Over the weekend, Wayne Westland Federal Credit Union (WWFCU) added a 15-month CD Special, which earns 3.01% APY. This limited-time offer requires a minimum $5k deposit and there is no stated balance cap.
When compared to the rest of WWFCU’s CDs, the 15-month CD Special is a real standout: rates for other available CDs range from 0.45% APY (12-month) to 1.56% APY (60-month).
According to CSR, the Early Withdrawal Penalty is six months interest on the amount being withdrawn, with partial withdrawals permitted.
Headquartered in Westland, Michigan, Wayne Westland Federal Credit Union’s field of membership (FOM) is residency-based, with individuals who live, work, worship, attend, or volunteer in Wayne County eligible to join. (As Michigan’s most populous county, more than 17% of the state’s population resides in Wayne County.)
WWFCU’s Membership page also states that individuals who “participate in programs to relieve poverty or distress which are located” in Wayne County also qualify for membership.
Joining Wayne Westland Federal Credit Union and/or opening a CD Special must be done at the sole Michigan branch located in Westland on S. Wayne Road.
Credit Union Overview
Wayne Westland Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 5.34% (excellent) based on September 30, 2018 data. In the past year, WWFCU has increased its total non-brokered deposits by $4.88 million, an excellent annual growth rate of 5.49%. Please refer to our financial overview of Wayne Westland Federal Credit Union (NCUA Charter # 5928) for more details.
Wayne Westland Federal Credit Union was established in 1952 as the Kaiser-Frazer Employees Credit Union, serving the employees of the short-lived automobile company, Kaiser-Frazer. (If you have any interest in old cars, the history of Kaiser-Frazer is fascinating.) Two years later as Kaiser-Frazer began to fail, the Credit Union converted to a community-based charter, becoming the Wayne Community Federal Credit Union. The Wayne Westland re-brand occurred in 1974 following the formation of the City of Westland.
How the CD Special Compares
When compared to 219 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Wayne Westland Federal Credit Union's 15-month CD Special APY currently ranks second.
The above rates are accurate as of 12/18/2018.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table.