Now through March 31, 2019, Wescom Credit Union (Wescom) is offering a 13-month CD Special, earning 2.85% APY. The minimum deposit is $500 of new money, and the maximum deposit is $250k. New money is defined as “funds not already on deposit with Wescom Credit Union, its divisions, or subsidiaries.”
The 13-month CD Special is also available as an IRA (Traditional and Roth), earning the same 2.85% APY with the same funding requirements.
As part of its 85th Anniversary celebrations, Wescom is also offering a 5-month CD Special (2.34% APY). Unlike the 13-month CD Special, new money is not required.
According to the Certificate Account Disclosure, the Early Withdrawal Penalty reads as follows:
Certificate Terms of 6 months – 23 months, 90 days of dividends
Headquartered in Pasadena, California, Wescom Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, worship, or attend school in any of the Southern California counties of Los Angeles, Orange, Riverside, San Bernardino, San Diego, Santa Barbara, or Ventura eligible for membership.
Family members (spouse, domestic partner, sibling, parent, child, grandparent, grandchild, aunt, uncle, niece, or nephew) of Wescom members in good standing are also welcome to apply.
Joining Wescom and/or opening a CD can be done online, or at any of 23 California branches located in Anaheim, Corona, Costa Mesa, Culver City, Hawthorne, Irvine, La Habra, Laguna Niguel, Ontario, Orange, Oxnard, Palmdale, Pasadena, Redlands, Riverside, Sherman Oaks, Signal Hill, Simi Valley, Stevenson Ranch, Thousand Oaks, Torrance, Tustin, and West Covina.
Credit Union Overview
Wescom Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 2.34% (excellent) based on September 30, 2018 data. In the past year, Wescom has increased its total non-brokered deposits by $105.27 million, an excellent annual growth rate of 3.84%. Please refer to our financial overview of Wescom Credit Union (NCUA Charter # 66703) for more details.
Wescom Credit Union is currently the tenth largest credit union in California, with more than 193,000 members and assets in excess of $3.8 billion. Established in 1934, the original Telephone Employees Credit Union was founded by 13 Pacific Telephone employees with $65 in pooled funds. The FOM remained exclusive to Pacific Telephone until the mid-1980s when additional SEGs were added. The Wescom rebrand occurred in 1996 to “better reflect the more diverse companies and communities it was serving.”
How the CD Compares
When compared to 293 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Wescom Credit Union's 13-month CD APYs currently ranks third.
The above rates are accurate as of 2/27/2019.
Looking for the best CD rates, either nationwide or state specific? Please refer to DepositAccounts.com’s CD Rates Table.