FAA Credit Union (OK) Has Top Rate 36-47 Month CD - Local Only


FAA Credit Union (OK) has a top-rate 36-47 month CD (1.91% APY). The minimum opening deposit is $500 and there is no maximum balance cap. This 36-47 month CD is also available as an IRA (Traditional and Roth) at the same rate, with the same balance requirements. According to CSR, the Early Withdrawal Penalty (EWP) is 90 days interest.

An interesting side note concerning the EWP: during the Federal Government shutdown in October 2013, FAA Credit Union offered several financial options to assist current members who were government employees; one of these options was no penalty on early CD withdrawals.

1.26%$500-True Sky Credit Union36-47 Month CD
1.26%$500-True Sky Credit Union36-47 Month IRA (Traditional, Roth)
Accounts mentioned in this post. Rates as of October 20, 2017.


Membership eligibility in FAA Credit Union is residency based. Anyone who lives, works, worships, or attends school in the Oklahoma Counties of Canadian, Cleveland, Grady, Lincoln, Logan, McClain, Oklahoma and Pottawatomie is eligible for membership.

Joining FAA Credit Union requires either an in-person visit to any of seven branches located in Edmond, Mustang, Norman, and Oklahoma City (4), or printing the FAA Quick Membership Application and returning it by mail. Opening a CD requires a branch visit.

Credit Union Overview

FAA Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas ratio of 4.54% (excellent), based on June 30, 2014 data. In the past year, FAA Credit Union improved its Texas ratio by 85.44%, indicating a dramatic improvement in its balance sheet and financial strength. Please refer to our financial overview of FAA Credit Union for more details.

Like so many credit unions, FAA (Federal Aviation Agency) Credit Union (NCUA Charter # 62568) was founded to help 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 in the 1950s when the Federal Government consolidated the CAA Department with the FAA. In 1997, FAA Credit Union adopted a community charter, extending membership to residents of the counties surrounding the Oklahoma City Metro area. Today, FAA Credit Union has close to 50,000 members and assets in excess of $562 Million.

How the Rate Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com, with a $500 minimum deposit and available to Oklahoma residents, FAA Credit Union’s 36-47 month CD is highly competitive.

Interest Rate CD Length Institution
1.91% APY 36-47 month CD Special FAA Credit Union
1.71% APY 35-month CD Special USAlliance Credit Union
1.60% APY 36-month CD First Technology Federal Credit Union

These rates are accurate as of 10/10/2014.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.

High-Yield Reward Checking Account at an Oklahoma Credit Union (FAA)

Update 12/31/10: The top rate has fallen to 4.10% APY.

FAA Credit Union has a reward checking account called Optimum Checking that pays 4.10% APY on balances up to $30,000 (0.25% for above) and refunds ATM fees if the following monthly requirements are met: 1) 12 signature based check card transactions, 2) active direct deposit, 3) receive electronic statements, and 4) access online banking. If these are not met, the rate falls to 0.25%. There are no monthly fees or minimum balance requirements.

Membership is open to anyone that lives, works, worships,...

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3.61% 15-Month CD & 3.45% 9-Month CD at FAA Credit Union in Oklahoma
FAA Credit Union is offering 3 competitive share certificate specials. These include a 3.45% APY 9-month CD, a 3.61% APY 15-month CD and a 3.82% APY 35-month CD. The two short-term CDs have a $1,000 minimum deposit and the 35-month term has a $500 minimum. These appear to also be available as IRA certificates. These special rates are listed in the credit union's rate table as of 1/16/2009. The rate table has an effective date range of 1/15/09 to 1/21/09.

The credit union continues to offer a reward checking account that...

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