True Sky Credit Union (OK) Offers 1-Year Grand Opening CD Special
Now through July 31, 2021, True Sky Credit Union (True Sky) is offering a 1-year CD earning an outstanding 1.75% APY. The opening deposit requires a minimum of $1k of new money. The maximum deposit is $100k. New money is defined as “funds must be from an institution other than True Sky Credit Union.” As part of the celebration of the grand opening of the newest True Sky branch, the 1-year CD must be opened at the Northeast branch, located at 5029 N. Martin Luther King Avenue in Oklahoma City.
True Sky continues to offer very competitive rates on its standard CDs. I reviewed these in March, and those rates are still in effect. They're not outstanding like this grand opening special, but they are options if you're unable to take advantage of this special or if you have additional funds above $100k.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 2.06% | $500 | $100k | True Sky Credit Union | 13-23 Month CD | |
| 1.86% | $1k | $100k | True Sky Credit Union | 7-12 Month CD |
The Early Withdrawal Penalty for the 1-year CD is 180 days interest on the amount withdrawn. Partial withdrawals are permitted, as long as a $1k minimum balance is maintained.
Thanks to DA reader, jimdog, for his Forum post about this gem of a short-term CD.
Availability
Headquartered in Oklahoma City, True Sky Credit Union’s field of membership (FOM) is residency-based, with individuals who live, work, or attend school in the central Oklahoma counties of Canadian, Cleveland, Grady, Lincoln, Logan, McClain, Oklahoma, or Pottawatomie eligible for membership.
Normally, joining True Sky CU can be done online, but the online application is still temporarily disconnected. CSR stated a new application is “in the works” and should be available soon. While joining can be done at any of the nine Oklahoma branches, opening the 1-year CD (1.75% APY) can only at the new Northeast branch located south of NE 50th on N. Martin Luther King Avenue in Oklahoma City.
The Membership Application can also be downloaded and returned by snail-mail, or brought to any of the above-mentioned branch locations.
At True Sky Credit Union, all members are shareholders. Open a savings account with
as little as $5 to become a member of one of the largest credit unions in Oklahoma.
True Sky CU participates in the CO-OP Shared Branch Network, providing its members with access to more than 5,000 branches and nearly 30,000 ATMs across the country.
Credit Union Overview
True Sky Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 4.96% (excellent) based on March 31, 2021 data. In the past year, True Sky CU has increased its total non-brokered deposits by $114.37 million, an excellent annual growth rate of 19.04%. Please refer to our financial overview of True Sky Credit Union (NCUA Charter # 62568) for more details.
Like so many credit unions, True Sky Credit Union was founded to assist a group of employees help each other with their financial needs. The founding name in 1946 was CAA (Department of Commerce Civil Aeronautics Administration) Employees Credit Union, and was changed to FAA (Federal Aviation Administration) Credit Union in the 1950s, as the Federal Government consolidated the CAA Department with the FAA. A community charter was adopted in 1997, extending membership to residents of the counties surrounding the Oklahoma City Metro area. The True Sky re-brand occurred in July 2016 as the FOM continued to expand. True Sky Credit Union is currently Oklahoma’s seventh largest credit union, with more than 50,000 members and assets in excess of $809 million.
How the Grand Opening CD Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com, requiring similar minimum deposit and available within the FOM, True Sky Credit Union’s 1-year CD APY currently ranks first.
The above rates are accurate as of 7/28/2021.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.
