For a limited time, USE Federal Credit Union (USEFCU) is offering a 17-month CD Special (2.70% APY). The minimum opening deposit is $1k, with no stated balance cap. Unlike all the other CDs in USEFCU’s product line, the 17-month CD Special does not have tiered APYs based on three different deposit levels.
The 17-month CD Special is USEFCU’s most competitive CD: the next highest rate belongs to the 48-month Share Certificate, which earns 2.45% APY on deposit of $100k and above.
As stated on USEFCU’s Deposit Rates page, the Early Withdrawal Penalty reads as follows:
12/24 Month Terms – 180 days’ dividends
USEFCU’s Kasasa Cash has been earning 3.00% APY on qualifying balances up to $10k for more than two years. Qualifying balances over $10k earn 0.25% APY, with non-qualifying balances earning 0.01% APY.
- At least 12 debit card purchases.
- Be enrolled in and log into online banking.
- Be enrolled in and receive eStatements.
The Kasasa Cash account has no minimum balance requirement or monthly service fees, but it does require a minimum $10 opening deposit. There is a limit of one account per Social Security number or ITIN. Nationwide ATM fees will be reimbursed up to $25 per qualification cycle. There is no companion Kasasa Saver account.
Headquartered in Oklahoma City, USE Federal Credit Union’s field of membership (FOM) provides a way for almost any Oklahoma resident to join.
Easy membership - Any Oklahoma resident who joins the Friends of the Metropolitan Library System ($10.00 fee) qualify for USEFCU membership.
Employment - All employees of the U.S. Postal Service, regardless of residency, are eligible to join. In addition, any federal employee who lives in the Oklahoma counties of Canadian, Cleveland, Gracy, Kingfisher, Logan, or Oklahoma also qualifies.
Relationship - Family members and household partners of current USEFCU members are also welcome to apply.
Credit Union Overview
USE Federal Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 1.66% (excellent) based on March 31, 2018 data. In the past year, USEFCU has increased its total non-brokered deposits by $8.88 million, an excellent annual growth rate of 6.49%. Please refer to our financial overview of USE Federal Credit Union (NCUA Charter # 2744) for more details.
USE Federal Credit Union is Oklahoma’s 15th largest credit union, with more than 17,900 members and assets in excess of $166 million. The Credit Union was founded in 1938 by 15 Oklahoma City postal workers, with a total of $248.50 in assets. “USE” is derived from the original name: U nited
S tates E mployees Oklahoma City Credit Union.
How the CD Special Compares
When compared to the 236 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit are available to Oklahoma residents, USE Federal Credit Union’s 17-month CD Special APY currently ranks second.
The above rates are accurate as of 7/28/2018.
Looking for the best CD rates, either nationwide or state specific? Please refer to our CD Rates Table page.