Truity Credit Union (Truity CU) began September by introducing a 24-month Bump Share Certificate (2.00% APY). The minimum deposit is $2k, with no stated balance cap.
According to the fine print on the Rates page,
You may take advantage of a one-time bump option at the 5-year rate.
The Bump Share Certificate is also offered as an IRA (Traditional), earning the same APY with the same funding requirements.
As stated on the Rates page, the Early Withdrawal Penalty reads as follows:
Early withdrawal on certificates 91 days through 24 months will result in a
penalty equal to 90 days dividend, at the certificate rate, on the amount withdrawn.
$100 Checking Bonus
Now through September 30, 2017, Truity CU is offering a $100 bonus when opening a new checking account. There are no special requirements to earn the bonus. The only restriction is,
If your household already has a Truity checking account, you do not qualify.
Headquartered in Bartlesville, Oklahoma, Truity Credit Union’s field of membership (FOM) seems a bit disjointed, but the Credit Union’s roots in the oil and gas industry is the main unifying factor.
Easy Membership: Residents of Bartlesville (OK), Lawrence (KS), or Springdale (AR) who join the Truity Education Foundation, Inc. ($25 fee), qualify for membership.
Employment/Affiliation: Employees and members of more than 200 companies and organizations (including ConocoPhillips, General Dynamics, Phillips 66, and Tyson Foods) are membership eligible.
Relationship: Immediate family members (spouse, child, parent, sibling, grandchild, grandparent, including step and adoptive) and individuals “living in the same residence maintaining a single economic unit” of current Truity CU members are also eligible to join.
While some products, namely checking and Money Market accounts, can be opened online, the 24-month Bump Share Certificate must be opened in person at any of the above mentioned branch locations or by calling 800.897.6991.
Credit Union Overview
Truity Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 6.06% (excellent) based on June 30, 2017 data. In the past year, Truity has increased its total non-brokered deposits by $14.57 million, an above average annual growth rate of 2.11%. Please refer to our financial overview of Truity Credit Union (NCUA Charter # 3130) for more details.
Truity Credit Union is currently is the fifth largest credit union headquartered in Oklahoma, with more than 68,100 members and assets in excess of $784 million. The Credit Union was established in 1939 by the Jane Phillips Sorority in Bartlesville, and became known as the 66 Federal Credit Union.
Mildred Hunt was the first treasurer and she conducted credit union business at her desk in the pipeline department at Phillips Petroleum Company during her lunch break and after hours. At that time a single quarter opened a savings account which allowed members to obtain unsecured loans up to $50.
The Truity re-brand occurred in 2013 to help convey that Phillips Petroleum Company and ConocoPhillips were not the only two employee groups served by the Credit Union, and “help position the Credit Union for future growth and financial strength.” In case you were wondering, “Truity” represents a combination of trust and integrity.
How the Bump Share Certificate Compares
When compared to the other similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available within the FOM, Truity Credit Union’s 24-month Bump Share Certificate APY currently shares the top spot with USALLIANCE Financial’s 25-month CD.
The above rates are accurate as of 9/9/2017.