Yesterday, Veritas Federal Credit Union (VFCU) added a very competitive 14-month Certificate Special (2.02% APY). The minimum deposit is $500 of new money, with no balance cap.
This is a limited-time offer, and while no end-date is listed on the VFCU’s website, CSR stated that it will only be available "until the reserve is met, so it may disappear at any time."
According to the very helpful CSR, the Early Withdrawal Penalty is 90 days interest.
Many thanks to the DA reader who informed me about this Certificate Special.
Headquartered in Franklin, Tennessee, Veritas Federal Credit Union was originally chartered to serve the employees of the Nissan Motor Corporation.
The Field of Membership (FOM) has been expanded to include several Nissan North America companies. Complete details are available on VFCU’s website.
You are eligible for Veritas Federal Credit Union membership if you are employed by any of the Select Employee Groups listed below. You may also join if you are an employee of a long-term contractor working at any of the below facilities.
- Nissan North America (NNA)
- Any NNA regional office in North America
- Any Infiniti regional office in North America
- Any Parts Distribution Center (PDC) in North America
- Any Distribution Auto Services (DAS) in North America
- Any Tier 1 or Tier 2 Supplier in North America
You are also eligible to join the Credit Union if you are employed at any of the following Nissan affiliate locations:
- NNA-Decherd, Decherd, TN
- NNA Smyrna, Smyrna, TN
- NNA Canton, Canton, MS
- NNA-Denver Data Center, Englewood, CO
- Nissan Motor Acceptance, Irving, TX
- Nissan Technical Center, Stanfield, AZ
- Nissan Technical Center, Farmington Hills, MI
- The Designory, Long Beach, CA
- Manubeni Engines Power (MEP), Carrollton, TX
- Nissan Design America (NDA), San Diego, CA
- Nissan Diesel America, Irving, TX
- Nissan Forklift, Marengo, IL
Additionally, family members of a Nissan-affiliated employee working at any of those locations may also join, even if the Nissan-affiliated employee is not a VFCU member.
Joining Veritas FCU and/or opening the 14-Month Certificate Special can be done at any of four Tennessee branches located in Franklin and Smyrna (4), or the sole Mississippi branch in Canton, or by mail. VFCU’s membership application is available as a download.
Credit Union Overview
Veritas Federal Credit Union (NCUA Charter # 21354) has an overall health grade of "B" at DepositAccounts.com, with a Texas ratio of 14.17% (above average), based on September 30, 2015 data. In the past year, VFCU increased its total deposit by $1.8 Million, an excellent annual growth rate of 5.3%. Please refer to our financial overview of Veritas Federal Credit Union for more details.
Veritas Federal Credit Union was originally chartered in 1973 as the Nissan Federal Credit Union, for the benefit of the employees of Nissan Motor Corporation. Today, VFCU has nearly 6,000 members and assets in excess of $39+ Million.
How the CD Compares
Given that Veritas FCU’s employment-based FOM stretches across many states, a national comparison is comparison. Therefore, when compared to the 135 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationally, Veritas Federal Credit Union's 14-month Certificate Special currently ranks first.
The above rates are accurate as of 3/3/2016.