Westerra CU (CO) Hikes Rate on 25-Month Bump-Up/Add-On CD

POSTED ON BY

Deal Summary: 25-month Bump-Up/Add-On CD Special, 1.80% APY; $10k minimum deposit, new money.

Availability: Residents of Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas and Jefferson Counties, and the City of Aurora, Colorado; several SEGs, including Denver Public Schools, Jeffco Public Schools, Safeway Corporation, and Sheet Metal Workers Local #9.

Last week, Westerra Credit Union (Westerra) raised the rate on its 25-month Bump-Up/Add-On CD Special (1.80% APY) by 50 bps. This 25-month CD has been part of Westerra’s product line for more than two years; the current APY is the highest ever, 70 bps higher than its initial rate.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.50%$10k-Westerra Credit Union25 Month Bump Up & Add-On CD Special
Accounts mentioned in this post. Rates as of October 20, 2017.

The Add-On features allow for one additional deposit to the CD anytime during the 25-month term, but the additional deposit must also be new money.

The fine print on the promotion page shows exactly how limited the Bump-Up option really is:

During your CD term, you may bump-up your Annual Percentage Rate one time to match a higher rate you find advertised on a regular 24-month CD (for the 25-Month CD Special) at any of these banks in Denver: Bank of the West, BBVA Compass, Chase, First Bank, Key Bank, TCF Bank, US Bank or Wells Fargo.

As stated in the Agreements, Disclosure, and Information Guide, the Early Withdrawal Penalty reads as follows:

For CD and IRA CDs, the amount of the early withdrawal penalty for your account is 90
days’ interest for a CD of 12 months or less, and 180 days’ interest for a CD over 12 months.

Availability

Headquartered in Denver, Westerra Credit Union’s field of membership (FOM) is primarily residency based, with all residents of Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas or Jefferson Counties, and the City of Aurora, Colorado, eligible to join.

In addition, employees of many SEGs, including Denver Public Schools, Jeffco Public Schools, Safeway Corporation, and Sheet Metal Workers Local #9, also qualify for membership.

Joining Westerra can be done online, or in-person at any of nine Colorado branches located in Arvada, Aurora, Centennial, Denver (3), Lakewood (2), and Littleton.

Opening the 25-month CD can be done at any of the above mentioned branches, or by calling 303.321.4209.

Credit Union Overview

Westerra Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 0.76% (excellent) based on December 31, 2016 data. In the past year, Westerra has increased its total non-brokered deposits by $79.02 million, an excellent annual growth rate of 6.98%. Please refer to our financial overview of Westerra Credit Union (NCUA Charter # 65788) for more details.

Westerra Credit Union is currently Colorado’s fifth largest credit union, with more than 106,400 members and assets in excess of $$1.4 billion. Founded in 1934 as the DPS Credit Union by eight Denver school teachers, its initial mission was making loans available to other teachers. In the past 12 years, there have been four mergers with other area credit unions: Safeway Rocky Mountain Credit Union (2005), Gateway Credit Union (2006), Jeffco Credit Union (2009), and the Sheet Metal Workers #9 Credit Union (2013). The Westerra name was adopted in 2006, to better describe its expanding and diverse membership.

How the Bump-Up/Add-On CD Compares

When compared to the 285 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, Westerra Credit Union's 25-Month Bump-Up/Add-On CD Special APY currently shares the top spot with three other CDs. The Add-On feature only adds to its competitiveness.

The above rates are accurate as of 5/8/2017.

To look for the best CD rates, both nationwide and state specific, please refer to our CD rates table, or our Rates Map page.

Related Pages: Denver CD rates, 5-year CD rates

Comments
$125 Checking Account Bonus at Westerra Credit Union in Colorado - Local Only

Westerra Credit Union is again offering a checking account promotion. This time there's no gift option. The bonus is $125 cash. Direct deposit is required. The promotion is listed on the credit union's front page and on its checking account page as of 11/07/2011. Here's the offer's small print:

From the small print it appears any of the checking accounts can qualify. The only problem with the Better Than Free Checking is that it requires direct deposit. Value checking is also free, but doesn't require direct deposit. The two main advantages...

Continue Reading
$125 Checking Account Promotion at Westerra Credit Union in CO - Local Only

Westerra Credit Union has a checking account promotion in which you can receive either a TomTom XL330 GPS System or $125 in cash for opening a Better Than Free Checking account with Direct Deposit. The promotion is listed in the Westerra checking page as of 5/09/2010. Below is the important small print for the offer:

The cost at Amazon for a TomTom XL 330-S 4.3-Inch Widescreen Portable GPS Navigator is $128.54 with free shipping. Unless you're looking for this type of GPS, the $125 cash looks better to me.

From the small...

Continue Reading
6.00% 7-Month / 5.65% 60-Month CD at a Colorado CU (Gateway)
Gateway Credit Union is offering current members a 6.00% APY 7-month certificate of deposit. The minimum is $5,000. You must have established membership on or before 12/1/06 and have a Share Account and at least one additional active product. For those who are not yet members, they have very competitive rates on the standard long-term certificates which don't have the established membership restriction. These include a 5.65% APY 60-month CD, 5.60% APY 54-month/48-month CD and a 5.55% APY 42-month CD.

Gateway has just merged with Westerra Credit Union which also lists...

Continue Reading