USPS Federal Credit Union Offers 2-Year CD, 3.25% APY

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Deal Summary: 2-year e-MISCA Certificate, 3.25% APY, $10k minimum deposit

Availability: Easy membership requirement

Many thanks to DA reader, me1004, for the Forum post about U S Postal Service Federal Credit Union’s (USPS FCU) 2-year e-MISCA Certificate, which earns 3.25% APY. The minimum opening deposit is $10k, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.15%$10k-U S Postal Service Federal Credit Union2 Year e-MISCA
Rates as of July 22, 2019.

GOOD NEWS! The CSR I spoke with stated she had just received an updated marketing packet today, and there is no mention of any rate change or planned end-date for the 2-year e-MISCA Certificate.

MISCA is an acronym for Monthly Income Share Certificate Account, which is designed to,

transfer monthly dividend payments to your USPS FCU Share Savings or Checking Account as an income supplement.

As stated in USPS FCU’s Truth-in-Savings disclosure, the Early Withdrawal Penalty reads as follows:

On qualifying periods over one year, there will be a penalty equivalent to 180 days of dividends, with the exception of the IRA 2 year and IRA 5 year certificates which carries a penalty of 270 days of dividends.

Availability

Headquartered in Clinton, Maryland, U S Postal Service Federal Credit Union’s field of membership (FOM) permits almost anyone to join:

Easy membership: Members of the American Philatelic Society are eligible to join USPS FCU.

As me1004 noted in the Forum post, the “cost of joining the Philatelic Society is $45 for one calendar year -- but they pro-rate depending on when you join during the year. Currently it is $25.xx for the remainder of this year. It will continue to go down as the year progresses. When you pay at the Philatelic Society's Website, they will e-mail you a receipt immediately, and that is all you need to join the CU.”

Employment: Employees and retirees of the United States Postal System, regardless of residency status, qualify for membership.

SEGs: Employees and members of more than 60 Select Employee Groups are membership eligible.

Relationship: Family and household members of current USPS FCU also qualify.

Joining USPS FCU can be done in person at any of the seven branches located in Mission Hills and San Fernando (CA), Washington (DC), Capital Heights and Clinton (MD), Raleigh (NC), and Pittsburgh (PA), or by mailing, faxing (301.856.4061), or returning a completed membership application to any branch location.

NOTE: While USPS FCU does not have an online application available on their website, existing members can open e-Certificates through the Virtual Branch Banking platform.

A Regular Share Account is required to maintain a USPS FCU membership.

Opening a Regular Share Account costs $10 for one share purchase. $5 of the $10 will cover your membership fee and the other $5 is deposited into your share account.

USPS FCU participates in the CO-OP Shared Branch network, giving its members access to more than 5,000 shared branches throughout the country.

No matter where you may be on the road, your Credit Union is now as close as the nearest CO-OP Shared Branch location. With so many locations available, members are able to access their USPS FCU account while traveling, or if they relocate hundreds of miles from a local USPS FCU branch.

Credit Union Overview

U S Postal Service Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 6.55% (excellent), based on December 31, 2018 data. In the past year, USPS FCU increased its total non-brokered deposits by 20.61 million, an excellent annual growth rate of 10.77%. Please refer to our financial overview of U S Postal Service Federal Credit Union (NCUA Charter # 16402) for more details.

U S Postal Service Federal Credit Union is currently the 24th largest credit union headquartered in Maryland, with more than 24,700 members nationwide and assets in excess of $239 million. USPS FCU was established in 1934 by seven Maryland postal employees and eventually was granted a nationwide charter. At this time, there are more than 50 credit unions in the U.S. that have the word “Postal” in their names and are affiliated with the USPS, but their FOMs are limited to a specific geographic area.

How the e-MISCA Certificate Compares

When compared to 215 similar length-of-term IRA CDs tracked by DepositAccounts.com that require a minimum deposit of $10k or less and are available nationwide, U S Postal Service Federal Credit Union's 2-year e-MISCA Certificate APY currently ranks first.

The above rates are accurate as of 5/30/2019.

Searching for the best CD rates, either nationwide or state specific? Please refer to our CD Rates Table page.

Related Pages: Pittsburgh CD rates, Washington CD rates, Raleigh CD rates, Los Angeles CD rates, 5-year CD rates, nationwide deals

Comments
RRR
RRR   |     |   Comment #1
Interesting account from an interest perspective. If the interest is paid out monthly and not compounded, that implies it has a simple interest rate of 3.25%. That's means you can take those interest payments and reinvest them somewhere else to get an effective overall yield higher than 3.25%.
Sandra
Sandra   |     |   Comment #3
According to this page the APR is 3.20%.
https://www.uspsfcu.org/rates/e-certificate-rates/
Detail Devil
Detail Devil   |     |   Comment #4
Sounds great... but if you use shared branching, it's $5.75 per check withdrawal.
https://www.uspsfcu.org/site_assets/files/ADA%20Disclosures/ADA_SB_FAQs_and_Fee_Schedule_A.pdf

Not sure if you can link an external account to ACH pull out of?
Sandra
Sandra   |     |   Comment #2
I think the "APY" would be a little lower since you are required to withdraw the interest every month. The APY and APR would be the same, and about 3.20%. Their Savings Account has a $250 minimum balance and pays a paltry 0.05%.
RRR
RRR   |     |   Comment #6
I haven't looked at the details of the account, but the information is confusing. Yes, if the account pays out all of its interest and doesn't compound then the APR and APY should be the same. It would just be simple interest. So I'm not sure why the APR an APY are different. If they are, that means it's assumed that interest stays in the account and there is compounding.
losingtrader
losingtrader   |     |   Comment #10
C'mon....it's the post office. You really believe they know the difference between APR and APY?
me1004
me1004   |     |   Comment #11
Yes, I see that, thanks, they do seem to impose that fee on their own members -- unless you re in their Relationship Rewards program. I have never seen that at any shared branch before. The only one I know doing something similar is Financial Partners FCU, which is in the shared branch system, but only for incoming, not for outgoing.

Still, you can alternately open a free checking account with this CU, and they will give you 50 free checks up front. Use those instead, and you won't even have to a make a trip to the shared branch.

As for the fee for cash withdrawals at a shared branch, you can't get more cash from a shared branch than you can get from an ATM, so use the ATM instead. When you want more than the ATM amount from a shared branch, you have to take it in a check and pay about $5 for that check.

As for the fee for deposits at a shared branch, gee, I'm am not going to pay to give them money. I don't see how you get around that other than to mail in your check other than to deposit at an ATM that takes deposits of cash or checks -- but a cash deposit at an ATM would be limited amount per day. Fortunately for me, I an near a branch, if about 22mnielsisnear. But I don't want to drive 44 miles round-trip to deposit money -- and pay for the cost of the gas, about the cost of the fee for a shared branch.
NYCnative
NYCnative   |     |   Comment #5
Anyone know if the CU does a hard or soft pull? And which credit bureau is used if a security freeze needs to be lifted on a credit report?
RickZ
RickZ   |     |   Comment #8
Hard, Transunion.
RichReg
RichReg   |     |   Comment #7
Just an F.Y.I.; Membership fee for the American Philatelic Society goes down to $14.25 in September,
if anyone cares to chance a wait that long. After which it goes back up to the full $45...
willy12
willy12   |     |   Comment #9
Wonder where they get $14.25? Not evenly divisible by $45.

Before you posted, I was thinking it might be monthly and it would be cheapest the last month. Apparently not.
(I don't need this CD right now but was thinking I would join anyway for $3.75 for future deals but I'm not paying $14 or $45) They should make a way to join cheaper.
QED
QED   |     |   Comment #12
Wonder if the fee will decline just a bit tomorrow, June first, or at least by Monday, with May then in the rear view mirror. It might be worth waiting a day before joining today, just to see what happens once May is out of the way.  We are so close.  Scant few hours of May remain.
willy12
willy12   |     |   Comment #13
Interesting fees for using shared branches. Are these the exact fees they are charged by other CUs or is this a profit center for them? They would certainly dissuade me from using a shared branch. And might dissuade me from joining. (That and the $14-45 fee)

Shared Branching Fee Schedule*
Effective: August 1, 2018
Transaction History $2.00
Withdrawals:
Cash Withdrawal
Check Withdrawal
Cash Back on Previous Deposit
$4.50
$5.75
$3.25
Transfers $3.25
Deposits:
Cash Deposits
Check Deposits (1 to 5 checks)
Check Deposits (6 to 10 checks)
Check Deposits (11 or more checks)
$4.25
$4.50
$6.50
$7.50

https://www.uspsfcu.org/site_assets/files/ADA%20Disclosures/ADA_SB_FAQs_and_Fee_Schedule_A.pdf
Sylvia
Sylvia   |     |   Comment #14
I share your concern, willy. $4.25 to deposit cash; $4.50 to $7.50 for check deposits, depending on # of checks? Wow, I’ve never seen anything like this. It’s clear they want shared branching to be your service channel of last resort. They do waive such penalties for members in their Relationship Rewards program. Having a CD of $25K and more is one way to qualify, https://www.uspsfcu.org/member-resources/relationship-rewards/
Anon
Anon   |     |   Comment #15
Website APY 3% as of June 1st - sure don't last long anymore
gmohan123
gmohan123   |     |   Comment #16
It’s June 1 and e-certificate rates are still at 3.25% for 24 months. Not sure where you saw 3%
Anon
Anon   |     |   Comment #17
Sorry my bad MISCA rate 3% must make sure it’s e-MISCA rate still same - apologies
CuriousDave
CuriousDave   |     |   Comment #18
Has anyone been able to have this CU clarify exactly what interest rate applies? For a nominal rate of 3.20% to yield an APY of 3.25% implies that interest is reinvested at 3.20%. How is that possible if interest is paid into a non-interest bearing checking account rather than automatically reinvested?
#19 - This comment has been removed for violating our comment policy.
gmohan123
gmohan123   |     |   Comment #20
I was able to open one today and have by default Interest re-deposited netting 3.25% for 24 Months. Need to create an online account to get this rate. Always a fear now I am dealing with the govt agency USPS and my experience from Post Office comes in mind immediately ..
Numb d
Numb d   |     |   Comment #21
You think USPS manages the credit union?
orleans704
orleans704   |     |   Comment #22
You got lucky. Its down to 3% now.
Rosedala
Rosedala   |     |   Comment #23
Hi orleans704, I'm opening one right now and it's at 3.25%. Maybe the rate came down 25 points from half hour ago that I saw it in their site? Wow!!! I hope not!!! :)
seeker jona
seeker jona   |     |   Comment #24
Thank you AS ALWAYS kind watchful Rosedala!
Orleans704
Orleans704   |     |   Comment #25
Sorry, MISCA is 3% but e-MISCA is 3.25
Orleans704
Orleans704   |     |   Comment #26
How long did it take from start to finish, from joining stamp club to having 3.25% CD?
Rosedala
Rosedala   |     |   Comment #27
Hi Orleans704, I just mailed their membership form with the enclosures they asked for and don't expect to hear from them until next week. And about the actual CD...who knows? lol! But I'll let you know if/when I get their confirmation....or decline!
Rosedala
Rosedala   |     |   Comment #28
Forgot to ask...what exactly means MISCA or e- MISCA in terms of this Credit Union's offer, anyone knows? thanx.
willy12
willy12   |     |   Comment #29
Monthly Income Share Certificate (MISCA)
Rosedala
Rosedala   |     |   Comment #30
Thanks willy12, what I mean is do they send you the monthly interest? It was impossible to get through their phones today...

(I'm sorry that before I had a chance to publish this post, I was sent to the sign-in page which I signed in, then I came back to this page and... message gone... :(
willy12
willy12   |     |   Comment #31
Id imagine they can deposit the interest in the share account or you can let it accumulate.
Rosedala
Rosedala   |     |   Comment #34
Oh no Willy, I understood it to be a CD of 3.20% with API of 3.25%, not to put it in a share account. Maybe I didn't understand, and their phone lines continue to be inaccessible. I did leave my phone # Monday morning as they suggested but no callback...
(Meantime...it happened again - asking to sign in before I clicked on "Reply" and then delete my msg. Wonder if this is supposed to be so, or some glitch?).
willy12
willy12   |     |   Comment #38
I thought you were asking if they would send dividend checks. Most places would probably prefer not to when ACH is so easy.

I have not yet opened an account but might at the end of august when my next CD matures. I might also go with Keesler where I already have an account or Andrews if they have a new deal at that time. (I guess not if it ends June 28h as I don't have much available right now...I guess I could pull $50k from my 2 RCAs but probably won't especially if the fee for joining is high)

I clicked on the site to try and determine the prorated fee for joining whatever Id have to join but I got a blank page in every browser I tried.

And I did not call.
willy12
willy12   |     |   Comment #39
Edit...I just called. Its $25.50 now. Will be $14.25 for July, August & Sept.

I am probably not going to pay that to join for a relatively small CD right now. (Although if rates keep dropping I may regret it)

The Keesler deal, I think is expected to continue. Its a lower blended rate and I think a 30 month term but it starts at 2% which is nice for tax deferral.

Also, I expect Andrews to come up with something new for everyone who did the 6 month 3.25%.

Another alternative is to INVEST the proceeds of my next 2 CDs in index funds.
(Because I am under invested given my age)
orleans704
orleans704   |     |   Comment #32
Rosedala, What enclosures did they ask for?
orleans704
orleans704   |     |   Comment #33
I mailed my form Monday (yesterday). She told me the rate ends June 28. You create the e-MISCA yourself online with funds placed in their checking or savings account. All that has to be complete by next Friday.
Rosedala
Rosedala   |     |   Comment #36
Oh orleans I too sent the form and enclosures yesterday Monday. Wow we only have 10 days before they end this promo. I called them again today and after the longest hold in my life I finally got someone very kind and helpful who said the funds will go automatically to a CD, BUT, they also offer the option of putting the interest accrued into a share or checking or any other you choose.

Too bad I/we couldn't have faxed the form because of the enclosed check, I just snail-mailed it and it'll probably be at the very end of the tallest pile of forms ever! lol!
#37 - This comment has been removed for violating our comment policy.
orleans704
orleans704   |     |   Comment #42
They received my check and forms yesterday (Wed) and I received an email the account was open today (Thurs). I moved money from the check (placed in Savings with the $5 base) into the e-MISCA online. Pretty easy.
Rosedala
Rosedala   |     |   Comment #35
They asked for a check for $10 for their share savings and copy of drivers license. They all ask for IDs, some more than others. :)
Rosedala
Rosedala   |     |   Comment #40
Hello Ken Tumin, this is the 3rd time I wrote a post here and before having the chance of copying it to my clipboard, I was sent to sign in and on returning my post was gone... Are we now supposed to copy our posts right after writing them?  I just forgot to do it and each time I wrote I had to re-right it.... :(

Or am I doing something wrong maybe?  This time I remembered to copy this one, so it'll go to you...
P.S.  Another strange thing.  I used "Edit" to correct this post, but when I click on "Save Changes" it shows the old one, so this won't appear....
???
???   |     |   Comment #41
Are you posting from the BLOG or the FORUM?
The Forum will always make you sign into your account and you'll lose the post.
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