Wildfire Credit Union (Wildfire CU) is currently offering a 62-month CD Special, which earns 3.25% APY. The minimum opening deposit is $500, and new money is required to qualify for the 3.25% APY. According to the fine print on the Certificate of Deposits page, “amounts withdrawn from Wildfire accounts in the preceding 30 days will not qualify” as new money.
|3.00%||$500||-||Wildfire Credit Union||62 Month CD Special - New Money Only|
As stated in the Explanation of Rates & Service Charges document, there are no partial withdrawals permitted, only early closures.
If you withdraw any principal before the maturity date, any accrued interest will be credited to the certificate, and the certificate will be closed. The balance remaining after the withdrawal will be transferred to another interest-bearing account. We will impose a penalty if you make a withdrawal prior to the maturity date
The Early Withdrawal Penalty imposed on the 62-month CD Special will be 365 days of interest on the full balance.
Headquartered in Saginaw, Michigan, Wildfire Credit Union’s field of membership (FOM) expanded six months ago, with individuals who live, work, worship, or attend school anywhere in the State of Michigan now eligible to join. Prior to this latest expansion, the FOM included only 23 out of the state’s 83 counties.
Family/household members of current Wildfire CD members are welcome to apply.
Joining Wildfire CU and/or opening a CD Special can be done online, by phone (800.227.2328), or at any of four full-service Michigan branches located in Bay City, Midland, and Saginaw (2). There are also five school branches in Bay City and Saginaw, which are “open to students and staff throughout the school year during the lunch hours.”
A minimum balance of $5 is required to open a savings account to become a member. Once you open a savings account, you will have the opportunity to apply for additional products and services.
Wildfire CU participates in the CO-OP Shared Branching/ATM network.
The CO-OP network offers 3,500 credit unions with more than 5,000 branches, nearly 30,000 surcharge-free ATMs nationwide, online banking tools and more.
Credit Union Overview
Wildfire Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.72% (excellent) based on March 31, 2019 data. In the past year, Wildfire CU has increased its total non-brokered deposits by $29.23 million, an excellent annual growth rate of 4.37%. Please refer to our financial overview of Wildfire Credit Union (NCUA Charter # 60057) for more details.
Established in 1937, Wildfire Credit Union was originally known as the Saginaw Telephone Employees Credit Union (STECU). For the first 40 years, STECU concentrated on its membership and organic growth. A merger with the Flint Telephone Employees Credit Union in 1977 set the Credit Union on the road to expansion. Following a change in the FOM in 1984, the name was changed to the Communications Family Credit Union (CFCU), reflecting the inclusion of communications-related industry employees. Shortly thereafter, two newspaper employees credit unions merged with CFCU. Starting in 2004, a community charter was adopted, with a total of 23 Michigan counties added to the FOM. The Wildfire re-brand occurred in 2009, as “membership began to grow like … wildfire,” and about six months ago, the charter expanded to include all Michigan residents. Wildfire CU is currently the 20th largest credit union headquartered in Michigan, with more than 48,000 members and assets in excess of $806 million.
How the CD Special Compares
When compared to 331 similar length-of-term CDs tracked by DepositAccounts.com that require a minimum deposit of $5k or less and are available to Michigan residents, Wildfire Credit Union's 62-month CD Special APY currently shares the top spot with Team One Credit Union’s 60-month CD APY.
The above rates are accurate as of 8/2/2019.
Looking for the best CD rates, either nationwide or state specific? Please refer to DepositAccounts.com’s CD Rates Table.