XCEL Federal Credit Union Adds 24-Month CD Promo, 2.50% APY


Deal Summary: 24-month Winter Promo CD, 2.50% APY, $500 minimum deposit, available through 1/31/2020.

Availability: Easy membership requirement

If your stocking stuffers weren’t that exciting, perhaps XCEL Federal Credit Union’s (XCEL) newly added 24-month Winter Promo CD (2.50% APY) will make you feel jolly. The minimum opening deposit is $500, with no stated balance cap. According the fine print on the Rates page, “This offer expires 01/31/20 or may be withdrawn at any time for any reason.”

The 24-month Winter Promo CD is also available as an IRA (Traditional and Roth), earning the same APY with the same funding requirements.

As stated in the Share Certificate Account Disclosure, the Early Withdrawal Penalty reads as follows:

If your certificate has an original maturity of 12 months or longer, the
penalty amount will equal 180 days of dividends on the amount withdrawn.

Kasasa Cash

In June, XCEL raised the rate on its Kasasa Cash checking account to 2.50% APY on qualifying balances up to $25k and that rate is still in effect.

For more details about the Kasasa Cash checking account, please refer to my June 25th blog post.


Headquartered in Bloomfield, New Jersey, XCEL Federal Credit Union offers membership to employees and members of more than 80 companies and organizations, with options for almost any U.S. citizen/resident alien to qualify.

Easy Membership: Individuals who join the American Consumer Council (ACC) qualify for XCEL membership.

UPDATE: ACC is no longer associated with XCEL. CSR stated that the Ocean Running Club ($20 membership fee) and the Antique Automobile Club of America ($40 yearly dues) are open to anyone and qualify for XCEL membership.

Employment: Employees of more than 60 companies (both large and small, including 14 Federal Government Departments) are eligible to join.

Organization Affiliation: Members of a variety of national and location associations also qualify for membership.

Family Relationship: Immediate family members (parents, siblings, children, grandparents, and grandchildren) of current XCEL members in good standing are also welcome to apply.

Joining XCEL and/or opening a Winter Promo CD can be done online, or at the New Jersey branch located in Jersey City. (The Bloomfield operation headquarters has an on-site ATM, but no other member services are available.) There are also two New York City branches, with the Rockefeller Center location open to the public, but the Federal Place branch requires ID for admission, with a search protocol.

Open your savings account with a $5 deposit and you're an XCEL Member!

XCEL participates in the CO-OP Shared Branch and ATM networks, providing members with access to more than 7,000 branches and more than 30,000 surcharge-free ATMs.

Credit Union Overview

XCEL Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 12.14% (above average) based on September 30, 2019 data. In the past year, the XCEL has increased its total non-brokered deposits by $16.01 million, an excellent annual growth rate of 10.42%. Please refer to our financial overview of XCEL Federal Credit Union (NCUA Charter # 16128) for more details.

Established in 1964 by Port Authority New York/New Jersey employees, XCEL Federal Credit Union is currently the 15th largest credit union in New Jersey, with more than 18,200 members and assets in excess of $187 million. An August 2014 article in New Jersey Business Magazine paints a picture of strength and perseverance.

Until September 11, 2001, we were headquartered in the World Trade Center (Tower 1 – 39th Floor), but now we call North Jersey our home. But from that tragedy came a new way to do banking. On September 10th of that year, about 4-7% of our transactions were done remotely by our members – meaning through home banking, phone banking or ATMs.

Then the tragedy struck. Our members still needed to access their money even though the building was no longer there. So, they taught themselves how to use their computers to access their accounts.

Today, nearly 91% of transactions are done through touchtone phones, the Internet, smart phones, our shared branching and shared ATMs or through our own advanced ATMs. It’s pretty amazing to see. It shows the resilience of our nation and our members.

How the Winter Promo CD Compares

When compared to 206 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationwide, XCEL Federal Credit Union's 24-month Winter Promo CD APY currently ranks first

The above rates are accurate as of 12/27/2019.

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

Related Pages: New York checking accounts, reward checking accounts, 5-year CD rates, nationwide deals

  |     |   Comment #1
I had a CD with them a couple years ago. When I opened that CD they told me once they got their goal of 21 million and once they hit that goal the offer was ended. This is a risky drink operation.
  |     |   Comment #5
I also opened promo CDs with them awhile back;;last one matured in early 2017. None of their offers lasted very long, BTW....I think we've seen firsthand that not many of these do.

XCEL was very accommodating ;even let me do my own IRA transfer by allowing me to pick up my closing check balance (to bring to the new custodian in person). Don't know how their customer service is now, but it sure was great then.
  |     |   Comment #6
I called and CSR told me they would not title the CD in a trust name or put a trust as a beneficiary.
Predatory Depositor
  |     |   Comment #7
You may want to consider speaking to your attorney about naming a trust as beneficiary as an alternative to titling an account in the name of the trust. Some FIs that do not accept trust accounts will suggest that you name the trust a beneficiary instead. However, doing that may invalidate some or all of the provisions and benefits of the trust. So you should use caution.
  |     |   Comment #8
What is FI??
Predatory Depositor
  |     |   Comment #9
Financial institution.
  |     |   Comment #10
The problem with Xcel is in the fine print: "...24 Month Winter Promo- This offer expires 01/31/20 or may be withdrawn at anytime for any reason,,, rates are subject to change without notice...." In addition, they have a spotty service record. On the plus side, they do accept ACH deposits with no cap.
For several months now, Fairbanks, AK based MAC Federal CU has been running a promo on its 24 month IRA CD, paying 2.80% apy (non-IRA is 2.40%). Their CSR could not say for how much longer they would keep that rate. Has anyone had experience with them?
XCEL Federal Credit Union Ups Kasasa Cash To 2.50% APY
Deal Summary: Kasasa Cash, 2.50% APY on qualifying balances up to $25k.

Availability: Easy membership requirement

It’s been more than three years since I wrote about XCEL Federal Credit Union’s (XCEL) Kasasa Cash account. In January 2016, the Kasasa Cash was restructured, with the qualifying balance cap increased to $50k (previously $15k), while the 2.01% APY remained in effect. The $50k cap was offered for about six months before it was reduced to $25k, effective June 1, 2016.

This week saw another reworking of the Kasasa Cash...

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XCEL FCU Has Limited-Time 12-Month CD Special
Deal Summary: 12-month CD, 2.02% APY, $500 minimum deposit

Availability: Easy membership requirement

XCEL Federal Credit Union (XCEL) is offering a limited-time rate on its 12-month CD (2.02% APY). According to a promotional email DA reader, alan1, received, “This special offer expires 2/28/2018 but may be withdrawn at any time for any reason. Minimum certificate deposit is $500.”

The 12-month CD is also available as an IRA (Traditional, Roth, and CESA) earning the same APY, with the same funding requirements.

As stated on the ”Ask XCEL” page, the Early...

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XCEL FCU 60-Month CD Rate Increased
Availability: Easy membership requirement

To quote DA reader, cumulus, “We have a new 5-year CD rate leader!”

XCEL Federal Credit Union (XCEL) has raised the rate on its 60-month CD (2.50% APY). The minimum deposit is $500, with no stated balance cap.

The 60-month CD is also available as an IRA (Traditional, Roth, and CESA) earning the same APY, with the same funding requirements.

As stated on the penultimate page of XCEL’s Account Disclosures, the Early Withdrawal Penalty reads as follows:

Thanks to cumulus for his Forum post about this good...

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XCEL FCU (Easy Membership) Restructures Kasasa Cash Account
Availability: Easy membership

More than two years ago, I wrote about XCEL Federal Credit Union’s (XCEL FCU) new Kasasa Cash and Kasasa Saver accounts. At the time, the Kasasa Cash account earned 2.01% APY on qualifying balances up to $15K and 0.30% APY on qualifying balances of $15K+.

XCEL FCU recently restructured the Kasasa Cash account, raising the qualifying balance level to $50K (while still maintaining the 2.01% APY), and lowering the APY on qualifying balances exceeding $50K to 0.03% APY.

The monthly requirements for Kasasa Cash are rather uncomplicated:

  • Receive...

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XCEL FCU (Easy Membership) Has Top Rate 12-Month CD
Availability: Easy membership

It’s Black Friday and while prices may be dropping at retail stores throughout the country, XCEL Federal Credit Union (XCEL FCU) has just raised the rates on all its CDs (with the exception of the 24-month CD), making most of XCEL FCU’s CD product line quite competitive.

The standout is the 12-month CD (1.50% APY), which now tops the nationally available 1-Year CD list.

The minimum deposit for any of these CDs is $500 of new money. The CDs are also available as IRAs (Traditional, Roth, and...

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