Posted by William Charles on March 3, 2018
Savings Accounts

Published on March 3rd, 2018 | by William Charles

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America’s Christian Credit Union: 4% APY One Year CD On Balances Up To $4,000 [Must Be Christian]

Offer at a glance

  • Interest Rate: 4%
  • Minimum Balance: $1,000
  • Maximum Balance: $4,000
  • Availability: Nationwide, must be a Christian
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown
  • Credit card funding: Doesn’t seem to be an option
  • Monthly fees: None
  • Insured: NCUA & ASI

The Offer

Direct link to offer

  • America’s Christian Credit Union is offering a 4% APY 1 year CD on balances from $1,000 to $4,000 to new members.

The Fine Print

  • The 12-month term certificate has a $1,000.00 minimum balance and $4,000.00 maximum balance per member.
  • Only new members are eligible.
  • Account must be funded with new funds or funds deposited less than 30 days prior to opening.
  • Early withdrawal penalties do apply which may reduce the principal. At maturity, this Term Share Certificate (TSC) will automatically renew for a 12-month term at the current 12-month TSC rate unless we are notified in writing prior to the maturity date.
  • Offer valid through March 31, 2018.
  • All program rates, offer, terms and conditions are subject to change without notice.
  • Certain restrictions apply.
  • Must qualify for membership. A $2 membership fee may apply. Savings or Checking Account is required to fund the account.
  • The credit union is federally insured by the National Credit Union Administration.
  • Additionally insured by American Share Insurance.
  • An Equal Housing Lender.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

This CD doesn’t have any fees to worry about, but you are charged a $2 membership fee to join.

Our Verdict

4% is obviously a great rate on a one year CD, it’s 2% and a bit higher than standard basic savings account rates. The $4,000 maximum isn’t great though. If you compare that to a 2% account you’re basically earning an extra $80 over the year. Personally I think it makes more sense to do a bank account bonus instead of opening a CD like this. There are also a few other accounts that are open to those of the Christian faith only:

Not sure what the fascination is with the 4% CDs, must be a Christian thing. If anybody has any experience with this credit union, please share it in the comments below. Friendly reminder to keep your comments respectful and polite.

Hat tip to Matt K

 



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Parkerthon
Parkerthon

I always find these “Christian Only” things interesting. Considering of the offshoots of Christianity that would find it very difficult to be in a room together, this has to just be a demographic targeting marketing ploy in the end. Convince the consumers they are getting some special benefit for being part of a select group.

Rene
Rene

Yeah, I found that odd too and read up on this a while ago and my understanding is that this is a tax scam: since it’s group of common believe they get certain tax benefits.
It could be any group but if you believe the astonishing numbers, in the US ‘must be Christian’ is close to ‘must have two ears’.

Dave C
Dave C

Since Christianity is the only group with differences amongst its own ranks…?

Roger Rabbit
Roger Rabbit

I agree! im also wondering if this is even legal… from a bank…

yseh
yseh

Does anyone know if this CU accepts mobile MO deposits? That could be a more valuable aspect than the 4% interest.

bob
bob

if you haven’t already, i recommend NRL FCU – they accept mobile MO deposit and once a year or so they’ll have “Member Appreciation” deals like CD APY’s or whatever

Redrotors
Redrotors

New to this.
What “proof” must be provided that a person is Christian?

Wong
Wong

There was another bank with the same requirements for a bonus and asked for proof of attendance of a church from the pastor or something of the like.

Mike A
Mike A

Despite the Credit Union’s name, membership is not open to all Christians but rather the small minority of U.S. Christians who adhere to the evangelical “Wesleyan” Christian doctrine. You must belong to an evangelical Church listed on their website in order to qualify for membership.

Keep in mind that even if the credit union does not verify your association with an evangelical Church and you’re able to join as non-Wesleyan, you are still supporting their doctrine (which is anti-gay among other things) by depositing money at the bank.

emergdoc67
emergdoc67

Thank you for informing. On to the next one

Freddy
Freddy

I know that’s what they say on their website but when you look at their list of acceptable denominations that are eligible for membership, you’ll see Catholics, Presbyterians, Lutherans even Jews for Jesus so it is pretty open ended.

I also was a member a couple years ago when I first started looking for bank bonuses and this was my first account opening. They had a 1 year CD with a 5.5% rate on $5,000 and it was easy getting approved.

Didn’t have to prove I was Catholic so unless they’ve changed their procedures, shouldn’t be a problem for anyone.

Tad
Tad

I’m inclined to sign up just to spite them…

Laura Rosette
Laura Rosette

I am happy to get my $200 and 4$ on a CD! It was unusual sending in proof that I went to 3 different churches and 1 of them was not on the”approved list”, but I was allowed to join. I do not see any difference for me not being allowed to join a State Employee Credit Union or a Navy Federal Credit Union. I had only gone to church 3 times in the past 6 months and I was allowed to join.

Tad
Tad

What “proof” did you send in?

Superchurn
Superchurn

These promos are great, but the discrimination isn’t.

I understand that a CU is a private group, and that private groups can discriminate on religious grounds, but the NCUA is a federal agency, funded by taxpayers, and they insure deposits at these discriminatory organizations?

How can that be legal?

Wilson
Wilson

CUs are required to restrict membership, not much difference limiting it to members of a religious organization than limiting it to members of the military or whatever, if anything “Christian” is not discriminatory enough.

Superchurn
Superchurn

Except religious discrimination is by the government is illegal. I know its not the govt doing the discriminating, but they are providing insurance to the CU, which is religiously discriminating.

Wilson
Wilson

True, but the courts basically make up the law as they go for social or political reasons, no one really cares about this CU, while custom wedding cakes made by a private business are significant

JASON
JASON

$10/month?

Olga
Olga

Does Any1 know what bureau do they pull?

MJG
MJG

People have unreasonable hatred of these religioous CUs, but this one pissed me off. It let you seem like you qualify from almost any denomination with the giant dropdown list, but then at the very end you had to check a box that you agreed with a lengthy faith statement that is pretty specific to their denomination. So I wasted a bunch of time on this app only to have to back out at the last minute.

Wesley Groth
Wesley Groth

I paid to be a member of one of a financial Council therefore I was able to get in that way. any other options you may have to be a member with a written down history of a Baptist or Evangelical Church. this is not the only using to do this there are others as well such as the one in El Paso. Their maximum balance is 2500 for four percent for 18 months

Heathen
Heathen

hello! I am a Jewish heathen. I would like to know: will i have to prove proof of circumcision to obtain this high rate CD? Will that be a soft or hard pull?

Wesley A GROTH
Wesley A GROTH

No body surgery required. Just try to sign up as they will provide a list and you see witch organization applies to you.

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