In December, United Federal Credit Union (UFCU) had three limited-time Share Certificate Specials. While those offerings have ended, UFCU is now promoting its new 16-month (1.40% APY) and 45-month (2.20% APY) Share Certificate Specials. The minimum deposit for either of these limited-time Specials is $500, with no stated balance cap.
Both Share Certificate Specials are also available as IRAs (Traditional, Roth, and CESA), earning the same APYs with the same funding requirements.
As stated in UFCU’s Terms and Conditions document, the Early Withdrawal Penalty reads as follows:
If your account has an original maturity of one year or more -
the penalty we may impose will equal 12 months dividends on the
amount withdrawn subject to the penalty and may go into the principal balance.
Headquartered in Saint Joseph, Michigan, United Federal Credit Union’s field of membership isn’t easily categorized, but eligibility can be quickly determined by answering the three questions that are listed on the Three Ways To Join UFCU page:
Do you have an immediate Family Member with an account at United Federal Credit Union?
Relationship: Immediate family members of current UFCU members are eligible to join.
Are you OR your Immediate Family Member working for or retired from a Corporate Member?
Employment: Individuals who work for, or are retired from one of UFCU’s more than 900 Corporate Members, are eligible for membership.
Please select the state where you live - Arkansas, Indiana, Michigan, Nevada, North Carolina, Ohio, Oklahoma.
Residency: Individuals who live, work, worship, or attend school in certain counties/townships near UFCU branch locations are eligible for membership.
Easy Membership: Individuals who live anywhere in the above mentioned states are eligible for membership by joining the American Consumer Council.
Complete details concerning membership eligibility are available on the Three Ways to Join page.
Joining United Federal Credit Union and/or opening a Share Certificate Special can be done online, at any of 32 branches located in Arkansas (5), Indiana (1), Michigan (11), North Carolina (4), Nevada (9), and Ohio (2), or by phone (888.982.1400).
Credit Union Overview
United Federal Credit Union (NCUA Charter # 6288) has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 5.84% (excellent) based on September 30, 2016 data. In the past year, UFCU increased its total deposits by $145.31 million, an excellent annual growth rate of 10.46%. Please refer to our financial overview of United Federal Credit Union for more details.
United Federal Credit Union was founded in 1949 as the Nineteen Hundred Employees Federal Credit Union by five Whirlpool employees. In its 66-year history, UFCU has seen four name changes, two acquisitions, one merger, and an expansion of its charter. In 2013, UFCU was doubly honored, being named Michigan Credit Union League Outstanding Credit Union of the Year 2013 and National Federal Credit Union of the Year 2013 by the National Association of Federal Credit Unions. United Federal Credit Union is currently the fourth largest credit union in Michigan, with more than 152,400 members and assets in excess of $2.1 billion.
How the Share Certificate Special Compares
When compared to the 168 similar length-of-term CDs tracked by DepositAccounts.com, with similar minimum deposit requirements and nationally available, United Federal Credit Union’s 45-month Share Certificate Special APY currently ranks first.
|Interest Rate||CD Length of Term||Bank/Credit Union|
|2.20% APY||45-month Share Certificate Special||United Federal Credit Union|
|2.00% APY||49-month Share Certificate Special||NASA Federal Credit Union|
|1.91% APY||4-year Share Certificate||Melrose Credit Union|
The above rates are accurate as of 1/6/2017.