Xceed Financial CU Adds Nationally Available 30-Month CD, 2.25% APY

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Deal Summary: 30-Month Share Certificate, 2.25% APY, $500 minimum deposit

Availability: Easy Membership Requirement

It has been a couple of years since Xceed Financial Credit Union (Xceed) had any products that I considered to be “wow-worthy” or even blog-worthy. That changed last week when Xceed added a 30-month Share Certificate that earns 2.25% APY. The minimum deposit is $500, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.25%$500-Xceed Financial Federal Credit Union30 Month CD
Accounts mentioned in this post. Rates as of January 17, 2018.

In yet another example of the flattening yield curve trend, the 30-month Share Certificate’s APY is actually 25 bps higher than Xceed’s 60-month Share Certificate (2.00% APY).

As stated in the Truth-in-Savings disclosure, the Early Withdrawal Penalty reads as follows:

Any withdrawal of the principal amount held in the account that does not reduce the balance of the account below the minimum opening balance will be subject to the following penalties:

the lesser of all dividends earned or ninety (90) days’ loss of dividends (for certificates with a maturity of 365 days or less), or 180 days’ loss of dividends (for certificates with a maturity greater than 365 days), with seven (7) days’ minimum of simple dividends on withdrawals during the first six (6) days.

Availability

Headquartered in El Segundo, California, Xceed Financial Credit Union has a way for almost all U.S. citizens and resident aliens with a valid Social Security number to join.

Easy Membership Requirement - Members (and their immediate family members) of the following organizations are eligible to join Xceed: Friends of the Webster Public Library ($10 fee), Heal the Bay ($25 membership fee), Buffalo Zoo ($45 fee), and Seneca Park Zoo ($55 fee). Links to these organizations are included on Xceed’s Membership Eligibility page.

Employment - Employees and retirees of Xerox, The Document Company and its subsidiaries, OfficeMax, and nearly 400 other SEGs are eligible for membership.

Residency - Members of the following communities are eligible to join: Carrollton, Dallas, Farmers Branch, Irving, and Lewisville, Texas; Greater Rochester, New York; Rosemont, Illinois; San Jose, California; and St. Petersburg, Florida.

Family Relationship - Family members (parents, siblings, spouses, grandparents, children) and roommates of current Xceed membership are welcome to apply.

Joining Xceed and/or opening a Share Certificate can be done online, or at any of the 10 full-service branches located in Southern California (4) and in the greater Rochester (NY) area (6). There are also single branches (near Xerox facilities) in Norwalk, CT; Fuquay Varina, NC; Parsippany, NJ; Harrisburg, PA; and Lewisville, TX.

Credit Union Overview

Xceed Financial has an overall health grade of "B" at DepositAccounts.com, with a Texas Ratio of 7.37% (excellent) as of September 30, 2017 data. Xceed has an above average capitalization level (10.37%), the result of holding $923.32 million in assets with $95.72 million in equity. Please refer to our financial overview of Xceed Financial Credit Union (NCUA Charter # 20068) for more details.

Xceed Financial Credit Union began in 1964 as Scientific Data Systems (SDS) Credit Union in Southern California. SDS was a technology pioneer that was acquired by Xerox in 1969. SDS was renamed Xerox Data Systems and in 1970, the Credit Union became Xerox Federal Credit Union. The Xceed Financial Credit Union re-brand occurred in 2008, as part of a multi-year transformation. Xceed is currently California’s 52nd largest credit union, with more than 64,300 members and assets in excess of $923 million.

How the Share Certificate Compares

When compared to the 197 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available nationwide, Xceed Financial Credit Union’s 30-month CD APY currently shares second place with two other CDs.

Interest RateCD Length of TermCredit Union/Bank
2.28% APY36-Month CDUSALLIANCE Financial
2.25% APY30-Month Share CertificateXceed Financial Credit Union
2.21% APY30-Month CDEBSB Direct

The above rates are accurate as of 1/9/2018.

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

Related Pages: New York CD rates, Rochester CD rates, Raleigh CD rates, Harrisburg CD rates, Dallas CD rates, Los Angeles CD rates, San Francisco Bay CD rates, 5-year CD rates, nationwide deals

Comments
Nothing
Nothing   |     |   Comment #1
Been a member for years in Calif and NY...excellent service and great rates!
me1004
me1004   |     |   Comment #3
xxxxxxxx deleted/moved
me1004
me1004   |     |   Comment #2
Just FYI, this is one of those financial institutions that will not let you list a POD beneficiary without also providing that person's Social Security number, something that is not necessarily available to you and is not required by law or regulation. That is their in-house rule, and even going to a supervisor will not get it budged. Except ...

Except if you got to the top supervisor, the CEO, which I did, explained the preposterousness of it -- for instance, what if I want to name her as my beneficiary, is she going to give me her Social Security number? I guessed at what her e-mail address would be, and contacted her. Her response -- I guessed right -- was that their rule sounded ridiculous (it is), she had no idea why they had it, and she waived it for me. But, she did not do anything to change the rule, it remains in place -- which seems kind of ridiculous to me. So, if this is an issue for you, contact the CEO direct and point out how ridiculous that rule is and ask her to waive it.
me1004
me1004   |     |   Comment #4
Oh, also, I note, it can take a while to get your membership in one of the outside organizations and the paperwork from them to be able to start your membership. That can take a week or more, so this is something you need to start in advance.

I used Friends of the Webster Public Library (I note, they have a cheaper price for seniors, so if you are a senior, check into that). As I recall, I did not have to wait for the normal membership letter, Xceed agreed to start my membership with the e-mail from Webster showing that I had paid and membership papers would be sent.

Just an aside, its kind of odd that you can't qualify for membership if you live in the El Sugundo, area where they are headquartered, but you can is you live in certain other areas far away in other states. :) As I recall, Xceed started as the CU for employees of Poloroid, and I guess it originally was headquartered elsewhere, and they haven't updated their membership rules for their current headquarters.
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