United States Senate FCU Ups Rates on Top 60-Month CD (3.63% APY)

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Deal Summary: 60-month Share Certificate – 3.63% APY ($60k min), 3.57% APY ($20k min), 3.51% APY ($1k min)

Availability: Easy membership requirement

For the past year, United States Senate Federal Credit Union (USSFCU) has been steadily raising the rates on its 60-month Share Certificate. Ten bps were added to each of the tiered APYs this week, securing the 60-month Share Certificate’s position as the rate leader for nationally available 5-year CDs.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.63*%$60k-United States Senate Federal Credit Union60 Month Share Certificate
OTHER TIERS: 3.51% $1k - $20k | 3.57% $20k - $60k
3.63*%$60k-United States Senate Federal Credit Union60 Month IRA (Traditional, Roth, SEP)
OTHER TIERS: 3.51% $1k - $20k | 3.57% $20k - $60k
Rates as of November 18, 2018.

The 60-month Share Certificate is also available as an IRA (Traditional, Roth, SEP), earning the same tiered APYs with the same funding requirements.

All of USSFCU Share Certificates have tiered APYs based on deposit levels of $1k, $20k, and $60k. USSFCU’s Share Certificates page lists the 3.63% APY for deposits of "$60,000 - $99,999 plus Jumbo." According to CSR, "Jumbo" refers to deposits of more than $99,999, not to a separate Jumbo Share Certificate. In other words, there is no stated balance cap for the top tier APY.

As stated on the Fees and Charges page, the Early Withdrawal Penalty reads as follows:

360 days of dividends paid and accrued on the withdrawal for terms of greater than 3 years.

Thanks to DA reader, leemd, for the Forum post about USSFCU's latest rate increases.

Bump Rate Certificates

USSFCU continues to offers three long-term Personal Bump Rate Share Certificates, which permit a “one–time option to bump it up to an even better rate during the term of your certificate.” Like the Share Certificates, the Bump Rates have tiered APYs, based on deposit levels of $60k+, $20k+, and $1k+, but these APYs are 10-21 bps lower than those of the Share Certificates.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.43*%$60k-United States Senate Federal Credit Union60 Month Personal Bump Certificate
OTHER TIERS: 3.30% $1k - $20k | 3.37% $20k - $60k
2.92*%$60k-United States Senate Federal Credit Union48 Month Personal Bump Certificate
OTHER TIERS: 2.80% $1k - $20k | 2.86% $20k - $60k
2.66*%$60k-United States Senate Federal Credit Union36 Month Personal Bump Certificate
OTHER TIERS: 2.54% $1k - $20k | 2.60% $20k - $60k
Rates as of November 18, 2018.

Here’s the question you need to ask yourself – is the lower rate worth the bump option? While there is no definitive answer to that question, DA guest contribution, Charles Rechlin, has written an article that may help you decide for yourself. Here’s a teaser quote from Personal CD Investing: Step-Up and Step-Rate CDs:

Because I view a bump-up right as being of dubious value, my practice is to pass on
step-up CDs unless the initial rate offered is at, above, or at least reasonably competitive with the best rate available nationally for a CD of the same maturity with no step-up right.

Availability

Headquartered in Alexandria, Virginia, United States Senate Federal Credit Union offers membership “via sponsorship or contribution.”

Easy Membership Requirement - Membership in the American Consumer Council, Virginia Chapter (VACC) has been added to the field of membership (FOM). Using the Promo Code “USSFCU” waives the $8 VACC Membership Fee.

Members of the United States Capitol Historical Society (USCHS) are also eligible to join USSFCU (minimum contribution of $50). Joining either organization must be done prior to completely the USSFCU application. More details are available on USSFCU’s website.

Employment Sponsorship - Current employees and retirees of more than 140 SEGs, including The United States Senate, The United States Supreme Court, The Government Accountability Office, Democratic National Committee, qualify for membership.

Family Sponsorship - Immediate family members (spouse, child, sibling, parent, grandparent, or grandchild, including step and adoptive relationships) of an existing USSFCU member or current employee of an SEG are eligible to join, as are household members of the same.

Joining USSFCU and/or opening a Share Certificate can be done online or at either of two District of Columbia branches or the Alexandria, Virginia branch. A secure application can also be requested by calling 800.374.2758 or sending an email to services@ussfcu.org.

Credit Union Overview

United States Senate Federal Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 2.00% (excellent), based on June 30, 2018 data. In the past year, USSFCU increased its total non-brokered deposits by $92.7 million, an excellent annual growth rate of 16.91%. Please refer to our financial overview of United States Senate Federal Credit Union (NCUA Charter # 624) for more details.

United States Senate Federal Credit Union was established in 1935, when seven individuals pooled their resources and obtained a charter for the United States Senate Employees Federal Credit Union. The original FOM was exclusive to U.S. Senate employees, but was expanded through mergers with the General Accountability Office Federal Credit Union, the DC Unemployment Federal Credit Union, and the American Trucking Association Federal Credit Union. The Credit Union was renamed in 1990 to better reflect the changing membership. USSFCU is currently the 15th largest credit union in Virginia, with more than 37,000 members and assets in excess of $728 million.

How the Share Certificate Compares

When compared to the other similar length-of-term CDs tracked by DepositAccounts.com that are nationally available, all of United States Senate Federal Credit Union's 60-month Share Certificate APY tiers currently rank in the top three, regardless of minimum deposits.

The above rates are accurate as of 10/3/2018.

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

Related Pages: Washington CD rates, 1-year CD rates, 5-year CD rates, nationwide deals

Comments
Nothing
Nothing   |     |   Comment #1
Ken, any different/special ewp on IRAs?
jimdog
jimdog   |     |   Comment #2
The idiots in the senate makes me sick, so I would not want to invest a penny in this.
rwthoiohiwe
rwthoiohiwe   |     |   Comment #4
yes, they're idiots (and other things I can't post here) but that has nothing to do with the credit union.
#15 - This comment has been removed for violating our comment policy.
Ameri-cun
Ameri-cun   |     |   Comment #17
put down the crack pipe, billy bob.
#22 - This comment has been removed for violating our comment policy.
RJM
RJM   |     |   Comment #3
This is a top 5 year rate. But not enough of a premium to lock my money up for 5 years.
rateshopper
rateshopper   |     |   Comment #5
I agree. A 4%, 5-year CD can't be too far away, especially after today's bond market move.
RJM
RJM   |     |   Comment #14
I'm not even sure 4% would be enough for me for 5 years. Except for maybe a small amount at a firm I already do business with. Not opening an account at a new firm for 4%. Unless maybe its a 3 year.

Id probably be inclined to take on a little more risk in search of potentially higher yields.

Like a closed end preferred stock or utility fund.
Riley
Riley   |     |   Comment #6
This seems like a sweet spot with the 5 year Bump up CD at 3.43 APY. Option to raise the rate if it goes up.
Francis
Francis   |     |   Comment #13
For comment #6. I'd be a little careful with the bump up rules. You get a rate adjustment based on their new rate on the bump up certificate not on a regular 5 year cd. From their website - "The rate will be adjusted to the rate currently in effect for our Bump Rate Share Certificate at the time the request is made."
Riley
Riley   |     |   Comment #7
I wonder if it's a Soft or Hard Credit Pull? Any info on this?
HardPull
HardPull   |     |   Comment #20
Last time I opened an account, it was a HARD pull,
Nothing
Nothing   |     |   Comment #21
Do the Disclosures cover this? Shouldn't they if part of the application process? If not, begs the question...what else is not being disclosed to make an informed decision....Ken, what do you think?
#23 - This comment has been removed for violating our comment policy.
#8 - This comment has been removed for violating our comment policy.
losingtrader
losingtrader   |     |   Comment #16
Rates are blowing out on the 5-30 year Treasury. We moved from 3.06 to a high of 3.225 in one day.
We'll see 4 and 5% again soon. I would not lock in anything.
#18 - This comment has been removed for violating our comment policy.
rob jones
rob jones   |     |   Comment #27
I guess it really depends in President Trump how much does he want to keep rates low.
I see it as he wants a slower raise over a longer period, we went from 6% to zero are we looking for an alltimate 6% or around 5%?
DOA
DOA   |     |   Comment #28
There are beginning to be more CD offers now in the 3.5% range. Maybe in November, we will start seeing more offers closer to 4%.
highrate
highrate   |     |   Comment #19
I got one today and will get another in the next week. . For all I know this may be the high in rates for the next couple of years. but who knows.
Anon1
Anon1   |     |   Comment #24
Wondering what is meant by the Virginia Chapter of the ACC. Does this require Virginia residency? I have ACC membership already but it isn't designated as VACC. I cannot see anything VACC-specific on the ACC site, which is what their field of membership info points to. Does ACC get translated into VACC only if you enter a Virginia address?
JeffreyTT
JeffreyTT   |     |   Comment #25
I'm wondering the same thing. Have you found the answer?
Jen
Jen   |     |   Comment #26
You don't need a virginia address. I live in the midwest and just got a VACC membership through this credit union. Use the promo code provided under "Apply Now" on the credit bureaus website (you will need to move pretty far down the page after clicking on Apply Now). This promo code automatically indicated Virginia chapter. I received an email minutes later from the VACC clearing indicating the word Virginia. p.s. I was already a member of the national ACC and that doesn't matter. Now i have two memberships (primary ACC and Virginia chapter). The promo code waives the fee on the Virginia chapter membership.
United States Senate Fed Credit Union Ups 60-Month CD
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Availability: Easy membership requirement

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Availability: Easy membership requirement

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Availability: Easy membership requirement

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United States Senate FCU Ups 60-Month Smart CD Rate

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Availability: Easy membership requirement

Last month, United States Senate Federal Credit Union (USSFCU) raised the rates on its 60-month Smart CD: 2.40% APY, $60k minimum; 2.34% APY, $20k minimum; 2.28% APY, $1k minimum. USSFCU's Current Rates page shows the 2.40% APY for "$60,000 - $99,999 plus Jumbo." According to CSR, "Jumbo" refers to deposits of more than $99,999, not a separate product.

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