URW Community FCU (VA) Raises Rate On 5-Year CD


Availability: Residents of the Virginia counties of Halifax, Henry, and Pittsylvania; the Virginia cities of Danville and Martinsville; and Caswell County, North Carolina.

Last week, URW Community Federal Credit Union (URW Community Federal) raised the rate on its 5-year Share Certificate (2.27% APY). The minimum deposit is $2.5K, with no balance cap.

This is the first rate change for the 5-year Share Certificate in more than a year, and the highest APY since the Share Certificate was added to the product line in December 2013.

2.27%$2.5k-URW Community Federal Credit Union5 Year CD
2.27%$2.5k-URW Community Federal Credit Union5 Year IRA (Traditional, Roth, CESA, SEP)
Rates as of April 23, 2024.

The 5-year Share Certificate is also available as an IRA Certificate (Traditional, Roth, SEP, and CESA), earning the same APY and with the same funding requirements.

According to CSR, the Early Withdrawal Penalty is six months interest.


Headquartered in Danville, Virginia, URW Community Federal Credit Union’s field of membership is residency based, with individuals who live, work, worship, volunteer, or attend school or volunteer in the Virginia counties of Halifax, Henry, and Pittsylvania, or the Virginia cities of Danville and Martinsville, or Caswell County, North Carolina, eligible to join.

Both family and household members of current URW Community Federal members are also eligible for membership. Complete membership details are available on the Credit Union’s Eligibility Checklist page.

Joining URW Community Federal and/or opening a Share Certificate can be done by visiting any of nine Virginia branches located in Chatham, Danville (7), and South Boston.

While URW Community Federal’s website has a page titled, "Welcome To Our Online Account Application" that details the process, there actually is no online application. When I couldn’t locate a link to the application, I called the Credit Union for assistance and was quite surprised to be told that the online application is not yet functional. CSR directed my attention to the bottom of the page:

Join Now – Coming Soon

CSR wasn't sure when the online capabilities would be activated, but she did say it's something to look forward to.

Credit Union Overview

URW Community Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 8.12% (excellent) based on September 30, 2015 data. In the past year, URW Community Federal increased its total deposits by $19.5 Million, an excellent annual growth rate of 18.11%. Please refer to our financial overview of URW Community Federal Credit Union for more details.

URW Community Federal Credit Union (NCUA Charter # 19867) was established in 1970 as the URW 831 Members Federal Credit Union (URW 831 Members), by and for the benefit of the members of the United Rubber Workers Local 831. Many fledgling credit unions start out in a less-than-impressive setting, such as a basement or a desk in the corner of an unused office. In this instance, it was a brief case, which at least made it easy to bring the Credit Union to the members! After merging with Telco FCU and Danville Medical Regional Center FCU, and opening the field of membership to the community, URW 831 Members became URW Community Federal Credit Union in 2003. Today, URW Community Federal has more than 18,500 members and assets in excess of $142 Million.

How the CD Compares

When compared to the 164 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available to Virginia residents, URW Community Federal Credit Union’s 5-Year CD currently ranks second.

The above rates are accurate as of 2/23/2016.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table or our new Rates Map page.

  |     |   Comment #1
Caswell county is in North Carolina

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