Via Credit Union’s (Via CU) 60-71 month CD (1.51% APY) is unique, in that it straddles two term-lengths (5- and 6-year) with an APY that is competitive in both term-lengths. The minimum deposit is $500, with no stated balance cap.
The CD is also offered as an IRA CD (Traditional and Roth) and an HSA, earning a higher 1.76% APY with the same $500 minimum deposit requirement.
As stated 0n the Savings Rates page, the Early Withdrawal Penalty reads as follows:
Certificates with a term of 18-71 months are subject to a penalty for early
withdrawal of 180 days dividends on principal withdrawn, whether earned or not.
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 more information about Excess Share Insurance, my September 2011 blog post, ESI – Little Known Deposit Insurance for Credit Unions, may be helpful.
Headquartered in Marion, Indiana, Via Credit Union’s field of membership (FOM) is primarily residency-based and includes twelve central Indiana counties.
Residency: Individuals who live or work in the Indiana counties of Blackford, Delaware, Grant, Hamilton, Howard, Huntington, Kosciusko, Madison, Miami, Tipton, Wabash or Wells qualify for membership.
Relationship: Family members (defined as spouse, children, parents, siblings, grandparents, grandchildren, including 'steps') of anyone within the FOM (i.e., all membership-eligible individuals) qualify for membership. Anyone who lives in the household of a current VIA CU member is also welcome to apply.
Joining Via CU and/or opening a CD must be done in-person at any of six full-service Indiana branches located in Gas City, Hartford City, Marion (3), and Warsaw. As stated on the COVID-19 Updates page, opening new accounts can be done by appointment only.
To reduce the number of people in the lobby and to abide by social distancing guidelines, new account openings and lending needs are by appointment only at this time. If you would like to make an appointment, please call 877.673.3284 or email [email protected]
As stated on Via CU’s Open an Account page,
Bring money! You will 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.
Credit Union Overview
Via Credit Union, has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 0.98% (excellent) based on June 30, 2020 data. In the past year, Via CU has increased its total non-brokered deposits by $48.1 million, an excellent annual growth rate of 15.43%. 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 21st largest credit union, with more than 33,000 members and assets in excess of $435 million.
How the CD Compares
When compared to 5-year CDs tracked by DepositAccounts.com that require a similar minimum deposit are available within the FOM, Via Credit Union’s 60-71 month CCD APY currently ranks second.
When compared to 6-year CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Via Credit Union’s 60-71 month CD APY currently ranks first.
The above rates are accurate as of 11/16/2020.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.