Illinois-based Vibrant Credit Union (Vibrant) recently introduced a 15-month CD Special, which currently earns 1.30% APY. Vibrant CDs have no minimum opening deposit requirement or stated balance cap.
As stated in the Rates & Service Charges document, the heavy-handed Early Withdrawal Penalty reads as follows:
We may impose a penalty if you withdraw any of the principal of the Certificate Account before the maturity date.
1) Amount of Penalty. The amount of the penalty is all of the dividends earned on the account.
Funding any type of CD can be done by an ACH or wire transfer. According to CSR, the easiest way to fund a CD is through an internal transfer from a Vibrant checking or savings account. Vibrant participates in the CO-OP Shared Branch network, which makes depositing money relatively easy.
Maturing funds will be distributed by a cashier’s check to the address on file, wire transfer, or a transfer to a Vibrant checking or savings account. There is a seven day grace period before the 15-month CD automatically renews as a 12-month CD.
Headquartered in Moline, Illinois, Vibrant Credit Union’s field of membership (FOM) includes three ways to qualify for membership.
Residency: U.S. citizens who live in any of 22 northwest Illinois counties, 15 southeast Iowa counties, three west central Indiana counties, or three southwest Wisconsin counties are eligible to join.
Employment: Employees of more than 200 companies (listed only on the online application) also qualify for membership.
Other: As stated on the online application, the third eligibility option reads:
I want to qualify a different way.
No problem! Complete the rest of the application and we will contact you!
Joining Vibrant and/or opening a CD Special can be done online. Not all of Vibrant’s 11 branch locations in Illinois, Iowa, and Indiana are currently for walk-in transactions. The COVID-19 Update page provides complete branch information, but as of yesterday, the following locations are open during regular business hours.
- Member Contact Center, Moline, IL
- Brady Street Branch Drive-Thru, Davenport, IA
- Bettendorf Branch Drive-Thru, Bettendorf, IA
- Clinton Branch Drive-Thru, Clinton, IA
- SouthPark Branch Drive-Thru, Moline, IL
- Gilbert Branch Drive-Thru, Danville, IL
Your membership at Vibrant starts with as little as $5 in a credit union savings account.
Vibrant participates in the CO-OP Shared Branch network and the AllPoint ATM network.
Credit Union Overview
Vibrant Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.89% (excellent) based on December 31, 2019 data. In the past year, Vibrant CU has increased its total non-brokered deposits by $47.19 million, an excellent annual growth rate of 9.28%. Please refer to our financial overview of Vibrant Credit Union (NCUA Charter # 61093) for more details.
Chartered in 1935 for the benefit of the John Deere Harvester Works Plant employees, the original Deere Harvester Credit Union opened its doors with a modest $40 in assets. In the mid-90s, the field of membership was changed to include non-employees, as well as John Deere employees.
In 2005, John Deere requested the credit union to rebrand and remove any name/affiliation with the John Deere brand. At that time we changed from Deere Harvester Credit Union to DHCU Community Credit Union (an acronym without a meaning).
Following the DHCU rebrand, there was still confusion about non-employees being eligible for membership, so the name was changed to Vibrant Credit Union in late 2015.
Between February 2017 and April 2018, Vibrant CU acquired one Iowa (IntegrUS Credit Union) and four Illinois credit unions (Salt Creek Credit Union, First Illinois Credit Union, Electris Energy, Inc. Employees Credit Union, and Dekalb County Credit Union). Vibrant Credit Union is currently the 13th largest credit union headquartered in Illinois, with more than 50,000 members and assets in excess of $809 million.
How the CD Special Compares
When compared to 140 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available within the FOM, Vibrant Credit Union’s 15-month CD Special APY currently ranks second.
The above rates are accurate as of 7/8/2020.
To search for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.