Offer at a glance
- Interest Rate: 3.25% 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 6-month CD rate of 3.25% 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
- Deposits are allowed in branch, through automatic direct deposits, and online (as transfers from another share account).
- Penalties apply for early withdrawal.
- Fees may reduce earnings.
- Deposits are insured up to at least $250,000 per individual depositor.
- Must be funded with new money OR the member must have a checking account, debit card, and direct deposit of $750 or more per month.
- Special 6-Month Certificate offer and stated APY available February 25 through March 2, 2019 and may change at any time.
- APY effective February 25, 2019 is 3.25%; interest rate is 3.21%.
- Certificate has a $1,000 minimum to earn the advertised APY and a $250,000 maximum balance.
- At maturity, all Special 6-Month Certificates will automatically renew at the regular 6-Month share certificate rate and term.
- Each individual member limited to one Special 6-Month Certificate during the promotional period.
- Must be a member of the credit union to open any deposit account.
Avoiding Fees
There aren’t any fees on this account so long as you leave the funds there the entire 6 months. Also, note, there is a $5 deposit required to become a member of the credit union which is held in a separate account.
Our Verdict
This rate tops all other short-term CD rates. It is a promotional rate so don’t expect it to renew anywhere near there. That said, their CD rates look overall competitive, and that will presumably hold. For example, they have an 8-month CD with 2.86% APY. After the 6-month promotional offer, there should be another decent deal to roll it into.
There’s a nice maximum $250,000 on this deal. Someone holding a large cash deposit could gain nicely by taking advantage of this offer. There is a hard pull done, apparently, when becoming a member and opening an account which does put a bit of a damper on the deal.
Hat tip to readers Mark and Kevin
