Featured 1-Year CD Rates

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1.50*%$10k-McGraw Hill Federal Credit Union60 Month CD
1.50*%$10k-McGraw Hill Federal Credit Union60 Month IRA (Traditional, Roth, CESA)
Accounts mentioned in this post. Rates as of May 23, 2016.

Top CD Rates at McGraw-Hill Federal Credit Union - Easy Membership


McGraw-Hill Federal Credit Union is again offering a top CD rate. Hopefully, it will last longer than the last time it was offering a top rate in October. This new top rate is 1.50% APY for a 15-month share certificate. Minimum deposit is $1,000. The credit union also has a competitive 5-year CD with a 2.25% APY. This has a $10,000 minimum deposit. CDs are also available in IRAs. These rates are listed in the credit union's deposit rates page as of 4/6/2012.

With help from readers, we learned in October that the early withdrawal penalty for share certificates with terms over one year is up to 180 days of dividends.

Membership Eligibility

As I reported in October, membership used to be limited to only select employee groups (connected with the McGraw-Hill Company). However, this has changed. Anyone can qualify by joining the VOICE Foundation. You can see this in the credit union's express application below the membership eligibility box. When I spoke with the CSR last October, I was told that you can join the VOICE Foundation with a $25 payment, and that will qualify you for credit union membership. I was told that the best way to join would be to submit this application, and let them contact you for information on what needs to be mailed to join and open the accounts. I don't know how quick and easy this process might be.

The membership process will be quicker if you can visit a branch. McGraw-Hill Federal Credit Union branches are located in New York, NY and in East Windsor, New Jersey. The credit union is also part of the shared branch network which can make it quicker for making deposits and withdrawals.

McGraw-Hill FCU Overview

It's a moderate size credit union with $214 million in deposits and 45 employees. The credit union has solid financial ratings. At DepositAccounts.com it has 5-star rating (out of 5) with a Texas Ratio of 2.63% (excellent) based on December 2011 data. Please refer to our financial overview of McGraw-Hill Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 861).

How These CD Rates Compare

After this McGraw-Hill FCU deal, the best nationally available CD rate with terms close to 15 months is 1.20% APY at KeySource Commercial Bank (18 months) and Incredible Bank (19 months).

The best 5-year CD rate that's nationally available is 2.27% APY at Melrose Credit Union. If you have a military connection, you may be able to qualify for Air Academy Federal Credit Union which has a 2.45% APY 5-year CD for a $10K minimum deposit.

These rates are accurate as of 4/06/2012.

Searching for Top CD Rates

To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of DepositAccounts.com.

Related Pages: McGraw Hill Federal Credit Union, New York, Philadelphia, CD rates

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Anonymous   |     |   Comment #1
1APY = Annual Percentage Yield. Rate valid as of March 1, 2012. Rate shown requires a minimum deposit of $500 and a term of 15 months. Maximum deposit amount: $50,000. Rate and term is subject to change without notice. Other rates and terms are available. Penalties apply for early withdrawal. Fees could reduce the earnings on the account. Rate shown valid only on the following deposits: (1) New money not currently on deposit with MHFCU (2) Funds that have been on deposit with MHFCU within the last 30 days only (3) Existing MHFCU certificates scheduled to mature on or before April 30, 2012.

This looks like it could end by the end of the month, not leaveing to much time to join.

also I wonder if you are limited to only one CD because of the $50,000 limit.

Will see Monday.