Truliant Fed Credit Union 11- and 17-Month CD Specials Still Competitive

Shortly after North Carolina-based Truliant Federal Credit Union (Truliant) raised the rate on its 17-month Certificate Special to 5.55% APY in September, Truliant unveiled an 11-month Certificate Special earning an excellent 6.25% APY. The good news is that both Certificate Specials are still available; the not-so-good news is that the 11-month Certificate Special rate dropped in early November. While the 11-month Certificate Special now offers 5.70% APY, it has maintained its competitiveness as the 1-year CD rates landscape continues to shift downward.

The minimum opening deposit for either Certificate Special is $5k of new money. As stated in the fine print on the landing page, the “entire balance must come from funds not currently on deposit at Truliant.” While there is no stated balance cap, CSR mentioned that opening a Certificate Special with more than $250k can only be done in person at a Truliant branch.

The Certificate Specials are also offered as IRA Certificate Specials (Traditional, Roth, CESA, SEP), earning the same APYs with the same deposit requirements.

As stated at the bottom of the landing page, the Early Withdrawal Penalty reads as follows:

Term of at least 12 months but less than 48 months:

180 days of dividends or dividends since opening/renewal, whichever is less.

According to CSR, partial withdrawals are allowed, but if the balance should fall below $5k, the Certificate Special will be closed.

Availability

Headquartered in Winston-Salem, North Carolina, Truliant Federal Credit Union’s field of membership (FOM) includes a limited easy membership requirement (EMR): U.S. citizens and resident aliens, 18-years or older, who live in Georgia, North Carolina, South Carolina, Tennessee, or Virginia are eligible to join Truliant through an American Consumer Council (ACC) membership.

Truliant’s online application lets you join the ACC and the credit union simultaneously.

Once we receive your information, we will contact you within two business days to answer any questions you may have regarding your membership. After you're approved for membership, you may receive a welcome letter from the ACC.

Membership is also open to those who live, work, worship, or attend school in counties in North Carolina (26), Virginia (10), South Carolina (1), or Tennessee (1).

• North Carolina – Alamance, Alexander, Alleghany, Cabarrus, Caswell, Catawba, Chatham, Cleveland, Davidson, Davie, Forsyth, Gaston, Guilford, Iredell, Lee, Mecklenburg, Montgomery, Orange, Randolph, Rockingham, Rowan, Stanly, Stokes, Surry, Wilkes, or Yadkin Counties
• Virginia – Chesterfield, Grayson, Henry, Henrico, Montgomery, Pulaski, Russell, Smyth, Washington, or Wythe Counties
• South Carolina – Greenville County
• Tennessee – Johnson County

Employees of more than 1,600 Select Employers Groups also qualify for membership.

Immediate family or household members of an existing Truliant members are welcome to apply.

Account Opening

Joining Truliant and/or opening a Certificate Special can be done online, by phone (800.822.0382), or at any of 29 North Carolina branch locations in Asheboro (2), Burlington (2), Charlotte (7), Clemmons, Gastonia, Graham, Greensboro (4), Harrisburg, High Point (2), Huntersville, Matthews, Mebane, Mint Hill, Shelby, and Winston-Salem (3). There are also three Virginia branches in Damacus, Fairlawn, and Wytheville and three South Carolina branches, located in Easley and Greenville (2). Appointments are available and can be scheduled online.

A minimum $5 deposit in a Membership Savings Account establishes a Truliant membership.

Funding and Other Details

The following information is from a conversation with CSR.

• Funding – ACH, wire ($10 fee), or shared branch transfer.
• CO-OP Shared Branch Participant – Yes.
• Dividends – Compounded daily/credited monthly, but must remain in the Certificate Special.
• Maturing Funds – ACH, wire ($25 fee), cashier’s check, or internal transfer to an existing savings/checking account.
• Beneficiaries – Unlimited, but it is a “first come, first served” situation. Should a payout occur, whichever beneficiary presents the paperwork to Truliant first will be granted ownership of the account. Social Security numbers required for all named beneficiaries.
• Grace Period – 7 calendar days before automatic renewal (11-month will renew as a 12-month and 17-month will renew as an 18-month).
• Credit Check – Soft pull will be run as part of the application process.

Credit Union Overview

Truliant Federal Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 5.82% (excellent) based on June 30, 2023 data. In the past year, Truliant has increased its total non-brokered deposits by $253.96 million, an excellent annual growth rate of 7.21%. Please refer to our financial overview of Truliant Federal Credit Union (NCUA Charter # 7840) for more details.

Truliant Federal Credit Union is currently the third largest credit union headquartered in North Carolina, with more than 316,000 members and assets in excess of $4.5 billion. Established in 1952 as the Radio Shops Credit Union, the original FOM was exclusive to Western Electric employees in Winston-Salem, Greensboro, and Burlington. The credit union rebranded three times: North Carolina Works Federal Credit Union (1954), AT&T Family Federal Credit Union (1983), and Truliant Federal Credit Union (1999).

According to a 2022 press release,

Truliant Federal Credit Union announced today that it has been approved as a Community Development Financial Institution (CDFI) by the U.S. Department of the Treasury’s CDFI Fund.

The CDFI certification allows qualified financial institutions to access grants and other federal funds to provide financial products and services in low-income communities for local residents and businesses. Truliant’s application was approved earlier this month.

“The CDFI designation increases our ability to provide financial services to the communities that need it most,” said Anderson Langford, chief operations officer at Truliant. “We are excited about the range of loan possibilities and opportunities that we will be able to bring to these communities in the future.”

How the 11-Month Certificate Special Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM and have minimum deposit requirements of $10k or less, two credit union have higher rates than currently offered on the Truliant Federal Credit Union 11-month Certificate Special. The following table compares the 11-month Certificate Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

How the 17-Month Certificate Special Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM and have minimum deposit requirements of $10k or less, one bank and one credit union have higher rates than currently offered on the Truliant Federal Credit Union 17-month Certificate Special. The following table compares the 17-month Certificate Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 12/11/2023.

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