Via Credit Union (IN) Offers Top Rates On Long-Term CD Specials

Long-term CD Specials have been hard to find these days. So it's nice to see these long-term CD Specials with rates over 5% at Via Credit Union (Via CU). Following a 40-bps rate increase this week, the Via CU 33-month CD Special is currently offering a market-leading 5.25% APY. The minimum opening deposit $500, with no stated balance cap.

Via CU debuted its 60-month CD Special in October and its initial and competitive 5.35% APY is still in effect. The minimum opening deposit is $10k of new money, with no stated balance cap. “New money” is defined simply as funds not currently on deposit in a Via CU account.

Both CD Specials are also available as IRA CD Specials (Traditional and Roth) and HSA CD Specials, earning the same APYs with the same deposit requirements.

Early Withdrawal Penalty

As stated in the Truth-in-Savings disclosure, the Early Withdrawal Penalty reads as follows:

Terms of 18 Months or greater – 180 days’ dividends.

It applies whether or not the dividends have been earned. In other words, if the account has not yet earned enough dividends or if the dividends have already been paid, the penalty will be deducted from the principal.

Excess Share Insurance

Besides the federal insurance provided by the NCUA, additional coverage of up to $250,000 is provided by Excess Share Insurance Corporation, the nation’s largest private insurer for credit unions. If you would like further information about Excess Share Insurance, my September 2001 blog post, ESI – Little Known Deposit Insurance for Credit Unions, may be helpful.

Availability

Headquartered in Marion, Indiana, Via Credit Union’s field of membership (FOM) is community-based, with individuals who live or work in the northeast Indiana counties of Blackford, Delaware, Grant, Hamilton, Howard, Huntington, Kosciusko, Madison, Miami, Tipton, Wabash, or Wells qualifying for membership.

Family members (defined as spouse, children, parents, siblings, grandparents, grandchildren, including step-relations) of anyone within the FOM (nearly 980,000 membership-eligible individuals in the twelve counties) qualify for membership. Family members or anyone who lives in the household of a current VIA CU member is also welcome to apply.

Account Opening

Joining Via CU and/or opening a CD Special can be done over the phone (765.674.6631) or in-person at any of six full-service Indiana branches located in Gas City, Hartford City, Marion (3), and Warsaw.

A $5 minimum deposit in a Membership Share Account established a Via CU membership. As stated on the Via CU Open an Account page,

You will also need to deposit at least $50 in your
ViaMembership Shares to avoid a $3 monthly access fee.

VIA Credit Union participates in the CO-OP Shared Branch network and the AllianceOne ATM network.

Funding and Other Details

The following information was obtained from the CD Truth-in-Savings disclosure and a phone conversation with CSR.

• Funding – ACH, wire, check, or shared branch transfer.
• Ownership – Individual, joint, or trust.
• CO-OP Shared Branch Participant – Yes.
• Dividends – Compounded/credited monthly and can be paid out by check or transferred to Via CU savings/checking account.
• Maturing Funds – Cashier’s check to address on file or internal transfer.
• Beneficiaries – Unlimited, with percentages assigned; Social Security numbers preferred but not required.
• Grace Period – 10 calendar days before automatic renewal.
• Credit Check – None.

Credit Union Overview

Via Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.21% (excellent) based on September 30, 2023 data. In the past year, Via CU’s total non-brokered deposits decreased by -$2.88 million, an average annual growth rate of -0.64%. Please refer to our financial overview of Via Credit Union (NCUA Charter # 68572) for more details.

In 1936, Via Credit Union was organized as the Indiana Public School Employees Federal Credit Union (IPSEFCU) by Marion school employees. Like so many fledgling credit unions in the ‘30s and ‘40s, IPSEFCU had its first “branch” in the home of one of the charter members, where it remained for 30 years. A merger with Blackford County Public Employees Federal Credit Union occurred in 1983. A state charter was granted in 2007 and the FOM expanded to include four Indiana counties. The next five years saw the Via re-brand, a merger with Grant County Community Federal Credit Union, and another seven counties added to the FOM. Via Credit Union is currently Indiana’s 22^nd largest credit union, with more than 37,000 members and assets in excess of $544 million.

How the 33-Month CD Special Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM and have minimum deposit requirements of $10k or less, no banks or credit unions have higher rates than currently offered on the Via Credit Union 33-month CD Special. The following table compares the 33-month CD Special to the four highest-rate CDs from other banks/credit unions within the FOM.

How the 60-Month CD Special Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available nationally and have minimum deposit requirements of $10k or less, no bank or credit union has a higher rate than currently offered on the Via Credit Union 60 Month CD Special. The following table compares the 60 Month CD to the four highest-rate CDs from other banks/credit unions within the FOM.

The above information and rates are accurate as of 1/25/2024.

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