United Financial Credit Union (MI) Has Top Rate 15-Month CD Special



Residents of Saginaw County, Bay County, and Midland County, Michigan.

United Financial Credit Union has added a new 15-month CD Special (1.50% APY) to its product line. The minimum opening deposit is $500, with no maximum balance cap.

As stated on United Financial Credit Union’s Disclosure Page, the Early Withdrawal Penalty reads as follows:

Amount of Penalty: The amount of the early withdrawal penalty is 180 days interest calculated on the amount withdrawn with a minimum of $40.00.

How the Penalty Works: The penalty is calculated as a forfeiture of part of the interest that has been or would be earned at the nominal interest rate on the account. It applies whether or not the interest has been earned. In other words, if the account has not yet earned enough interest or if the interest has already been paid, the penalty will be deducted from the principal.


Membership in United Financial Credit Union (UFCU) is residency based, with individuals who live, work, or worship in the Michigan counties of Saginaw, Bay and Midland eligible to join. Family members of current UFCU members are also eligible for membership. UFCU’s membership page states that "You may qualify for membership in other ways - please contact the Credit Union for details."

Joining UFCU and/or opening a CD requires an in-person visit of any of six branches located in Auburn, Chesaning, Freeland, and Saginaw (3). The membership application can be downloaded from UFCU’s website and completed prior to your branch visit.

Credit Union Overview

United Financial Credit Union has an overall health grade of "B" at DepositAccounts.com, with a Texas ratio of 14.13% (above average) based on June 30, 2014 data. In the past year, UFCU has increased its total deposits by $2.91 Million, an above average annual growth rate of 1.86%. Please refer to our financial overview of United Financial Credit Union for more details.

In 1964, the original United Saginaw Credit Union was formed to serve a small group of tool and die makers in Saginaw County. During its first 40 years, the credit union’s membership expanded to not only include tool and die shops, but manufacturers, grocers, and several other organizations. In the past 10 years, United Financial Credit Union (NCUA Charter # 61657) has merged with two other credits union, expanded its field of membership and amassed assets in excess of $179 Million.

How the CD Compares

When compared to other similar length-of-term CDs tracked by DepositAccounts.com, that require a similar minimum deposit and available to Michigan residents, United Financial Credit Union's 15-month CD is clearly the leader.

The above rates are accurate as of 12/9/2014.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.

4.00% Reward Checking Account at a Michigan CU (United Financial)

Update 4/04/10: The top yield has fallen to 4.00% APY. Refer to the bottom of the post for the rate history.

United Financial Credit Union is offering a reward checking account that pays 4.00% APY on balances up to $25,000 (0.25% for over) and refunds ATM fees if the following monthly requirements are met: 1) 12 debit card transactions (must be signature based with a minimum $5 purchase), 2) one bill payment using Net Pay, 3) direct deposit and 4) Virtual Branch with E-statements.

Membership is open to those who reside,...

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5.00% 5-Year CD at a Michigan CU - $5K Max (United Financial)

United Financial Credit Union is offering a High Five CD promotion with a 5.00% APY, a 5-year term, a minimum deposit of $500, and a maximum deposit of $5,000 per member. It's only available for the month of May.

They could have kept their high five theme with a $50K cap. Unfortunately, it's only $5K. With a $5K deposit, you'll earn about $250 more during the 5 years than if the money was in a 4% CD.

The credit union also offers a reward checking account with a yield that's currently 5%...

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