United Financial Credit Union Adds 66-Month CD Special, 3.25% APY


Deal Summary: 66-month CD Special, 3.25% APY, $500 minimum deposit

Availability: All 68 counties in Michigan’s Lower Peninsula.

United Financial Credit Union (United Financial) is currently offering a variety of CD Specials, including a competitive a 66-month CD Special, earning 3.25% APY. The 19-month and 29-month CD Specials don’t have great rates (2.50% APY and 2.75% APY, respectively), but merit a mention. The minimum opening deposit for any of these CD Specials is $500, with no stated balance cap.

Funding a CD can be done by an ACH transfer, wire transfer ($5 fee), or check. Accessing maturing funds during the 10-day grace period can also be done through ACH transfer, wire transfer ($30 fee), or cashier’s check.

As stated on United Financial’s Rates and Service Changes document, the Early Withdrawal Penalty reads as follows:

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calculated on the amount withdrawn with a minimum of $40.00.

12-Month CD Special

When I first the saw the 7.00% APY offered on the 12-month CD Special, I thought it was an error. While it truly is 7.00% APY, the 12-month CD Special’s competitiveness is hobbled by its $1k balance cap and the limit of one per membership account. As one of my colleagues said, “It’s an easy $70 [by investing $1k]. It's probably not worth someone's time to join just for this one special, but if you join for another reason (like the 66-month CD Special), it would make sense to also open this 12-month CD Special."


Headquartered in Saginaw, Michigan, United Financial Credit Union has a new, vastly expanded field of membership (FOM): individuals who live, work, worship, or attend school in any of the 68 counties in Michigan’s Lower Peninsula are eligible to join. United Financial’s previous FOM included only three mid-Michigan counties.

Immediate family members of current United Financial members also qualify for membership. “Immediate family” is defined as spouse, parent, sibling, child, grandparent, and grandchild, including adoptive and step- relations.

Joining United Financial can be done online, or at any of five Michigan branches located in Auburn, Chesaning, Freeland, and Saginaw (2). The membership application can also be downloaded as a PDF and returned by email or snail-mail.

An individual becomes a member of United Financial by opening a Savings account. This is our basic savings program and requires an initial deposit and minimum balance requirement of $25.

Once the membership application is approved, opening a CD Special can by over the phone. CD Specials can also be opened at any of the above-mentioned branches.

As a member of the CO-OP Shared Branch network, United Financial members have access to more than 5,000 CU Service Center locations and 30,000 fee-free CO-OP ATMs.

Credit Union Overview

United Financial Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.73% (excellent), based on March 31, 2019 data. In the past year, United Financial has increased its total non-brokered deposits by $10.04 million, an excellent annual growth rate of 5.27%. Please refer to our financial overview of United Financial Credit Union (NCUA Charter # 61657) for more details.

In 1964, the original United Saginaw Credit Union was established to serve a small group of tool and die makers in Saginaw County. During its first 40 years, United Financial’s membership expanded to not only include tool and die shops, but also local manufacturers, grocers, and several other organizations. In the past 16 years, United Financial has merged with three other Michigan credit unions, expanded its FOM three times, and amassed assets in excess of $225 million.

How the CD Special Compares

When compared to the similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available within the FOM, United Financial Credit Union’s 66-month CD APY currently shares the top spot with Security Credit Union’s 6-year Share Certificate APY.

The above rates are accurate as of 6/28/2019.

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

Related Pages: Flint CD rates, 1-year CD rates, 5-year CD rates

  |     |   Comment #1
Purepoint lowered CD rates
  |     |   Comment #2
3.25% for over 5 years???
We're scr*wed....
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:


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....

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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.

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