United FCU Adds Certificate Specials For The New Year
United Federal Credit Union (UFCU) is continuing to offer limited-time Certificate Specials. The latest are a 9-month (1.50% APY), 16-month (2.10% APY), and 55-month (2.50% APY), with the 16- and 55-month having the most competitive rates. The minimum deposit for any of the Certificate Specials is $500, with no stated balance cap.
These Certificate Specials have a new requirement: the stated APY is dependent of having an Ultra Checking account. If the Ultra Checking account is not maintained throughout the term of the Certificate Special, the APY will be decreased by 10 bps. (The rates shown below are w/o the Ultra Checking.)
The Ultra Checking is a 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
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 3.00*†% | $15k | - | United Federal Credit Union | Ultra Checking | |
| OTHER TIERS: 0.05% → Up to $15k | |||||
UFCU’s Certificate Specials always seem to include one very short-term, one short-term, and one long-term Special, with the shorter term Specials being the most attractive. These APYs are following the current trend of rising short-term rates, with long-term rates lagging behind the curve.
The Certificate Specials are also available as IRAs (Traditional, Roth, CESA), earning the same APYs with the same funding requirements.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 2.90†% | $500 | - | United Federal Credit Union | 16 Month IRA Special (Traditional, Roth, CESA) |
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has an original maturity of one year or more - the penalty we may impose will equal 12 months dividends on the amount withdrawn subject to the penalty and may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.
Availability
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 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 Certificate Special and an Ultra Checking account can be done online, at any of 33 full-service branches located in Arkansas (5), Indiana (2), 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 6.68% (excellent) based on September 30, 2017 data. In the past year, UFCU increased its total deposits by $179.19 million, an excellent annual growth rate of 11.52%. 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. United Federal Credit Union is currently the fourth largest credit union headquartered in Michigan, with more than 166,600 members and assets in excess of $2.5 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 16-month Certificate Special (w/checking) APY currently ranks second.
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 55-month Certificate Special (w/checking) APY currently ranks fourth.
The above rates are accurate as of 1/7/2018.
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD Rates Table page.
Thought this looked pretty good, but at the same time Synchrony shows 12mo 2%.