In mid-March, DHCU Community Credit Union (DHCU) introduced a new 33-month CD (2.00% APY). This CD has no minimum deposit or maximum balance cap.
DHCU also offers a 5-Year Add-On CD (2.02% APY); the 2.02% APY has remained constant for over a year. The minimum deposit is $1K, but anyone under the age of 24 can open the 5-Year Add-On CD with a $500 deposit.
|2.02%||$1k||-||Vibrant Credit Union||5 Year Add-On CD|
|2.00%||-||-||Vibrant Credit Union||33 Month CD Special|
DHCU describes the Add-On feature this way:
Looking for an easy way to save with a higher rate of return? For savers who want a Certificate that functions more like a savings account, DHCU now offers the Add-On Certificate. It all adds up.
Instead of locking away a lump sum on account opening day, you can arrange for weekly, semi-monthly or monthly deposits or transfers that help add to your savings balance and the amount of dividend your money earns.
According to CSR (who enthusiastically answered the phone, "Best Darn Credit Union! How may I help you?"), the Early Withdrawal Penalty on all of DHCU’s CDs is substantial: all of the interest earned.
That statement was confirmed on DHCU’s Truth In Savings page:
If your Certificate account is withdrawn prior to maturity, you will be charged a penalty of all interest on the entire amount of the Certificate.
Thanks to DA member, PearlBrown, for her Forum posting on this deal.
Membership in DHCU Community is open to individuals who live or work within a 50-mile radius of any DHCU branch. Membership is also available through employment at 130+ SEGs.
DHCU serves the Quad Cities area (southeastern Iowa and northwest Illinois), with three Iowa branches located in Bettendorf, Clinton, and Davenport, and five Illinois branches located in Geneseo, Milan, Moline (2), and East Moline.
The DHCU membership application process can be initiated by using an online form, but completing the process requires an in-person branch visit. Opening a CD also requires a branch visit, as DHCU’s online platform is currently dedicated to account management and bill pay services.
Credit Union Overview
DHCU Community Credit Union has an "A" rating on DepositAccounts.com, with a Texas Ratio of 5.22% (excellent) based on December 31, 2014 data. In the past year, DHCU has increased its total deposits by $19.46 Million, an excellent annual growth rate of 4.73%. Please refer to our financial overview of DHCU Community Credit Union for more details.
Originally chartered in 1935 (NCUA Charter # 61093) for the benefit of the John Deere Harvester Works Plant employees, the Credit Union began with a modest $40 in assets. With its 80th anniversary approaching, DHCU Community Credit Union has grown to over 40,600 members, with assets in excess of $487 Million.
How the CD Compares
When compared to other similar length-of-term CDs tracked by DepositAccounts.com, that require a similar minimum deposit and are available to Iowa and Illinois residents, DHCU Community Credit Union's 33-month CD Special is quite competitive.
The above rates are accurate as of 3/25/2015.
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.