2019 Study of CD Early Withdrawal Penalties and How They Have Changed
Bank & Credit Union Health Grades Updated from Latest Data (2018 Q4)
CD Rates Summary March 12, 2019
Federal Reserve, the Economy and CD Rate Forecast - March 12, 2019CD Rates Summary March 12, 2019
POSTED ON BY Ken Tumin
We are still seeing a slow decline in CD rates from the rate leaders. On the positive side, a few credit unions and banks have kept their CD specials.
Brokered CD Rates
The top 5-year brokered CD rate has now fallen below 3% (non-callable and new issue). Today at around 11:00 am, the top 5-year rate at both Fidelity and Vanguard was 2.95%. Two weeks ago, there was a 5-year rate of 3.15% at Fidelity and 3.05% at Vanguard. The 10-year and 7-year rates also had declines from two weeks ago. The 10-year fell 5 bps to 3.20%, and the 7-year fell 10 bps to 3.10%.
Not all brokered CD rates fell. Brokered CD rates with terms of under two years actually had small gains from two weeks ago. The highest 1-year brokered CD rate was 2.50% at Vanguard. Two weeks ago the highest was 2.45%.
Direct CD Rates
For direct CDs in the last two weeks, several of the rate leaders have cut their CD rates. This is especially the case at credit unions which updated their rates for March. We have also lost a few top CD specials. We haven’t been seeing many new CD specials to replace the old ones.
Long-Term CD Rates
Several of the credit unions that were offering top long-term CD rates cut their rates in March. These include PenFed (5-year APY fell 10 bps to 3.05%), NASA Federal (49-month APY fell 40 bps to 2.95%), and Connexus Credit Union (5-year APY fell 40 bps to 3.00%).
There are still a couple of hold-outs that haven’t cut their long-term rates. These include Mountain America Credit Union (5-year remains at 3.51% APY) and Utah First Credit Union (5-year remains at 3.50% APY). These are now the top nationally-available 5-year CD rates.
State Bank of India and State Bank of India of Illinois continue to offer the highest nationally-available 5-year rate for a bank. Their rates fell a bit from two weeks ago, but they continue to be very competitive. Both branches are offering these top rates on Senior Citizens CDs. The Illinois branch is offering 3.45% APY for a $2.5k minimum. The New York branch is offering 3.44% APY for a $25k minimum. The Illinois branch offers online account opening, but the New York branch requires applicants to mail in forms and documents.
The top 5-year CD rate from an internet bank is 3.25% APY. This is available from both Colorado Federal Savings Bank (CFSB) and First Internet Bank. The best deal out of the two is the 5-year at CFSB since the early withdrawal penalty is only 6 months of interest.
A top-rate 5-year CD like from CFSB is a good choice if you’re concerned with rates falling. The 6-month early withdrawal penalty is on the low end for 5-year CDs which reduces the risk of being locked into a CD if rates should start to rise again in the near future.
Mid-Term CD Rates
We lost a few mid-term CD specials that had been rate leaders. These include the 19-month and 13-month CDs from Hyperion Bank, the 15-month CD special from NASA Federal Credit Union, and the 18-month CD special at Freedom Credit Union.
Navy Federal Credit Union continues to offer a very nice 17-month CD special with a 3.25% APY. This special allows unlimited add-on deposits for a maximum balance of $50k.
Mountain America Credit Union continues to offer a 2-year Term Deposit with a 3.25% APY and a 3-year Term Deposit with a 3.35% APY. Minimum deposit is $500. This credit union also offers an add-on-deposit version of these CDs that allows a maximum balance of $100k. These are called the Term Plus Deposit accounts.
One small rate hike to note is from the new internet bank, Rising Bank. Its 18-month Rising CD rate increased from 2.85% to 2.92% APY. The 36-month Rising CD rate remains the same at 3.00% APY. These Rising CDs have both an add-on option and a rate-bump option. The most useful of the two in my opinion is the add-on deposit option. For the 18-month Rising CD, you have one option to make an additional deposit during the term. For the 36-month Rising CD, you have two options to make additional deposits. Minimum deposit for additional deposits is $5k.
Add-on CDs from Rising Bank and Mountain America Credit Union can be very helpful to hedge against falling rates. Open these CDs with the minimum deposit, and wait to see what happens with the rates. If rates should happen to fall, you can add onto these CDs instead of opening a new CD which will likely have a lower rate.
Short-Term CD Rates
Like the longer-term CDs, we lost several short-term CD specials that were rate leaders. These include the 6-month CD special at Andrews Federal Credit Union, the 13-month CD special at Hyperion Bank, and the 14-month Select CD at Ally Bank.
A few of the short-term CD specials have remained. One is Navy Federal Credit Union’s 6-month CD special that earns 3.00% APY. Minimum deposit is $1k. Unlike Navy Federal’s special 17-month CD, this does not have an add-on option, and there is no maximum balance.
Another short-term CD special that is still available is the Eagle Premium Savings account at Susquehanna Community Bank. This is included in the CD summary due to its 6-month rate guarantee. This account has a 3.00% APY with a minimum balance of $100k.
Even though the 6-month CD special ended at Andrews Federal Credit Union, it still offers a 2.86% APY on a special 8-month CD.
The best short-term CD deal at an internet bank is the new 13-month No-Penalty CD at PurePoint Financial. This CD has a 2.60% APY, with a $10k minimum deposit. It functions just like Ally Bank’s No Penalty CD. Since it’s a no-penalty CD, the longer the term, the better. You can make the CD have any term you want, from 7 days to its full 13-month term. If you want the liquidity of a savings account with a top rate that’s guaranteed not to fall in the next year, PurePoint Financial’s 13-month No Penalty CD is a good choice.
Savings & Money Market Account Rates
There have been no new rate leaders since my last week’s liquid account summary. I have just one note. Goldman Sachs Bank USA is offering a $100 bonus for opening its Online Savings account and making a deposit of at least $10k of new money. This is scheduled to end on March 18th.
My next update on all of the top savings and money market accounts will be next week. Here's the link to last week's savings/checking account summary. You can always get the latest rates for savings/checking accounts and CDs by using our rate tables, available via the navigational menu on top.
Federal Reserve and Interest Rate Summary
This is my new weekly summary with the Fed review split off on a separate blog post. My weekly summaries will now be focused entirely on deposit rates and deals. Please keep all discussion about the Fed, the economy and politics to my Fed/Economy review blog post.
Yields Accurate as of March 12, 2019
Under 1-Year CD Rates
| Institution | Rates | Notes |
|---|---|---|
| Navy Federal Credit Union | 3.00% ($1k) Celebration Special Rate 6-month Certificate Special | Military relationship See review |
| Susquehanna Community Bank | 3.00% ($100k) Eagle Premium Savings (6-month rate guarantee) | See review |
| Andrews Federal Credit Union | 2.86% ($1k) 8-month Certificate Special | Easy membership See review |
| Advancial | 2.83% ($50k) 6-month Jumbo Certificate | Easy membership See review |
| Advancial | 2.77% ($50k) 3-month Jumbo Certificate | Easy membership See review |
| Andrews Federal Credit Union | 2.75% ($250k max) 9-month Certificate Special | Easy membership See review |
| PurePoint Financial | 2.60% ($10k) 13-month No-Penalty CD | Internet bank Account review |
| MutualOne Bank | 2.53% ($500) 7-month Online CD | See review |
| Service Credit Union | 2.50% ($1k) 9-month Certificate | Military relationship See review |
| United Bank | 2.50% Advantage Money Market, 180-day rate guarantee | 25 states See review |
| Live Oak Bank | 2.45% ($2.5k) 6-month CD | Internet bank Account review |
| CD Bank | 2.45% ($10k) 9-month CD | Internet bank See review |
| DollarSavingsDirect | 2.40% ($1k) 6-month CD | Internet bank See review |
| EmigrantDirect | 2.40% ($1k) 6-month CD | Internet bank See review |
| MySavingsDirect | 2.40% ($1k) 6-month CD | Internet bank See review |
| Fidelity Brokered CD | 2.40% (APR) 6-month non-callable CD | Issued by CBRI, SEB* |
| The Vanguard Group Brokered CD | 2.40% (APR) 9-month non-callable CD | Issued by EBSB, NYCM, WKFB* |
| Limelight Bank | 2.35% ($1k) 6-month CD | Internet bank See review |
| Citizens Access | 2.35% ($5k min)6-month Online CD | Internet Bank Account review |
| CD Bank | 2.35% ($10k) 6-month CD | Internet bank See review |
| Marcus by Goldman Sachs | 2.35% ($500) 13-month No-Penalty CD | Internet bank See review |
| The Vanguard Group Brokered CD | 2.35% (APR) 6-month non-callable CD | Issued by BMNA, F3rdB, MRBI, MZTB* |
| Fidelity Brokered CD | 2.35% (APR) 9-month non-callable CD | Issued by BMNA, BoA, MAB, MFB, SLSB, and 5 others* |
| Communitywide FCU | 2.30% ($2k) 6-month Share Certificate | Easy membership Account review |
| My eBanc | 2.30% ($10k) 11-month Flex Time Deposit | See review |
| Ally Bank | 2.30% ($25k), 2.15% ($5k) No-Penalty 11-month CD | Internet bank See review |
| The Vanguard Group Brokered CD | 2.30% (APR) 3-month non-callable CD | Issued by BMNA, IBLA, MRBI, SANT, SBoI, SNB* |
| Fidelity Brokered CD | 2.30% (APR) 3-month non-callable CD | Issued by BMNA, IBLA, LBS&L, SANT, SBoI* |
| Customers Bank | 2.25% ($25k) | Ascent Money Market Savings (rate guarantee through 12/31/2019 - Account review |
| Chartway Federal Credit Union | 2.20% ($100) 12-month CD No Penalty | Easy membership See review |
Noteworthy Local Deals - Under 1-Year CDs
| America First Credit Union | 3.00% ($500) 6-11 month Regular Certificate | 11 Utah, 11 Nevada, 16 Idaho, 2 Arizona, and 1 Oregon counties See review |
| Utah Community Credit Union | 3.00% ($500) 9-month CD | 8 Utah counties See review |
| Bankers Trust Company | 2.75% ($1k, base rate) 7-23 month Pick-a-Term CD | Iowa and Arizona See review |
| Family First Federal Credit Union | 2.75% ($500) 8-month CD Special | Monroe and Wayne Counties, New York See review |
| Evergreen Bank Group | 2.75% ($10k) 9-month CD Special | Chicago metropolitan area See review |
| Belco Community Credit Union | 2.63% ($500) 5-month CD Special | 7 Pennsylvania counties See review |
| First Peoples Community Federal Credit Union | 2.60% ($500) 9-month CD Promo | 3 Maryland, 3 Pennsylvania, and 3 West Virginia counties See review |
| General Electric Credit Union | 2.55% ($500) 4-month Share Certificate Special | 16 Ohio, 5 Kentucky, and 5 Indiana counties See review |
| Advantage Federal Credit Union | 2.50% ($500) 5-month Share Certificate Special | Rochester, NY area See review |
| Kellogg Community Credit Union | 2.50% ($500) 9-month CD Special | 15 west Michigan counties See review |
| Providence Bank | 2.50% ($2.5k) 9-month CD Special | 7 Missouri and 1 Illinois counties See review |
| Westbury Bank | 2.45% ($500) 9-month CD | Eastern Wisconsin See review |
| Bogota Savings Bank | 2.20% ($1k) 8-month CD | Northern New Jersey See review |
| Members Choice Credit Union | 2.20% ($50k) 9-month Jumbo CD | Houston area See review |
1-Year CD Rates
| State Bank of India (IL) | 2.89% ($2.5k) 1-year Senior Citizen CD | |
| State Bank of India | 2.88% ($25k) 12-month Senior Citizen CD | See review |
| Rising Bank | 2.85% ($1k) 1-year Term CD | Internet bank Account review |
| Limelight Bank | 2.85% ($1k) 12-month CD | Internet bank See review |
| Banesco USA | 2.85% ($1.5k) 12-month CD | Internet bank See review |
| Live Oak Bank | 2.85% ($2.5k) 1-year CD | Internet bank Account review |
| Citizens Access | 2.85% ($5k min)12-month Online CD | Internet Bank Account review |
| Advancial | 2.85% ($50k) 1-year Jumbo Certificate | Easy membership See review |
| NASB | 2.84% ($1k) 12-month Online CD Special | See review |
| First Internet Bank | 2.81% ($1k) 12-month CD | Internet bank See review |
| USALLIANCE Financial | 2.80% ($500) 12-month CD | Account review |
| M.Y. Safra Bank | 2.80% ($5k) 12-month Online Promo CD | See review |
| CD Bank | 2.80% ($10k) 12-month CD | Internet bank See review |
| PurePoint Financial | 2.80% ($10k) 12-month CD | Internet bank See review |
| State Bank of India (IL) | 2.78% ($2.5k) 1-year Senior Citizen CD | |
| AgFed Credit Union | 2.75% ($1k) 12-month CD | Easy membership See review |
| SallieMae Bank | 2.75% ($2.5k) 12-month CD | Account review |
| TIAA Bank | 2.75% ($5k) 1-year Yield Pledge CD | Internet bank See review |
| Virtual Bank | 2.75% ($10k) 12-month eCD | See review |
| Ally Bank | 2.75% ($25k) High-Yield 12-month CD | Internet bank See review |
| CapitalOne Bank | 2.70% 12-month 360 CD | Account review |
| Alliant Credit Union | 2.70% ($25k) 12-17 month Jumbo Share Certificate | Internet bank See review |
| MutualOne Bank | 2.68% ($500) 13-month Online CD | See review |
| BankPurely | 2.65% ($1k) 12-month PurelyCD | Internet bank See review |
| iGObanking | 2.65% ($1k) 12-month iGOCD | See review |
| Popular Direct | 2.63% ($10k) 1-year Popular Direct CD | Internet bank |
| PurePoint Financial | 2.60% ($10k) 13-month No-Penalty CD | Internet bank Account review |
| Vio Bank | 2.55% ($500) 12-month High Yield Online CD | Internet bank See review |
| The Vanguard Group Brokered CD | 2.50% (APR) 1-year non-callable CD | Issued by SAFB* |
| Fidelity Brokered CD | 2.40% (APR) 1-year non-callable CD | Issued by EBSB, FVCB, PKWBT, SAFB, VNB* |
Noteworthy Local Deals - 1-Year CDs
| Home Loan Investment Bank | 3.15% ($100k) 14-month in-branch CD | Connecticut, Massachusetts, Rhode Island See review |
| Granite Federal Credit Union | 3.05% ($500) 11-month CD | Salt Lake County, Utah See review |
| BankNorth | 3.01% ($1k) 14-month CD Special | SE North Dakota and NE South Dakota |
| Winchester Savings Bank | 3.00% ($500) 10-month CD | Middlesex County, MA See review |
| Foundation Credit Union | 2.95% 13-month CD Special | 7 Missouri counties |
| Rhinebeck Bank | 2.95% ($2k) 14-month CD Special | Dutchess, Orange, and Ulster Counties, NYSee review |
| Cross River Bank | 2.90% ($500) 12-month CD | New Jersey See review |
| First Florida Credit Union | 2.89% ($50k) 13-month CD Special | 29 Florida counties See review |
| Jefferson Financial Credit Union | 2.96% ($100k) 12-month Share Certificate | 6 Louisiana parishes and 6 Alabama counties See review |
| Wescom Credit Union | 2.85% ($500) 13-month CD Special | 7 Southern California counties See review |
| Hanmi Bank | 2.85% ($5k) 13-month Gro CD | CA, IL, NJ, NY, TX, VA See review |
| Ocean Bank | 2.85% ($2.5k) 11-month CD | 3 South Florida counties See review |
| 3Rivers Federal Credit Union | 2.85% ($20k) 13-month CD Special | 7 northeast Indiana counties See review |
| Centris Credit Union | 2.84% ($90k) 14-month Jumbo CD | 3 Nebraska and 1 Iowa counties See review |
| Navy Army Community Credit Union | 2.83% ($1k) 13-month CD Special | 8 South Texas counties See review |
| Texas Exchange Bank | 2.81% ($10k) 12-month New Money CD | Texas See review |
| American Eagle Bank of Chicago | 2.75% ($1k) 14-month New Money Step Up CD | Cook and Kane Counties, Illinois See review |
| Dime Community Bank | 2.45% ($500) 13-month No-Penalty CD | New York State See review |
18-month CD Rates
| Navy Federal Credit Union | 3.25% ($50-$50k) 17-month Share Certificate Special | Military relationship See review |
| Veridian Credit Union | 3.05% ($100k) 18-month Bump-Up Jumbo CD | Easy membership Account review |
| Service Credit Union | 3.00% ($1k) 18-month CD Special | Military relationship See review |
| CD Bank | 3.00% ($10k) 18-month CD | Internet bank See review |
| Hanscom Federal Credit Union | 3.00% ($1k) 19-month CD Special | Easy membership See review |
| Rising Bank | 2.92% ($25k) 18-month Rising CD | Add-on & Bump-up options, Internet bank Account review |
| First Internet Bank | 2.90% ($1k) 18-month CD | Internet bank See review |
| Live Oak Bank | 2.90% ($2.5k) 18-month CD | Account review |
| Citizens Access | 2.90% ($5k min) 18-month Online CD | Internet Bank Account review |
| State Bank of India (IL) | 2.89% ($2.5k) 15-month CD Special | |
| Advancial | 2.86% ($50k) 18-month Jumbo Certificate | Easy membership See review |
| Veridian Credit Union | 2.85% ($1k) 18-month Bump-Up CD | Easy membership Account review |
| AgFed Credit Union | 2.85% ($1k) 18-month CD | Easy membership See review |
| Limelight Bank | 2.85% ($1k) 18-month CD | Internet bank See review |
| NASA Federal Credit Union | 2.80% ($5k) 15-months Share Certificate | Easy membership See review |
| United Bank | 2.80% ($500) 19-month Flex Up CD | 25 states See review |
| Pacific National Bank | 2.80% ($1k) 18-month Online Promo CD | Internet bank See review |
| Popular Direct | 2.78% ($10k) 18-month Popular Direct CD | Internet bank |
| CommunityWide Federal Credit Union | 2.75% ($2k) 18-month Share Certificate | Easy membership Account review |
| Latino Credit Union | 2.75% ($200k) 18-month Jumbo CD | Easy membership See review |
| The Vanguard Group Brokered CD | 2.55% (APR) 18-month non-callable CD | Issued by NYCM* |
| Fidelity Brokered CD | 2.55% (APR) 18-month non-callable CD | Issued by NBMA* |
| Michigan State University Federal Credit Union | 2.26% (3.36% 5-year Jumbo CD closed after 18 months) | Easy membership See review |
| Ally Bank | 2.26% (3.10% High Yield 5-Year CD closed after 18 months) | See review |
| Colorado Federal Savings Bank | 2.19% (3.25% 5-year Certificate closed after 18 months) | Internet bank See review |
Noteworthy Local Deals - 18-Month CDs
| The Farmers Bank (OK) | 3.25% ($10k) 17-month CD Special | Oklahoma |
| Foundation Credit Union | 3.24% 18-month CD Special | 7 Missouri counties |
| General Electric Credit Union | 3.20% ($500) 19-month Share Certificate Special | 16 Ohio, 5 Kentucky, and 5 Indiana counties See review |
| Suncoast Credit Union | 3.20% ($100k) 18-month Jumbo Share Certificate | 39 Florida counties See review |
| Sound Credit Union | 3.19% ($1.9k) 19-month Share Certificate Special | Washington See review |
| Atlantic Federal Credit Union | 3.10% ($500) 19-month CD Special | Essex and Union Counties, NJ See review |
| My Community Credit Union | 3.04% ($75k) 15-month Jumbo Share Certificate Special | Collin, Ector, and Midland Counties, Texas See review |
| Members First Credit Union | 3.01% ($1k) 15-month CD Special | Michigan See review |
| FORUM Credit Union | 3.00% ($500) 18-month CD | 8 Indiana counties (Indianapolis) |
| Homeland Credit Union | 3.00% ($75k) 18-month Jumbo CD | 9 Ohio counties See review |
| Elmira Savings Bank | 3.00% ($500) 19-month CD Special | 2 Central and 5 Southern Tier NY counties See review |
| Kellogg Community Credit Union | 3.00% ($500) 19-month CD Special | 15 west Michigan counties See review |
| Cornerstone Federal Credit Union | 3.00% ($5k) 19-month Regular Certificate Special | Easy membership for Tennessee and Kentucky See review |
| CFBank | 2.95% ($5k) 15-month CD Special | Ohio See review |
| Cross River Bank | 2.95% ($500) 18-month CD | New Jersey See review |
| Hanmi Bank | 2.95% ($5k) 15-month Gro CD | CA, IL, NJ, NY, TX, VA See review |
| Atlantic Federal Credit Union | 2.90% ($500) 15-month Rate Riser CD | Essex and Union Counties, NJ See review |
| Community First Credit Union | 2.90% ($10k) 15-month CD Special | 13 northeastern Wisconsin counties See review |
| Fairwinds Credit Union | 2.89% ($10k) 18-month Loyalty Add-On CD | 12 central Florida counties See review |
| Homeland Credit Union | 2.85% ($500) 18-month CD | 9 Ohio counties See review |
2-Year CD Rates
| Mountain America Credit Union | 3.25% ($500) 24-month Term Deposit | Easy membership See review |
| Community Financial Services Bank | 3.19% ($1k) 29-month CD Special | See review |
| State Bank of India (IL) | 3.14% ($2.5k) 1-year Senior Citizen CD | |
| State Bank of India | 3.14% ($25k) 2-year Senior Citizen CD | See review |
| CD Bank | 3.07% ($10k) 24-month CD | Internet bank See review |
| Georgia Banking Company | 3.00% ($500) 2-year Certificate | See review |
| USALLIANCE Financial | 3.00% ($500) 24-month CD | Easy membership Account review |
| Greenwood Credit Union | 3.00% ($1k) 24-month CD | Easy membership See review |
| SallieMae Bank | 3.00% ($2.5k) 24-month CD | Account review |
| First Internet Bank | 2.96% ($1k) 24-month CD | Internet bank See review |
| AgFed Credit Union | 2.95% ($1k) 24-month CD | Easy membership See review |
| Rising Bank | 2.95% ($1k) 2-year Term CD | Internet bank Account review |
| Live Oak Bank | 2.95% ($2.5k) 2-year CD | Internet bank Account review |
| Citizens Access | 2.95% ($5k min) 2-year Online CD | Internet Bank Account review |
| NASB | 2.94% ($1k) 24-month Online CD Special | See review |
| M.Y. Safra Bank | 2.91% ($5k) 24-month Online Promo CD | See review |
| CommunityWide Federal Credit Union | 2.90% ($2k) 24-month Share Certificate | Easy membership Account review |
| NASA Federal Credit Union | 2.90% ($10k) 25-months Share Certificate | Easy membership See review |
| Consumers Credit Union | 2.90% ($100k) 22-month Jumbo CD Special | Easy membership Account review |
| Popular Direct | 2.88% ($10k) 2-year Popular Direct CD | Internet bank See review |
| The Vanguard Group Brokered CD | 2.60% (APR) 2-year non-callable CD | Issued by SMB* |
| Fidelity Brokered CD | 2.55% (APR) 2-year non-callable CD | Issued by CITI, WFB* |
| Michigan State University Federal Credit Union | 2.54% (3.36% 5-year Jumbo CD closed after 2 years) | Easy membership See review |
| Ally Bank | 2.47% (3.10% High Yield 5-Year CD closed after 2 years) | See review |
| Colorado Federal Savings Bank | 2.35% (3.25% 5-year Certificate closed after 2 years) | Internet bank See review |
Noteworthy Local Deals - 2-Year CDs
| Ocean State Credit Union | 3.30% ($1k) 2-year CD Special | Easy membership, but requires in-branch visit See review |
| Jefferson Financial Credit Union | 3.26% ($10k) 24-month Share Certificate | 6 Louisiana parishes and 6 Alabama counties See review |
| Members First Credit Union | 3.26% ($1k) 27-month CD Special | Michigan |
| Arsenal Credit Union | 3.25% ($500) 24-month CD | St. Louis metropolitan area (MO and IL) See review |
| Kellogg Community Credit Union | 3.15% ($500) 29-month CD Special | 15 west Michigan counties See review |
| Elmira Savings Bank | 3.15% ($500) 29-month CD Special | 2 Central and 5 Southern Tier NY counties See review |
| CFBank | 3.15% ($5k) 15-month CD Special | Ohio See review |
| Wright-Patt Credit Union | 3.14% ($100k) 3.04% ($500) 27-month CD Special | 19 central and southwest Ohio counties See review |
| BrightStar Credit Union | 3.10% ($500) 23-month Share CD | 23 Florida counties See review |
| Signal Financial Credit Union | 3.10% ($500) 24-month Winter Wow CD Special | Easy membership for Maryland, Virginia, and Washington, DC See review |
| Teachers Credit Union | 3.09% ($1k) 25-month CD Special | Indiana and 2 southwest Michigan counties See review |
| First Advantage Bank | 3.03% ($10k) 24-month CD Special | Tennessee and Kentucky See review |
| Union Bank & Trust | 3.03% ($25k), 2.97% ($1k) 27-month CD Special | CO, IA, KS, MO, NE, and SD See review |
| Navigant Credit Union | 3.00% ($500) 23-month CD | Rhode Island, Connecticut, Massachusetts Account review |
| Franklin Mint Federal Credit Union | 3.00% ($500) 24-month CD Special | 3 SE Pennsylvania and 1 Delaware counties See review |
| F&M Bank | 3.00% ($1k) 24-month My Choice CD | 7 middle Tennessee counties See review |
| General Electric Credit Union | 3.00% ($100k) 2-year Jumbo Certificate Special | 16 Ohio, 5 Kentucky, and 5 Indiana counties See review |
| St. Jean's Credit Union | 3.00% ($500) 25-month CD Special | 3 Massachusetts counties See review |
| Blue Hills Bank | 3.00% ($500) 29-month Flexible CD | Eastern Massachusetts Account review |
3-Year CD Rates
| Navy Federal Credit Union | 3.75% ($50) 40-month IRA Certificate Special | Military relationship See review |
| Mountain America Credit Union | 3.35% ($500) 3-year Term Deposit | Easy membership See review |
| State Bank of India (IL) | 3.25% ($2.5k) 3-year Senior Citizen CD | |
| Veridian Credit Union | 3.25% ($100k) 41-month Bump Up Jumbo CD Special | Easy membership See review |
| State Bank of India | 3.24% ($25k) 3-year Senior Citizen CD | See review |
| State Bank of India (IL) | 3.14% ($2.5k) 3-year Citizen CD | |
| M.Y. Safra Bank | 3.06% ($5k) 36-month Online Promo CD | See review |
| AgFed Credit Union | 3.05% ($1k) 36-month CD | Easy membership See review |
| Citizens Access | 3.05% ($5k) 36-month CD | Internet bank Account review |
| Popular Direct | 3.05% ($10k) 3-year Popular Direct CD | Internet bank See review |
| First Internet Bank | 3.03% ($1k) 36-month CD | Internet bank See review |
| Veridian Credit Union | 3.05% ($1k) 41-month Bump Up CD Special | Easy membershipSee review |
| Virtual Bank | 3.01% ($10k) 36-month eCD | See review |
| USALLIANCE Financial | 3.00% ($500) 36-month CD | Easy membership Account review |
| Rising Bank | 3.00% ($1k) 3-year Term CD | Internet bank Account review |
| Live Oak Bank | 3.00% ($2.5k) 3-year CD | Internet bank Account review |
| Connexus Credit Union | 3.00% ($5k) 36-month Share Certificate | Easy membership See review |
| Salem Five Direct | 3.00% ($10k) 36-month eCD Special | Account review |
| Rising Bank | 3.00% ($25k) 3-year Rising CD | Add-on & Bump-up options, Internet bank Account review |
| Latino Credit Union | 3.00% ($200k) 36-month Jumbo CD | Easy membership See review |
| Michigan State University Federal Credit Union | 2.83% (3.36% 5-year Jumbo CD closed after 3 years) | Easy membership See review |
| Fidelity Brokered CD | 2.75% (APR) 3-year non-callable CD | Issued by SMB, WFB* |
| The Vanguard Group Brokered CD | 2.75% (APR) 3-year non-callable CD | Issued by CITI, SMB, WFB* |
| Colorado Federal Savings Bank | 2.74% (3.25% 5-year Certificate closed after 3 years) | Internet bank See review |
| Ally Bank | 2.69% (3.10% High Yield 5-Year CD closed after 3 years) | See review |
Noteworthy Local Deals - 3-Year CDs
| Money One Federal Credit Union | 3.60% ($25) 3-year IRA | Prince George's County, Maryland See review |
| Columbia Credit Union | 3.60% ($100k), 3.55% ($50k), 3.50% ($10k), 3.45% ($500) 30-month CD | Washington State and 4 Oregon counties See review |
| Credit Union One of Oklahoma | 3.56% ($2.5k-$100k) 35-month Promotional Share Certificate | 6 Oklahoma counties See review |
| Northeast Credit Union | 3.50 ($1k) 35-month Share Certificate | New Hampshire and south York County, Maine See review |
| Unitus Credit Union | 3.50% ($500) 36-month CD | Washington State and 15 Oregon counties See review |
| Solvay Bank | 3.50% ($500) 36-month CD Special w/checking | 6 central New York counties See review |
| Frontwave Credit Union | 3.50% ($1k) 3-year Share Certificate | Riverside, San Bernadino, and San Diego Counties, California See review |
| Jefferson Financial Credit Union | 3.40% ($100k) 36-month Share Certificate | 6 Louisiana parishes and 6 Alabama counties See review |
| Neighbors Federal Credit Union | 3.37% ($1.5k) 36-month Share Certificate | 9 Louisiana parishes |
| Franklin Mint Federal Credit Union | 3.36% ($500) 36-month CD | Easy membership for Pennsylvania and Delaware See review |
| Tinker Federal Credit Union | 3.35% ($1k) 33-month Special Term Certificate | 3 Oklahoma counties See review |
| BrightStar Credit Union | 3.35% ($500) 35-month Share CD | 23 Florida counties See review |
| Atlantic Federal Credit Union | 3.35% ($500) 37-month CD Special | Essex and Union Counties, NJ See review |
| Navy Army Community Credit Union | 3.33% ($1k) 30-month CD | 8 South Texas counties See review |
| Sound Credit Union | 3.33% ($3k) 33-month Share Certificate Special | Washington See review |
| Peoples Bank | 3.22% ($2.5k) 33-month CD | Pointe Coupee and East Baton Rouge Parishes, Louisiana See review |
| Bankers Trust Company | 3.20% ($1k, base rate) 36-month Anniversary CD Promotion | Iowa and Arizona See review |
4-Year CD Rates
| Community Financial Services Bank | 3.39% ($1k) 49-month CD Special | See review |
| State Bank of India | 3.34% ($25k) 4-year Senior Citizen CD | See review |
| Connexus Credit Union | 3.20% ($5k) 42-month Share Certificate | Renewals only - Easy membership See review |
| Main Street Bank (MI) | 3.15% ($500) 48-month CD | See review |
| AgFed Credit Union | 3.15% ($1k) 48-month CD | Easy membership See review |
| Popular Direct | 3.15% ($10k) 4-year Popular Direct CD | Internet bank See review |
| First Internet Bank | 3.14% ($1k) 48-month CD | Internet bank See review |
| Georgia Banking Company | 3.10% ($500) 4-year Certificate | See review |
| Home Savings Bank | 3.05% ($5k) 48-month Internet Only CD | Account review |
| Latino Credit Union | 3.05% ($200k) 48-month Jumbo CD | Easy membership See review |
| Michigan State University Federal Credit Union | 2.98% (3.36% 5-year Jumbo CD closed after 4 years) | Easy membership See review |
| Colorado Federal Savings Bank | 2.88% (3.25% 5-year Certificate closed after 4 years) | Internet bank See review |
| Fidelity Brokered CD | 2.85% (APR) 4-year non-callable CD | Issued by WFB* |
| The Vanguard Group Brokered CD | 2.85 (APR) 4-year non-callable CD | Issued by CITI, WFB* |
| Ally Bank | 2.80% (3.10% High Yield 5-Year CD closed after 4 years) | See review |
Noteworthy Local Deals - 4-Year CDs
| Bank of Utica | 3.50% ($500) 4-year to 5-year CD | 3 upstate New York counties See review |
| The Fahey Banking Company | 3.50% ($500) 48-month CD w/qualifying Kasasa checking | Ohio See review |
| Altura Credit Union | 3.50% ($1k) 50-month Share Certificate | Riverside and San Diego Counties, portions of Orange and San Bernardino Counties |
| Jefferson Financial Credit Union | 3.45% ($100k) 48-month Share Certificate | 6 Louisiana parishes and 6 Alabama counties See review |
| Tech Credit Union | 3.45% ($100k) 50-month Jumbo Compound CD | 4 NW Indiana and 2 NE Illinois counties See review |
| Neighbors Federal Credit Union | 3.41% ($1.5k) 48-month Share Certificate | 9 Louisiana parishes |
| America First Credit Union | 3.40% ($500) 48-59 month Regular Certificate | 11 Utah, 11 Nevada, 16 Idaho, 2 Arizona, and 1 Oregon counties See review |
| Cross River Bank | 3.35% ($500) 48-month CD | New Jersey See review |
| First Service Credit Union | 3.35% ($50k), 3.25% ($1k) 48-month Certificate | Fort Bank, Harris, and Waller Counties, Texas See review |
| Tech Credit Union | 3.33% 50-month Premium Compound CD | 4 NW Indiana and 2 NE Illinois counties See review |
| Fairwinds Credit Union | 3.30% ($10k) 44-month Loyalty Add-On CD | 12 central Florida counties See review |
| Lewis Clark Union | 3.26% 48-month Share Certificate | 4 Idaho and 3 Washington counties See review |
| P1FCU | 3.25% ($500) 48-month Share Certificate | 12 Idaho and 2 Washington counties See review |
| Rocky Mountain Credit Union | 3.25% ($1k) 48-month Share Certificate | 8 southwest Montana counties See review |
5-Year CD Rates
| Mountain America Credit Union | 3.51% ($500) 5-year Term Deposit | Easy membership See review |
| Mountain America Credit Union | 3.51% ($100k max) 5-year Term Deposit Plus (unlimited additional deposit) | Easy membership See review |
| Utah First Credit Union | 3.50% ($500) 60-month CD | Easy membership |
| State Bank of India (IL) | 3.45% ($2.5k) 5-year Senior Citizen CD | |
| State Bank of India | 3.44% ($25k) 5-year Senior Citizen CD | See review |
| Michigan State University Federal Credit Union | 3.36% ($100k) 5-year Jumbo CD | Easy membership See review |
| INOVA Federal Credit Union | 3.25% ($200) 5-year IRA | Easy membership See review |
| Colorado Federal Savings Bank | 3.25% ($5k) 60-month CD | Internet bank See review |
| First Internet Bank | 3.25% ($1k) 60-month CD | Internet bank See review |
| Georgia Banking Company | 3.20% ($500) 5-year Certificate | See review |
| Popular Direct | 3.20% ($10k) 5-year Popular Direct CD | Internet bank See review |
| Latino Credit Union | 3.15% ($200k) 60-month Jumbo CD | Easy membership See review |
| The Vanguard Group Brokered CD | 2.95% (APR) 5-year non-callable CD | Issued by CITI, WFB* |
| Fidelity Brokered CD | 2.95% (APR) 5-year non-callable CD | Issued by WFB* |
Noteworthy Local Deals - 5-Year CDs
| Bank of Utica | 4.00% ($500) 5-year CD | 3 upstate New York counties See review |
| The Fahey Banking Company | 4.00% ($500) 60-month CD w/qualifying Kasasa checking | Ohio See review |
| First Guaranty Bank | 3.75% ($500) 5-year CD Special | 9 Louisiana parishes and 5 Texas counties See review |
| The Harbor Bank of Maryland | 3.71% ($1k) 60-month IRA Special | DE, MD, NJ, PA, VA, WV, and DC See review |
| Alaska USA Federal Credit Union | 3.70% ($250k), 3.55% ($100k), 3.45% ($50k), 3.35% ($25k), 3.30% ($10k) 60-month CD | Alaska, Washington, San Bernardino County (CA), Maricopa County (AZ) See review |
| Jefferson Financial Credit Union | 3.61% ($100k) 60-month Share Certificate | 6 Louisiana parishes and 6 Alabama counties See review |
| Shell Federal Credit Union | 3.60% ($50k), 3.55% ($500), 3.45% ($50k) 60-month Share Certificate | Harris County, Texas See review |
| Neighbors Federal Credit Union | 3.57% ($1.5k) 60-month Share Certificate | 9 Louisiana parishes |
| The Harbor Bank of Maryland | 3.56% ($1k) 60-month CD Special | DE, MD, NJ, PA, VA, WV, and DC See review |
| Texas Bay Credit Union | 3.56% ($50k) 60-month Jumbo Certificate | Greater Houston metro area See review |
| America First Credit Union | 3.50% ($500) 60-month Regular Certificate | 11 Utah, 11 Nevada, 16 Idaho, 2 Arizona, and 1 Oregon counties See review |
| Rocky Mountain Credit Union | 3.50% ($1k) 60-month Share Certificate | 8 Montana counties See review |
| Enrichment Federal Credit Union | 3.50% ($2.5k) 59-month Share Certificate Special | 8 Tennessee counties See review |
| Knoxville TVA Employees Credit Union | 3.50% ($2.5k) 60-month Certificate Special (new money) | 8 east Tennessee counties See review |
| Knoxville TVA Employees Credit Union | 3.40% ($2.5k) 60-month Certificate Special (not new money) | 8 east Tennessee counties See review |
| Texas Bay Credit Union | 3.35% ($1k) 60-month Certificate | Greater Houston metro area See review |
| Lewis Clark Union | 3.35% 60-month Share Certificate | 4 Idaho and 3 Washington counties See review |
| P1FCU | 3.35% ($500) 60-month Share Certificate | 12 Idaho and 2 Washington counties See review |
| Pelican State Credit Union | 3.30% ($500) 60-month CD | Easy membership for AR, LA, MS, and TX See review |
Over 5-Year CD Rates
| First National Bank of America | 3.55% ($1k) 84-month Time CD | |
| INOVA Federal Credit Union | 3.50% ($200) 6-year IRA | Easy membership See review |
| Andrews Federal Credit Union | 3.45% ($1k) 84-month Share Certificate | Easy membership See review |
| Northrop Grumman Federal Credit Union | 3.38% ($40k) 84-month Bonus Term CD | Easy membership See review |
| Signal Financial Credit Union | 3.35% ($500) 72-month Share Certificate | Easy membership See review |
| Navy Federal Credit Union | 3.35% ($100k), 3.25% ($50k) 3.10% ($1k) 7-year CD | Military relationship See review |
| Navy Federal Credit Union | 3.30% ($100k), 3.20% ($50k) 3.05% ($1k) 6-year CD | Military relationship See review |
| INOVA Federal Credit Union | 3.25% ($200) 6-year CD | Easy membership See review |
| AFFCU (formerly Air Force Federal Credit Union) | 3.20% ($2.5k) 7-year CD | Easy membership See review |
| M.Y. Safra Bank | 3.20% ($5k) 72-month Online Promo CD | See review |
| Fidelity Brokered CD | 3.20% (APR) 10-year non-callable CD | Issued by CITI* |
| The Vanguard Group Brokered CD | 3.20% (APR) 10-year non-callable CD | Issued by CITI* |
| Marcus by Goldman Sachs | 3.15% ($500) 6-year High Yield CD | |
| KS StateBank | 3.15% ($500) 7-year CD | See review |
| Apple Federal Credit Union | 3.15% ($500) 120-month CD | |
| The Vanguard Group Brokered CD | 3.10% (APR) 7-year non-callable CD | Issued by CITI* |
| Fidelity Brokered CD | 3.10% (APR) 7-year non-callable CD | Issued by CITI* |
Noteworthy Local Deals - Over 5-year CDs
| First Community Credit Union | 3.75% ($500) 72-month CD | 5 Missouri and 3 Illinois counties Account review |
| Lebanon Federal Credit Union | 3.60% ($500) 66-month CD Special | Lebanon County, Pennsylvania |
| Eaton Federal Savings Bank | 3.39% ($500) 7-year CD | 5 Central Michigan counties |
| Credit Human (formerly San Antonio Federal Credit Union) | 3.35% ($1k) 120-month Share Certificate | San Antonio, TX |
| Randolph-Brooks Credit Union | 3.30% ($1k) 84-month CD | San Antonio and Austin, TX, relationship to Randolph Air Force Base |
| Fairfax County Credit Union | 3.30% ($2.5k) 72-month Share Certificate | Fairfax County, Virginia Account review |
| Gesa Credit Union | 3.25% ($500) 84-month Certificate | Washington State Account review |
| Roselle Savings Bank | 3.25% ($1k) 84-month CD | 7 Northern New Jersey counties |
| Security Service Federal Credit Union | 3.25% ($50k), 3.20% ($25k), 3.15% ($500) 7-year CD | Select areas in Texas, Colorado, and Utah |
*BMNA (Bank NY Mellon NA), BoA (Bank of America), CBRI (Citizens Bank), CITI (Citibank), EBSB (East Boston Savings Bank), F3rdB (Fifth Third Bank), FVCB (FVCBank), IBLA (Iberiabank Louisiana), LBS&L (Luther Burbank Savings & Loan), MAB (Mabrey Bank), MFB (MidFirst Bank OK), MRBI (Merchants Bank of Indiana), MZTB (Mizrahi Tefahot Bank), NBMA (Needham Bank MA), NYCM (New York Community Bank), PKWBT (Parkway B&T, IL), SAFB (Safra Bank), SANT (Santander Bank NA), SBoI (State Bank of India), SEB (Southeast Bank), SLSB (Shell Lake State Bank), SMB (SallieMae Bank), SNB (Seacoast National Bank), VNB (Valley National Bank), WFB (Wells Fargo Bank), WKFB (Wakefield Co-Operative Bank)
CDs Removed Due To Low Rates Or Expired Specials
CDs Removed, No Longer Available - Nationwide
| Andrews Federal Credit Union | 3.25% ($1k) 6-month Military Saves Week CD (Feb 25/Mar 2) | Easy membership See review |
| Hyperion Bank | 3.20% ($500) 13-month CD | See review |
| Ally Bank | 2.85% (no minimum) 14-month Select CD | Internet bank See review |
| Hyperion Bank | 3.50% ($500) 19-month CD | See review |
| Greylock Federal Credit Union | 3.10% ($500) 25-month Opportunity CD | Easy membership See review |
CDs Removed, No Longer Available - Local
| Evergreen Bank Group | 2.50% ($10k) 7-month CD Special | Chicago metropolitan area See review |
| Ocean Bank | 2.35% ($2.5k) 9-month CD | 2 South Florida counties See review |
| Royal Bank | 3.14% ($1k) 11-month CD Special | Chicago metropolitan area See review |
| Goldenwest Credit Union | 3.05% ($500) 11-month CD | 6 Utah counties See review |
| Passumpsic Bank | 2.90% ($10k min/$100 max) 13-month CD Special | New Hampshire and Vermont See review |
| Freedom Credit Union | 3.50% ($500) 18-month Promo Certificate | Easy membership for DE, MD, NJ, PA, VA, WV, and DC See review |
| Space Coast Credit Union | 3.29% ($500) 15-month CD | 24 Florida counties See review |
| Grow Financial Federal Credit Union | 3.35% ($1k), 3,39% ($500) 15-month Grow Certificate | Easy membership for FL, NC, SC; military relationship See review |
| Centris Credit Union | 3.41% ($90k) 40-month Jumbo CD | 3 Nebraska and 1 Iowa counties See review |
CDs Removed, Rate Too Low - National
| Connexus Credit Union | 2.50% ($5k) 12-month Share Certificate | Easy membership See review |
| PenFed Credit Union | 2.50% ($1k) 12-month Money Market Certificate | Easy membership Account review |
| PenFed Credit Union | 2.60% ($1k) 18-month Money Market Certificate | Easy membership Account review |
| PenFed Credit Union | 2.55% ($1k) 15-month Money Market Certificate | Easy membership Account review |
| Advancial | 2.87% ($50k) 2-year Jumbo Certificate | Easy membership See review |
| Latino Credit Union | 2.85% ($200k) 24-month Jumbo CD | Easy membership See review |
| Connexus Credit Union | 2.70% ($5k) 24-month Share Certificate | Easy membership See review |
| NASA Federal Credit Union | 2.95% ($10k) 49-months Share Certificate | Easy membership See review |
| Connexus Credit Union | 3.00% ($5k) 60-month Share Certificate | Easy membership See review |
| INOVA Federal Credit Union | 3.00% ($200) 5-year CD | Easy membership See review |
| Mercantil Bank | 3.20% ($500) 60-month Online CD | Florida and Texas See review |
| PenFed Credit Union | 3.05% ($1k) 7-year Money Market Certificate | Easy membership See review |
CDs Removed, Rate Too Low - Local
| Pelican State Credit Union | 2.53% ($500) 12-month CD | Easy membership for AR, LA, MS, and TX See review |
| My Community Credit Union | 2.79% ($1k) 15-month Share Certificate Special | Collin, Ector, and Midland Counties, Texas See review |
| TruWest Credit Union | 2.75% ($500) 19-month Investment CD Special | 4 Arizona and 2 Texas counties See review |
| Pelican State Credit Union | 2.63% ($500) 24-month CD | Easy membership for AR, LA, MS, and TX See review |
| TruMark Financial Credit Union | 3.05% ($75k) 36-month Jumbo CD | 5 SE Pennsylvania counties See review |
| Pelican State Credit Union | 3.04% ($500) 36-month CD | Easy membership for AR, LA, MS, and TX See review |
| Sharon Bank | 3.00% ($5k) 39-month Promotional CD | Delaware County (PA) and greater Philadelphia metro area See review |
| Gulf Coast Credit Union | 2.99% ($500) 36-month Share Certificate Special | Jim Wells, Nueces, and San Patricio Counties, TX See review |
| Pelican State Credit Union | 3.20% ($500) 48-month CD | Easy membership for AR, LA, MS, and TX See review |
| TruMark Financial Credit Union | 3.10% ($75k) 48-month Jumbo CD | 5 SE Pennsylvania counties See review |
Post Publication Edits
3/13/2019: SallieMae Bank 24-month CD rate raised.
but all combined can not be over 100K
(My calls are taken by their "overflow" unit, which paraphrases as best they can, to forward to the actual CSRs, which then yields generic info on a return voice mail, as well as "no-reply" emails in their secure mail system -- to which I cannot respond in turn, and thus cannot have an informed dialogue with those in the know).
First Question(s): I understand there is a $100k combined limit for my Term Deposit Plus accounts (I have two, both 60-month: an older 3.25% APY and the latest 3.51% APY). Does this limit take into account my $10 monthly contributions to each? And what about the interest? Am I actually limited to $100,000 – $1,200 (60 months of $10 for each account) = $98,800? Or even less, due to accrued and to-be-accrued interest? What are the limits of this limit?
Next Question(s): What is the best way to get my $100k (or less; due to limits) into my 3.51% Term Deposit Plus account in, say, June (when another CD matures elsewhere) . . . ? Can I ACH the entire amount, as a "pull" initiated at MACU, into my MACU Primary Savings account? (And then transfer to the 3.51% account.) Or does MACU have limits here as well -- daily or monthly -- that will foil my $100k funding initiative? Would a "push" from a linked external account work instead? Or, rather than a costly wire transfer, is it better I visit a Shared Branch, and transfer money up to my MACU Primary Savings account that way?
Anyone out there have any insight into, or add-on experience with, the add-on process as it pertains to MACU's Term Deposit Plus CDs?
As far as your question about the required $10 per month automatic deposits my question to a CSR went unanswered and she said they would call me. I have not received a call. My opinion...for what that is worth...is that the $100K term deposit plus limit cannot include the auto monthly deposit or the earned interest...but again that is only my opinion/interpretation. Hope this helps.
According to MACU's truth in savings disclosure for Term Deposit Plus accounts:
"Dividends may be credited to the term deposit account monthly becoming part of the principal balance and are not eligible for withdrawal."
Additionally:
"Transaction Limitations - After the term deposit is opened, additional deposits can be made to the term deposit at any time with the maximum of $100,000 on deposit in any one or combination of, Dedicated Savings Accounts per primary account holder."
The way I read it (which may not be MACU's view) is that interest retained in Term Deposit Plus accounts is "part of the principal balance", is "on deposit", and therefore counts toward the $100,000 limit.
A question I have is if the 100k maximum resets, and can be applied to another or other existing TD+. Theoretically it should since the maxed out TD+ is now a regular TD.
Also found this paragraph which anonymous included most of in his previous post:
Term Deposit Plus Compounding and Crediting - Dividends may be credited to the term deposit account monthly becoming part of the principal balance and are not eligible for withdrawal. Alternatively, at the time of opening, you may request to have dividends paid to you in the form of a transfer to another share or to a different account monthly rather than credited to this term deposit account. Choosing to have dividends paid to you monthly will reduce earnings. The annual percentage yield is based on the assumption that dividends will remain in the term deposit account until maturity
But I do know for a fact that they limited me to transferring $25K daily and $35K weekly just two weeks ago using MACU to initiate the transfer. Just last week I transferred $15K from my hub account which took one day. I got online the following morning and moved that $15K to the appropriate Term Plus accounts immediately. IMO much better and faster to do it that way if you have a good hub account.
Daily $25,000
Weekly $35,000
Monthly $50,000
ACH initiated at a external 3rd party bank their limits would apply.
Now as far as the $100,000 cap for the term deposit plus accounts all the deposits count towards the cap including the $10 monthly deposits but the accrued interest does not. Once the account reaches the $100,000 cap the $10 automatic deposits get bounced into the savings account until you cancel them. The account is still called a term deposit plus account at that point but no more deposits are allowed so it is essentially a regular term deposit account from that point on but with a $100,000 cap.
Q.1: I agree with analysis of poster due to the language in the truth in savings document. Also, someone posted a while back that once the balance of a term deposit plus reaches $100K it converts to a regular term deposit.
Q.2: Push it. Once in you share savings it is easy to make an immediate transfer using online banking or by calling or chatting with a CSR. Make sure you have a mobile phone number on file to receive a security code if using chat to avoid answering security questions — saves some time.
Transaction limits for accounts initiated with MACU:
Per transaction - $25,000
Daily - $25,000
Weekly - $35,000
Monthly - $50,000
The limits for youth accounts are different from all other accounts.
Youth/child accounts are:
Per transaction - $500
Daily - $500
Weekly - $500
Monthly - $1,500
I hope this information is helpful for you. Keep in mind the transfers take 2-3 days to clear.
To answer your other question about the Term deposits + accounts. If you reach the $100K limit you will still earn interest however automatic deposits will stop and you will not be allowed to deposit to the account. If you are a primary member (meaning you are first on the account or the only person on the account) on both of the accounts you are not able to have a Term Deposit plus on both accounts if the amounts are more than $100K together. On a regular Term Deposit you can have as much as you want in them and have multiple.
I just opened a new account at a credit union, and everything seemed to go fine with it except they would not complete the membership until I explained why I had so many new accounts opened in the last year. They said my Chexsystem report was fine except for the large number of accounts. I told them that I took the opportunity to open the several new accounts because rates rose all last year, and that I was just trying to get the best interest rate wherever it presented itself. They were fine with that explanation and opened my new account.
I thought this might help if you were worried about too many accounts because I was too, until now. I still wonder how many accounts is too many?...….I read a few posts here that indicated 12 new accounts are borderline too many, and that each bank/cu decides that number for themselves.
https://www.depositaccounts.com/banks/columbia-community-cu/offers/