For more than two years, United Federal Credit Union (UFCU) has offered a series of limited-time Certificate Specials. The most recent are a 46-month (3.40% APY), 36-month (3.20% APY), and 16-month (3.00% APY), with the 46- and 16-month having the most competitive rates. The minimum deposit for any of the Certificate Specials is $500, with no stated balance cap.
The stated APY is dependent on an Ultra Checking account relationship. If the Ultra Checking account is not maintained throughout the term of the Certificate Special, the APY will be decreased by 10 bps.
The Ultra Checking is UFCU's rewards checking account that earns 3.00% APY on qualifying balances up to $15k. The qualifying requirements are as follows:
- Enroll in eStatements
- One direct deposit or ACH per month
- At least ten non-PIN based debit card transactions
UFCU’s Certificate Specials always seem to include one very short-term, one short-term, and one long-term Special. The difference with this round of Certificate Specials is that the long-term rate is the most competitive. In the past, the short-term rates have been the star of these offerings.
The Certificate Specials are also available as IRAs (Traditional, Roth, CESA), earning the same APYs with the same funding requirements.
As stated in UFCU’s Truth-in-Savings 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has an original maturity of one year or more - the penalty we may impose will equal 12 months dividends on the amount withdrawn subject to the penalty and may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 (FOM) isn’t easily categorized, but eligibility can be quickly determined by answering the three questions that are listed on the Join Online 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.
Joining United Federal Credit Union and/or opening a Certificate Special and an Ultra Checking account can be done online, at any of 33 full-service branches located in Arkansas (5), Indiana (4), Michigan (10), North Carolina (4), Nevada (10), and Ohio (2), or by phone (888.982.1400).
Credit Union Overview
United Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 6.74% (excellent) based on June 30, 2018 data. In the past year, UFCU increased its total deposits by $176.42 million, an excellent annual growth rate of 10.49%. Please refer to our financial overview of United Federal Credit Union (NCUA Charter # 6288) 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 69-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. Currently the fourth largest credit union headquartered in Michigan, United Federal Credit Union has more than 170,700 members and assets in excess of $2.6 billion.
How the Certificate Specials Compare
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit requirements and are available within the FOM, United Federal Credit Union’s 46-month Certificate Special (w/checking) APY currently shares the top spot with ableBanking’s 4-year CD APY.
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit requirements and are available within the FOM, United Federal Credit Union’s 16-month Certificate Special (w/checking) APY currently ranks second.
The above rates are accurate as of 11/16/2018.
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD Rates Table page.