Palm Beach and Sarasota Counties....



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