US Postal Service FCU Ups 24-Month IRA CD APY


Deal Summary: 24-month IRA Certificate, 3.00% APY, $250 minimum deposit

Availability: Easy membership requirement

With Tax Day approaching, U S Postal Service Federal Credit Union (USPS FCU) has raised the rate on its 24-month IRA Certificate (3.00% APY) by an impressive 225 basis points. The minimum deposit is $250, with no stated balance cap.

2.35%$250-U S Postal Service Federal Credit Union2 Year IRA (Traditional, Roth, CESA)
Rates as of May 20, 2019.

This is the time of year when banks and credit unions begin to offer good IRA deals, and I expect to see more in the next few months. According to the IRS Traditional and Roth IRAs page, "you can make 2017 IRA contributions until April 17, 2018."

The fine print on the Savings Rates page states,

Must have a Regular IRA Savings Account in order to open.

As stated in USPS FCU’s Agreements & Disclosure, brochure, the Early Withdrawal Penalty reads as follows:

On Share Certificate Accounts with qualifying periods over one year, a forfeiture of 180 days’ dividends will be subtracted from the principal amount of the certificate.

Any withdrawal from a Share Certificate Account will serve to cancel the certificate.


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.

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

SEGs: Employees and members of more than 90 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, or returning the membership application to any branch location.

The IRA Certificate can be opened at any of the above mentioned branch locations, or by mailing or faxing the Savings Account Application.

Credit Union Overview

U S Postal Service Federal Credit Union has an overall health grade of "A" at, with a Texas Ratio of 5.79% (excellent), based on September 30, 2017 data. In the past year, USPS FCU increased its total non-brokered deposits by 8.43 million, an excellent annual growth rate of 4.59%. 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 25th largest credit union headquartered in Maryland, with more than 22,800 members nationwide and assets in excess of $215 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 have are affiliated with the USPS, but their FOMs are limited to a specific geographic area.

How the IRA Certificate Compares

When compared to the 176 similar length-of-term IRA CDs tracked by that require a similar minimum deposit and are available nationally, U S Postal Service Federal Credit Union's 24-month IRA Certificate APY currently ranks first.

The above rates are accurate as of 1/24/2018.

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

Related Pages: Pittsburgh banks, Washington banks, Raleigh banks, Los Angeles banks, IRA CD rates, nationwide deals

jimdog   |     |   Comment #1
This is a great credit union as far as my experience. Reps are experienced and polite. I was able to open this 3 % IRA cd very quickly. This is a super good rate compared to others!
me1004   |     |   Comment #2
A shame it is for IRAs only.
Amos   |     |   Comment #4
And the dues to the Society are not cheap, if that is how one chooses to qualify.
Kaight   |     |   Comment #3
Thank you, Ken. This is one heckuva deal, a spectacular deal.
gregk   |     |   Comment #12
Oh come on. 3% for anything and under any conditions could never in any wise be called "spectacular".

It's a credible offer I would say, but no more than that.
SYC   |     |   Comment #5
There is cost/timing risk here. Their next rate changes (including this one with APY 3%) are due for 2/1/18 (5 business days from now). If not a current member, you may want to hold off until 2/1/18 from spending $36.75 to join through American Philatelic Society if you are not able to submit your membership application in-person at one of their branches with a check or money order of $10 ($5 membership fee and $5 minimum savings deposit) or willing to pay for next day delivery of your membership application with check.
Billpayer   |     |   Comment #7
Good advice SYC!!

jimdog   |     |   Comment #29
Hold off and you will miss one of the best 2 yr. deals out there. I'm totally convinced the rate will fall not rise!
jimdog   |     |   Comment #47
Yes, it fell and fell hard, now down to 1.75%!!!!!!!!!!!!
Billpayer   |     |   Comment #6
Does anyone know if they perform a hard or soft credit pull?
steve   |     |   Comment #8
SYC - I do not understand how waiting till 2/1/15 beats the American Philatelic $36.75 fee. In order to join the credit union, you have to be a member of 1 of the employee groups. Which group should I use?
Amos   |     |   Comment #9
It doesn't 'beat' the fee rather it helps to insure that you don't lose the fee if the Cd offer expires before you are able to secure the CD. Make sense?
Bozo   |     |   Comment #10
Amos, good advice. The problem with IRA-only is, well, it's IRA only. Those of us who have IRA CDs know you can't just log-on to an IRA CD account, push a button, and effect a transfer. Would it were so simple. Mind you, I happen to have an IRA MMA (totally liquid), but I would still need to execute a custodian-to-custodian transfer (or an indirect rollover), and the odds of either going through without a hitch?

Once again, the issue of "rate-lock-on-application" comes into play.
Bozo   |     |   Comment #11
Further to my comment #10, many years ago, when rates were actually rising on CDs, obtaining a rate-lock on application (for a CD) was no big deal. However, when rates began to moderate, then fall, rate locks pretty much disappeared. I would be interested if any DA reader succeeds in obtaining a rate lock on application with this particular IRA CD.
jimdog   |     |   Comment #30
This IRA transfer I made was extremely fast with USPS, like three days and bingo.
Joe   |     |   Comment #13
Dumb question here. If I already have an IRA earning next to nothing in cash, can I transfer it to this 3% IRA CD without penalty or cost? Thanks.
Bozo   |     |   Comment #14
Not a dumb question at all. But it gets tricky. If you have an IRA liquid account (such as a MMA), there's no penalty for a withdrawal. On the other hand, if you have an IRA CD earning "next to nothing", there might still be a modest penalty to break it. Whether you can transfer your current IRA in a timely fashion is a whole 'nuther issue (see above). IRAs can only be transferred by custodian-to-custodian transfers or indirect rollovers. Neither method can be accomplished with the click of a mouse. The former requires paperwork and a snail-mail check. The latter, a check and a re-deposit of cleared funds.
Nothing   |     |   Comment #15
Transfer of ira funds trustee to trustee can be done since the funds are going by a check from one to other...offer to be the delivery vehicle and have done in same day!
Amos   |     |   Comment #16
I am attempting to transfer some IRA funds from Inova to Ally, I started the process 5 days ago. Ally emailed me today and said the transfer could take up to 4-6 weeks to complete. Unreal!
Bogie   |     |   Comment #17
Transferring IRAs and 401Ks is agonizing slow no matter the financial institutions involved. Otherwise I too would have jumped at this offer.

I think financial institutions deliberately slow the process with the thought of discouraging people from moving their retirement Accts.
Bozo   |     |   Comment #19
Bogie (re comment #17), many factors can slow down (or even stop) a transfer. The most obvious: paperwork snafus and the USPS. The weirdest (and most inexcusable): the mailroom of the receiving institution. Many years back, I transferred IRA funds from Vanguard to PenFed. All went well on the Vanguard end, my account was debited and the funds whisked off to PenFed. A week went by, then two weeks, then three weeks. When the funds had not shown up in my on-line account, I called PenFed. Oops, the check was somehow stuck in the mailroom. In fairness to PenFed, they did open the IRA CD as of the date of receipt of the check.

Lesson learned: bird-dog every step of a C-to-C transfer.
Bogie   |     |   Comment #25
Bozo, yes, there are many factors that can slow down a transfer. Among them is the cumbersome manner in which the transfer request is handled (even when everything is done on-line). And still take a week or so for the financial institution that you are transferring the Acct from to process the request and then even more time to complete the transfer. Personal experience.....
Gone Postal
Gone Postal   |     |   Comment #20
Conspiracies abound!
jimdog   |     |   Comment #31
Slow?? took me only three days!!
jimdog   |     |   Comment #37
I disagree with it be agonizing. I've done it over 50 times by using direct transfer requests, two day mail if needed, quite easy for me when using the online set up tools that USPS has.
Nothing   |     |   Comment #21
Why do you allow them to get the float? The IRA funds transfer goes directly from C to C, you just need to deliver the check!
DOA   |     |   Comment #23
Since there are better rates elsewhere, 4-6 week lead time is unacceptable. I would forget Ally and go elsewhere. To expedite ira transfers, fax transfer documentation to both institutions prior to the maturity date of your Ira cd and instruct on the transfer documenation to wire the ira funds when tthe ira cd matures. Be sure to check both institutions that they will accept transfer documentation and wiling to to the wire transfer of the funds. Takes about two business days after the cd matures for me when I do it this way. Always followup to assure the transfer documentation has been received and the wire has been done after the cd maturity date. Sometimes they have to be reminded.
Bozo   |     |   Comment #27
DOA (re comment #23), I tried to do a wire transfer of a C-to-C IRA CD transfer many years back. The then-current custodian said "no problem". The prospective custodian gave a thumbs down. They would only accept snail-mail checks. Weirdness abounds.
Nothing   |     |   Comment #28
Bozo...what is one's net worth (asset) as it relates solely to having an income stream of (pick a number) of $3k/month? $1,200,000 million to replace it for an annuity (albeit "guaranteed") with the same return (at a mere 3%)! Soc Sec is the primary answer! That is the value that one puts on their balance sheet!
DOA   |     |   Comment #33
That is true Bozo. Some banks/credit unions will not do a wire transfer or accept ira transfer documentation by fax. A lot of them do though, but you need to always verify this before you start the process.
Nothing   |     |   Comment #34
The question to ask...if the ira funds are requested to be done/transferred before year end, can "you/they" do it? They will (normally) say yes, and they will get to it in the new year and back date their check. Then you ask if their CEO (chief ethics officer, auditor, irs, etc.) is aware of this? And, now, they start to listen! I tell them, you are to serve the customer, if not, let's do a complete distribution/transfer! Negotiation is hard sometimes.'s only money
Bozo   |     |   Comment #18
Nothing (re comment #15), many do not have the option of being the delivery vehicle. For example, my most recent C-to-C transfer of an IRA CD was from Buffalo, NY (KeyDirect) to Walnut Creek, CA (First Republic). I did not fancy a drive to Buffalo this time of year.
Nothing   |     |   Comment #22
Some people like the business expense of picking up a check. Further, if "you" have the check, overnight currier/delivery is also an option! As is wire transfer
Joe   |     |   Comment #24
Thanks, Bozo. It's in an MMA. Yeah, the transfer process will probably take a long time but I may still try to go for it. 3% for 2 years sounds good but then again in several months to a year, better deals may come around.
Bozo   |     |   Comment #26
Joe (re comment #24): Here's a "can't hurt to ask" suggestion. Should you initiate a C-to-C transfer to the USPSFCU, your initial contact will be with the USPSFCU. They will need to send you the transfer request. While on the phone with them, mention your concern about lag times, and ask if they might be willing to "lock the rate" upon your completion of the transfer request and submittal back to them for further forwarding to your current custodian. If they say "yes", your concerns are mollified. All you have to worry about is the potential loss of interest during the transfer process. If they say "no", then you will be subject to the slings and arrows of outrageous fortune. Should the USPSFCU offer be yanked while your funds are in transit, you'll be in the unenviable position of trying to unwind the transaction, or accept whatever USPSFCU is willing to offer.
jimdog   |     |   Comment #32
People, I'm telling you it can be done super fast all on line and by fax. I did it all in three days!
JimDavis   |     |   Comment #35
You keep saying 3 days. You mean the sending bank sent a check to the FCU and it got there in three days and was deposited?

Exactly what did you do.
larry   |     |   Comment #36
Dog, this is the post office and I have no idea why you trust them? What's the EPW?
jimdog   |     |   Comment #44
Come on Larry, do you really believe that postal employees are higher risk than say a Wallmart employee? I doubt it since they have $500,000 insur. per acct. rather than the typical $250,000.
Failed...   |     |   Comment #38
I just called them and spoke to a really friendly rep. They made it clear that they will NOT hold the rate until they receive the funds -- so rate is not held upon application receipt, it's held upon funds receipt (which could take time as folks in this thread are stating, and she said as well). In addition they can only accept applications by PHYSICAL mail, I'm confused as to how the other individual was allowed to do a faxed application. She said "no. It has to be mailed, we can not accept the membership application by fax". Maybe he was already a member and was then able to fax just the IRA application? I'm guess that's it (because they have a fax number on the 14 page(!) IRA application... of which she says only 2 pages need to be filled out). I'm chickening out... She said they've had a lot of interest and they just can't say how long they'll hold the rate for and there is no guarantee.
Amos   |     |   Comment #39
Good info....thanks.
Bogie   |     |   Comment #40
Will only accept applications sent in by way of physical mail and not a fax? Appears the USPSFCU is attempting to provide support (business) to prop up our failing United States Postal Service.
jimdog   |     |   Comment #42
They are not directly connected to the postal service so relax. They are super efficient and polite.
Bogie   |     |   Comment #43
Never said they were. Don't read into thing that aren't there so don't get excited.

They can't be too super efficient, Still doing some business the antiquated way.
jimdog   |     |   Comment #41
Yes, I already was a member and was able to open up the IRA online. Then they faxed me a signed transfer request, that I faxed to my old credit union where the funds were to be transferred. It was really fast for me since I already was a member. I thought their website allowed online membership request without using the mail!!
Reader1   |     |   Comment #45
Rate has been lowered to 1.75% APY effective 5/1/2018. The 3% APY lasted until 4/30/2018.
jimdog   |     |   Comment #46
That's one heck of a drop from 3 to 1.75%! Glad I got my fill of the 3%.
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Deal Summary: 12-month e-Certificate, 1.45% APY; 12-month Certificate, 1.40% APY; $250 minimum deposit

Availability: Easy membership requirement

Last week, U S Postal Service Federal Credit Union (USPS FCU) raised the rates on its 12-month Certificate (1.40% APY) and 12-month e-Certificate (1.45% APY) by an impressive 110 basis points each. The minimum deposit for either is $250, with no stated balance cap.

As stated in USPS FCU’s Agreements & Disclosure, brochure, the Early Withdrawal Penalty reads as follows:

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