Kemba Credit Union has a special 42-month CD with a 2.00% APY. The minimum balance to open and earn dividends is $2.5K, and no bonuses apply. There is a penalty of up to 6 months dividends for early withdrawal. The special rate is listed at the credit union’s CD page as of 6/25/14. Thanks to DA member Shorebreak for posting on this in the forum.
A 42-month CD is an unique length of term, but when compared to the highest earning nationally available 3-year and 4-year CDs, its rate of return falls squarely in the middle (1.75% to 2.25%).
Kemba also has a reward checking account (Get Green Checking) that pays 2.50% APY on balances up to $15K as of 6/25/14.
Membership is open to anyone who lives in the Greater Cincinnati area and holds a Kroger Plus Card. Membership is also open to those who live, work, worship or attend school in one of the following Ohio counties: Adams, Brown, Butler, Clark, Clermont, Clinton, Darke, Greene, Hamilton, Highland, Miami, Montgomery, Preble and Warren, or in one of the following Kentucky counties: Boone, Campbell, Carroll, Gallatin, Grant, Kenton, Owen, Pendleton. Membership is also available for those who live or work in Indiana counties of Dearborn or Franklin. Refer to the credit union's eligibility page for the full details. Membership requires a minimum balance of $5 in the savings account.
Branches are located in Ohio cities of Cincinnati, Amelia, Harrison, West Chester. In addition, there are branches located in Bluffton, Indiana and Florence, Kentucky.
The credit union has an overall health grade at DepositAccounts.com of an A+ with a Texas Ratio of 2.13% (excellent) based on March 2014 data. Please refer to our financial overview of Kemba for more details. The credit union is federally insured by the NCUA (Charter # 61810).