At the beginning of the month,Via Credit Union’s (Via CU) added a 27-month Certificate Special (2.79% APY) to its product line. The minimum deposit is $25k, with no stated balance cap.
The Certificate Special is also offered as an IRA (Traditional and Roth) and an HSA, earning the same APY with the same funding requirements.
As stated on 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withdrawal of 180 days dividends on principal withdrawn, whether earned or not.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 2001 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.
Employment: Employees of more than 65 SEGs are eligible to join.
Relationship: Family members (defined as spouse, children, parents, siblings, grandparents, grandchildren, and '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 Certificate Special must be done in-person at any of seven full-service Indiana branches located in Gas City, Hartford, Marion (4), and Warsaw.
Bring money! You will need to deposit at least $50 in your
ViaMembership Shares to avoid a $3 monthly access fee.
Credit Union Overview
Via Credit Union, has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 0.67% (excellent) based on September 30, 2017 data. In the past year, Via CU’s increased its total non-brokered deposits by $17.5 million, an excellent annual growth rate of 6.28%. 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 credit union, with nearly 30,000 members and assets in excess of $343 million.
How the Certificate Special Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, Via Credit Union’s 27-month Certificate Special APY currently ranks first, regardless of minimum deposit.
The above rates are accurate as of 3/5/2018.