Offer at a glance
- Interest Rate: 3.01% APY
- Minimum Balance: $1,000
- Maximum Balance: $250,000
- Availability: Nationwide
- Hard/soft pull: No, YMMV
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: None
- Insured: NCUA
The Offer
- Andrews Federal Credit Union is offering a special 3-month CD rate of 3.01% APY.
Anyone can join Andrews credit union by becoming a member of ACC: “Our field of membership includes Active Duty or Retired Military personnel (or their spouses, dependents or dependent survivors) of Joint Base Andrews, Joint Base McGuire-Dix-Lakehurst, and military installations in central Germany, Belgium, and The Netherlands; as well as over 200 employer groups throughout Maryland, Virginia and New Jersey. We also have nationwide membership eligibility through the American Consumer Council and anyone who lives, works, attends school or worships in Washington, D.C.”
The Fine Print
- Special 3-Month Certificate offer and stated APY available for a limited time only and may change at any time.
- APY effective November 25, 2019, is 3.01%; dividend rate is 2.975%.
- Certificate has a $1,000 minimum.
- Must maintain a minimum $1,000 balance to earn the advertised APY. A
- At maturity, all 3-Month Certificates will automatically renew at the 12-Month share certificate rate and term.
- Available only to members November 25 through December 6, 2019.
- Available for non-IRA certificates only.
- IRA Certificates are excluded from this offer.
Our Verdict
Not as good as the six month 3.25% APY offer they had earlier in the year, but rates have dropped a lot since then. Shame this one is only for three months, but still one of the best rates (if not the best) available.
Hat tip to reader Arizona pv
Updated, thanks
To anyone who signs up for this, I suggest you immediately contact Andrews to opt out of all Andrews and affiliate marketing materials. I’ve never received so much junk mail (e.g. life insurance offers) from a bank, and upon contacting them to remove me, they informed me it would take up to 6 months to have my info purged from all marketing lists.
Pretty sad for credit union.
Typo in bullet #5 (missing “A”).
Signed up for an account this morning and registered for online access. Definitely the easiest/quickest out of all credit unions I’ve joined.
isn’t the CIT bank deal better
Considering, right now have CFG with 2.3% so an extra .7% on $150k or so would be around $250
Not really worth doing. This is just bringing money in with hopes that people leave it there afterwards.
I guess you can deposit your $228 somewhere else. Me I am in, as Andrews is great and with a large deposit the interest is worth it
Even if you bring over $100k that’s only about $750 in interest vs the $500 you’d make just leaving it at 2% elsewhere. So about $250 more, which is on par with a decent bank sign-up bonus. And then you have to factor in costs of transferring money in and out and/or waiting for those transfers to clear.
A deal is a deal, but only lasting 3-months is pretty disappointing for a ~1% bump in APR.
When they offered this back in 2016 they offered a follow-up deal for those who had transferred.
But you are right. Don’t transfer. Banks charge huge ACH fees, and why move the money if you can get 33% more interest. There really isn’t any point.
Personally, I am here for the Tide Pod deals.
Dang, now I’m hungry
The force is strong with this one.
Lou, I am thinking about doing this deal as well Can you share more of your experience with Andrews FCU with us? How easy was it to ACH money in and out of the account? is there a daily and monthly ACH limit? Was it difficult to opt out the automatic renewal at the end of term? Thanks!
Also, interested in this.
Same
Andrews has been great with my accounts. When cd matures just put back into savings or checking
Question on the automatic renew after 3 months – is it possible to opt out of the automatic renewal and take the money out after 3 months?
Thanks!
You should just be able to cancel the new CD worst case