Verity Credit Union Unveils 19-Month CD Special, 3.00% APY
Verity Credit Union (Verity) has introduced a new 19-month CD Special, which earns 3.00% APY. While the majority of Verity CDs have tiered APYs based on three deposit levels ($1k+, $25k+, $75k+), the 19-month CD Special’s promotional rate only applies to balances between $1k and $25k, with a maximum deposit of $25k per member. New money is required and is defined as “funds not on deposit at Verity within the previous six months.”
As stated in the Truth-In-Savings disclosure, the Early Withdrawal Penalty reads as follows:
The amount of the early withdrawal penalty is based on the term of your account.
Terms of more than 365 days - 180 days interest.
The Truth-In-Savings also states,
After your account is opened, you may make additional
deposits to your account only during the first ten (10) days.
Availability
Headquartered in Seattle, Verity Credit Union is Washington’s 23rd largest credit union, with more than 33,800 members and assets in excess of $587 million. The field of membership (FOM) is primarily residency-based, with individuals who live, work, worship, or attend school anywhere in Washington eligible to join.
Employees/members of more than 20 SEGs also qualify for membership, as do immediate family members of current Verity CU members.
Joining Verity and/or opening a CD Special can be done online, or at any of the eight western Washington branches located in Auburn, Lynnwood, and Seattle (6). The membership application is also available as a download.
A minimum $5 deposit in a Prime Share Savings Account is required to establish your new membership. There is also a $10 quarterly service fee that can be waived “by maintaining an average balance of $200 OR opening an additional deposit or loan account at Verity Credit Union.”
Verity participates in the CO-OP Shared Branch Network,
which allows our members to use participating credit unions to do their transactions.
There are credit unions in this network located throughout the U.S. and Canada.
Credit Union Overview
Verity Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.40% (excellent) based on December 31, 2018 data. In the past year, Verity has increased its total non-brokered deposits by $23.86 million, an excellent annual growth rate of 5.19%. Please refer to our financial overview of Verity Credit Union (NCUA Charter # 68517) for more details.
In 1933, the state of Washington formed Postal Workers Credit Union #8, the original precursor of Verity Credit Union. Following FOM expansion to include other federal employees, the Credit Union became the Federal Employees Credit Union. The Credit Union changed from a state charter to a federal charter 1969 and rebranded in 1978 as NW Federal Credit Union. In 2003, the FOM expanded to include all residents of Washington and a new name was needed. “Verity” is defined as “a fundamental and inevitably true value,” which seemed an appropriate name for one of the oldest credit unions in Washington.
How the CD Special Compares
When compared to the similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available with the FOM, Verity Credit Union's 19-month CD Special APY currently ranks second.
The above rates are accurate as of 4/23/2019.
Looking for the best CD rates, either nationwide and in your state? Please refer to our CD Rates Table page.
